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Oil, once you have posession you can sell them in 1 day's time. It's a matter of driving to a local broker office and handing them the certs. The next day they are available for trading....yes I checked into this before ordering my certs.
There are benefits to having actualy possesion of certs. In fact I recall a couple of instances with PBLS were those that had certs recieved a very nice reward....I believe something along those lines is coming again, only this time it will be a little bit different...and much more likely to succeed for those that participate.
For what it's worth I hate the fact that I even feel the need to order my certs. It's a crooked world we live in...
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I Travel through that area lots of times with an 18 wheeler. There are lots of places that have wgt restrictions now after the flood.... Lots of roads I am not allowed to drive on... Drive for JB Hunt Transport
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I still say you dont NEED physical possession. But,if it makes you happy and fits yer pistol, have at it. Pauls not nailing my feet to the floor! I work 24/7/365 in the field,so it wouldnt be an option for me...even if I wanted to, which I dont!! By the way, I liked they "became aware" of shareholders concerns about the pit. Are they "aware" of shareholders bloodbath in their stock? This is a very very sick stock. So far naked shorting has'nt reared its head, so dont know what "they" can do about something that may not exist. The problem may be...offshore.
-------------------- It takes a lot of attaboys to make up for an aww chit
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I have a feeling the company knows a good bit more about the short position on the stock than the investors. Who's to say they haven't ordered the NOBO list themselves? Perhaps they don't want everyone in the world to know what they are up to....yes I'm just speculating here.
Truth is I have know idea what is going to happen, but I have a "feeling" that it is going to be pretty rewarding for those that are willing to stick it out for a few years.
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Well, the stock "went sick" after they doubled the AS. Daily volume has increased dramatically since July. Price falling at the same time.hhhmmm. I dont believe that's a coincidence. JR checked and shorts was 5000 shares for September, on high daily volume and falling price.Be interesting to see what Octobers numbers are. There are a ton of shares flooding in, but, I dont believe they are bogus or naked short. I think they are....legit.
-------------------- It takes a lot of attaboys to make up for an aww chit
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"There are a ton of shares flooding in, but, I dont believe they are bogus or naked short. I think they are....legit."
That my man is the million dollar gamble we are all making. I'm betting that those shares aren't real. I'm betting that the OS for the company is under 750M with 40% restricted. I'm betting we are going to see a very interesting use for the 250M prefered shares the company needed when they raised the AS. I'm betting that right now today I can account for over 90% of the shares in the public float just form investors I talk with offline and guestimates and such...ok so I can't be certain of that.....
Of course You might very well be right. If fact all the signs say you are right. Everything is right in place for this to be the scam of the century. I can't question what you or Will are saying. It looks damn ominous from a first perspective. But dig in behind the scenes. Get to know a few people close to the company or companies we buy. Start trying to see it from PA and RB's perspective and an entirely different perspective unfolds.
----------SPECULATION SECTION-------------- I think PBLS will be able to account for every single legitmate share in the next year. I bet once they can they delist from the pinksheets and relist on an exchange like the London...were shorting isn't allowed. I bet that investors that have certified shares are going to be handed a silver spoon. I bet we get audited numbers sometime early next year..and I bet they show a profit of about 20M for 2006.
WITH THAT SAID ANYONE WHO TRADES BASED ON MY SPECULATION IS A FOOL! DO YOUR OWN DD. Yes I've done a lot of dd and yes I have reason to believe everything I just posted....but that doesn't mean I'm right and you should blindly follow me. I'm prepared to loose every dime I have invested in this company...christ I've already lost 70% of it!
Oh and I think today was the start. I think news may have leaked out to the market...it seems news always hits the price before the market wire.
