Madison Pacific Properties Inc T.MPC

Nelson and Grove..........

[Malpeque2]

Is that our 65 homes going up in Mission?    Says it a neighborhood by Morningstar. 

It does not say that they are a wholly owned SUBSIDIARY of Polygon.    It says they are an "associate" of Polygon.

So...... it does leave the door wide open for the insiders to screw the minority Public Co. shareholders IF the insiders are silent partners and  also "associated" with Polygon on this Morningstar piece, does ot not Undervalue?

[undervalue]

I do not know what to say. The President of Morningstar is Ryan Lucy, Lucy is also the Sr.VP Fraser Valley for Polygon. The companies are directly related. They may have minority shareholders, I do not know. I do not think it warrants a corp. search, they are private co.s. As for getting sweet heart deals... no idea. It is possible that Madison managers or owners may be minority holders in

[Malpeque2]

Undervalue: IF you want to take the money out of the Public Co.  how would you do it? It looks like Morningstar are taking down the lots.   Probably very limited risk,  as the lots and the houses are pre-sold on commitments from the home buyers.   At least we can agree on this aspect of what is going on? Since the lot sales are going to a "Developer" as

[undervalue]

My numbers are just fine. I have been doing  small cap investing for over 40 years. As I have said, if you want out let me know and I will bump the bid size.

[Malpeque2]

You might be older than me.   I've been doing it for about 35 years!    Small Caps mostly too. Under Canadian Securities laws and disclosure,   and IFRS accounting,   when they put it in a JV it is very very hard to figure out what "exactly" is going on.   Just look at Morningstar and Mission. Virtually no details about Townhome

[undervalue]

Townhouse sales done. Roughly half of the singles are done. You can look, online. Are they "dirty" Highly doubt it. I have zero ability to break ouf the numbers for the jv other than they booked 8 so far, 4 in the last q. I do not know how to explain,  I have no inclination that anything is off side. I do know that the numbers will be so large for so long it will not matter. Again

[Malpeque2]

Undervalue:   Of course I looked.   I read the financials and MD&A filed on SEDAR for breakfast! My shares are out there at 6.95.    They are all yours.  I never had much,  as I think/thought they looked dirty.  Reminds me of KGF in Vancouver.    I had a lot of TWC,  tens of thousands,  but sold it down at a descent profit over

[undervalue]

Is that mpc or mpc.c? Or both.

[Malpeque2]

Both.   

[undervalue]

I have been getting stock on the current bids. 6.30 and 6.50. That is myself currently on both. To be sporting, I will bid up tomorrow to the last trades on both. 6.50 and 6.65 After tomorrow, I will pull back to the current bid prices and continue as before.