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Microcap & Penny Stocks : TNRG Tianrong Building Materials -- Ignore unavailable to you. Want to Upgrade?

To: Wayne J. who wrote (4445)	1/12/1999 2:58:00 PM
From: Sigmund	Read Replies (2) \| Respond to of 9824

<<<< I hope this helps--it's not just my opinion--it is now available on the TNRG Site. <<< Pretty nice website except the shading on the list of press releases makes that very difficult to read. An easy change. Didn't find info on the shopping center. I don't think it is included in the financials that are on the site. Perhaps I looked in the wrong place or didn't realize what I was looking at. As I recall, the purchase price for the shopping center was about $50mm. At 8% that is $4MM per year. I didn't see anything like that in the financials. The interest expense that was in there seemed like a wash it was was shown both as an expense and as income. Was surprised however to see the financials include what appears to be a manufacturing operation. Didn't realize that was part of TNRG. Don't recall seeing any PR on that. It is a sizable and apparently profitable operation...but that is different than the shopping center. So I still don't know the answer for the shopping center. My back of envelope calculations were at the time that the shopping center was a wash and its success depended on capital appreciation which is usually the case for real estate.