Read the PR, it says that right at the beginning:
MPTV Inc. Announces Expansion and Financing
NEWPORT BEACH, Calif., June 11 /PRNewswire/ -- MPTV, Inc. (OTC Bulletin Board: MPTV - news), a Nevada corporation, announced today that financing is set to close for their expanded Lake Tropicana timeshare project in Las Vegas, Nevada on Monday, June 14, 1999.,
Also don't forget about the most shocking part in the whole news release:
Management expects the project to generate 20,592 units of timeshare sales at an average price of $12,700 over the next five years. The
expanded project will consist of 48-two bedroom Villas and 348 two-bedroom units to be located in the newly constructed high rise
buildings. New construction will consist of a 30,000 square foot ''Nationally Recognized'' fitness center, spa, natural wellness center and
restaurant
Run the numbers, it's amazing!!!
20,592 X $12,700 = $261mil
That's a 230% increase in revenues from what was originally planned.
That makes up a lot of ground for the shares that they had to issue.
My hats off to Jim Vellema and crew for a job well done.
WAY TO GO MPTV!!!!!
Tom |
