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Author Topic: PHSLE, BACK ON THE GAME!!
stockdoesgood44
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Hey Boys! Apparently we're back on the game, up 30% so far....any further thoughts?!
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bauer
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I see it up 7%
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The Hippo
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up 30% from what?
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stockdoesgood44
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My bad....I meant to say from Thursday when it went down to the hole and it is back up again, sorry boys! It's going up though.....does anybody know how the future is looking like for this one?
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rajarammx
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I will be out at 0.29...where I am in at...Lets see if it gets there some time soon....

------------------
GLTA

Raja

Always do your DD before Investing or Daytrading


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Bob Frey
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You folks know the future of this stock is 0. Unless something major changes and this would be very unlikely.
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realityinc21
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HAVE THEY FILED THIER LATE SEC FILINGS THAT WERE DUE THE 15TH OF APRIL? I CAN'T FIND INFO. THAT COULD BE WHY THEY ARE MOVING!!IMHO

THANKS

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DIANA


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rajarammx
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No, not yet Diana.

------------------
GLTA

Raja

Always do your DD before Investing or Daytrading


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The Hippo
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thats what we are waiting for... that, and a free subscription
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McClymont
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"You folks know the future of this stock is 0. Unless something major changes and this would be very unlikely."

Whya are you so sure Bob. Not doubting you. Just wondering.

Alan.....


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Bob Frey
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Read the PR's & fillings they have not offerd anything in the settelment to the common share holders.
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realityinc21
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IMHO THIS STOCK COULD HAVE HUGH POTENTIAL. SEEMS LIKE WHEN A PERSON MAKES A STATEMENT THE SHOULD POST ADEQUATE DD TO BACK UP THE STATEMENT. IMHO

LATE SEC FILING.. HUGH PROBLEM..

Penthouse International Inc
11 Penn Plaza
New York, NY 10001

Telephone: 212-702-6000

52 week range $ .08 –$ 2.89
Closing Price (04/17/04) $0.252
Market Capitalization $46.67 million
Basic Shares 186.7 mil. (DEC 1, 2003)
Insider Ownership 84%
Est. Public Float 40 mil.
10 Day Average Trading 8,710,000

COMPANY DESCRIPTION
Penthouse International, Inc. (OTC BB: PHSL), through its 99.5% owned subsidiaries General Media, Inc., a brand-driven global entertainment business founded in 1965 by Robert C. Guccione. General Media's PENTHOUSE brand name is one of the most recognized consumer brands in the world and is widely identified with premium entertainment for adult audiences. Through General Media, the Company caters to men's interests including several trademarked publications, movies, the Internet, location-based live entertainment clubs and consumer product licenses. General Media licenses the PENTHOUSE trademarks to third parties worldwide in exchange for recurring royalty payments.

The Company's subsidiary General Media sought voluntary bankruptcy protection on August 12, 2003 in order to reorganize its debt and obtain a $6 million debtor-in-possession credit facility to continue normal operations throughout a restructuring period. In December 2003, the Company filed a proposed Plan of Reorganization with the United States Bankruptcy Court. Penthouse International, Inc. owns 99.5% of the capital stock of General Media. Penthouse (the parent public company) did not file for protection under the Bankruptcy Code and its activities are not subject to Bankruptcy Court Supervision. For the quarter ended December 31, 2003, General Media reported consolidated net revenue of $12,601,489 and consolidated operating income of $3,466,160. The resulting increase in net income was attributed to the subsidiary resuming publication of its six magazines that had previously been suspended for a part of 2003. Recent financial results indicate that General Media is on track to restoring its liquidity and enhancing its competitive position in the marketplace. .

KEY DEVELOPMENTS
With a focus on diversification, Penthouse recently acquired iBill (Internet Billing Company LLC) and Del Sol Investment LLC.

Del Sol Investment LLC is a a Mexican real estate development company that holds or has rights to 370.5 acres of land with oceanfront property in Zihuatanejo, State of Guerrero, Mexico. This property, independently valued at $107 million, will be developed for the purpose of offering Penthouse fans and other consumers a world-class vacation experience. Del Sol Investments recently engaged the engineering firm of Ulate, a specialist in large scale resort developments, master planned communities and urban city planning in Latin America. Estimates of the Company's engineers indicate that its property should accommodate at least two beachfront hotel resort complexes, one 18-hole championship golf course and 2,500 residential units.

Acquired on March 2004, for $34 million, Bill is a provider of turnkey e-commerce solutions for businesses selling products and services over the Internet. iBill provides secure Internet payment processing solutions and transaction services that enable Web Merchants to accept and process real-time payments for goods and services purchased on the Internet. iBill also manages all back-office functions including reporting, tracking, customer service and sales transactions.

During its seven-year history, iBills yearly processed transactions have grown from approximately $2.4 million to over $330 million last year. To accommodate its business growth, the iBill organization has grown to approximately 220 persons, occupying a 50,000 square foot facility located in Deerfield Beach, Florida. iBill was acquired from Intercept, Inc. (Nasdaq: ICPT), which divested of the iBill division as part of a plan to focus on its core business of outsourced technology solutions to community banks.

