GREY:BLEVF - Post by User
Comment by
Wallhallaon Apr 01, 2020 10:57am
95 Views
Post# 30868109
RE:RE:Not even worth a penny
RE:RE:Not even worth a pennyThe problem is they have never been able to produce a product for less than they sell it. COGS and expenses are too high (COO makes $300,000 a year plus $75,000 in Board fees). They have significanta and crippling structural debt that will be hard to setlte because they are not profitable. Selling London is not the answer. They owe more on it then they will sell it for (or very close to). They are at risk of losing the property entirely as the Vendor Take Back mortgage is due in September 2020. If they do not sell it before, the vendor has teh right to take the property back and Beleave gets nothing.
jb24 wrote: Give me a break, A Licended producer, doing 1 million /q in bad times with the potential to make 10 times that amount. The sale of London property would put BE back to full strid. You obviously have a bid in for .05 --otherwise you would not be here---bashing. gla