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American Locker Group Inc. Message Board

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  • bskptkl bskptkl Feb 4, 2010 10:17 AM Flag

    Building sold!!

    from the 12/31/2008 10K released on 2/2/2009 (just a little late!):

    "On September 18, 2009, the Company closed on the sale of its headquarters and primary manufacturing facility to the City of Grapevine. The Company is entitled to continue to occupy the facility, through December 31, 2010, at no cost. The City has further agreed to pay the Company’s relocation costs within the Dallas-Fort Worth area and to pay the Company’s real property taxes for the Facility through December 31, 2010. Proceeds of the sale were used to pay off the $2 million mortgage loan from F.F.F.C., Inc. and for general working capital purposes. The City paid a purchase price of $2,747,000. The Company estimates the total value of this transaction at $3,500,000."

 
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