posted
MADISONVILLE, LA, Jun 14, 2007 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that the Company intends to file its financial full disclosure documents with Pink Sheets by June 15th so as to be in compliance with requirements to be categorized as a "Current Information" provider under the new Pink Sheets categorization system.
Paul Alonzo, President and CEO of Phoenix, stated, "I am very pleased to release the much requested financials for 2006 and 2005 at this time. Every effort has been made by our accounting staff and our SEC attorney to be sure to properly and accurately present the financials of PBLS for '06 and '05." Mr. Alonzo added, "These financials will point out to shareholders what has been accomplished by our company since the end of 2004, when our revenues were just under $500 thousand for the entire year."
Mr. Alonzo commented further, "The filing of our financial disclosure documents with Pink Sheets is ready. Phoenix has completed its application with Pink Sheets and paid the appropriate fees, and intends to electronically transfer its financial disclosure documents for posting on Pink Sheets on Friday, June 15th. Once transmitted to Pink Sheets, we expect these disclosure documents to be posted for investor availability on a timely basis."
Phoenix indicated that once this financial disclosure process is completed via the Pink Sheets, the Company will become focused on the release of news within the next week or so related to a number of acquisitions that have not as yet been announced.
The financial information provided below is a summary of the more complete disclosures that are included in the documents to be filed for disclosure via the Pink Sheets on June 15, 2006.
-------------------- Fred [IMG]http://renegade.iconlabs.net/images/tek.gif[/IMG] Posts: 1097 | Registered: Jun 2005
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Phoenix Associates Releases 2006 & 2005 Financial Results More Complete Financial Disclosures to Be Filed With Pink Sheets by June 15, 2006 Will Enable Shareholders and Potential Investors to More Readily Evaluate Phoenix as an Investment Worthy Company; Phoenix to Be Categorized as "Current Information" Provider by Pink Sheets Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS) today announced that the Company intends to file its financial full disclosure documents with Pink Sheets by June 15th so as to be in compliance with requirements to be categorized as a "Current Information" provider under the new Pink Sheets categorization system.
Paul Alonzo, President and CEO of Phoenix, stated, "I am very pleased to release the much requested financials for 2006 and 2005 at this time. Every effort has been made by our accounting staff and our SEC attorney to be sure to properly and accurately present the financials of PBLS for '06 and '05." Mr. Alonzo added, "These financials will point out to shareholders what has been accomplished by our company since the end of 2004, when our revenues were just under $500 thousand for the entire year."
Mr. Alonzo commented further, "The filing of our financial disclosure documents with Pink Sheets is ready. Phoenix has completed its application with Pink Sheets and paid the appropriate fees, and intends to electronically transfer its financial disclosure documents for posting on Pink Sheets on Friday, June 15th. Once transmitted to Pink Sheets, we expect these disclosure documents to be posted for investor availability on a timely basis."
Phoenix indicated that once this financial disclosure process is completed via the Pink Sheets, the Company will become focused on the release of news within the next week or so related to a number of acquisitions that have not as yet been announced.
The financial information provided below is a summary of the more complete disclosures that are included in the documents to be filed for disclosure via the Pink Sheets on June 15, 2006.