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wwwooooowwwww!!gnulnx,a theory per sentence. Man, yer really in high gear!!!!Who at PBLS suggested delisting and London exchange? You talk to them "regularly",yet never any specifics.Will the delisting be...voluntary? How would that be good? If they cant get listed on the OTC, why is that better? London exchanges requirements less stringent than pink sheets? What happens to shares people have now? Doe they just cease to exist, become worthless. How do you trade them if they are transfered? Maybe a market of European investors will be "easier" for Paul, or maybe not! As for them knowing more about the share situation than investors.....they are the ONLY ones that know. The TA is gagged!!!duh duh!!! Silver spoon? Inserted....where? There are ways of dealing with naked shorting,if it exists.They "may" order NOBO list. This has been going on for almost 4 months. Why havent they ordered it already? Pauls been whining about shorting for over a year. Prove it or shut up!!!!!But that might reveal the share structure, wouldnt it! The pit operation cash flow severely reduced? Now thats news!! They didnt mention that before. Nor did you.Did you know? That would explain the hysteria during the Best Jet crap. Paul "outraged" at investor "interference", after he revealed it in an interview ON THE AIR, EVERYWHERE!!!duuuuh! They NEEDED some cash flow from SOMEWHERE! I wondered why,with all the "insane profits", they needed a private placement loan for $500k. Was that deal with an offshore entity? That could explain SOME of the shares flooding in.Are there more "placements" we dont know about? Got to pay the bills!The other companies arent much. Oil division a disappointment, their words. Maybe next year before the pits generating much money again. They could account for everything,and file, if they WANTED to. Other companies,including OTC, make acquisitions and file quarterly. May have to file amended addition. But its done. Been woolin' this thing for over a year. Just gets curiouser & curiouser.heh We'll probably NEVER know the truth.
-------------------- It takes a lot of attaboys to make up for an aww chit
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"You talk to them "regularly",yet never any specifics."
True. Mike will tell you flat out that he would rather not have conversations posted on the message boards. I've only talked with Ron twice...and I've posted what he's told me..more or less.
Also there are no specifics about the exchange. I just know that they are considering exchanges that don't allow shorting...that came from Ron. I'm pretty sure London is one..I think the Hong Kong exchange is another.
The delisting is pure speculation on my part.
"What happens to shares people have now?" Well I guess the shares that are "real" would just transfer right on over. The fails to deliver people would probably have to sue their brokers...I guess??
How do you know they haven't ordered the NOBO list? I don't think they have, but it is possible is it not?
"We'll probably NEVER know the truth." That is probably true. I do believe they are contractually obligated to become fully reporting be May 2007?
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nope. Well I did no that the bridges had weight restrictions on them.
In fact the pit is actually my BIGGEST sticking point. If I remember correctly PA said in an interview the there were 200-300 trucks a day coming and going from that pit....then we get a pr that say's productivity has been way down since Katrina? That sounded fishy to me. I also saw pictures of the new equipment and it didn't look like it was being used...going to the pit has been a high priority for my on my visit in November...of course now that priority is not quite so high. Ultimatly I don't think the future of PBLS has anything to do with the pit.
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actually I did know about the pit litigation before hand because someone on ihub paid the county clerk for some documents that talked about a lot of that stuff. That poster asked me to remove his post containig that information, but it's been back up now. This is what was posted on ihub and then deleted...and the reposted by others on raging bull and ihub.
Suit #200312894, File Date 6/17/2003 Phoenix Associates Land Syndicate vs. E.H. Mitchell & Co, LLC & Steven M. Furr (President of Mitchell & Co.) When the first 5 year period was up on the Murphy Pit lease, Mitchell & Furr offered a revised lease with higher royalties for dirt, though no provisions were made for such an increase in the original lease. Mitchell and Furr added a $4000 minimum monthly royalty to the revised lease due to Phoenix's levels of production being "dramatically deficient." Mitchell and Furr also disclosed that at the end of the second five year lease, they would actively seek out other third parties to assume the lease that Phoenix now holds. Phoenix refused to sign and so Phoenix claims that Stephen Furr resorted to harassment of business and/or employees. Phoenix also claims that Furr made false representations about the size of the leased property, the value of the minerals situated on the property and that the property was not subject to flooding. Furr also is claimed to have withheld information that the present mine site was "at the end of its production lifespan." Phoenix requested a trial by jury for hopeful settlement in the amount of $4,470,000 for damages. E.H. Mitchell & Co & Steven Furr countersued for breach of responsibilities. 