RE: i think we are for sale..... Who is this "independent qualifed valuator' which gave the processing division the $8 million value?
The Operating Partnership acquired a portion of the Assets from the Company in consideration for
the issuance to the Company of a promissory note in an amount equal to $5,200,000, the fair
market value of the Operating Partnership’s 65% interest in the Assets as determ
ined by an
independent qualified valuator (the “Acquisition Note”).
Three individual acquirers
(the “JV Purchasers”) acquired the remaining interest in the Assets from
the Company for a purchase price of $2,800,000 which was satisfied by a cash payment of
$504,000 and the issuance of promissory notes in the amount of $2,296,000 (the “JV Notes”).