That is not what they said in this PR. But they can do what ever they want.
NEW ORLEANS, LA--(MARKET WIRE)--Sep 26, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News),
Phoenix has achieved its basis or foundation for the Company at this time. Future acquisitions will likely be less frequent and will be structured within the outline of what Phoenix now controls. That is not to say there will be no acquisitions, but they should fall within our current operational group.
When Phoenix appointed Ron Blackburn as its Chief Operating Officer, it was done to allow his special skills at organization and growth to be focused more on growth of an organic nature and increased projects through strong management day to day and streamlining its organization.
Finally, with all said and all major acquisitions completed, Phoenix will increase its activities to become fully reporting. Phoenix expects that when it files that Form-10 the total issued and outstanding shares of its common stock will not exceed 815 million shares of which approximately 40% will be restricted.