Investor Relations Mike Mulshine Osprey Partners (732) 233-3853 osprey57@optonline.net
----------------------------------------------------------- Current Market-cap based of $.03 PPS = $14 million
466 million outstanding shares, per mid-August 2005 call with CEO. Float 159 million ----------------------------------------------------------
Projected earnings for 2005 of $10 million, per call with company (pre Katrina, pre oil deal) $10M/ 466M o/s = 2.15 cents per share of earnings Apply a typical 15X multiple for $0.32 share price [A growth multiple would be 25X or $0.54 share price] ---------------------------------------------------------
For 2006 earnings add in all the Katrina work, plus recent/new acquisitions Estimate that to be $25 million for 2006 and assume 100M more restricted shares $25M/566 o/s = 4.4 cents per share of forward looking 2006 earnings Apply a typical 15X multiple for $0.66 share price [A growth multiple would be 25X or $1.10 share price]
(this is just me making a somewhat educated guess) ------------------------------------------------------------
Murphy Sand & Gravel division (820 acres)-- Reserves estimated at $260 million (more recent company materials also show $300 million, like the Sept. 6, 2005 PR).
February 1997 gave us an estimate of “$260 million based on the lowest prices charged by each of the other mining operations in the area for like products” (source: June 14, 2005 news release)
That evaluation is from almost 9 years ago… based on “lowest prices charged”.
Estimate that the sand and gravel property re-evaluation comes in over $600 million (“at least double” Investor Relations, Mike Mulshine 14/9/2005). With 466 million shares out, that’s over $1.28 per share in sand/gravel reserves. ------------------------------------------------------------
Satellite picture of the mine. Right on I59 (just a few miles from I10 as well) and if you look closely the railroad runs parallel to I59 right beside the mine.
News Release Aug 03, 2005 -- Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) today announced that Dennis Kowalski of Kowalski & Associates has completed an initial review of the Company's Balance Sheet for the period ended December 31, 2004. This balance sheet, while unaudited, represents that the total stockholders equity (net worth) of Phoenix is about $39.7 million. Mr. Kowalski's firm has been contracted to audit 2003, 2004, and 2005 and will work in conjunction with the law firm of Dickinson/Wright to help make Phoenix a fully reporting company by mid to late 2006.
-------------------------------------------------------------- News Release Aug 08, 2005 Mr. Alonzo, President and CEO of Phoenix Associates Land Syndicate, announced that the Board of Directors made the decision to accelerate this process in an attempt to increase the price of our stock for our shareholders of the company. Our accountants and legal team will proceed with all possible haste to make our fully reporting status become a reality in the shortest amount of time. -------------------------------------------------------------- New Release Aug.10, 2005 Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) is very pleased to announce that in its ongoing efforts to support Phoenix stock and supply the best value for shareholders, President Paul Alonzo has decided to increase the amount offered per share for the unlimited repurchase of PBLS common stock to $0.0041 ------------------------------------------
Current operating Business Units are:
*Murphy Sand & Gravel Murphy Sand & Gravel (MS&G) in Pearl River, LA is an 820 acre operational mining site with enough raw materials (aggregate and sand product) to support an estimated 30+ years of continuous mining at profitable levels. This type of mined product supplies the concrete manufacturing and building materials industries and is also an integral component of the road and highway construction industry, supplying the latter with a steady stream of the base materials needed to build new roads and improve old ones. In an effort to increase its output capability, MS&G has added some new digging equipment and modified/improved some its existing machinery, all of which will help increase its “operational efficiency to profit ratio”.
Currently, MS&G sells into the local Southern Louisiana and Mississippi areas, but is expanding its sales regionally into the greater Southeastern area of the country as construction activity increases. Now and into the future, Murphy Sand & Gravel is and will be the cornerstone of the “Phoenix Family of Companies”.
*Heaslip Construction Heaslip Construction (HC) was organized in 1960 as a real estate land and housing development and construction company.
