Replies to post #56321 on Phoenix Associates Land Syndicate (fka PBLSQ)

[PUNTANG]

momentum, In my opinion, you are right on target about PBLS suffering over aggresive buys and growing pains. The failure to pay a timely divy is really a major screw-up. But, I keep going back to the preferred III shares that CA, PA and RB own. If the value is believed to be $100M+, how do they get paid if this company is worth only $11.5M? The company must build revenues/profits and grow to get their big payday. If liquidated, the preferred III shares won't be worth much at all so they have a BIG vested interest for this company to succeed!

As for converting more of my shares to the 8 cent preferreds, I'll be comfortable only when I recieve my first divy on my 6 cent preferreds.

[iinsuru]

Thanks for your post, but just curious why do you give JH any credibility at all?