Hey gang this is a quote from an email with Mike Mulshine in regards to the 7 companies being consolidated. Hope this helps everyone.
"What he was talking about is the "merging" of a bunch of the business units that are in basically the same business, so as to have fewer "corporations" or companies to audit and financially consolidate, while also gaining on reductions in overhead that might come with consolidation of activities under fewer companies."
posted
I'm still holding. I still have a bunch of hope...but I'm not watching the day to day price swings any longer..no sense in it..it's to darn depressing!
Posts: 1443 | Registered: Apr 2006
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posted
I have a ton. I just added on Friday Figure buy low
Going over all the PR's for the last several years and tracking them with the PR's and volume and with bestjets in the mix I expect and hope for a good boost soon
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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posted
A pr will be coming but I think the company or P/A stuck his foot in his mouth with go jets . And he stated he was going to clam up for a while. There is big things ahead for us it just going to be a long time before something comes along to blow the stink off of this. Then we will see some action . I think P/A should give us investor's a nice forward split like 2 for 1 that would be a nice thinfg to do for us
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
I hope they dont do a f/s. With all those shares hitting the market it would drive the sp down to subpenny. What they need is accountability like share structure and an ungagged TA for starters.
Posts: 188 | From: illinois | Registered: Jan 2004
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Volumes been up about 37% the last 20 days. Anyone suspect the unspeakable - dilutuion ?
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Dilution happens, gotta take it or leave it...I dont think the company is doing this RIGHT NOW though..
IF they diluted right now it would not make sense, if they were to dilute I would think they would be a little more secretive about it, and do it a little above average volume...
I dunno about the shorting but i think there is some going on, not sure about the extent of it though..Real I think might have hit part of it on the head, with triggers included in the past deals that might have induced selling...I also think people are sick of waiting and as each day goes by people from pre katrina keep dumping a little more to find a better pick for the present..JMO ofcourse!!
I will be watching tomm and the rest of the week, to buy a few more shares, and then flip 50 percent until financials...
Posts: 381 | From: Cincy | Registered: May 2006
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posted
Gnu, if you are thinking subpenny, I wouldnt buy tomm or the next day...IF it does go subpenny it wont be til next week....and I dont think subpenny will come... although I will be watching and if I dont see a solid base the next day or so, I might agree with ya...
Posts: 381 | From: Cincy | Registered: May 2006
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posted
Special it looks like I will have to wait until at least tomorrow to buy anyway. Stupid ameritrade holds funds for 2 days before allowing me to purchase OTC securites. Just plain sucks I tell ya.
Hey I hope we don't hit sub penny either. I think we will show a lot of resistance between here and 1 cent. If it does break the 1 cent mark watch out below tho!!!
I really hope we don't break sub-penny! If the TA is ungagged, would there be hope for PBLS? What is it going to take for this to go back to the 3 or 4 cent range? I remember Persia mentioning she had sold all at 0.024 and me thinking it would never drop below 2 cents. Anyway, anyone have any ideas, insights, comments. Anyone been in touch with PBLS HQ and probed what their deal is?? I'm back into full swing with teaching public schools, and my days are pretty hectic. Anyway, venting again... Hope you all have a great day, and happy trading!
posted
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."
Mr. Alonzo added, "You can anticipate additional news to be announced shortly about each of these newly acquired Best Jets businesses."
Posts: 1097 | Registered: Jun 2005
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posted
yeah stick I jumped the gun with that statement...I knew it as soon as I hit submit. Well since this news isn't going to hold it up I figure I will hold off buying for a couple of more days.
For what's its worth the next batch of shares I buy are for trading. I have a core position that I will hold for the long haul, but I'm going to start trading this stock until PA opens up.
posted
It would have been wise for them to actually put some revenue numbers in the damn PR. I really wish they would get a professional to write their releases. Sometimes it seems like they dont have a clue as to what they are doing. This isnt gonna move dramatically without numbers...hope they are coming.
Posts: 1351 | From: Phoenix Az | Registered: Nov 2005
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I kind of agree, but revenue numbers are almost worthless. I want to know how much profit the company makes and how they believe the integration with other PBLS units will boost profits.
Revenue Schmevenue. I won't profit numbers. I'm certain PBLS is makeing a profit. The fact that they could get such favorable lending terms almost proves that.
posted
Today's PR would have been better if it also spelled out a bit more deliberately what amount of the purchase is being financed via the loan. Why not include that in the pr? Nothing is more damaging than uncertainty, which has been driving this stock lower over the past few weeks. But like others on this board, I'm still long (around 300,000 shares so I'm a smaller fish). I've been asking myself where there's a better play related to the opportunity that rebuilding New orleans and the gulf coast presents (a perhaps once in a lifetime investing event)and I can't think of a better company positioned for that, and so cheap to buy into.
Even with sagging new home sales nationwide, none of that matters in New Orleans, where costruction will go on for years. It's immune on that score to a large degree because of the devastation wrought.
I also finally got through Paul's interview on *** - a poor job on the gagged TA response. That alone shook the short term players out of the tree I bet. I'm not a savvy pink trader, so I'm not sure how unusual a gagged TA is under these circumstances, or is it the length of time the TA has been gagged that is the bigger concern?
I bought into PBLS because it's multi-dimensional (many companies, different business lines) which I thought wise for one of my early forays into the pinks. It made sense since my investment dollars weren't going into one basket and into some speculative company (as paul mentioned in the interview - they're a bricks and mortar company, nothing flashy, just hopefully owning the right things in the right regions and at the right time). Despite the slip in the stock, I don't see a reason to think otherwise. It's this diversity that ironically is slowing down the independent audit and now hampering the run-up I expect. But I can wait. I work at a large company, involved in Sox compliance among other things, and for folks new to that game, and even auditors doing it as a living, each audit is its own animal. I don't see a reason to discount entirely Paul's claim that it's more complicated than they thought.
We need to see some real results in the drilling (to remove that bit of speculation), we need to hear more talk of profit, more direct announcements of debt (I expect it, just put it on the table, I'd rather have that (in moderation) than a lot of dilution), and we need the share structure confirmed. I expect to add to my postition in the next few days as well.
As a friend and I were saying, the slipping price can mean, buy, cry, or bye - I'm in the buy camp.
Posts: 17 | From: US | Registered: Jul 2006
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posted
you all should follow the rest of the sheeple and panic and sell. the only way to make $$ is to hold and wait for old mudbug, PA, to get his crap together and become transparent. i will wait till the insensitive, arrogant, toolshed is ready, after all it is his company. still laughing over his message to shareholders about how he let the bag out on bestjets, then chastised us for doing some dd and went into his "quite period". ironicly, thats when the pps started its big drop. maybe this was his plan to buback more shares at discount prices, but i doubt it. i wonder what the companies that recieved shares for purchase think about PA and his "quite temper tantrum"
Posts: 32 | From: Colorado | Registered: May 2006
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quote: 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.
So let's break this down.
1. They paid less than 6 million and dilute less than 20 million shares.
2. Paying less than 10 million for 17 million profit and a lot of upside is a helluva deal.
3.The dilution is incremental over a 5 year period.
What is not to like? What more can you ask?
Posts: 660 | From: Kansas | Registered: Mar 2005
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posted
What they have done is set up cross country fueling stations where you don't have to fly into a major airport, making fueling a lot easier. At these locations you have some mechanic stuff set up and offered.
I agree they are being punished for lack of transperancy, but I think it is above and beyond punishment. Even with max AS this company should trade over .50.Posts: 660 | From: Kansas | Registered: Mar 2005
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