It has successfully created, developed and built a number of complete, large scale residential sub-divisions, as well as numerous commercial office buildings. Acting as a developer/builder, the company has maintained a high level of product quality control. This in turn, has resulted in the company’s reputation being that of a “high quality with sound value” provider in the Southeast regional construction market. Currently, HC has one major development commitment which includes the creation of a residential sub-division made up of hundreds of homes in a very high-growth area of the Southwest. It also has a number of other residential and commercial projects it is negotiating located in both the Southeast and Southwest areas of the United States. As Heaslip Construction develops these projects, it will continue to grow profitably and add asset value to Phoenix
*Bayou State Trucking Bayou State Trucking is currently hauling for several companies such as: Lafarge Concrete Company, Durr Heavy Equipment Company, Tammany Holding Company, Carlo Ditta Concrete Company and Fred Everhardt Construction Company. The bulk of the hauling is being done within the cities of Covington, Hammond, Lacombe and Slidell, Louisiana. Many of these companies, including Durr Heavy Equipment and Construction Company, count heavily on Bayou State Trucking. Durr is currently doing parking lots and storage facilities in the cities of Madisionville and Lacombe, Louisiana. Bayou State Trucking was just recently hired to do extensive hourly hauling for Tammamy Holding Company near the foot of the Interstate 10 twin spans in Slidell, Louisiana. Everhardt Construction Company, also hired Bayou State Trucking, and is about to begin construction of roads and lots in the Story Park Subdivision, located in Meraux, Louisiana. This project will last anywhere from ten months to one year.
Bayou State Trucking has a working fleet of trucks totaling around sixty plus units, and this number of available trucks is increasing daily. These trucks include flat beds, tractor trailers, tandems and tri-axles. Many more trucks are becoming available, for Bayou State, as jobs in the area continue to increase.
Bayou State Trucking will continue to search for new projects requiring more trucks and truckers. Paul Alonzo stated that "Mr. Zornes is doing an exceptional job in growing Bayou State Trucking's foothold in South Louisiana." ---------------------------------------------
Phoenix Associates Releases Unaudited Balance Sheet for Year Ended December 31, 2004
COVINGTON, LA, Aug 03, 2005 -- Phoenix Associates Land Syndicate (Phoenix) (OTC: PBLS) today announced that Dennis Kowalski of Kowalski & Associates has completed an initial review of the Company's Balance Sheet for the period ended December 31, 2004. This balance sheet, while unaudited, represents that the total stockholders equity (net worth) of Phoenix is about $39.7 million. Mr. Kowalski's firm has been contracted to assist the selected audit firm to audit 2003, 2004, and 2005 and will work in conjunction with the law firm of Dickinson/Wright to help make Phoenix a fully reporting company by mid to late 2006.
As indicated by Mr. Kowalski, this unaudited compilation consists of presenting, in the form of financial statements, information that is provided by and is the representation of management. He has not audited the accompanying financial statement and, accordingly he does not express an opinion or any other form of assurance regarding the statement. It is management's intent that a full audit be performed for the years ended December 31, 2003, December 31, 2004 and December 31, 2005. It is anticipated that the audits for the years 2003, 2004 and 2005 will begin in the fourth quarter of 2005. Management does not anticipate material changes as a result of the upcoming audit.
Mr. Kowalski indicated that management elected to omit at this time, with the exception of those listed below, all disclosures and accompanying footnotes, until such time as the audits are performed. As a result, the attached unaudited balance sheet for the year ended December 31, 2004 is not designed for those who are not informed about such matters.
* Land access: consists of a rights agreement initiated on August 29, 1997, including (5) five-year renewals into 2023.
* Depletable property: a percentage of proven mineral reserves totaling $266,000,000.
Paul Alonzo, CEO of Phoenix, stated, "I have made the decision to release this preliminary balance sheet information in the spirit of providing as much information to our investors as can reasonably be made available on a timely basis, as we prepare for the full audit of our financials, and work toward Phoenix becoming a fully reporting company. We are pleased that this preliminary information provides an indication to our shareholders that Phoenix has a net worth of about $39.7 million, based on what we believe to be conservative estimates of the full value of our mineral rights."
