Press Release Source: Phoenix & Associates Land Syndicate
Phoenix Announces Vice President of Operations Thursday January 5, 2:15 pm ET
COVINGTON, LA--(MARKET WIRE)--Jan 5, 2006 -- Phoenix & Associates Land Syndicate (Other OTC:PBLS.PK - News) is pleased to announce the appointment of DENNIS J KOWALSKI to the position of VICE PRESIDENT - OPERATIONS, effective January 1st 2006; Mr. Kowalski will be responsible for the day to day affairs of all operating decisions within the Phoenix organization, including financial matters. Mr. Kowalski will report directly to Mr. Paul Alonzo, CEO. Mr. Kowalski has provided consulting services to the Phoenix companies in the past.
Also, the independent CPA firm of Mira & Kolena, Ltd has been retained to partner with Phoenix in completing the audit of consolidated financial statements. The Mira firm will also provide full audit and tax services in conjunction with Phoenix's efforts to move to full reporting status with the SEC.
Contact: Contact: Michael A. Muashine Osprey Partners 732-233-3853
-------------------------------------------------------------------------------- Source: Phoenix & Associates Land Syndicate
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Katrina Reconstruction Update Tuesday February 7, 10:30 am ET
COVINGTON, LA--(MARKET WIRE)--Feb 7, 2006 -- Phoenix Associates Land Syndicate (Other OTC:PBLS.PK - News) Paul Alonzo, President & CEO of Phoenix Associates Land Syndicate, is pleased to finally be in a position to give good news to our shareholders regarding our ongoing efforts to help in the reconstruction of the New Orleans area and Mississippi Gulf Coast.
As all of our shareholders know, there was much premature speculation immediately after Katrina, as to how fast rebuilding would begin. If you follow the news, you should be aware that our local, state and federal governments move slowly. Additionally, everyone involved with the government agencies was totally unprepared for a disaster of this magnitude -- the largest in United States' history.
Phoenix has been moving forward in preparing for our role in the reconstruction by clearing additional land, and building roads, and enlarging staging facilities at our Pearl River mining site. This was done to make additional product available, which Phoenix anticipated would be required to supply the demand for reconstruction. These new sales are starting to come to us now.
Below is a quote from a letter to Phoenix President Paul Alonzo from United Soils, Inc., located in Ray, Michigan.
"Dear Paul Alonzo,
United Soils is pleased to announce the opening of a new division in the Louisiana and Mississippi areas to help in the reconstruction after the Katrina disaster.
United Soils has provided 3-4 million dollars worth of heavy equipment to help in this reconstruction process. We also have an abundance of earth materials at the Phoenix pit near Slidell, Louisiana. These include clay, sand, gravel and topsoil. We also own our fleet of trucks to provide the hauling of these materials to the places hit the hardest by the disaster.
For more information on the services we can provide for you please call (586) 752-7008.
Sincerely,
Ron Omilian United Soils, Inc."
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Murnak come join us over in the micro penny thread...be good to have ya over there!!!
Posts: 575 | From: Lawrenceburg | Registered: Feb 2005
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Phoenix Associates Land Syndicate (PBLS) is pleased to announce the development of a new marketing campaign and partnership with 2020 Exhibits of Houston, Texas. 2020 Exhibits has been selected to begin a re-branding campaign that will include new logo design, development of marketing literature and design and production of a new web site.
The web site is a key element in the company's strategic marketing plans. With six divisions, PBLS has continued a remarkable growth. The new web site will communicate this growth and the continued business development and acquisitions of future companies. "We are very pleased to bring on a design firm that recognizes the vision of this company and our long term objectives," says Paul Alonzo, President and CEO. "The development of this full scale web solution will help us manage our information and build more profitable relationships with the company partners, investors and employees." To create a strong and unified brand for the six divisions, all marketing material will be designed with the same consistency and look as the web site.
2020 Exhibits was selected based upon their commitment and expertise in corporate branding and strategic marketing communications. Their extensive client portfolio includes Fortune 500 companies such as Halliburton, Chevron Texaco, Waste Management, Conoco and Unocal.
