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

To: David T. Groves who wrote (1701)	4/15/1999 10:24:00 AM
From: Alastair McIntosh	Read Replies (1) \| Respond to of 1979

David, thanks for the explanation. If I am reading the summary correctly, the $27,000,000 valuation is for 478,000 acres in Brazil plus substantial acreage in Bolivia and Peru that are long term concessions. If so, the value of the concessions in Bolivia and Peru should not be included in the valuation of the 478,000 acres in Brazil. The main point I was trying to make is that balance sheet valuations and book value should be based on cost. The only cost basis we have is what WOOD paid for the land ($1.76/acre). Al