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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (25807)	1/24/2007 12:48:36 AM
From: a128	Read Replies (1) of 78748

WMSI has land worth $15-30 million. Its on the books at ZERO as they paid $600k for 40 acres and sold 1 acre for about a million. (The other 39 acres are on the books at ZERO) I was wrong about the CEO buying, his 72 year old father and founder has been buying. But, he is 71+ years old. There is some question about their ability to use NOLs to shield gains on real estate. The plan....eventually...is to sell their expensive land and move to a less expensive area. Now, they are real close to DC and the bus station folks wants some of their land. Its potluck on the 2nd quarter. But the 72 year old founder aint buying for nothin ! Biggest risk is 3.65 million shares out. SOX savings could be significant. But, a pinksheeter is a helluva lot less liquid than a nasdaq stock. (In the event they decide the cost of staying public isnt worth it)

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