Replies to post #7766 on Phoenix Associates Land Syndicate (fka PBLSQ)

[mickvonmerk]

are you talking about authorized shrs?

[quiet]

Nice clear explanation, hitemp.

re authorized shares

--q

edited: though the "purchase" thing is a little confusing... I'm not familiar with the lingo for authorizing new shares but I'm assuming that simply meant that they didn't need to add in additional authorized shares.

[sandandgravel]

Spoke to Mike today.I was told the management approved another billion in A/S but had to take it back because they dont have a majority of shares and they couldnt do an increase on their own.SO IT MEANS THEY TRIED BUT DIDNT GET IT..They will need share holder vote to increase A/S now.I was upset at my take from conversation that the float might be equal to or greater than 500 million.Again Mike is as appraised of going ons as us.Again this is my take from the conversation,so anyone is free to call Mike and ask.