Phoenix Associates Land Syndicate, Inc. Consolidated Balance Sheet - Pre-Audit -------------------------------------- December 31, 2006 and 2005 2006 2005 ----------- ----------- ASSETS Current Assets Cash and Cash Equivalents 9,202,005 6,646,963 Accounts Receivable - Net 4,496,621 1,273,181 Inventories 13,041,050 9,525,500 ----------- ----------- Total Current Assets 26,739,676 17,445,644
Other Assets Investment 18,250,088 9,633,375 Prepaid Expenses 282,047 102,296 Goodwill 13,232,540 9,632,540 Oil Reserves 0 0 Land Leases 1,402,840 1,401,265 ----------- ----------- Total Other Assets 33,167,515 20,769,476
Fixed Assets Buildings 728,000 728,000 Land 225,000 225,000 Real Estate Holdings 11,002,642 0 Building Improvements 412,268 25,275 Machinery & Equipment 9,397,825 2,309,398 Furniture & Fixtures 177,065 157,965 Leasehold Improvements 18,549,000 15,885,990 Mineral Reserves 47,550,000 47,550,000 Vehicles 275,531 275,531 Less: Accum Depletion (16,015,635) (13,314,000) Less: Accum Depreciation (6,780,821) (3,584,267) ----------- ----------- Total Fixed Assets - Net 65,520,875 50,258,892
TOTAL ASSETS 125,428,066 88,474,012 =========== ===========
LIABILITIES & SHAREHOLDERS' EQUITY Current Liabilities 28,543,162 6,519,938
Long Term Liabilities 4,107,000 2,343,842
Shareholders' Equity Stock & Paid in Capital 84,113,032 79,610,390 Unrealized Market Gain / (Loss) (14,441) Retained Earnings (158) (158) Income / (Loss) 8,679,471 ----------- ----------- 92,777,904 79,610,232
TOTAL LIABILITIES & SHAREHOLDERS' EQUITY 125,428,066 88,474,012 =========== ===========
Phoenix Associates Land Syndicate, Inc. Consolidated Statement of Revenue and Expense - Pre-Audit --------------------------------------------------------- For Year Ended December 31, 2006
2006 ----------- Revenue 178,143,101
Cost of Goods Sold 159,605,335 ----------- Gross Profit 18,537,766
Phoenix Associates Land Syndicate, Inc. Consolidated Statement of Revenue and Expense - Pre-Audit --------------------------------------------------------- For Year Ended December 31, 2005 2005 -----------
Revenue 165,971,862
Costs and Expenses Operation Costs 156,771,118 General and Administrative 2,735,642 ----------- Total Costs and Expenses 159,506,760
EBITDA 6,465,102 ===========
About Phoenix Associates Land Syndicate
Phoenix Associates Land Syndicate (PINKSHEETS: 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 aviation, 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
-------------------- #1 Rule: Protect your capital! #2 Rule: Never fall for the BS on the boards! Posts: 8890 | Registered: Jan 2006
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quote:Originally posted by realperson: 2007 ist quarter is next Thats when the real bucks will show up
June 15 Friday we get shares structure
Next week we get PR's
So are we waiting til next week, I'm already under $500 in my scottrade account. Hopefully they don't close it.
Posts: 23 | From: Worcester | Registered: Jun 2007
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posted
Does anyone have a clue why this is bouncing around so much...the dips are driving me crazy...I thought we were supposed to be going up in price?!?!?
posted
I don't think they ever sell off your positions and close your account. I know a guy who has had liek $15 in his account for like 2 years now. I think the $500 is an "opening deposit minimum", but I guess each branch could possibly have different rules.
Hope it turns out okay for you.
quote:Originally posted by Verdict:
quote:Originally posted by realperson: 2007 ist quarter is next Thats when the real bucks will show up
June 15 Friday we get shares structure
Next week we get PR's
So are we waiting til next week, I'm already under $500 in my scottrade account. Hopefully they don't close it.
Posts: 5508 | From: Southeastern PA | Registered: Jan 2006
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posted
Uplisting To pinksheets tomorrow Big Pr's next week Play the dip
Posts: 1068 | From: Utah and Put-In-Bay Ohio | Registered: Jan 2004
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posted
Back to 0.02....ugh. I think I'm going to be sick... I had to be away from trading for this week and couldn't play the swing. All the green that I was up this week is now gone. Why did it shoot up so high just to tumble back to where it started?? I thought the financials were supposed to "send this thing to the moon!" I know it's a pink, but I thought the financial status of this company were good...
Anyone have any ideas, comments, insights on what the future looks like after reading the financials statements that were just released, and what the future might hold?
Frustrated in Miami, DrZ
Posts: 255 | Registered: May 2006
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quote:Originally posted by DrZ: Back to 0.02....ugh. I think I'm going to be sick... I had to be away from trading for this week and couldn't play the swing. All the green that I was up this week is now gone. Why did it shoot up so high just to tumble back to where it started?? I thought the financials were supposed to "send this thing to the moon!" I know it's a pink, but I thought the financial status of this company were good...
