Ren,
You had written
"Like what some other posters have pointed out, "fair valuation" for Phoenix stock is probably going to need to be based off of book value as opposed to eps for at least the next year."
Unfortunately, it doesn't appear that the 'market' is going to value PBLS via it's book value. Without audited financials along with the market perception that all may not be as told, the share price could continue to be very, very low. It really doesn't matter what you, Jam or I think, what matters is the consensus of the market. That is why I sincerely hope that PBLS will start to release audited financials, submit documents to EDGAR (documents can be submitted that meet SEC guidelines w/out being subject to SEC oversight or SARB-OX) and un-gag the TA as soon as feasibly possible. Again, they do not need to do the above to satisfy those longs who believe in PBLS, but to attract those investors who don't, or won't, until transparency occurs.
JMHO
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