To: John D who wrote (5066 ) 1/9/1999 8:16:00 AM From: Mr. Jens Tingleff Read Replies (1) | Respond to of 7609
DD and thoughts from SSPARSONS: __________ Jens, You mention a lot of things in your message that I could spend an eternity discussing with you. However, I think you need to look at this information and re-evaluate the news that came out of Oasis Resorts International Inc on Wednesday. For starters, I am convinced that ARET does in fact own Cottonwood Development. As a matter of fact, I have some proof that goes a long way in providing my point. Why our company is not following up on the Oasis Resorts news is beyond me but it appears that Delmar has been working and they are close to generating some real revenue on this large project. How do I know about Cottonwood? Take a look at the following information which I posted on the AOL Board this evening: Okay, now that everyone has read the press release (from Wednesday), I stumbled upon a couple things that in fact, appear that we just may own Cottonwood. If you folks refer to July 13, TeresaUB2 posted a message from Reuters that suggested that ARET expected completion of negotiations to purchase Cottonwood in 14 to 30 days. If one looks at July 20, a message from JOxner indicates that he saw a clip off a thread that ARET in fact bought Cottonwood but it was only announced on some "minor rags". However, the real kicker that makes me believe we truly do own Cottonwood is the press release dated July 22 when ARET was securing the loans for FAMC. In a press release that day, the company issued the following statement: "The company anticipates FAMC to generate $750,000 in revenues per year from the processing of these mortgages. The company, through its joint venture and subsidiary Cottonwood Development Corp., will be the General Contractor on the construction of a minimum of 200 of the homes built, generating an additional estimated $15 million in revenues per year." In this press release, they are clearly indicating that Cottonwood is a subsidiary of the company! I am keeping my fingers crossed that Cottonwood is in fact a large subsidiary of our company. Jens, please give me your analysis on this project which appears to be a strong possibility in starting when May rolls around. You might want to post this to SI also...this is my little contribution of due diligence research with ARET. However, I think it is extremely important that we follow up on this with the company. Someone mentioned that Dustin doesn't have a lot of information to provide with the Construction side of the business. Perhaps that is true in light of what we see here. It is very strange that A) The company is being very mum about Cottonwood, and B) The actual revenue that could come from this project. Like I said, its time to call the company to find out how this is going to effect us as it appears that Cottonwood is truly a subsidiary of ARET. Steve alias SSPARSONS _______________________ I agree to Steve's findings. Why it is not mentioned in latest 10Q is beyond my imagination, unless Cottonwood is a sub of Tomahawk Construction. The project with OIAS/ex.FXWA is described in FXWA filings. Kr Jens