About 2020 Exhibits
2020 Exhibits is a national leader in portable and custom exhibits and event management services. Through their devotion to the industry and to their customers for more than 18 years, 2020 Exhibits has delivered award winning exhibit and design/marketing services. The combined corporate facilities span over 85,000 sq. ft. collectively featuring large showrooms, on-site digital printing facilities, creative design and marketing services, a custom fabrication workshop as well an event planning and strategy group. 2020 Exhibits employs over 65 team members committed to providing superior service. Offices and showrooms are located in Houston, Cincinnati, Cleveland and Orlando. Establishing these locations is part of an acquisition plan to position clients with regional service and storage facilities to minimize increasing show costs, freight and labor. For more information, visit www.2020exhibits.com
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with over 5,700 stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz
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Phoenix Associates to Acquire Three Texas-Based Oilfield Companies 9:30 AM ET Mar 29, 2006
COVINGTON, LA, Mar 29, 2006 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (PBLS : phoenix assocs ld synd com, PBLS0.02, +0.00, +2.2%) today announced that it has entered into a binding letter of agreement to acquire three Texas-based oilfield companies, Sam's Oil Country Inspection Services, Inc., CM Ideal Energy, Inc. and Ideal Energy Directional Drilling Services, Inc. The closing of these transactions is tentatively set between April 14th and May 1st , 2006 and is subject to the standard conditions to closing on such transactions, including satisfactory conclusion to the Company's due diligence review. Paul Alonzo, President and CEO of Phoenix, said, "We are pleased to be able to continue the growth of our company through strategic acquisitions. These three companies are providers of much needed services to the oil exploration field and will contribute to the strength of our Phoenix Oil and Gas Division. Based on information provided to Phoenix by the sellers, we anticipate that these acquisitions will contribute revenues of approximately $11 million and operating profits of approximately $1.9 million for 2006. More complete information about these companies and the terms of the transactions will be released after the closings." Sam's Oil Country, located in Kilgore, Texas, inspects wellheads and other parts of the well that are critical to successful and safe drilling operations. CM Ideal Energy Services is a rental company that rents down hole drilling motors and equipment. The third company, Ideal Energy Directional Drilling, is a rapidly expanding drilling company with an experienced staff of directional drillers and planning support personnel. The combined capabilities of these companies will provide the Phoenix Oil and Gas Division with new resources and experienced management to support the Company's continued growth in the oil and gas field.
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Phoenix Associates Completes Stock Repurchase and Announces Continuation of Repurchase Program Wednesday April 26, 9:30 am ET
MADISONVILLE, LA--(MARKET WIRE)--Apr 26, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) announced today that it has completed the stock repurchase program announced last November 9th with the buy back of more than 110 million shares of its common stock. The board of directors of Phoenix and its advisors have agreed to continue the stock repurchase program for an unlimited number of shares of Phoenix common stock. The Company believes that at current levels, the stock of Phoenix remains strongly undervalued and does not give any meaningful impact to the strategic acquisitions of compatible companies over the past twenty months.
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Phoenix Associates Acquires Three Texas-Based Oilfield Companies Update: 10:09 AM ET NEW ORLEANS, LA, May 02, 2006 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate today announced that it has closed on the acquisition of three Texas-based oilfield companies, Sam's Oil Country Inspection Services, Inc., CM Ideal Energy, Inc. and Ideal Energy Directional Drilling Services, Inc. Paul Alonzo, CEO and President of Phoenix, said, "We are pleased to be adding Sam Henley and David Bolton, the principals of the companies we have acquired, to our highly qualified executive leadership team, now that these acquisitions are closed. Mr. Henley will oversee all operation of the three companies and David Bolton will oversee the daily operations of Ideal Energy, the directional drilling company." Mr. Alonzo added, "The acquisition of these three companies is confirmation that we are continuing to implement our plans to grow our company through strategic acquisitions. These three companies are providers of much needed services to the oil exploration field and will contribute to the strength of our Phoenix Oil and Gas Division. We believe that these new business units will be quickly integrated into the Phoenix family of companies and contribute revenues of about $11 million in 2006 with operating profits of approximately $2 million." The Company has indicated that the total purchased price of the three companies was set at $4.125 million, structured as follows: $1.25 million in cash, 2.5 million shares of restricted common stock of the Company at $0.05 per share, and 275,000 shares of PBLS preferred stock at a par value of $10.00 per share, paying a 6% annual dividend, to be paid quarterly. The holders of the preferred have the right to put any portion of the preferred back to the Company at any time after 60 months for cash. The stockholders may also elect to hold the preferred stock forever if they wish and thus keep receiving quarterly dividends as long as they hold the stock. In addition, both Mr. Bolton and Mr. Henley have entered into five year employment agreements with the Company. These three acquired companies are located in Kilgore, Texas. Sam's Oil Country is in the business of inspecting bottom hole assemblies and other parts of a well that are critical to successful and safe drilling operation; CM Ideal Energy Services is a leasing company that leases down hole drilling motors and equipment; and Ideal Energy Directional drilling is a rapidly expanding drilling company with an experienced staff of directional drillers and well planners. About Phoenix Associates Land Syndicate (PBLS) Phoenix Associates Land Syndicate (PBLS) is a public holding company, with over 5,700 stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz
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Phoenix Associates to Acquire TCB Properties, LLC Wednesday May 3, 11:19 am ET
Expands Its Construction Division With the Addition of This Diversified Land Development and Construction Company With Holdings in Condos, Condo-Conversion Projects, Raw Land, and Natural Gas Wells
NEW ORLEANS, LA--(MARKET WIRE)--May 3, 2006 -- Phoenix Associates Land Syndicate (Other OTC:PBLS.PK - News) today announced that it has entered into a binding letter of intent to acquire TCP Properties, LLC, a diversified land development and construction company with holdings in raw land, condominiums and condo-conversion projects, and natural gas wells in Texas.
