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To: Boolish who wrote (145522)	5/23/2014 1:04:04 PM
From: Rocket Red	1 Recommendation Read Replies (5) of 233884

I don't see how they value PKT building at 38 mil when they just lease the land all the money that was raised in pp's and rollback to me says something not right here yes revenue of 2 mil per q but expenes equall revenue so how they plan on making earnings? Yes its a good business and generates cash flow but i'm not sure this belongs on stock market? The Company has a ground lease agreement relating to the premises of the Canopy parking facility. With the refinancing of Canopy, management has exercised its option to extend the lease to 2035. The annual lease expense from 2014 to 2030 will be the greatest of 5% of Net Sales or US$500,000 per annum. From 2030 to 2035, during the first option period, the lease expense will be the greatest of 7% of net sales or US$625,000. There are three remaining options of five years each, however at the exercise of each option, the landlord has the right to terminate under certain conditions.

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