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Microcap & Penny Stocks : Madera International - Symbol WOOD -- Ignore unavailable to you. Want to Upgrade?

To: Proletariat who wrote (719)	1/24/1999 12:45:00 PM
From: mahnaz mirfatahi	Read Replies (1) \| Respond to of 1979

Even if they sell the land at $96 mil. ask price (there is always room for negotiation), there will be costs to this transaction. Broker or agent fees for land sale is about 10% of the sale price(unless they have negotiated other percentage in advance). There is also about %1 to %2 escrow cost (again depending on the negotiation, who will pay for what). I personally assume a net proceed of about $80 mil. from the land sale. I would love to know how much land they are selling, so I can estimate the value for the remaining portion.

To: Proletariat who wrote (719)	1/24/1999 1:28:00 PM
From: TOPFUEL	Read Replies (1) \| Respond to of 1979

No NO NO please go back and look over the filings again Book Value was correctly stated edgar-online.com this is November 6 , 1998 filing Remember .50 book value heres how I figer it out you take total share holders Equity TOTAL STOCKHOLDERS' EQUITY $36,458,289 and divide it by the total numbers of shares outstanding at the time. As of March 31, 1998, 72,905,669 common shares were outstanding That gives you the .50 a share book value you see today if you do the same with this January's filing you will come up with a .46 book value with the new shares that where issued. this is from Jan 14 ,1999 Filing freeedgar.com Total Shareholder Equity $ 36,764,181 As of September 30, 1998, there were 79,441,839 shares of common stock issued and outstanding. .46 book value this is the equation I use to find out how the book values of a company have increased or decreased over the years I hope this helps David

To: Proletariat who wrote (719)	1/24/1999 1:31:00 PM
From: Richard L. Williams	Read Replies (1) \| Respond to of 1979

I was looking at WEIGHTED AVERAGE FULLY DILUTED SHARES OUTSTANDING in the '98 annual report that listed 90,662,473. Prole: "Fully diluted," in Madera's case, takes into account the special preferred that Ramiro holds to prevent a hostile takeoever of the company. The fully diluted number is only theoretical, unless something happens, but with this plan in effect and duly advertised, there should be no such interest to take over the company. I read Madera's offer to sell its land as $96 million for the 1st parcel of 233,333 acres, or one third of its Brazilian holdings. There will exist an option to buy another third of Madera's land, price not stated. This puts Madera's real land value at nearly $400 an acre...didn't we always know that the auditors' report low-balled the land value? If and when Madera gets that kind of money on hand, we should see great things happen...dividends and share buybacks to aid the shareholder, equipment, advice and personnel, for the company. I can't see any downside to the whole deal, except I wish Madera could do this without selling its land. Cheers! Rick