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Phoenix Associates to Acquire United Soils, Inc. Tuesday May 23, 9:30 am ET
Recent Approval by the US Army Corp of Engineers of the Company's Aggregate Products for Use on Projects in Greater New Orleans and the Gulf Region Has Accelerated the Build Up of Mining Operations at Murphy Sand & Gravel and the Acquisition of United Soils
NEW ORLEANS, LA--(MARKET WIRE)--May 23, 2006 -- Phoenix Associates Land Syndicate (Other OTC:PBLS.PK - News) today announced that it has entered into a binding letter of intent to acquire eighty percent (80%) of the outstanding shares of United Soils, Inc. and its sister company, Earth Products, Inc., with the closing anticipated to be on or about June 2, 2006.
Paul Alonzo, President and CEO of Phoenix, said, "With the recent approval by the US Army Corp of Engineers of aggregate products from the Company's Murphy Sand & Gravel mines for use in the rebuilding of the Greater New Orleans area and the Gulf region, the acquisition of United Soils makes perfect sense."
Mr. Alonzo added, "Since we signed a working agreement with Ron Omilian, President of United Soils, back in early 2006, we have strongly increased production operations at the mining site. By bringing United Soils into the Phoenix family of companies, we believe that the future will be very bright for all parties involved."
Ronald C. Omilian said, "I am pleased that we have come to an agreement with Phoenix, and will be combining our operations with a company that is so determined to be a strong contributor to the rebuilding of the Gulf region. Having already been working with Phoenix, we have become quite comfortable that United Soils and Phoenix will grow together, doing our best to accelerate the productivity of the Company's aggregate products operations, and to satisfy the needs of the US Army Corp of Engineers and the many others in need of our products and services."
More complete information about United Soils, Inc. and the terms of the acquisition transaction will be released after the closing.
About United Soils, Inc.
United Soils, headquartered in Ray, Michigan, opened a division in the Louisiana and Mississippi areas in early 2006 to help in the reconstruction after the Katrina disaster, and has provided 3-4 million dollars worth of heavy equipment to help in this reconstruction process. It has an abundance of earth materials at the Phoenix sand & gravel mines in Pearl River, Louisiana. United Soils has a fleet of trucks to provide the hauling of these materials to the places most in need.
The Ray, Michigan, operation of United Soils is one of the largest wholesale suppliers of bulk topsoil in North America, and is a multi-service company providing mass earthwork, site grading, soil erosion control and trucking. Having started out as a topsoil operation providing custom blended soils and compost, today the company is heavily involved in site development, snow removal, trucking and seeding, and own a large fleet of gravel trains, dump trucks, dozers, scrapers, and loaders.
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with over 5,700 stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz
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Log Onto ***.com for Phoenix Associates Land Syndicate Interview Monday July 24, 3:45 pm ET
COVINGTON, LA--(MARKET WIRE)--Jul 24, 2006 -- The CEO of Phoenix Associates Land Syndicate, Paul Alonzo, will be live on Market News First (www.***.com) for an exclusive interview with the *** radio team. The interview is slated for July 27, 2006 at 9am CDT. Phoenix Associates Land Syndicate (Other OTC:PBLS.PK - News) is a public holding company focusing on the acquisition and development of companies in the construction, mining, oil and gas industries. The purpose of the company is to buy quality companies in core business areas and also to strengthen its current holdings and new acquisitions by creating operating efficiencies and by providing capital resources.
The company was founded in 1978 and has 13 locations throughout the United States. It was incorporated to change the domicile of American Western Resources, Inc. from the state of Delaware to the state of Nevada.
To hear the live interview or participate in the discussion join CEO of Phoenix Associates Land Syndicate, Paul Alonzo, on July 27, 2006 at 9am CDT on www.***.com.
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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Phoenix Associates Issues Message to Shareholders Monday July 31, 12:35 pm ET
NEW ORLEANS, LA--(MARKET WIRE)--Jul 31, 2006 -- Phoenix Associates Land Syndicate (Other OTC:PBLS.PK - News)(www.pbls.biz) today announced that Paul Alonzo, its President and CEO, issued the following message to the company's shareholders.
MESSAGE TO SHAREHOLDERS
I want to thank all of you for the overwhelming favorable comments that have been e-mailed to me as a response to my radio interview last Thursday. Phoenix will become fully transparent when the independent auditors finish their work. Phoenix has 22 companies and/or registered trade names that it operates under. At least seven of these are being cancelled. Many of these entities have different reporting dates and different states of origination. The job of putting all of these in order is overwhelming with three years of audits (2006 included) for each entity.
Whether good or bad, the news will be released, and as we take each step, Phoenix will become fully transparent. I am not going to predict a date or a time on the release of this information, only that it will be done. In 2001, the company was released from Chapter 11 (reorganization) and did $151,000 in gross revenue. By 2005, the company has changed considerably - - see unaudited consolidated financials for 2005 below. By the time of the final audit for 2006, I believe the company will be annualizing far greater numbers, even after considering the revenues that were lost due to Hurricane Katrina.
