Replies to post #50415 on Phoenix Associates Land Syndicate (fka PBLSQ)

[Renavatio]

I make one dangerous assumption. That the Preferred 3's will never be exercised and never will pay a dividend to the holders. SO I back them out of the equation and that leaves us with some $10M in Preferred Debt. That puts our P/B ratio at about .45. That's ridiculous.