Here are my sources, I'll let you do the math and comment on the ramifications!
The amount of land that is held by Madera is stated in their 10ksb Annual filing with the SEC. You can get this at freeedgar.com Here is the excerpt:
II. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS
The Registrant continues to accumulate inventory in Brazil. The inventory now exceeds $3 Million. Shipments have begun on a regular basis, although it continues to be difficult to obtain appropriate shipping schedules from shipping companies. This is expected to change as continued regular shipping occurs. Profit has been demonstrated for several quarters and will continue into the new fiscal year. The prophecy discussed in the previous fiscal year is beginning to materialize. The accumulated inventory will be turned into profitable sales as the current year develops. All administrative expenses are being held to a minimum and will continue in that manner. Based upon the inquiries that have been generated by the sales force, it appears that the projected sales are approaching their target. The shipments, however, continue to be dependent upon financing which the Registrant expects to continue to receive.
The producing properties now held by the Registrant encompass approximately 707,000 acres.
This was the original news release that dealt with the land sale
biz.yahoo.com
Here is an excerpt:
This exclusive marketing agreement calls for the sale of company owned timberland in the State of Amazonas in Brazil for a total price of US$ 96 million, with an option for the sale of equal one-third portions. Mr. Rudy Pitaluga, Director for Keyes Company's International Division in South Florida, stated that Keyes has received numerous inquiries from various international companies interested in purchasing these properties. There appears to be a good demand for land in these parts of the world because it is expected to increase in value very rapidly in the coming years.
The company is in position to approve expansion projects such as the acquisition of two more sawmills, a plywood plant, and equipment to manufacture finished products such as furniture parts and moldings, once the land sales have been finalized. The company will also increase its environmental replanting programs with the additional funding achieved from these land sales.
This is from the second news release that clarifies the amount of land:
biz.yahoo.com
Madera Announces That the Company's Marketing AgreementhWith the Keyes Company Does Not Affect its Timber Producing Properties
CORAL GABLES, Fla., Jan. 27 /PRNewswire/ -- Madera International, Inc. (OTC Bulletin Board: WOOD - news) announced today that the company has received many inquiries from shareholders concerned that the company is selling off the full extent of the company-owned timberland assets in Brazil. Management states that the company has no intention of selling the company-owned timber producing property in the State of Amazonas in Brazil which accounts for 25% of its total land holdings. These properties that are incorporated into a company-owned and government approved Forest Management Program since 1994 are not for sale. The company is, however, active today in the sale of land as well as the sale of wood products, as outlined in its fully-owned subsidiary's website ownatree.com.
Ramiro Fernandez-Moris, CEO of WOOD, stated that the sale of all dormant land not used for timber harvesting by the company to organizations interested primarily in its preservation will allow the company to better achieve its industrial growth projects while at the same time continuing to preserve large tracts of virgin timberland properties, positively accomplishing the goals of our subsidiary in its environmental protection of efforts.
Dave
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