Replies to post #43890 on Phoenix Associates Land Syndicate (fka PBLSQ)

[El Cornholio]

Selling unauthorized shares on the public market is a criminal offense. See the fraud that happened with BHUB. PA cannot be that stupid. To suggest that without any factual evidence is a waste of time and counterproductive.

[gunnar08034]

ted, So 3 million convertible preferreds were approved on 11/10/1998 and there were 54,219,088 voting shares outstanding.

The A/S was increased to 2B shares (1.997B common and 3M preferred)sometime prior to December 1, 2005. Is that correct per the second bylaw document?

Sometime after December 2005 they changed the preferred structure to Series 1, 2 and 3. All pfd's say "annual cumulative dividend of six percent (6%) payable quarterly". So they all have the same dividend.

Series 1 and 2 are reedemable within 5 years. Series 3 are reedemable anytime after issuance. Does that make the Series 3's a personal ATM for PA,CA and RB?

Does this mean that the A/S was raised to 2B years ago?

jmho
gunnar