"Total revenues for 2006 are therefore expected to come in at about $206 million. Because of a substantial profit to be realized at the Best Jets Group of Companies, net pretax revenues of Phoenix could reach 10% of gross revenues."
posted
hey I did email and ask them to remove the old thread. The main reason is because it has a lot of old dd that isn't really relevant. I think it's time for a new thread.
posted
because I wanted the news out this morning....it's not like it's never been done before. Come on man give a brother a break...I've watched this thing plummet and we finally get some good news...yep I'm fired up.
If everyone hates the new thread then by all means just delete it. But if people start posting here then the old thread will move away anyhow. It's not like I didn't post great news to start a new thread.
[ September 26, 2006, 08:30: Message edited by: gnulnx ]
posted
Well if its a new thread start with new DD, lets at least post current PR
NEW ORLEANS, LA, Sep 26, 2006 (MARKET WIRE via COMTEX) -- Phoenix Associates Land Syndicate (Phoenix) (PINKSHEETS: PBLS), a holding company with assets 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, released the following comments on the status of its business operations.
One year ago today Phoenix released an update on business operations to its shareholders. The Company thought it would be appropriate to distribute a comparable news release today so that its shareholders might judge for themselves the progress made by Phoenix in one year.
First we will list all of the companies owned by Phoenix Associates Land Syndicate.
Phoenix Associates Land Syndicate, Inc. Mid-South Resources, Inc.
504 Water Street 2025 Regency Road - Suite 201
Madisonville, LA 70447 Lexington, KY 40503
ProGas, Inc. Rome Oil & Gas, Inc.
226 East Gibson Street 2025 Regency Road - Suite 201
Covington, LA 70433 Lexington, KY 40503
Sam's Oil Country Inspection Best AeroNet, Inc.
Services, Inc.
1509 Hwy 135N 3743 Airport Drive
Kilgore, TX 75662 Denison, TX 75020
CM Ideal Energy Services, Inc. Best Jets Engines, Inc.
1509 Hwy 135N 3743 Airport Drive
Kilgore, TX 75662 Denison, TX 75020
TCB Properties U.S., Inc. Best Jets Airframe Services,
1534 Scenic Gulf Drive - Suite 13 Inc.
Miramar, FL 32550 3743 Airport Drive
Denison, TX 75020
3-D Builders, Inc. Best Jets Sales & Management,
504 Water Street Inc.
Madisonville, LA 70447 3743 Airport Drive
Denison, TX 75020
3-D Creations, Inc. Jet Makers, Inc.
504 Water Street 3743 Airport Drive
Madisonville, LA 70447 Denison, TX 75020
Bayou State Trucking, Inc. Murphy Sand & Gravel, Inc.
504 Water Street 42435 Honey Island Swamp Road
Madisonville, LA 70447 Pearl River, LA 70452
Ann Arbor Pool Builders, Inc. Great Lakes Pool Plastering, Inc.
522 North Maple Rd 522 North Maple Rd
Ann Arbor, MI 48103 Ann Arbor, MI 48103
The following is intended to provide our shareholders with a brief comment on each of our business units.
ProGas, Inc. - Today ProGas is a larger more sophisticated company than when Phoenix purchased it on December 15, 2005. Phoenix has moved the ProGas CEO & President, John Burge, to the corporate offices to over see the dramatic growth we are starting to experience in this business since the devastation of Hurricanes Katrina and Rita have started to be overcome. Phoenix appointed Roy Plessala to oversee the day to day operations of ProGas.
As part of the organic growth of the ProGas business unit the following are the areas of focus:
1. Expansion of the downstream business.
2. Expansion of the financial derivatives division.
3. Expansion of the facilities financing division, including putting in
pipelines, gathering systems, and such to enhance business with existing
customers and to attract new producers to ProGas.
Sam's Oil Country Inspections, Inc. - This is the base company of a three company purchase which was completed on May 2, 2006. Sam's inspects bottom hole assemblies of wells being drilled, and well casings. Additionally, Sam's has added trenching capabilities around sub-structures of drilling rigs. Revenues at this company have increased dramatically since the purchase.
CM Energy Directional Drilling, Inc. - This company is the second of the three "Sam's" companies. When this company was purchased Phoenix could see the huge potential in this area of business. At the time of purchase Mr. Sam Henley and Mr. David Bolton, the two principles, had drilled their first well. The profit margins in this business are extremely strong, but Phoenix apologizes to its shareholders for not giving percentages at this time. Phoenix hopes shareholders will appreciate that such information could negatively impact bidding activities.
