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

To: Metacomet who wrote (781)	1/24/1999 10:59:00 PM
From: Metacomet	Respond to of 1979

Couple of comments re: the real estate deal. The value on the books usually has no relation to market values. The asset value can be related to acquisition cost, tax considerations, and the time it was booked. Any of these can result in a legitimate accounting treatment that is totally at odds with market value. As a publicly held company, pretty sure Madera probably has a legal requirement to announce any plan to significantly change the asset mix of the company. Press release would have been constructive notice of managements contemplated action. Notice a lot of speculation here about new found value. Would only caution everyone that all we know from the press release is that Madera claims to have entered into a real estate listing agreement with Keyes. They mention an asking price for the property. Any assumptions of immediate cash in line with the announced asking price is highly presumptive. Suggest you think in terms of how long you would reasonably expect such a parcel to be on the market, (sold any real estate lately?) Obviously Madera has not placed a liquidation price on the property. There are probably very few qualified potential buyers and cash terms in these deals are probably unheard of. Guess I would be sorry to see a buying frenzy on the basis of a real estate listing that will probably stretch out over months or years before there is any closure. I can hear the recriminations now about how Madera lied to us etc.... YMMV