Regarding the share count, I do believe that the series 3 were issued solely to the the key management, and they are 10.4 mil. outstanding. I do not believe these shares were to pay for acquisitions. And the share count is 1.75 billion, I think.From talking to PBLS, my sense is that the series 3 was issued for "control" purposes, and that this was deemed as being justified by management, as they have built the company. So, this is, I believe the reality, and reflects the new facts on the ground regarding how many shares are out there, and how much preferred is ahead of the common stock. I have asked these questions a few times, and never have gotten the sense that the series 3 were issued to anyone outside of the central management, and that they were not used for acquisitions. I can't say that anyone gave me an in depth story line as to how this all occurred, as these are delicate questions, and emotional ones to boot. Obviously, management feels that they have built the company, and deserve to be rewarded, and to make sure the company isn't bought out from under them. And, also, common shareholders believe that they were expecting to see that their shares controlled a much higher percentage of the company, and that once the value of the company was revealed by the pink sheet release of information, that the stock would sky rocket to reflect all this hidden value coming to light.Instead, what was revealed was a much smaller percentage of ownership represented by the common shareholders.
Now, we are still waiting for a much better picture of what the assets are of the company and the earning power of those assets. This will probably take a long time. You won't really be able to easily estimate the value of the assets or the earning power of those assets, as this will take nmany quarters of reporting to see how things progress. Also, still being a pink sheet company, PBLS may not want to reveal in depth reporting, such as breaking out the sales and earnings of the divisions, nor reporting the overhead costs of PBLS central General, Administrative, and Sales costs, were one would find the PBLS overhead NOT related to, say the Best Jets OVERHEAD.
Regards,
I do think that management believes there is still much value left for the common shareholders, but this will have to be proven up over time, IMO.
I also believe they want to become transparent over the months ahead. I'm not sure how this will play out, but I have to assume that they are serious about getting compliant with pink sheets adequate information rules. Also, they want to eventually qualify for the top tier of pink sheets.
So, I am not sure how these facts, what I interpret to be the facts, will effect the stock over the near term. We will have to see what management can relay regarding operations, and plans to build the value of the company. But, it is a fundamental difference between the percentage of ownership the common shareholders believed they had prior to June 15th.
The series 3 essentially has first claim on the value of PBLS, along with the other series of preferred. Next comes the 1.75 billion common to claim whatever value remains. This is a big difference from what people had assumed prior to June 15th. So, we will have to see what information comes out over the months ahead regarding the value which can be ascertained which is left for the common shares to base the valuation upon.
This is a hard task to figure.
Regards,
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