Value Microcaps Motherboard

[abh3vt]

Cliff, did you happen to notice this backlog issue in the GV 10k?

"As of December 31, 2005, the real estate operation’s backlog (outstanding real estate contracts for sale excluding partial revenue already recognized on said contracts under the percentage of completion method) was approximately $17,460,000, compared to approximately $2,699,000 as of December 31, 2004. We expect to complete and deliver 8% of our backlog at December 31, 2005 to our buyers during the year ended December 31, 2006 and the balance during the year ended December 31, 2007. Our real estate development backlog at January 31, 2006 was approximately $16,910,000. There can be no assurance that settlements of condominiums subject to contracts for sale will occur.

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Only 8%? What's up with that?