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I'd say a reverse merger is likely assuming the books of LDTI are clean.
We probably bought 10% so we could see everything up front. I expect to see LDTI increase it's authorized share count to match ours fairly soon. If that happens I recommend taking out a second mortgage on your house to buy PBLS with.
Cheers...and thank god we are FINALLY starting to see what we have been waiting on. Just a few more months form here...unless this deal falls through.
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Phoenix Associates Acquires Noble Jet Feb 14, 2007 9:35:00 AM MADISONVILLE, LA -- (MARKET WIRE) -- 02/14/07 -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced the acquisition of Noble Jet, Inc., a jet aircraft maintenance facility located on the Fort Lauderdale Executive Airport (FXE).
Phoenix Associates has acquired 80% of the common stock of Noble Jet, Inc. for $2.0 million, paid through a combination of cash payments and a ten year note at 6.00% APR. Mr. Noble Kurth will retain a 20% equity position in Noble Jet and will continue to manage the day to day operation as Chief Operating Officer. Phoenix will assume overall executive control on February 23, 2007.
Paul Alonzo, President and CEO of Phoenix Associates, stated, "We are very excited about the addition of Noble Jet to the Phoenix organization. Coupled with the Best Jets group of companies, Noble Jet will give us an existing book of business in the very active south Florida market, and will provide a service center for new and existing Best Jets clients in the southeastern U.S.A. This strategic location will also provide us a portal to Learjet operators throughout Latin America."
Noble Jet specializes in the Learjet family of aircraft, performing unscheduled repairs, routine maintenance, and major airframe inspections. Several air taxi operators rely on Noble Jet for direct support of their Learjet fleet.
Mr. Alonzo added, "Noble Jet does not presently perform engine repairs or hot section inspections, so teaming with Best Jets will give Noble Jet expanded capability to better serve its customers who operate 20 series Learjets."
In conjunction with the acquisition of Noble Jet, Phoenix announces the hiring of Jeff Hathorn to conduct marketing and sales efforts in the Southeast for the Best Jets family of companies. Mr. Hathorn is an airline transport pilot and has an extensive aviation resume, including flying experience in the military, air cargo, passenger airlines, and corporate jets. Of particular interest to Phoenix Associates, one of his many FAA type ratings is in Learjets. In addition to aviation, Mr. Hathorn has substantial business experience, having owned and managed marinas, yacht sales outlets, and various real estate and marine related businesses.
About Phoenix Associates Land Syndicate (PBLS)
Phoenix Associates Land Syndicate (PBLS) is a public holding company, with thousands 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 www.pbls.biz
Forward-Looking Statements
This press release contains statements that are "forward looking" and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Generally, the words "expect," "intend," "estimate," "will" and similar expressions identify forward-looking statements. By their very nature, forward-looking statements are subject to known and unknown risks and uncertainties that may cause our actual results, performance or achievements, or that of our industry, to differ materially from those expressed or implied in any of our forward-looking statements. Statements in this press release regarding the Company's business or proposed business, which are not historical facts, are "forward-looking" statements that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made.
posted
pbls had a court date about sueing the Pit owners and thier Lawyers
got this GNu who got it from Mc
Court Day over..
Posted by MC on RB.
From what I was told the case was against their attorney for 1.5m, claiming that when he filed the restraning order he did not give notice which caused them loss revenue and attorney fees.
Only the attorney's were in the court room. It was brought out that it was unusall to be suing the attorney, but I guess we claimed what he did was not by the rules, cost us money, yada, yada. yada.
Bottom line, the judge wanted information from the prior hearing that was not there and wanted the information before going forward. Information to be given to judge by 4/1 and then they move forward again about 4/11.
Research.... Yes.
He also said that our attorney's are pretty sharp and he went over and had a conversation with them and he had to drive 300 each way to be there.
posted
Phoenix Associates Announces Preferred Stock Participation Program for Shareholders Thursday February 15, 6:30 am ET
Shareholders Offered Opportunity to Convert Common Stock Into Voting Preferred Stock, $10 Par Value; For Each 167 Shares Offered for Conversion Shareholder Will Receive One Share of Preferred, Based on Value of $.06 per Common Share; Each Voting Preferred Share Will Have 167 Votes
MADISONVILLE, LA--(MARKET WIRE)--Feb 15, 2007 -- Phoenix Associates Land Syndicate (Phoenix) (Other OTC:PBLS.PK - News) today announced a voting preferred stock participation program for the benefit of its shareholders. ADVERTISEMENT
Phoenix has 250 million authorized preferred shares, $10 par value. The company will be converting 62.5 million of these authorized shares of preferred stock to "voting" preferred stock, $10 par value, so as to have voting preferred shares available for this program. The new voting preferred stock will pay an annual dividend of 6% which will be paid quarterly. Phoenix will redeem the preferred stock within five years from the date of issuance.
For the purpose of converting their common stock into preferred stock, Phoenix shareholders will have a value of $.06 placed on each share of common stock they submit for conversion. Phoenix's common stock is currently selling at or about $.014 per share. Thus, for each 167 shares submitted for conversion, the shareholders will receive one share of $10 par value voting preferred stock. Each voting preferred share will have 167 votes.
