RE:The 10,000 share question ISI think if you take a second and realize that the JV has been investing significant monies in the planning and engineering for the entire community you can settle down.
Despite those significant expenses, the co. is reporting income from the JV.
I have said this numerous times, for the sake of a few bucks, you can be out. I am on the bid. (700 times 40 cents is $280)
I bought stock at $6.50 this week.
As for the 10k shares, the insiders have bought 15 million dollars worth so far this year.
I would pay up, but, it is a bear market, and I will catch what is tossed, including the 10k if it is.
The Mission Council met on Aug 15. The documents are on the city web site. The meeting at the hour 45 min point discuss then pass the Silverdale Central plan in a final approval.
Over 10,000 units planned. At least 7000 are the JV's. This is just Central, and there is commercial and institutional lands to factor in as well.
This is simply, many billions of JV revenue and hundreds of millions of income.
MPC at $6.5 is very cheap without Silverdale, With the Silverdale cash getting compounded, this will be a multi bagger.