Several key components have been put in place since this acquisition. First, Phoenix has hired two drilling co-coordinators. These people are critical to the quick growth this company is experiencing. Second, the Company has hired a full time well planner which is another resource that is critical to rapid growth. Third, the Company has purchased its own MWD equipment which is currently being manufactured and should be delivered in the next several weeks.
In addition, Phoenix is negotiating with several other highly valued personal to add to this company.
CM Ideal Energy is currently expecting to be drilling 10-12 wells per month by year end.
CM Ideal Energy Services, Inc. - This company is the third of the Sam's companies. This company leases down hole drilling equipment. Percentage wise this is the most profitable of all the Phoenix companies. Phoenix is currently looking to expand this company into many different types of leasing for drilling operations.
TCB Properties U.S, Inc. - This is a property management company. The purpose of this acquisition was to provide Phoenix with a means to enter the mass housing market in the New Orleans area and expand to other cities quickly. TCB is currently looking to close its second major project which includes 31 units of rental condominiums, and several prime areas of land to develop in conjunction with 3-D Builders, another Phoenix Company.
3-D Builders, Inc. and 3-D Creations, Inc. - 3-D Builders is a greater New Orleans based building/remodeling company. Because of the devastation caused by the Hurricanes Katrina and Rita this business has exploded. The only thing that limits growth in any way is getting qualified workers. We continue to add these people as they become available.
3-D Creations is the part of 3-D Builders that builds beautiful rock creations including grottos, waterfalls, and landscape items that enhance the beauty of area pools and landscapes.
Brochures have been created by 20/20 Designs of Houston, Texas and 3-D Creations was an exhibitor at the first Home and Garden Show in New Orleans since the Hurricanes. Response was beyond all expectations. Phoenix expects this new creative addition to add in excess of 1 million dollars in revenue per year to the Company.
Bayou State Trucking - Because of the huge need for products hauled by this company, business has been brisk, but the overall growth is currently being limited by the State imposed weight limits on roads and bridges in our area.
Several of our bridges, especially the Twin Spans Bridge on I-10 going into New Orleans were severely damaged by the Hurricanes and are only temporarily fixed for traffic. Plans are underway to replace these bridges, but the weight limits directly effect growth in the trucking division.
Ann Arbor Pool Builders and Great Lakes Pool Plasterers - These two companies that were purchased December 31, 2004 and April1, 2005, respectively, have been combined and operate out of one location in Ann Arbor, Michigan.
Sales for these two companies have been strong and more importantly, their operations have been streamlined and the pool division has seen profits rise dramatically this year.
Mid South Resources, Inc. and Rome Oil and Gas, Inc. - These two companies have combined operations and now run as one company under Mr. John Barksdale and Mr. John Burge, his direct superior.
Currently Mid South/Rome Oil is expanding its lease holdings in Tennessee and evaluating an offer to purchase all production and leases in Kentucky currently owned by Mid South/Rome Oil. Because of the current price of oil this offer seems to hold a handsome return on investment in Kentucky wells. Reports on this particular opportunity will be given to shareholders as information becomes available.
Murphy Sand and Gravel - Installation of approximately $5 million of new mining equipment should be completed by the end of Q4. Once operational it should increase revenues at Murphy by $5 million to $8 million per year.
The Department of Transportation load limit restrictions cause the wide spread in increased revenues shown above. Once the load limits are eased, revenues could again increase sharply.
Phoenix currently has two separate legal actions ongoing relating to Murphy Sand and Gravel. Both actions have been ongoing for several years, but in the interest of becoming more transparent to shareholders we feel an update is appropriate.
The first action is between a Mississippi bank and Murphy Sand and Gravel.
Several years ago MS&G purchased several pieces of equipment from a Mississippi Manufacturer. The equipment was produced and a large amount of the purchase price paid. The equipment in question did not perform to specification and a settlement was made between MS&G/Phoenix and the company the equipment was purchased from.
The manufacturer in this case did not disclose to MS&G/Phoenix or the company the equipment was purchased through, that a loan was taken out by the manufacturer in Mississippi. That loan was defaulted on by the Manufacturer, even though far more monies were paid to the Manufacturer than the loan amount.
The Mississippi bank subsequently filed suit in Louisiana and even though it had no UCC1 filing on the equipment, convinced a local judge that UCC1
Law did not matter nor was it ever taken under consideration. Part of the equipment was sold to pay off the lien at the Mississippi bank.
Phoenix filed an appeal on the matter and has won on a 2-1 decision at the first appeal and 4-1 decision at the second appeal. Currently the matter is trying to be appealed (by the Mississippi Bank) to the Louisiana Supreme Court. MS&G/Phoenix is being represented by Attorneys, Thomas Schafer, George Denegre, Jr. and the firm of Liskow and Lewis before the Supreme Court.
