RE:Dividend Paymnet on May 31, 2016nash1210 wrote:
50 CENT PER SHARE DIVIDEND TO BE PAID MAY 31ST
Nice to some of the wealth being shared.
NASH1210, still follow this one? Looks like they are aggressively trying to wind everything or get the cash to start something new with the settlement of the note with Park Law Corp.
In prior release, "
The Company has retained a 20% interest in the land and has entered into a co-ownership agreement with Mattamy. The co-owners agreement contemplates the development of the land for low rise residential development. Under this agreement Mattamy will be responsible for managing the approval process, site servicing and sale and construction of the units. The Company and Mattamy will split profits from the development with 20% going to the Company and 80% to Mattamy. Park Lawn could receive total net income of approximately $10 million from the project. "We are delighted to welcome Mattamy Homes as our development partner in this exciting project" said Frank Mills, President."
At last check, there is shareholder equity of $12.6 with the remaining 20% land not be marked to market (listed as $530k, it would be worth $2.05 million pre-tax at the price Mattamy paid), what does that 20% co-ownership right worth excluding the land?