Phoenix Associates Land Syndicate Consolidated Balance Sheet (Unaudited) As of December 31, 2004 Assets Current Assets: Cash and cash equivalents 60,676 Accounts receivable 83,000 Inventories 9,500,000 --------------------- Total current assets 9,643,676 Fixed assets: Property, plant & equipment 1,918,300 Accumulated depreciation (455,490) Land access * 850,000 Accumulated depreciation (238,000) Depletable property * 26,000,000 Accumulated depletion (6,240,000) Leasehold improvements 18,527,500 Accumulated depreciation (4,323,083) --------------------- Total fixed assets 36,039,227 Other assets: Prepaid expenses 0 --------------------- Total other assets 0 Total assets 45,682,903 ===================== Liabilities and Stockholders' Equity Current liabilities: Accounts payable 6,382 Current portion of long term debt 0 Other current liabilities 741,467 Other accrued expenses 7,425 --------------------- Total current liabilities 755,274 Non-current liabilities Note payable - stockholder 378,176 Interest payable 30,765 Other non-current liabilities 4,859,382 --------------------- Total non-current liabilities 5,268,323 Stockholders' equity Preferred stock - affiliates 5,045,000 Common stock, .01 par value, 214,402,969 shares issued at December 31, 2004 2,144,030 Paid - in - capital 33,327,719 Retained earnings (857,443) --------------------- Total stockholders' equity 39,659,306 Total liabilities and stockholders' equity 45,682,903 =====================
Notes to accompanying statement of assets, liabilities and stockholders' equity: Phoenix Associates Land Syndicate
(PBLS) OTC Pink Sheets
I have compiled the accompanying statement of assets, liabilities and stockholders' equity in accordance with Statements on Standards for Accounting and Review Services issued by the American Institute of Certified Public Accountants.
A compilation consists of presenting in the form of financial statements, information that is provided by, and the representation of management. I have not audited the accompanying financial statement and, accordingly, do not express an opinion or any other form of assurance regarding the statement. It is management's intent that a full audit be performed for years ended December 31, 2004 and December 31, 2005. It is anticipated that the audits for years 2004 and 2005 will begin in the fourth quarter of 2005. Management does not anticipate material changes as a result of the upcoming audit.
Management has elected to omit at this time, with the exception of those listed below, all disclosures and accompanying footnotes, until which time as the audits are performed. As a result, this financial statement is not designed for those who are not informed about such matters.
Land access: consists of a rights agreement initiated on August 29, 1997, including (5) five-year renewals into 2023.
Depletable property: a percentage of proven mineral reserves totaling $266,000,000.
For More Information Contact: Ron Blackburn (985) 845-4627
Mike Mulshine Osprey Partners (732) 233-3853
KOWALSKI & ASSOCIATES 3230 Central Park West. Suite 202 Toledo, Ohio 43617 Office: 419.517.4847 Fax: 419.517.4850
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posted
The canals will remain closed until the threat of severe weather passes. More than 800 filled sandbags are on hand, and an additional 2,500 have been ordered.
posted
Progress Continues on Hurricane Katrina Cleanup Efforts
Washington, DC, Sept. 20 – In support to the Federal Emergency Management Agency, the U. S. Army Corps of Engineers continues to work with local, state and federal partners, to bring relief to the Gulf Coast following Hurricane Katrina. Nearly 2,400 Corps employees are actively engaged in recovery efforts.
With more than $2.9 billion in missions, the Corps is working closely with government agencies and private contractors to meet the most urgent needs of providing ice and water, temporary roofing, temporary housing, power assessment, and debris removal across the area impacted by Hurricane Katrina.
In preparation for potential impacts by Hurricane Rita, the Corps of Engineers is preparing for the storm by pre-positioning personnel and equipment. The Corps will continue to closely monitor the path of the upcoming storm. (More...)
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