TWC Enterprises Ltd T.TWC

JV Accounting

[Malpeque2]

This Highland Gate Developments Company Inc.   Seems to be the entity in which we hold our JV interest in the Homes being built at the golf course in Aurora. 

Can anyone figure out the JV accounting and disclosure in the just published Sedar Quarterly filing made last week??

I have read it two or three times and gone over it with a fine tooth comb.    The disclosure for such a large asset is a JOKE!!

[undervalue]

I read it as just the costs that have been spent to date. The break down between site costs and house construction costs are not broken out which is terrible.  The percentage of completion is missing as well. The good news is that the 2 phases are sold out, with 87 homes being worked on. It is a joke that they did not disclose the sale prices.  It is likely close to a couple million each

[Malpeque2]

There should be a new segment of operations called REAL ESTATE DEVELOPMENT and CONSTRUCTION,    with just as much detail as we see over the past 20 years in Clublink and TWC  reporting on the Golf operations. There are 3 or 4 properties under Development.    This is a Material Part of TWC business now. Just the Residential Inventory as Highland Gate alone is $92M. 

[Valueguy13]

Agree that the disclosure is poor and inadequate. at $2 million plus per house the total revenue and profitability of Highland Gate is very material. And there are 6 other geranium projects that TWc has a direct interest in

[Malpeque2]

Valueguy13: I would be interested to know what are the 6 other "Geranium" projects that TWC has a direct interest in.   You can send it to me public thru this medium or a private message here on stockhouse too.  I don't think the JV accounting for Highland Gate is accurate.   

[undervalue]

Re Florida, I am going to guess 13th floor. I have watched all the meetings at the various government levels. They are very, very good. The 10 million should do well.