I'm not saying article is wrong but they claim $29mm due this yr, HOWEVER bal sh does
not show any debt due this yr. SA is very specific .Claim $11.2mm due June and $17.5mm
due Dec. Where does this info come from? And what was pledged?
Co now lists 7 motels for sale.. Investment $28,284,000 Debt on these properties $24,414,m
.What sale price will be nobody knows. Nor do we know if any of these properties is actually
profitable.The best that can be said at the ithis point if they sell for $28mm [after exp] they can
pay down $4mm. And whose debt is it anyway? Banks?
What did this co do, Buy motels with 12% down?Bad strategy
I did not find anything. What is date of 8k? In fact 2013 10k does not show $29mm
debt due in 12 mos 10k not as bad as it could have been, 10q coming up should
show dismal results [weather related]. At .80c/sh mkt cap $16mm. Fire sale price