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

To: Grabs who wrote (4452)	1/12/1999 4:27:00 PM
From: Sigmund	Read Replies (2) \| Respond to of 9824

<<<< Regarding the interest expense on the mall, it does not appear that it is included in the statements. The interest income is probably income on escrows held for tenants (like security deposits), and interest earned on cash. The interest for the loan/debentures is probably paid at the TNRG holding company level, not at the subsidiary level. That would go along with what Tilton said in his conferrence call that interest was about equal to after tax profit on the mall. <<<< That is how I see it. I think it would be more accurate if Tilton didn't report one half separately from the other half i.e. income from the shopping center separately from the interest expense of funding the investment. I am now intrigued with what appears to be a manufacturing operation or construction operation (modular homes) within the company. This seems to show up in the financials but I don't recall it being talked about before. I haven't been following the postings 100% lately so I might just have missed it.