Replies to post #40638 on Phoenix Associates Land Syndicate (fka PBLSQ)

[tedwitt]

Renavatio maybe you could add to this;

Keep in mind that the numbers are a snap shot from December 31, 2006
We need Share structure & 1Q07 numbers to see the real story of what will unfold in 2007 & part of 2008. The Bold & Notes are mine.

Now, what has happened since then?
http://biz.yahoo.com/iw/070104/0199605.html
Note #1

http://biz.yahoo.com/iw/070105/0199623.html
Note #1

http://biz.yahoo.com/iw/070108/0200466.html
Note #2

http://biz.yahoo.com/iw/070213/0214664.html
Note #3

http://biz.yahoo.com/iw/070214/0215247.html
Note #4

http://biz.yahoo.com/iw/070215/0215774.html
Note #5

http://biz.yahoo.com/iw/070220/0217409.html
Note #6

http://biz.yahoo.com/iw/070222/0218622.html

http://biz.yahoo.com/iw/070227/0220151.html
Note #6

http://biz.yahoo.com/iw/070301/0221718.html

http://biz.yahoo.com/iw/070306/0221942.html
Note #6
http://biz.yahoo.com/iw/070328/0232064.html

http://biz.yahoo.com/iw/070418/0240283.html
Note #6

http://biz.yahoo.com/iw/070501/0246096.html
Note #6

http://biz.yahoo.com/iw/070502/0246919.html

http://biz.yahoo.com/iw/070508/0248940.html
Note #6

http://biz.yahoo.com/iw/070509/0250475.html
Note #5

http://biz.yahoo.com/iw/070517/0254199.html
Note #1

http://biz.yahoo.com/iw/070614/0266191.html
Note #7
















ASSETS
Current Assets
Cash and Cash Equivalents 9,202,005 6,646,963 Note #7
Accounts Receivable - Net 4,496,621 1,273,181 Note #7
Inventories 13,041,050 9,525,500 Note #8
----------- -----------
Total Current Assets 26,739,676 17,445,644 Note #9

Other Assets
Investment 18,250,088 9,633,375 Note #10
Prepaid Expenses 282,047 102,296 Non-Issue
Goodwill 13,232,540 9,632,540 Note #11
Oil Reserves 0 0
Land Leases 1,402,840 1,401,265 Non-Issue
----------- -----------
Total Other Assets 33,167,515 20,769,476 Note #12

Fixed Assets
Buildings 728,000 728,000 Non-Issue
Land 225,000 225,000 Non-Issue
Real Estate Holdings 11,002,642 0
Building Improvements 412,268 25,275 New HQ
Machinery & Equipment 9,397,825 2,309,398 Note #6
Furniture & Fixtures 177,065 157,965 Non-Issue
Leasehold Improvements 18,549,000 15,885,990 Note #6
Mineral Reserves 47,550,000 47,550,000 Mine
Vehicles 275,531 275,531 Non-Issue
Less: Accum Depletion (16,015,635) (13,314,000) Note #6
Less: Accum Depreciation (6,780,821) (3,584,267) Note #6
----------- -----------
Total Fixed Assets - Net 65,520,875 50,258,892 Growth

TOTAL ASSETS 125,428,066 88,474,012 Growth
=========== ===========

LIABILITIES & SHAREHOLDERS' EQUITY
Current Liabilities 28,543,162 6,519,938 Note #2/4/13

Long Term Liabilities 4,107,000 2,343,842 Note #2/4

Shareholders' Equity
Stock & Paid in Capital 84,113,032 79,610,390
Unrealized Market Gain / (Loss) (14,441)
Retained Earnings (158) (158)
Income / (Loss) 8,679,471
----------- -----------
92,777,904 79,610,232

TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 125,428,066 88,474,012 Growth
=========== ===========


Phoenix Associates Land Syndicate, Inc.
Consolidated Statement of Revenue and Expense - Pre-Audit
---------------------------------------------------------
For Year Ended December 31, 2006

