Replies to post #50320 on Phoenix Associates Land Syndicate (fka PBLSQ)

[Renavatio]

No...they have a long history of using restricted shares for acquisitions. Then, they PR'd the increase in the A/S a while ago to be able to use Preferred Shares for acquisitions. Since then, that is what they have done. They used a convertible preferred, similar to the preferred 3's for the condo deal, if I remember correctly.