I am about ready to take a loss and move on. I think we could hit $1.60 today. If we get back in the $1.80's I might start to sell some. This is going to be dead money next 3-6 months IMVHO. Looking at balance sheet I have concerns. Several lines will jump % wise when revenue drops in slower selling season. Total assets came down as did liabilities but assets dropped more than liabilities. Ara is the problem. These guys are now selling houses to sell houses. They would have been better off reducing expenses and raising home prices and reducing unprofitable sales. Just blown away how these guys don't make the right decisions. I underestimated the stupidity of Ara.
Ladaclay--thanks for info. I suspected that might be the case. Now, my last question is.......when they go in to a new community and they build the roads, pool, club houses and other infrastructure is it expensed immediately or proportioned out to each house being built? I also think the NOL's are very valuable. If HOV ever got to making $100 million a year we are talking 20 years to get the full benefit. There are many cases of reverse mergers so someone can figure that out. HOV just has to get profitable for at least 2-3 quarters so we get the NOL's back on balance sheet. Headline news today is mortgage applications down 4.1% but they are actually up an amazing 42% from last year. Thanks. DaninFW