As a non-reporting pink sheet company, it is important that we maximize our time and efforts to add assets and income to Phoenix. At the same time we continue to work in a quiet period while we do our work. The reason for the quiet period was re-established Thursday while I was announcing the binding letter of intent to purchase Best Jets, Ltd. and other related companies in my teleconference. While I was finishing the interview, our stockholders began calling Best Jets and asking questions. The Best Jets group of companies had not even told their employees yet. This continuous business interference is outrageous and negatively works against the efforts of Phoenix. The purchase of another company that took someone 15 to 20 years to put together is a very delicate process. This company was their baby and their employees are their corporate family and they have a deep personal responsibility to that family. The time between the binding letter of intent and the closing contract is very critical for these and many other reasons. Stockholder interference during this time frame is ridiculous and works against all of our interests. Phoenix will remain in a quiet period.
Just as a reminder Phoenix has a buy back offer in place that reads as follows:
Phoenix shall repurchase up to one hundred million shares at a price of $0.03 per share of common stock, and all repurchases shall be effected in compliance with Rule 10b-18, promulgated under the Securities Exchange Act of 1934.
Should you wish to participate in this stock repurchase program please:
1. Send your stock certificate via "Certified -- Return Receipt Requested" mail to:
Phoenix Associates Land Syndicate P.O. Box 1358 Covington, Louisiana 70434-1358 2. With your certificate send a letter, in your own words, stating that you are selling the stock back to Phoenix for $0.03 per share and that you request your payment on same within (30) days.
3. Sign the back of your certificate as the seller along with your letter.
4. Phoenix will handle the ensuing paperwork and pay you for your stock within thirty (30) days of the receipt of your letter and your signed certificate.
Phoenix is also pleased to announce that it has hired two directional drilling coordinators which will greatly enhance its drilling efforts and income at Ideal Energy Directional Drilling Inc.
We thank all of you for sticking with Phoenix. We are doing everything we can to enhance shareholder value and to make Phoenix a success story for all Phoenix supporters.
Phoenix Associates Land Syndicate, Inc. Consolidated Statement of Operations for 2005 (Unaudited)
2005 -----------
Revenues 165,971,862
Costs and expenses Operating costs 156,771,118 General and administrative 2,735,642 ----------- Total costs and expenses 159,506,760
Operating income / (loss) 6,465,102 -----------
Other income / (loss) 6,230,000
Depreciation and amortization 2,896,203
Depletion 2,701,000
Interest 18,770 -----------
Net income / (loss) pre tax 7,079,129 -----------
Provision for income tax 0
Net income / (loss) 7,079,129 ===========
Phoenix Associates Land Syndicate, Inc. Consolidated Statement of Operations (Unaudited)
at 12/31/2005 ----------- ASSETS Current assets Cash and cash equivalents 6,646,963 Accounts receivable - net 1,273,181 Inventories 9,525,500 ----------- Total current assets 17,445,644
Other assets Investment 9,633,375 Prepaid expenses 102,296 Goodwill 9,632,540 Oil reserves 0 Land lease(s) 1,401,265 ----------- Total other assets 20,769,476
Fixed assets Buildings 728,000 Land 225,000 Building improvements 25,275 Machinery and equipment 2,309,398 Furniture & fixtures 157,965 Leasehold improvements 18,527,000 Mineral reserves 47,550,000 Vehicles 275,531 Less: Accum depletion (13,314,000) Less: Accum depreciation (6,225,277) ----------- Total fixed assets 50,258,892
TOTAL ASSETS 88,474,012 ===========
LIABILITIES & SHAREHOLDERS' EQUITY Current liabilities Accounts payable 5,965,274 Note payable - short term 500,000 Accrued expenses 1,499,365 ----------- Total current liabilities 7,964,639
Long-term liabilities 2,191
Long-term debt 0
Shareholders' equity Stock 9,499,384 Paid in capital 61,888,642 Unrealized market gain / (loss) (27,363) Retained earnings 9,146,519 ----------- Total shareholders' equity 80,507,182
TOTAL LIABILITIES & SHAREHODDERS' EQUITY 88,474,012 ===========
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with hundreds of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz
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Phoenix Rescinds Stock Buy Back Program Friday August 11, 1:55 pm ET
NEW ORLEANS, LA--(MARKET WIRE)--Aug 11, 2006 -- August 11, 2006 - Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced that effective August 15, 2006 it is rescinding a stock buy back program that was announced on June 19, 2006, a stock repurchase program under which the Company had offered to repurchase up to one hundred million shares of its common stock at a price of $0.03 per share.............................................
The Company further indicated that it is now in the process of an open market buy back of its common stock, up to one hundred million shares when combined with the shares that may be repurchased under the above program that is being rescinded.
