I have a situation.
( I ( ( have ( a situation ) ) . ) )
(ROOT (S (NP (PRP I)) (VP (VBP have) (NP (DT a) (NN situation))) (. .)))
This situation may be good or bad.
( ( This situation ) ( ( may ( be ( ( good or ) bad ) ) ) . ) )
(ROOT (S (NP (DT This) (NN situation)) (VP (MD may) (VP (VB be) (ADJP (JJ good) (CC or) (JJ bad)))) (. .)))