Presidential Realty Corp. (PDNLB)

[db7]

another 8k excerpt... big plans(?):


"


SCHEDULE 1.9



[BASIC TERMS FOR SHAREHOLDER’S AGREEMENT]



Subject to approval of the Board of Directors of the Company following the Closing for the T9 Property (and the shareholders of Class A stock of the Company if determined necessary or appropriate by the Board) the exchange of $5,000,000 of newly issued Class B shares of Presidential for the Class A Controlling Stock (the Class A Controlling Stock may be transferred to an entity (e.g. an affiliate of the Company) as determined by the Company) upon the earlier to occur of (a) Presidential having achieved total stabilized net asset value of not less than $200,000,000 or (b) 18 months form the Closing for the Avalon Property



"