Post A Reply
my profile
login
|
register
|
search
|
faq
|
forum home
»
Allstocks.com's Bulletin Board
»
Micro Penny Stocks, Penny Stocks $0.10 & Under
»
PBLS..........
» Post A Reply
Post A Reply
Login Name:
Password:
Message Icon:
Message:
HTML is not enabled.
UBB Code™ is enabled.
[QUOTE]Originally posted by realperson: [QB] Phoenix Associates Issues Message to Shareholders PrintE-mailDisable live quotesRSSDigg itDel.icio.usLast Update: 12:36 PM ET Jul 31, 2006 NEW ORLEANS, LA, Jul 31, 2006 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (PINKSHEETS: PBLS)( [URL=http://www.pbls.biz)]www.pbls.biz)[/URL] 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 [URL=http://www.pbls.biz]www.pbls.biz[/URL] [/QB][/QUOTE]
Instant Graemlins
Instant UBB Code™
What is UBB Code™?
Options
Disable Graemlins in this post.
*** Click here to review this topic. ***
Contact Us
|
Allstocks.com Message Board Home
© 1997 - 2021 Allstocks.com. All rights reserved.
Powered by
Infopop Corporation
UBB.classic™ 6.7.2