Replies to post #78137 on Phoenix Associates Land Syndicate (fka PBLSQ)

[sawdin]

Actually, we don't know how much time and money MMG has spent so far. It could be as little as the attorney's time and the $250 filing fee; that's a drop in the bucket compared to the return on taking a stock from .0001 up to .0019

[Xylan]

Gibber -

I think Bill Babin is fighting hard is because that’s his job, that’s what he gets paid to do. Concerning the assets you list, they lost the pit 3 or 3 years ago, Mitchell (owner of the pit) won a judgment of over $3,000,000 against Phoenix, the office building has been long gone, it was listed for sale years ago, the real estate all has been sold except for 3 or 4 parcels and Madison (the people who loaned Phoenix the cash to make the deals) has a judgment to get most if not all of the proceeds of those sales. Again concerning the pit and mineral reserves they have been gone for years now, PBLS never owned them, they just leased the mining rights from Mitchell. The one asset you do not list is the case PBLS has with a Bank the allegedly illegally seized a dredge on the pit and there is a potential (very slight) that Phoenix could win millions in that case.

This is the 1/2 cent version of the past couple years of court cases.

Xylan