There have been a few comments of late concerning the behavior of PLHI- the stock formerly known as BTYH- Bad Toys.
I just want to clarify my position on PLHI- I don’t care what PLHI does. When the dividend of Southland shares was paid last January, I suggested everyone decide for themselves what they want to do with their shares of BTYH/ now PLHI.
The only thing I care about is Southland, and the progress they make towards getting out of the defaulted debt with the IRS and GE Capital, and getting the stock up and trading.
If you have any comments and questions, please post them. I will be using this forum simply to update everyone if and when news develops on Southland. If Southland makes some serious progress on their glacially slow endeavors, PLHI could become and interesting play before Southland is able to trade.
Have you heard of any progress or a time table about when Southland will be trading?
Editor: What we are looking for is progress with the IRS issue. If they can announce they have come out of default with the IRS and GE Capital, that will clear the way to get the stock up and trading. Until they solve this problem, in my view they have no chance of getting a NASDAQ or Amex listing- once solved, it would appear they can qualify. So, look for that to happen first. I am informed they are making progress.
My concern is how the PLHI stock price reflects the “expected value” of Southland. Originally, I hoped that Southland would open trading well north of $1 per share. Since Bad Toys still owns 25% of Southland, I would expect PLHI to be trading at 25 cents if Southland were to be at $1. But we all can see that PLHI is at 16 cents…does this mean Southland’s value is in the 64 cents per share range, or does this mean that PLHI is undervalued at 16 cents?
Editor: It probably means shareholders of PLHI are losing patience, or someone needed to sell a bunch and there were no buyers around. I’m not sure why it matters. You can’t do anything with your Southland shares but wait it out and keep your fingers crossed.
I know this question has been asked a thousand times already but I have still not recieved my stock certificates. Is there anyone else out there who also did not recieve them and should I start to be a pain in the neck to the company?
Editor: Call (423) 247-9560 and talk to Krista or Larry Lunan. They should be able to handle it for you.
I received stock shares of Southland with 0 price posted on my Scottrade account early this year. Should I still get stock certificates in the mail? I haven’t received anything from them to date.
Editor: Call larry lunan at (423) 247-9560
I called paladin and they told me they are still reconciling the accounts and that they expect the certs to be mailed by the end of the month. Etrade is the biggest and they are working on that one which is where my stock was held.
Truthfully I am losing faith in this whole deal. I have never heard of anything like this. Why on earth do they need to maile certs anyway when everyone else on earth does it electronically? I don’t get it. If you have any idea let me know. They said by the end of September it would be done now by the end of October. Then again who knows when it will trade, could be another good part of a year anyway and for how much, again probably another dissapointment in the future.
Editor: These guys make a glacier look like it is sprinting to the ocean. Nevertheless, you still own shares in a profitable company doing over $50 million in annual revs. Something will happen someday.
Hi
Got my certficate in the mail today.
Regards,
M.
Editor: Good news.
Why is this taking so long? Are they not iengaged in talks w/ IRS, and others to resolve debt issue?
Editor: Don’t know. Pathetic.
If you own Southland Health Services, Inc. in your IRA I would take a STRONG look at converting the shares over to a Roth IRA. Think about it…
Editor: interesting- doesn’t really matter if they never become worth anything.
Why is no one talking about the bankruptcy. Emergystat of Sulligent, which is the corp owned by Southland that has the tax liens and has defaulted on the loans, filed for Chapter 11 on Oct. 4
Editor: Sorry for the delay in responding. I was separated from my computer by the San Diego fires. Small division- parent company continues to still be healthy based on quarterly numbers. However, no movement on the IRS issue is not a good sign.
Pathetic is an understatement… I have a relative whom works at a branch of the bank PLHI uses, the IRS has siezed the accounts, and Lunan has been making payroll with personal checks – yet his estate continues on a noticeable upward market trend, as a stockholder, I’m not at all happy, but not surprised either – want to see your certificates? – drive by his 500k fence around his house!
Editor: Sorry for the delay in responding. I was separated from my computer by the San Diego fires. That wouldn’t surprise me either. Perhaps my Southland stock cert will become wall paper, perhaps not. If the IRS has seized their bank accounts, there has been no pubic disclosure through the SEC filings. Just disclosure on filing bankruptcy for one small division.
Have you heard any new news about Southland? I heard the sale was going forward? Is it ?
Editor: Been traveling the last three out of three weeks. Just haven’t had time to get caught up. Will call today, and see if I can find out anything.