Anyone have any ideas, comments, insights on what the future looks like after reading the financials statements that were just released, and what the future might hold?
Frustrated in Miami, DrZ
here is repost from IHUB:
Don't know how to post a spreadsheet and make the columns line up. I added a column for year to year changes and it's very enlightening. If anyone has a better idea on posting columns, please let me know. Here are some thoughts based on the numbers as I see it. Keep in mind I'm certainly no CPA or FA wiz...
- Gross Margin has almost doubled year to year to 10.41%. However, General and Administrative expenses have tripled year to year. This is reflected in the smaller growth in Net Profit Margin.
- Operating Profit Margin has increased marginly to 4.14%.This identifies the recurring, core earnings of the company. EPS is often shown as operating EPS to help eliminate confusion created when non-recurring items like other income are included.
- Net Profit Margin increases by .6% to 4.87%. This is a slight improvement. Industry average for conglomerates is about 10-11% We still have work to do but this is typical of growth companies.
- Working Capital has fallen from +$10M to -$2M. This is the net difference between current assets and current liabilities. Typically a decrease in working capital can be seen as a negative, for the business has less cash on hand to meet immediate business needs. However, most businesses merely take on corporate debt to bolster the appearance of the Working Capital account. To reveal a negative number is somewhat alarming, but also speaks to transparency.
- The Current Ratio is the standard test of Working Capital. The Current Ratio has decreased year to year from 2.68 to 0.94. A decrease in the Current Ratio is representative of the decrease in Working Capital. The rule of thumb is to have twice as much in the CA account as the CL account. During a growth phase it is expected that cash and equivalents should be tighter, thus lowering the Current Ratio. I would relax a bit if I could see the specifics of the Current Liability account.
- The Quick Ratio or Acid test has decreased from 1.21 to 0.48. This is the Current Ratio with inventories removed from the Current Asset account. 1 is standard implying that a cash strong company should have $1 in cash or equivalent on hand to cover $1 of current liabilities. PBLS currently has $.48 per $1.
- Capitalization has improved from $79.6M to $92.7M, a 16.54% change year to year. This is Market Cap as defined by the total debt and equity of the corporation instead of O/S times pps. Year over year PBLS saw it's Market Cap grow by 16.54%
- Our Debt-to-Equity Ratio remains at $0 as long as $0 long term debt is shown on the balance sheet. Standard Debt-to-Equity is 2.5-3% for conglomerates. Based on GAAP, long term debt would be included in the financial statement if PBLS had incurred any. Therefore, lack of a line item for debt implies that debt remains at $0.
- Because PBLS shows no LT debt, Book Value is equal to Market Cap. Again, PBLS demonstrated a 16.54% increase in Book Value year over year. Not to shabby if you ask me and 2007 numbers are right around the corner.
- Goodwill has increased by 37.37%. Goodwill is something that PBLS incurs when it buys a company. Basically, Goodwill is equal to the amount paid for an acquisition over the book value of that acquisition. Goodwill is then depreciated over time. A 37% increase in Goodwill in light of the mulitude of acquisitions made in 2006 demonstrates that PBLS is not over-paying for companies.
- Machinery & Equipment has increased by 306.94%. Most of this is probably pit equipment at Murphy. Probably one of our safest investments right now.
- Accounts Receivable saw a 253% increase year to year. This significant increase in A/R is probably due to the large pit contracts. These type of contracts typically offer more favorable terms of payment for the buyer of the aggregate. This number should be decreased. They need to hire some no-neck Italians from Jersey to do some collecting.
- General and Administrative Expenses increased by 307.95%. Given the number of new companies purchased and the latest hirings, it was assumed that G&A expenses were going to increase dramatically. They will continue to increase during the growth phase of PBLS if they continue to hire such quality employees.
Biggest positive besides the transparency is the increase in the margins and the stability of the Goodwill account. Typically margins decrease during acquisition periods and especially when buying distressed companies. Stability in Goodwill means that they are not over-paying for the assets in the companies that they buy.