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Phoenix Associates Acquires Best Jets Group of Companies
PrintE-mailDisable live quotesRSSDigg itDel.icio.usLast Update: 10:25 AM ET Aug 23, 2006
NEW ORLEANS, LA, Aug 23, 2006 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that it completed the acquisition of the Best Jets Group of Companies effective August 17th, 2006. The Best Jets Group of Companies includes the following: Best AeroNet, Ltd., Best Jets, Ltd., Best Jet Parts, Ltd., Best AeroNet Aviation, Ltd, Jet Makers, LLC, Peaks Aviation Services, LLC, Butterfly Cove Holdings, LLC, Artist Air Ltd, and Pillar, LC. Phoenix indicated that the acquired companies listed above are being reconfigured into the following "C" Corporations. -- Best AeroNet, Inc. This company is a discount jet fuel supplier with over 600 fueling locations in South, Central and North America. -- Best Jets Engines, Inc. This company will combine Best Jets, Ltd. and Best Jet Parts, Ltd. Best Jet Engines, Inc. is a FAA certified jet engine repair station which specializes in CJ610, CJ700, and J85 Jet Engines. Additionally, Best Jet Engines also has one of the possibly largest privately owned inventories of parts in the world for 20 series Lear Jets and the above mentioned engines. -- Best Jet Airframe Services, Inc. and Best Jet Sales and Management, Inc. The Airframe Services business provides maintenance repair, renovation, CRS, FBO operation. (Lake Texoma Jet Center) The Sales and Management business provides management, pilot/dispatch services, shared ownership, and sales. These two companies are replacing Best AeroNet Aviation, Ltd. -- Jet Makers, Inc. This company, formally known as Jet Maker, LLC, purchases aircraft for remanufacture and resale.
The following companies are being dissolved with the assets being assigned to the emerging entities listed above: Peaks Aviation Services, Inc., Butterfly Cove Holdings, Inc., Artist Air, Ltd. and Pillar LC. Terms of Acquisition for 80% ownership of the Best Jets Group of Companies is as follows: $4.5 million in cash, 3 million shares of restricted common stock, and stock options on 15 million shares of common stock vesting at the rate of 3 million shares per year for 5 years. The stock options are exercisable at a 50% discount from the 30 day average closing price per share prior to execution (vesting) date -- execution (vesting) dates to be on the 1st through 5th year anniversaries of the acquisition closing of the Best Jets Group of Companies. Additionally, the three owners have signed 5 year employment agreements with Phoenix. The cash portion of the acquisition was paid through a combination of a cash payment and a five year note at 5.05 APR. Paul Alonzo, President and CEO of Phoenix Associates, stated, "We are very excited about the addition of the Best Jets Group of Companies to the Phoenix organization. Phoenix will grow this group of businesses into major players in each of their individual fields."
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Phoenix Informs Shareholders About Best Jets Engines, Inc. Tuesday September 12, 5:45 am ET
NEW ORLEANS, LA--(MARKET WIRE)--Sep 12, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today released information on Best Jets Engines, Inc., one of the five "C" Corporations formed following the August 17th acquisition of the Best Jets Group of Companies.
Paul Alonzo, President and CEO of Phoenix Associates, stated, "We announced earlier that we would endeavor to more fully inform our shareholders about Best Jets and the exciting group of companies that we have acquired. Best Jets Engines, Inc. is one of the five new 'C' Corporations coming out of the original nine LLCs or partnerships that comprised the Denison, Texas-based Best Jets Group."
Best Jets Engines, Inc., a company that evolved from the combination of Best Jets Ltd and Best Jets Parts Ltd, is an FAA certified Jet Engine repair station which specializes in CJ610, CF700 and J85 Jet Engines. Best Jets Engines, Inc. has one of the largest inventories of parts in the world for 20 series Lear Jets and the above mentioned engines. Best Jets Engines, Inc also maintains a substantial inventory of completed engines that can be traded out to aircraft owners, thereby cutting the down time of an aircraft when engine rebuild becomes necessary.
Best Jets Engines, Inc. performs repairs, inspections and overhauls on General Electric CJ610 and CF700 series of turbo jet engines. These engines are most commonly used on 20 series Lear Jets and the Dassault Falcon 20. By way of background, the manufacturer specifies that these engines be overhauled every 5,000 hours of operation at a cost typically ranging from $250,000 to $400,000. They also require inspection of "Hot sections," the area from the combustion chamber to the turbine section where the hot gasses exit the engine, every 1,000 hours of operation. Depending on conditions discovered, a hot section inspection might cost from $50,000 to $100,000.
Recently, General Electric announced a "Propulsion Modernization Program" (PMP) for these engines that double the time between overhaul (TBO) from 5,000 to 10,000 hours and the "Hot Section" inspection interval from 1,000 to 2,000 hours. Best Jets has been working closely with General Electric to become the only engine shop authorized by GE to perform the modernization upgrade on engines in the civilian market. GE originally developed the PMP for the US Air Force, where these engines (under the moniker of "J85") provide propulsion for the T-38 Jet Trainer. They plan to keep the engine in service though the year 2040.
This new "solid spool compressor" engine will be standard equipment on the Best Jets 21st Century Lear Jet conversion Gold and Platinum Editions.
Additionally Best Jets Engines, Inc. has purchased an engine test cell that is in the process of being delivered and assembled at the Denison, Texas site.
Mr. Alonzo stated, "We believe that the new engine test cell capability will put Best Jets Engines at a completely different level than any other civilian engine company and will position Best Jets Engines to go after the lucrative market of foreign J85 military engine rebuilding."
The J85 engine is the same engine that powers the 20 series Lear Jet, but has an after burner which when in use increases the thrust enormously. There are about 10,000 of these engines worldwide.