7/3/2003 Mitchell responded with financial proof of how royalties have dropped since Phoenix assumed the lease from Murphy, especially due to its filing of Chapter 11 in 1999. They cited Phoenix's own statement to stockholders of the pit's value at $260 million to be evidence that the property is not at the end of its production lifespan. Mitchell moved for outright cancellation of the lease under Louisiana Mineral Code which states that mineral lessees must continually develop mining operations. Mitchell also left Furr at fault for any misrepresentations, harassments etc, that he conducted on his own initiative. 7/25/2003 Furr responds separately from Mitchell stating that the statute of limitations had expired, so if there had been any misrepresentations, which he did not admit to, they were no longer prosecutable. He also claimed that Phoenix had operated poorly in its management of the pit and was simply looking to place blame on him for poor operations. 9/25/2003 Phoenix responds to Furr stating that Furr wasn't past the statute of limitations because his misrepresentations were willful, stating that willful misrepresentations by an officer of a Louisiana LLC have no statute of limitations. Also, Phoenix provided several specific examples of harassment, including aligning with a major creditor opposed to Phoenix during its Chapter 11 settlement. IT GOES BACK AND FORTH LIKE THIS FOR A FEW YEARS. 8/10/2005 Mitchell files a preliminary injunction against Phoenix to cease mining at the pit until the case is settled in court. Their primary basis for the injunction was that Phoenix was purposely not accounting for all of the sand and clay that was in the "over burden" removed during the mining process. The court denied the injunction simply, as the removal or dirt was specifically permitted in the original Murphy lease. The court simply ruled that Phoenix must provide a monthly accounting of its mining activities to Mitchell. Phoenix complied with that accounting delivering scale weights monthly to Mitchell's office. 9/26/2006 Mitchell files a temporary restraining order and a preliminary injunction against Phoenix to cease mining at the pit until the case is settled in court. Mitchell's claim is that Phoenix is still a bankruptcy candidate, and that the large Army Core of Engineer contract could deplete the pit. Their premise was that Phoenix was going to make a substantial amount of money, and then file bankruptcy, forgoing the payment of any royalties owed to Mitchell. Mitchell also claims that the sub-lease of property to United Soils is in violation of the original lease. Mitchell also claims that the lease only gives Phoenix the right to mine and sell sand and gravel, not the dirt (overfill) that they must clear to get to the sand and gravel. Transcript of September 15, 2006. The judge rules that the sub-lease to United is in violation of the original lease and that the original lease is hereby dissolved and terminated, cancelled. Phoenix asked for a new trial but the motion was denied. The preliminary injunction and restraining order was granted. Phoenix was ordered to cease operations at the pit. Mitchell was required to put up a $50,000 bond to enforce the injunction. The injunction would terminate on November 10, 2006 upon filing of an appeal by Phoenix, which they promptly did, putting up a $100,000 bond on 10/16/2006. 10/3/2006 Mitchell gives notice of eviction to Phoenix at the 820 acre Murphy pit. 11/6/2006 Date of appeal is set.
posted
Well,I can see why bagholders would want that kept quiet. Bankruptcy candidate? That doesnt surprise me.Pauls been there before.He's had no success with a publicly traded company before,in spite of what his "bio" says. North Korea's Kim Smells-Like-Dung should get Paul to run his nookleear program.We wouldnt guess a thing till the first bomb went off over San Francisco!! jk Well, the chit just keeps slowly coming to the top,doesnt it!
-------------------- It takes a lot of attaboys to make up for an aww chit
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Surely though Best Jets, United Soils and others had done their homework on this and were made aware of the pit litigation before they agreed to the buyouts. I can clearly see why they acquired United Soils so that they wouldn't be in breach of the lease. Didn't seem to help though from the looks of it. Bankruptcy would still be hard to fathom. I wonder if someone were to contact one of the acquired companies and investigate to see if they knew about the litigation.
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I am in Marion Ohio heading to Dallas Texas with load and I will be going through the town of Denison, Tx...... will do my best- If I can find a plcce to park a Big Truck, to go by Best Jets and take some pictures of the place..... Already pulled it up on the Yellow Pages and it looks to be close to the Highway.... I think there is an Indian casino close buy I can park at.... Will post them Probaly Sunday evening if it works out.