Biggest concern would be the decrease in Working Capital, the lack of line items in the Liability accounts, and the fact that $0 debt was included on the balance sheet. I was also under the impression that we took on some LT debt with the Best Jets acquisition.
Keep in mind that these numbers represent 2006 and not the last 5 months of 2007. With the new Pit contracts and jet sales, things in the Revenue and Working Capital department should have changed dramatically (hopefully for the better).
All of this makes better sense if you can see the numbers in a spreadsheet. And of course, all in MOSO. I don't know anything about financial statements.
posted
I just took look on front page of Ihub and first page of Allstocks micropenny and it made me smile. Its full of POS companies as always and then our PBLS. All these people talking every day about various POS companies should instead invest in PBLS and take some vacation :-)) Current price of PBLS is a great example of market inefficiency.
Posts: 287 | From: prague | Registered: Jan 2006
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Business Description: Phoenix Associates Land Syndicate (?Phoenix?) is a holding company incorporated in Nevada. Phoenix has assets and/or interests in aviation, sand and gravel, land development, oil and natural gas, commodity brokering, trucking, contract hauling, construction, swimming pool construction and construction related industries. Phoenix has 4 major divisions. Aviation: including remanufacturing for resale 20 series Lear jets into 21st Century silver, gold and platinum models, remanufacture of Falcon 20 series aircraft for resale. The aviation also has a full engine shop and airframe facilities and a large jet fuel supply division. 2. Oil and Gas Division: which includes purchase and resale of natural gas production, well inspections, trenching, drilling both straight hole and directional and down hole drilling motor rental. 3. Sand and Gravel: Phoenix operates an 820 acre sand and gravel pit on the Pearl River in Louisiana. 4. Construction, Development, and Property management; Phoenix has 3-D Builders, a residential and commercial builder, two pool construction companies in Michigan, a construction division (3-D Creations) that specializes in up-scale supplementary construction for pools such as rock formations and waterfalls. Phoenix is developing Tchefunete Harbor Townhome in Madisonville, LA, and has a property management company based in Destin, Fl.
Primary State of Incorporation: Nevada
Country of Incorporation: USA Year of Incorporation 1978
Officers: Paul Alonzo, CEO; Ronald L. Blackburn, COO; Carolyn Alonzo, CFO
Fiscal Year End: December 31
Outstanding Shares: 1,750,000,000 as of 2007-06-14
Estimated Market Cap: 33.25M as of 2007-06-15 (based on Outstanding Shares as of 2007-06-14) Authorized Shares: 2,000,000,000 as of 2007-06-14
Current Capital Change: shs decreased by 1 for 11.45488493 split Ex-Date: Record Date: Pay Date: 1996-10-02
posted
Yea, I had to cut this one loose and get into something else, I lost half of what I put in.
Posts: 23 | From: Worcester | Registered: Jun 2007
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posted
Is this rumors? or news? I have been stuck in PBLS over a year and everything was good news coming soon and audits coming,,all from them..kind of had my doubts but oh well..and can anyone read what they put up on pinksheets? it tells me something about AVG antivirus????
quote:Originally posted by gnulnx: They better issue a pr about the latest aquistions.
2 drilling companies a bank. nd possibly Merex.
Posts: 209 | From: New Orleans | Registered: Feb 2006
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posted
1,750,000,000. shares is about what I told myself not the 800,000,000. the IR kept eluding to.
Now all of you know why this never goes anywhere,dilution but not that bad
Now that pbls is going to be reporting that is behind us I feel that some good pr's are ahead for us and we will see a run.
I am still in and will be because the worst is over IMHO for share holders if it was not the never would have went to a disclosure statis.
If I see any sign now or in the future that this is not stopping unless it is for growth I am gone and I will post so.
Posts: 6008 | From: phoenix az | Registered: Mar 2005
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posted
I was going to buy more thurs or fri and got too busy, maybe I got lucky, I'll be keeping an eye on it though, we'll see what monday brings, maybe a good pr.
Posts: 56 | From: Massachusetts | Registered: May 2006
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