In the event 800 million shares of common were tendered to the company under this program, a total of about 4.8 million shares of voting preferred stock would be issued, with a total value of about $48 million. At a 6% annual dividend rate, this would result in the distribution of about $2.88 million in dividends annually, or about $720 thousand per quarter.
Paul Alonzo, President and CEO of Phoenix, said today, "This will give our shareholders the benefit of a substantial increase in value of their shares over the present market price. In addition, shareholders will receive an annual 6% cash dividend (paid quarterly) and the voting preferred shares will be redeemed within five years. The program is scheduled to begin March 2007."
This product is designed to allow shareholders to cash in their common stock profitably and to continue to give the shareholders a vote. The voting preferred stock shareholders will also receive the dividend and if naked shorting exists, this conversion program may eliminate this problem if enough shareholders participate.
Any shareholder that wishes to participate in this common to preferred stock conversion program please:
1. Send your common stock certificate via "Certified - Return Receipt Requested" mail to:
Phoenix Associates Land Syndicate P.O. Box 1358 Covington, LA 70434-1358 2. With your certificate send a letter in your own words, stating that you wish to trade these shares of common stock for the Phoenix voting preferred stock conversion offer at $0.06 per share and that you request your voting preferred stock be sent within thirty (30) days.
3. Sign the back of your certificate as the seller along with your letter.
4. Phoenix will handle the ensuing paperwork and will send your voting preferred stock within thirty (30) days of the receipt of your letter and your signed certificate.
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Looks to me like we are fixing to loose some of our money.... One of those mixed up deals that will not be good for us.... Written in GREEK for that reason :{
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Anyone gonna do the conversion? I think it is a good idea, at least on half of my shares. How does one do this when the shares are held by the broker? Mine is Fidelity...
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I am only common folk, but help me to understand, you are going to convert 1mm shares which will equal $60,000 which you will receive,in five years.Lets say next week the price of common shares goes up to .06=$60,000 for 1,000,000 shares today. I don't get it, how is letting pbls hold your shares making you money? If it goes up to .10 the week after it is worth $100,000. And you can sell it immediately.
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Not trying to step on our party.... But all of this sounds too good to be true.... Something smells.... PBLS will never be able to do any kind of payout like that..... Bill Gates couldnt even don it *Microsoft ect.... PBLS May decide in 4+ years to do a 1000 to 1 reverse Split.... Making all those shares worthless.... You can bet there is something in the works here and it is NOT works... Well.... Thats my thought
If it sounds to good to be true It is probably walking Like a duck ... also
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quote:Originally posted by Hitman: Not trying to step on our party.... But all of this sounds too good to be true.... Something smells.... PBLS will never be able to do any kind of payout like that..... Bill Gates couldnt even don it *Microsoft ect.... PBLS May decide in 4+ years to do a 1000 to 1 reverse Split.... Making all those shares worthless.... You can bet there is something in the works here and it is NOT works... Well.... Thats my thought
If it sounds to good to be true It is probably walking Like a duck ... also
Very true..I learned this with CSHD and SLJB
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quote:Originally posted by Hitman: Not trying to step on our party.... But all of this sounds too good to be true.... Something smells.... PBLS will never be able to do any kind of payout like that..... Bill Gates couldnt even don it *Microsoft ect.... PBLS May decide in 4+ years to do a 1000 to 1 reverse Split.... Making all those shares worthless.... You can bet there is something in the works here and it is NOT works... Well.... Thats my thought
If it sounds to good to be true It is probably walking Like a duck ... also
Very true..I learned this with CSHD and SLJB
hitman, they are reliable. Last summer they paid per one stock in certificate form 3 cents (as they promised), when they could buy it on the market for 2 cents.
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Hitman it's not as bad of a payout as you might be thinking. Let's assume that the company belives they are worth 25 cents a share right now. If the can by the shares for 6 cents then they could techincally sell shares at 2 cents in order to pay off the prefered...yeah that would screw the common.
Sometimes people you need to take the blinders off to see what's before you. Caution is always a good thing, but this company hasn't ever lied about these things in the past.
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I will convert half of my shares after I verify a few thing as to the logistics of this you can't go wrong I wish I had the funds now I just bought some real estate to buy about 4 million shares this is great
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What is the company going to do with the common shares received - dump them back into the market that will kill the common share price
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quote:Originally posted by Kashmaker: Shareholders Offered Opportunity to Convert Common Stock Into Voting Preferred Stock
When preferred shares get convert into common shares. they go on the market and the pps drops because the float increased.
When common shares convert into perferred they come off the market reducing the float which causes the price to rise. Its a mirror effect
The perfered share do not conert back to common shares. They have a guarenteed redemtion of $10 per sahre plus any unpaid divy Pbls could recall and pay the redemtion before the 5 year period.
MM said more details are forth comming. It takes weeks to order and recieve certs so at the least I shall order now and when the time comes (March) take a look at the current PPS and make my decision.
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