I have seen the airport there before... so wil do my best.. Ron
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You got it... Any think I post can be sent anywhere u choose... I have a 99% posibility of gettin pictures..... I have money invested here so anything that can/may help... I will do :}
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Hey I've never said the pit didnt exist. It has been their cash cow along with investors money, all along. And I have NO doubt about the existence of Best Jets, and Phoenixs fingers in it. All the companies they've bought flowed from the pit,so to speak! But they've been spending money and shares like crazy. Pauls business "plan",spend,spend,spend,then spend some more,in my opinion,has come home to roost. That may be why acquisitions came to a halt after Best Jets. I seem to remember they had an even bigger deal in the works. With the pit problems,litigation,legal fees,ect.,bills and payroll have to be met.Could that be why they doubled the AS, to have shares to sell or "place", for cash flow? IMHO,definite possibility.Oil division not much help, Pro Gas minute profits compared to revs.Pool plastering? Is that hugely profitable? The directional drilling stuff has good profit,but,given the high cost of directional drillers,not HUGELY profitable. Besides,I think they only had 2, if I remember right.No big pools of oil bubbling out of the ground in Wyoming or Nevada. I dont think they've got the scratch to drill in Wyoming, unless they sell off a lot of working interest. High risk anyway,with nearby dry holes. If they loose the pit litigation, what happens then? Bankruptcy? Common share owners are at the absolute bottom of the list to get anything,if there is anything left(there wont be). Could that be why they needed preferred shares too? To take care of the...insiders? As for Best Jets,yeh,its real. But can it pull everything else up with it? Its a niche market, and yeh,the engine contract is good,but,money over a period of time. Go to GE's website. They have engine overhaul centers...all over the world. Three right here in the good ol' USA,that Best Jets competes with for work. The one at Strother Field,north of Arkansas City, Kansas, Im very familiar with. Applied for work there during the dark days of the late 80's. I just dont see Best Jets generating a lot of moola in a short period of time. Certainly not the way the pit "exploded" there for a while,after Katrina.More money in the following 6-8 months than they had seen in the years they had it,combined. So,anyway,dont see what good "feel good" pictures would do. Maybe they've got Pauls name painted all over everything. Or maybe pics of a Best Jets Gold Edition "Alonzo Special",hand built fer da chief!!!! heh heh.I still think all these manipulations,going to a foreign exchange,preferential treatment for cert holders, ect,.....are just distractions from the real problems, and not solutions.
-------------------- It takes a lot of attaboys to make up for an aww chit
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I think you are right..... I thought I was buying at a low... and took the leap.... I have no idea what it will do...... It has always had potential just never lived up to it. Maybe some pictures will be outstanding.... Lots of planes being worked on there.. ect.... Cant hurt
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I like this forum where real investor follow the business events so closely. I do have basic knowledge of investing but would be great to listen to your valuable advises. When to invest..what to invest in...when to exit etc. Any right direction is appreciated. Thank you all!
-------------------- Magnet Attract the rare element!
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Welcome... Pennies are a hard marked right now .... GOT TO BE REALLY FAST.... Was watching POFG 2day when it was at .025 and looked away for a few minutes and it had poped to .20 man that was gr8 for lots of watchers who got in.... (I didn't)I get in and sell when there is some profit.... Was doing gr8 a few weeks ago.... Right now Im only making $80+- per week..... a few weeks ago I took $2000 and made $3000 profit in 7 Weeks.... I do think the penny market is fixing to get hot again I have been fliping AAGM and EQBM the last few weeks to make the $80 Also have fliped PBLS once or twice to recoop some of my unrealozed loss... Youn coments r welcome... Ron
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oooohhh gaawwd!!!!Magnet,most here have lost most of their money in this stock. gnulnx has lost 70%. Think about it. Pennies as..investments? heh!!heh!!
-------------------- It takes a lot of attaboys to make up for an aww chit
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There are two way's to play pennies. Fast swing trading or long term investments. If you go the long term route you will have to be the kind of person who likes to really dig into a company, go visit them, and verify everything!
You should be willing/able to loose every penny you "invest". The other option is trading them. This method works well if you can sit in front of a computer all day, and as long as you have a good trading model.
If you find that neither of these methods will work for you then I suggest running like hell from the pennies...cause you will basically just be gambling against a stacked deck.
It think you should call the company and talk to Ron about business operations...I suspect it will be quite enlightening for you. The pit was a minor part of total profits for 2006. Anyway it's to much to go into, but there was a recent pr that highlighted a lot of what was said.
I'll sum it up this way...Ron could basically care less about that pit. It's Pauls baby and Paul wants to keep it. IT IS NOT EVEN REMOTLY CLOSE TO THE COMPANY CASH COW. Anyone who believes this has not been following the pr's and has certainly not talked directly to the company.