Best Jets Engines, Inc. is currently negotiating a large contract to bring in a large number of the J85 engines for storage, disassembly, inspection and rebuild. This contract is projected to take 3-5 years to complete.
Mr. Alonzo added, "We at Phoenix look forward to working with the management and employees of Best Jets Engines, Inc. and expect revenues of this company to grow into tens of millions of dollars per year during the next 1-2 years."
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Phoenix's Best Jets Engines Awarded Contract to Service and Support J85 Turbo Jet Engines Thursday September 21, 5:45 am ET
Best Jets Engines Awarded Contracted by Aviall, Inc., a Sub of Boeing Commercial Aviation Services, to Store, Service, Repair and/or Re-Manufacture 133 GE J85 Turbo Jet Engines
NEW ORLEANS, LA--(MARKET WIRE)--Sep 21, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced that Best Jets Engines, Inc., a wholly owned subsidiary, has been awarded a significant contract by Aviall, Inc. regarding the servicing and refurbishment of one hundred thirty three (133) GE J85 turbo jet engines.
Aviall, Inc., which describes itself as "the world's largest independent provider of new aerospace parts and related aftermarket services," was recently acquired by The Boeing Company for $1.7 billion, and is now a subsidiary of Seattle-based Boeing Commercial Aviation Services.
Best Jets Engines, which already has a Teaming Agreement in place with GE's Aircraft Engine Division, sees this latest contract as confirmation by such major aviation industry companies as Aviall, Boeing, and GE of its expertise and capability to play an important role in their aircraft engine parts and maintenance support operations.
The first stage of the Aviall contract begins this week with the arrival at the Best Jets facility in Denison, Texas of 133 GE J85 turbo jet engines, along with afterburners and other related items for use on the engines. The J85 turbo jet engine powers the T-38 military jet trainer as well as several other models of aircraft operated by the US military and scores of foreign governments. Best Jets' work scope on the 133 engines begins with disassembly, followed by cleaning, inspection, categorizing, repairing, tagging and drop shipping parts directly to Aviall's customers. Some engines will be overhauled or repaired, tested at Best Jets' Test Cell and returned to service. According to George Ottendorf, Engine Program Manager for Best Jets, Inc., the anticipated revenue will be millions of dollars per year over the life of this one contract.
Phoenix Associates, owner of the Best Jets Group of Companies, believes that this is one of many such contracts soon to come to Best Jets Engines, Inc. In anticipation of these contracts, Phoenix has moved forward with installation of a new state-of-the-art Engine Test Cell that has been delivered and is being installed at the Best Jets Engines site. This Test Cell has a value of approximately $3 million.
This Test Cell will allow Best Jets to test run the rebuilt engines and put them through a series of tests prior to shipment to the end user for installation on an aircraft.
Phoenix believes that annual revenues from its Best Jets Engines business unit will exceed $10 million for the year 2007, and will grow significantly each year thereafter for the next five years.
There are approximately 10,000 engines worldwide of the type being remanufactured by Best Jets. The average cost to rebuild a J85 turbo jet engine is $200,000 to $400,000 each, depending on the scope of the work required to bring the engine back to original manufacturer specifications.
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Phoenix Associates Provides Shareholders With Update on Business Operations Tuesday September 26, 5:45 am ET
NEW ORLEANS, LA--(MARKET WIRE)--Sep 26, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News), a holding company with assets in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries, released the following comments on the status of its business operations. One year ago today Phoenix released an update on business operations to its shareholders. The Company thought it would be appropriate to distribute a comparable news release today so that its shareholders might judge for themselves the progress made by Phoenix in one year.
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Phoenix's Best Jets and Merex Inc. in International Teaming Agreement Monday October 30, 5:00 am ET
Merex, Worldwide J-85 Distributor, in Teaming Agreement With Best Jets Engines to Be Its J-85 Engine Repair and Support Shop; About Forty International Militaries Are Users of Northrop T-38 Trainers and/or Northrop F-5 Fighter Jets With J-85 Series Engines
MADISONVILLE, LA--(MARKET WIRE)--Oct 30, 2006 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced a Teaming Agreement between Merex Inc, of Camarillo, CA, and Best Jets Engines, Inc., a subsidiary of Phoenix, with Best Jets to provide a full range of repair, refurbishment and support services for J-85 turbo jet engines that are in active use by about forty international military clients of Merex.
Under this agreement, Best Jets is to perform whatever J-85 turbo jet engine work that Merex's international military clients may require. Merex has been serving these international clients for more than twenty years.
By way of background, the Northrop F-5 series aircraft and the J-85 series engines are one of the most prolific trainers/fighters/engines ever manufactured in the United States. Today, 40 years after the first F-5 was manufactured, more than 1500 F-5/T-38 aircraft and over 5,000 J-85 engines are still operational in 40 countries. Upgrades to the airframes and engines are expected to keep the majority of these aircraft operational to the year 2020 and beyond.
About Merex, Inc.
Merex is a premier international logistics company providing support services to over 35 countries worldwide. Merex was established in 1982, is headquartered in Southern California and maintains marketing representations in South America, Europe, Middle/Far East, and Africa.