2006
-----------
Revenue 178,143,101

Cost of Goods Sold 159,605,335
-----------
Gross Profit 18,537,766

Operating Expenses 11,160,096

Operating Profit / (Loss) before 7,377,670
Depr, Amort, Depl, Interest & Tax

Depr, Amort, Depl, Interest & Tax 5,898,199

Other Income / (Expenses) 7,200,000

Income / (Loss) Pre Tax 8,679,471 Conclusions
===========

Phoenix Associates Land Syndicate, Inc.
Consolidated Statement of Revenue and Expense - Pre-Audit
---------------------------------------------------------
For Year Ended December 31, 2005
2005
-----------

Revenue 165,971,862

Costs and Expenses
Operation Costs 156,771,118
General and Administrative 2,735,642
-----------
Total Costs and Expenses 159,506,760

EBITDA 6,465,102
===========






Notes;
Note #1) Over head, new people coming in with the effect of higher costs of sales but in the reverse people that know the industry.

Note #2) 32 unit town home. Profit to exceed $10 million to be realized over the next two years. Borrowed $6.5 million, total cost $11 million (Affected Liabilities both current & long term depending on the loan structure)

Note #3) High speculations here and I will leave it at that.

Note #4) Cost $2 million with a 10 year note at 6% (Goes to long term liabilities minus what is due in 2007 which would be short term liability). The engine contract is what I would like to know more about. Hot path inspections and overhauls on turbines bring a pretty penny.

Note #5) Converted 42 million shares? Did PA & Company convert 25%? Now that would reduce the float by a substantial amount.

Note #6) $20 million contract with Cherokee that then evolved into a contract on a per year basis (Reason for the 1,700 acre new mine?). Mine went to a 24/7 operation. Five sites are now to be utilized at the mine. Announced the doubling of mine volume. Detailed specs on new equipment. Announced the acquisition of a new 1,700 acre mine (which I believe is in the County of Pearl River MS). I believe that a lot of the equipment purchased for the mine ended up on the 2006 balance sheet. Depletion increased due to mine activity. Depreciation of mining equipment; who knows what schedule of depreciation they used but my guess it is the one that takes the cost of the equipment as quickly as they can and does not represent any relationship to the useful life of the mining equipment.

Note #7) Cash; the way ProGas operates lays a lot of cash in the accounts. Increased mine production in 2006 could also account for the difference sense ProGas revenues do not look like the 190,000,000 that were stated for them before the purchase by PBLS (Katrina & Rita damage could have been very severe and some of the production that was knocked off line might not have been economical to repair). Leaves me to believe that the mine & some of the oil-services related companies where a good chunk of this.

Note #8) the majority of the difference should relate to Growth at the mine; piles of material yet to be sold. If you get new equipment on site then use it to process material into a sellable form.

Note #9) Nice growth for a Pinkie.

Note #10) Hopefully this investment is very liquid and can be used for working capital. Then again in a dream world they forked over $10 million to get a 30% equity chunk in a certain small refinery restart project that one of our IHub board members passed on to them.

Note #11) When you buy companies, the difference between the book value and the purchase price can end up there. It is a really hard to define intangible that can be confusing.

Note #12) Same as note #9

Note #13) This is an ISSUE and hopefully Note #10 relates to this. Current liabilities are due within the next year. Then again I would rack them up if Notes #2/6/10 apply and will cover. Liabilities can be good & bad depending on what they were generated for.

Conclusions: We are in for a rough ride and anyone who thought we would spike to DA’MOON will be disappointed. Others willing to sit for a few years will be very happy with this one; even a few days if the share structure is good. This looks just like any growing company would look like at this stage. I am happy with what I see in general and I am waiting for tomorrow.

[PBLS Roars]

Thanks Renavatio....also interested in hearing your views on the debt ratio increase 2005 vs 2006

[Cutting Corners]

They told us 815M or less when form 10 is released. I can find and repost that info. if need be. Just don't want to confuse investors about any surprises.

Bob

[Imirish]

Ren

i will await your thought with an open mind... but as to your thinking on o/s, you need to be open to that also... I suspect we will have about 1.2 billion shares or so... not neccessarily a bad thing depends on the deals and very soon to be announced deals in my opinion... do not take a 1.2 billion share o/s as such a neg... it really could be good for growth...

in my opinion...

Imirish...