By diversifying entertainment options to consumers, the Company is poised to build and refresh multiple revenues stems and earnings and deliver dynamic growth opportunities to continuously build shareholder value.

TRADING PATTERN ANALYSIS

PHSL traded very strong on volume up ticking with strong accumulation headed into next weeks trading. The PPO very strong with a confirmation MA20 line. The Price Oscillator is 22.84 which means the price movement is accelerating forward. +DX at 36.7% indicating solid strength.

A PHOENIX ARISING
This is a rebirth of an American Icon, much like Chrysler and Harley Davidson, Penthouse has been given a second life by a white knight investor, Dr.Molina et al, who has secured and invested millions in both equity and debt. He presently owns or controls at least 80 percent of the issued and outstanding stock- a solid indication of commitment by many standards.

PRICE TARGET
With the uncertainties lifted by a release from bankruptcy of its subsidiary, General Media, and the resumption of publication of its flag ship PENTHOUSE combined with new revenue producing acquisitions, PHSL is staged to be revalued by the investment community.

Look to see this Company begin to fully reflect the positive developments and financial restructuring. A near term double with a price target north of $1 by Falls appears reasonable.

NOTE
It should also be noted that the 2004 annual report which was due 3/31/04 and extended to 4/15 has not as of 4/16 been filed with the Securities and Exchange Commission.

The reasons stated for the late filing are as follows:

Penthouse has recently completed an offering of its convertible senior secured notes in the principal amount of approximately $24 million (the "Laurus Offering") to the Laurus Master Fund. The completion of the Laurus Offering was announced by press release dated February 24, 2004.

A subsidiary of Penthouse has recently executed a member interest purchase agreement pursuant to which Penthouse acquired 100% of the equity of Internet Billing Company LLC ("iBill"). The transaction, valued at approximately $23.5 million, included a $20.0 million assumption by Penthouse of certain obligations relating to iBill. The execution of the member interest purchase agreement was announced by press release dated March 23, 2004.

Penthouse has recently completed an offering of its convertible preferred stock in the principal amount of approximately $4 million (the "Mercator Offering") to the Mercator Advisory Group, LLC. The completion of the Mercator Offering was announced by press release dated March 24, 2004.

Penthouse is in the process of negotiating the terms under which it expects its subsidiary General Media (and its direct and indirect subsidiaries) to emerge from bankruptcy proceedings.

Finally, Penthouse is presently negotiating terms of an engagement letter with a firm of certified public accountants that it intends to retain as its independent auditors.

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DIANA


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realityinc21
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Read the PR's & fillings they have not offerd anything in the settelment to the common share holders.

UNFORTUNATELY THAT IS WHAT BANKRUPCY IS ABOUT. ELIMATING ALL DEBT WITH OUT CONSIDERATION. SOME PEOPLE GOT SCREWED. THEY SHOULD HAVE SOLD OUT IMEDIATELY AND TAKEN THEIR LOSS. NOT HELD ON AND MOVED ON.

NOW WE ARE TALKING ABOUT TRADING A COMPANY THAT HAS NO DEBT. COMING OUT OF BANKRUPCY WITH A CLEAN SLATE. YEEE HAAAA

POTENTIAL IS PRICELESS

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DIANA


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McClymont
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I am pretty new to this and realize that the late filing is a pretty big problem but do you guys really think that they won't make the 30 day cut off point. From what I read they also had legitimate reasons for the late filing.

Anyway, thanks for the answers.

Alan......


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roger7485
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It is my understanding that their wholly owned subsidiary General Media was bankrupt, not PHSL. Thus PHSL shares and shareholders are completely safe. PHSL went in and helped to reorganize their subsidiary who had to file bankruptcy.
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Bob Frey
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The only real asset PHSL had is General Media.
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realityinc21
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I am pretty new to this and realize that the late filing is a pretty big problem but do you guys really think that they won't make the 30 day cut off point. From what I read they also had legitimate reasons for the late filing.
Anyway, thanks for the answers.

MAJOR AREA OF CONCERN. NOT GOOD..BUT NOT UNHEARD OF.

PHSL IMHO--WAS JUST AS BANKRUPT. POTATOES--POTATOES..

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DIANA


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killpack
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If you like very high risk-have at it. I surely would not put any big nest-egg in though.
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roger7485
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True Bob, but the acquisition of IBILL is huge to say the least.
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rajarammx
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Not a bad close for today...hopefully this ascends up in the next days....once the E is gone this should go past 0.30....

------------------
GLTA

Raja

Always do your DD before Investing or Daytrading


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realityinc21
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True Bob, but the acquisition of IBILL is huge to say the least.


Good point. I see future. I day traded twice on the small run and a small bounce.

I keep watching. Ya just never know.

------------------
DIANA


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stockdoesgood44
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Im new around here....I was wondering what the E was about and when it will go away?? and how it affects the company?? Thanksss!
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Bob Frey
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http://www.allstocks.com/edu/html/nasdaq_info.html

Check the above for the e and other 5th letters


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stockdoesgood44
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Thanks Bob....is it ever gonna get rid of it?
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