To better serve J-85 operators worldwide, and to provide complete, "factory new" spares and components for the J-85 series engines, GE Aircraft Engines has appointed Merex as their Authorized Distributor for all spares, components, upgrade kits, and Ground Support Equipment.
Merex's extensive experience and knowledge as a major exporter ensures prompt delivery of parts it contracts. The company works closely with the U.S. State Department (Munitions Control Reg. No. 0905-2630), the Commerce Department, and the Defense Security Assistance Agency to coordinate the needs of all its customers. Merex is approved by the DSSA to provide support services to countries utilizing FMS credit grants. http://www.merexinc.com/index.html
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz
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Phoenix Comments on Murphy Sand & Gravel Legal Activities Thursday October 26, 12:11 pm ET
MADISONVILLE, LA--(MARKET WIRE)--Oct 26, 2006 -- Phoenix Associates Land Syndicate (Other OTC:PBLS.PK - News), a holding company with assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, trucking, contract hauling, construction, swimming pool construction and construction related industries, today released the following comments relating to its Murphy Sand & Gravel (MS&G) business unit.
Phoenix has become aware of a great deal of concern being expressed by many of its shareholders about the Phoenix MS&G mining operation in Pearl River, Louisiana. MS&G is located on Honey Island and is accessed via bridges from the north and the south. The operation has been, but is not currently a profit center for Phoenix since the Louisiana Department of Transportation has severely curtailed the truck load limits that can be carried over the bridges that access Honey Island. These bridges received quick but not permanent repairs after Hurricane Katrina and are not as yet recertified to carry the weight of fully loaded trucks. Now, more than ever the operation has limitations.
Phoenix is presently taking down old and dilapidated equipment at MS&G and beginning to install new and much more advanced equipment. Phoenix expects to begin operations with this equipment in late 2006 to early 2007.
In several news releases and most recently the release on September 26, 2006, Phoenix has tried to keep everyone informed concerning the ongoing litigations with this asset. The first piece of litigation relating to MS&G involves a bank in Picayune and a manufacturer in Picayune, Mississippi. The bank seized all of the MS&G equipment and completely shut down the operation on January 13, 2004. Phoenix continued to sell material it had previously mined and continued to develop the property to expand its mining operation. Phoenix also went to court to regain possession of its equipment. Phoenix was not sued in the litigation and Phoenix was not allowed to argue its points under the Louisiana Uniform Commercial Code which Phoenix believed should have protected its equipment from the bank and its unjustified claim against the equipment Phoenix purchased from the Mississippi manufacturer. Phoenix lost in the lower court but won twice in the Court of Appeals. Phoenix and the bank are now before the Supreme Court of the State of Louisiana and the Company should know the outcome in early 2007. All of the law the Company's attorneys have submitted to the court appear to indicate Phoenix should prevail. If Phoenix does prevail it will seek millions of dollars of damages from the bank and the manufacturer.
In the second piece of litigation, Phoenix sued the lessor of the property for continuous and torturous business interference. The lessor has used a number of attorneys in this case and Phoenix is now in the interrogatory and deposition stage. Phoenix will use a jury trial but this process has been delayed because of a third piece of litigation that was initiated several months ago. If successful in the business interference suit Phoenix would expect to receive several million dollars in damages when this lawsuit is resumed and finalized.
The third piece of litigation involves the lessor suing Phoenix for signing operational agreements to further develop the property. Phoenix developed these agreements when it lost all of its equipment to the Mississippi bank. The lower court determined that these operational agreements were sub-leases and were a material breach of the lease. Phoenix used a major New Orleans law firm to write the contracts but the court ruled that the contracts were a violation of the lease and the Judge cancelled the entire lease. George Denegre, Esq. of Liskow and Lewis believed that the contracts were a violation of the lease but our other attorneys believed we should have prevailed. All attorneys believe that the ruling was excessive with the cancellation of the lease. Phoenix has posted its bond and filed its appeal and expects to continue to operate for at least the next eighteen months while the appeal is litigated.
Phoenix has extremely strong case law and rulings by the Court of Appeals in other cases that indicate it should prevail and should be able to continue operations until 2023. Because of this strong belief, Phoenix is continuing to invest millions into the improvement of the MS&G mining operations regardless of the court's ruling. These cases will not affect the continued advancement of the interests of Phoenix and its stockholders regardless of their final outcomes.