Phoenix and its atto rneys collectively believe that its efforts will be successful and that Phoenix will proceed to win substantial damages from the Mississippi bank (multi millions).
The second action is based on an ongoing legal action in which MS&G/Phoenix has sued the leaseholder on the MS&G site for repeatedly interfering with its business. Recently, a local Judge heard a motion from the leaseholder that M S & G/Phoenix had entered into sub leases which would be a violation of our lease agreement. Even though MS&G/Phoenix attorneys assured us that was not the case, the judge ruled otherwise.
Phoenix is filing an appeal that will set aside said Judgment until the Appellate Court and Supreme Court decide the issue. This will take time as this will probably establish new case law. The preponderance of evidence of law from the Appeals Court, the Supreme Court, and Louisiana Mineral Code make Phoenix confident that our efforts will be successful. Additionally, Phoenix will continue its efforts to come to a suitable negotiated resolution which could include outright purchase of the property.
In the interim the Company will continue to develop it's mining program and revenues are expected to exceed $8-$10 million in 2007.
Best AeroNet, Inc., Best Jets Engines, Inc., Best Jet Airframes Services, Inc., Best Jet Sales and Management, Inc. and Jet Makers, Inc. - This new group of companies was purchased on August 8-17, 2006. We believe that based on value this is certainly one of the best, if not the best acquisition made by Phoenix.
As stated in past releases, Best AeroNet provides discount jet fuel in over 600 locations, with expectations of being over 1,000 locations within a year. Best Jets Engines recently received 133 GE J85 turbo jet engines on a contract to store, tear down, and re-manufacture these engines from Aviall, Inc., a subsidiary of Boeing Commercial Aviation Services.
Best Jet Sales and Management, Inc. currently has five newly renovated Best Jets 21st Century Lear Jets for sale, has hired one of the most dynamic and influential aircraft sales person in the world to drive sales and marketing, and believes that all five jets will be sold during the next 60 days, with two contracts already pending. Additionally, Best Jets has purchased two more Lear 25s for re-manufacture, one of which is in possession and the other to be delivered in about two weeks. Best Jets expects to sell about 18 of these 21st Century Lear 25 Conversion over the next 12 months at an average price of $3 million.
Best Jet Sales and Management currently manage eleven aircraft and expect to expand its fleet to at least 75 aircraft over the next 24 months. Jet Makers, Inc. currently purchases the raw material (used Lear 25 jets) and supplies the funds for refurbishing the aircraft.
Phoenix has ongoing plans to transition Jet Makers, Inc. into its finance division, capable of financing sold aircraft for its customer base. This transition is expected to be completed in 2007.
Phoenix Associates Land Syndicate - While "Phoenix" reported revenues for 2004 of about $500,000, the Company has had spectacular years in 2005 and 2006, year to date. In 2005 Phoenix reported income of around $165 million, despite significant sales losses caused by Hurricanes Katrina and Rita. Sales in 2006 have continued to be lower than expected because of continued effects of Hurricanes Katrina and Rita that had a heavy impact on ProGas. Even so, revenues are ahead of 2005 levels.
Phoenix expects revenues through the 1st three quarters of 2006 to be above $125 million, and is anticipating revenues for the 4th quarter of about $81 million. This number was revised down because of slumping natural gas prices. Total revenues for 2006 are therefore expected to come in at about $206 million. Because of a substantial profit to be realized at the Best Jets Group of Companies, net pretax revenues of Phoenix could reach 10% of gross revenues.
Phoenix has achieved its basis or foundation for the Company at this time. Future acquisitions will likely be less frequent and will be structured within the outline of what Phoenix now controls. That is not to say there will be no acquisitions, but they should fall within our current operational group.
When Phoenix appointed Ron Blackburn as its Chief Operating Officer, it was done to allow his special skills at organization and growth to be focused more on growth of an organic nature and increased projects through strong management day to day and streamlining its organization.
Finally, with all said and all major acquisitions completed, Phoenix will increase its activities to become fully reporting. Phoenix expects that when it files that Form-10 the total issued and outstanding shares of its common stock will not exceed 815 million shares of which approximately 40% will be restricted.
Phoenix is fully committed to its shareholders to move forward as fast as possible to achieve all that has been stated in this lengthy release.
Posts: 1097 | Registered: Jun 2005
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posted
I gotta admit Ron's doing a better job at the PR's, they seem to have more bite to em, yet keeping it real and in perspective. Looking forward to the next.
-------------------- Fred [IMG]http://renegade.iconlabs.net/images/tek.gif[/IMG] Posts: 1097 | Registered: Jun 2005
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