Madera International - Symbol WOOD Message Board

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Microcap & Penny Stocks : Madera International - Symbol WOOD

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To: Alastair McIntosh who wrote (1697)	4/14/1999 9:24:00 PM
From: tonto	of 1979

Alistair, you may want to review the effects of the step up basis on assets. <s> What is filed will confuse the majority of investors who will ignore the basics behind that transaction... Alastair McIntosh on Apr 14 1999 7:41PM EST To the thread: I have been periodically lurking here for some time and I have a problem trying to understand the book value of the company. The land is supposedly carried on the books for a "conservative" $40.00/acre. However, the only transaction I can find is the May 1997 purchase of 251,000 acres for $441,000 or $1.76/acre. Now we are told that this value will increase approximately 100 times. In general, accounting principles require assets to be carried at the lesser of cost or market value. Also, it does seem strange that the company was able to purchase land in 1997 for 1/100 of its market value today. If there are any accountants reading this I would be interested in their comments.

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