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Phoenix Updates on Murphy Sand & Gravel Legal Activities Notice of Eviction and Action to Increase Bond Set Aside by Presiding Judge; Appeal Process to Go Forward With Decision At Least 18 Months in the Future; Expansion of Dredging Capacity Moves Ahead as Planned
Last Update: 12:23 PM ET Nov 6, 2006
MADISONVILLE, LA, Nov 06, 2006 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (PINKSHEETS: PBLS), a holding company with assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, trucking, contract hauling, construction, swimming pool construction and construction related industries, today updated shareholders on status of certain litigation matters relating to its Murphy Sand & Gravel (MS&G) business unit. Phoenix had its day in court on Friday, November 3rd, relating to a motion of eviction from its Pearl River mining site and a motion to increase the current "bond" of $100,000 in cash to $20 million. Phoenix is please to report that the Judge acted in favor of Phoenix regarding both motions, thus dismissing both the motion to evict and the motion to increase the bond, thereby reaffirming the $100,000 cash bond that is already in place. Management indicated that with these two Court decisions moving in favor of the Company, the appeal process will now go forward for at least 18 months, and the upgrading and acceleration of its mining operations that is already well underway will proceed unabated. Phoenix continues to believe it has extremely strong case law and prior rulings by the Court of Appeals in other cases that indicate it should prevail and should be able to continue operations until 2023. Phoenix confirmed that a new screening plant with conveyers, two radial conveyers, and a 10 X 8 fully equipped dredge were delivered last week and are now in the process of being assembled and put into operation. The Company anticipates that all of the upgrades in mining equipment announced recent news releases will be in full operation by the start of Q1-2007. About Phoenix Associates Land Syndicate (PBLS) Phoenix Associates Land Syndicate (PINKSHEETS: PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction related industries. For more information, visit www.pbls.biz.
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Phoenix Associates Adds Strong Professionals to Its Construction Division Leadership Thursday January 4, 5:00 am ET
The Addition of WC "Doc" Starling, a Highly Credentialed Licensed Construction Contractor, and Clifton C. James, a Renowned Architect and City Planner, to the Construction Divisions Positions Phoenix for Growth in the Sector; Expected to Enhance Larger New Orleans and Gulf Region Project Opportunities
MADISONVILLE, LA--(MARKET WIRE)--Jan 4, 2007 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced WC "Doc" Starling, a licensed contractor, has joined Phoenix as a Director in the construction division and the brokering division; and Clifton C. James, a licensed architect and contractor, is now working in the architectural and planning section of the construction division.
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Phoenix Adds to Its List of Real Estate Holdings Monday January 8, 5:00 am ET
This 32 Unit Town Home Project, Acquired for $11 Million, to Be Expanded by 32 to 35 Additional Units; Clifton C. James, Renowned Architect and Planner, to Do the Architectural Planning, Site Beautification and Development
MADISONVILLE, LA--(MARKET WIRE)--Jan 8, 2007 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) announced today that it has purchased a 12-acre Town Home project located in Madisonville, Louisiana.
Phoenix acquired this property for $11 million, and borrowed $6.5 million from Madison Realty Capital of New York City to complete the purchase.
This project includes 32 Town Home units that are to be converted from rental property to be sold as luxury Town Homes. The company expects to add another 32 to 35 Town Homes to the property, to be built by Phoenix's construction company, 3-D Builders.
Clifton C. James, the renowned architect and city planner, and new member of our company, will do all of the architectural planning and site beautification and development.
Phoenix already has three units being remodeled as current leases have expired. Those units will be sold upon completion. One unit, called the Harbor Master unit, sold within days of the purchase.
Mr. Alonzo, President and CEO of Phoenix, stated, "Since Hurricane Katrina, demand for quality living properties on the North Shore of Lake Pontchartrain has soared. New homes are being built as fast as possible, but cannot keep up with demand. This project is located directly on the Tchefuncte River at its widest part. It is just minutes from Lake Pontchartrain."
The Company currently forecasts this project, from start to sold out, will be 2-3 years and profits from this project are expected to exceed $10 million for Phoenix and its involved subsidiaries, which include 3-D Builders, 3-D Rock Creations, TCB Property Management and PBLS, LLC, which is a Nevada LLC owned solely by Phoenix with its sole asset being this development.
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands of stockholders, that has purchased motivated companies in order to enhance its assets and income basis. Since 1978, PBLS has developed assets and/or interests in aviation, sand & gravel, soil products, land development, oil and natural gas, commodity brokering, plumbing, trucking, contract hauling, construction, swimming pool construction and construction-related industries. For more information, visit www.pbls.biz
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Phoenix Signs $20 Million Sand & Gravel Contract Contract With Cherokee Environmental Construction, Inc. for Aggregate and Sand From Its Murphy Sand & Gravel Site in Pearl River PrintE-mailEnable live quotesRSSDigg itDel.icio.us
Last Update: 5:01 AM ET Feb 20, 2007
MADISONVILLE, LA, Feb 20, 2007 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced a contract signed with Cherokee Environmental Construction, Inc. for up to $20 million in aggregate and sand to be mined at the Murphy Sand & Gravel (MS&G) mine site in Pearl River, LA, and to be delivered to Cherokee in increasing quantities over the next twelve months. Paul Alonzo, President and CEO of Phoenix, commented, "Back in October we announced that we were moving forward to greatly increase the production capacity of its MS&G mining site. With that expansion underway we are well equipped to handle the increasing volume requirements of our new contract with Cherokee." Mr. Alonzo continued, "We plan to continue to move a vast amount of new mining equipment to the MS&G mine site over the next few quarters so we will be prepared to meet the growing demand from Cherokee and other potentially larger contractors in the Greater Gulf region for products that come out of our Pearl River mining operation. Based on our latest expectations for MS&G, we anticipate full depletion of the mine to likely occur in five to seven years."
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