And no that wasn't in my humble opinion...that was in my educated opinion. BTW the OS is less than 800M. If you don't believe it then call and ask yourself...the company..not the TA. There is a reason the TA is gagged. I know the reason and I've posted it several times. The biggest problem with PBLS is you have to either do awsome dd or just trust the company. I don't suggest ever trusting any company and damn sure not a pinksheet company.
They will file audited numbers first part of next year and the TA will be ungagged. There is not a single company trading on the pinksheets that can offer the risk/reward ratio of PBLS right now PERIOD.
quote:Originally posted by gnulnx: There is a lot that is verifiable...you just have to dig further than the message boards.
And where would that be? SEC filings,financial statements? Verified share structure? You got to be kidding! They can say ANYTHING in pr's,or over the phone,with no consequences. You know that. How does that verify anything? And if you posted the reason for the gagged TA, I must have missed it. Please post again! And I DONT CARE if Ron B could care less about the pit. That was the launch pad,the cash cow for them. They never would have bought the other stuff,including Best Jets,without it!They had no money,stock was flatline dead before Katrina. I know,I was in it!!!
-------------------- It takes a lot of attaboys to make up for an aww chit
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I suspect they might have more control than you think. I personally think they want the price down low so they could by the shares back cheaper.
Oil...again there is a lot that is verifieable. You are right I can't call the TA and ask. I also can't see the exact financials. But I can call BestJets and quiz them on business operations, I can call progas and talk with former Enron employees and prospects, I can talk with people that visit the various oil divisions. My point is that I am able to live with the unverifiable's because the company is honest with regards to everything else...mostly.
BTW: The TA is gagged so that a take over is impossible. PA sold a ton of shares into the Katrina spike...THAT IS were money to grow the business came from. The pit profits did contribute some to these aquisitions as well. PA has been trying to get the OS reduced down to a point were a take over is impossible. The company is limited to the number of shares they can buy each day, but an outside investor could literally drop 7 million dollars for shares and own PBLS...except for the fact that there is no way to know how many shares are really out there. No the company didn't tell me that. I figured that out on my own...it's the only scenario that makes sense...and no diluation does not make sense when you know the amount of profit some of the divisions are making.
posted
Still,nothing verifiable. You said it yourself..."No the company didn't tell me that. I figured that out on my own" and "the company is honest with regards to everything else...mostly." lmaorof heh heh That's been my point all along. Early this year I said they were selling shares into the float,big time. So Pauls paranoia about a "hostile takeover" caused him to gag the TA,back in Oct/Nov,last year huh. lol So,his genius is,to get the pps down below subpenny,where a "takeover" is cheap, and where naked shorting is more prevalent. eh? So,you reduce the OS by....doubling the shares? wwooowww!! The brilliance,the utter genuiusosity of it all. Rape the pigS out of the shareholders. Brilliant. Its for their own good!! ooooooohhhhhhh! I think I got it figured out! Got to mull it over,check something out.hhhaaarrr!!! stand and deliver!!!
-------------------- It takes a lot of attaboys to make up for an aww chit
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Oil...man I think you just like to take my words and twist them for the fun of it!
He doubled the OS because the price went from .004 to 12 cents. He raised a bunch of money...that's what shares are for no? He is not diluting now. He's buying them back. I don't think a hostile take over is not possible when the TA is gagged because you can't prove how many shares are out.
In any event it's beer thirty on a friday...see ya'll bright and early on Monday!
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But they've been spending money and shares like crazy. Pauls business "plan",spend,spend,spend,then spend some more,in my opinion,has come home to roost. That may be why acquisitions came to a halt after Best Jets. I seem to remember they had an even bigger deal in the works. With the pit problems,litigation,legal fees,ect.,bills and payroll have to be met.Could that be why they doubled the AS, to have shares to sell or "place", for cash flow? IMHO,definite possibility.Oil division not much help, Pro Gas minute profits compared to revs.Pool plastering? Is that hugely profitable? The directional drilling stuff has good profit,but,given the high cost of directional drillers,not HUGELY profitable. Besides,I think they only had 2, if I remember right.No big pools of oil bubbling out of the ground in Wyoming or Nevada. I dont think they've got the scratch to drill in Wyoming, unless they sell off a lot of working interest. High risk anyway,with nearby dry holes.![[Big Grin]](biggrin.gif)
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heh heh.I still think all these manipulations,going to a foreign exchange,preferential treatment for cert holders, ect,.....are just distractions from the real problems, and not solutions.
