I have reviewed the JMCP press release regarding the project. If what they say is true, and providing financing is in place, I would say that they have proposed a good project for investment. The area does not have alot of hotels and will be developing through government concessions of land for a new airport, among other things. Mind you, this isn't going to be a huge Hilton-type hotel. But the numbers they propose are in line with a small hotel-resort. If granted a casino license in the area they propose, and again we are not talking about Harrahs, it could be a lucrative investment for their company. I am interested in how this unfolds.
My concern with this stock rests with the amount of shares in the public float and the availability of the shares at the lowest possible prices, and I wish they merged into a cleaner shell. While at this point a reverse split might harm shareholders who invested based on the new management, it might have actually been a good idea before they announced their plans. I do not think a reverse split would be appropriate at this juncture because they promised that no reverse split would occur and investors relied on that material representation.
My experience in the tourist industry is this: I have two MBAs, one specializing in tourism and hospitality in Costa Rica. In addition, I previously acted as a consultant to CINDE, the Costa Rica Tourism Investment Agency (www.cinde.org), a non-profit organization.
I would be happy to answer any specific questions you may have pertaining to tourism in Costa Rica.
(Sorry about the following, but I'm required to say it): As I have made forward looking statements, and because I am involved in companies in this field in Costa Rica, I will disclose my conflict of interest in providing this opinion. First, I do not own any shares of this company. A friend of mine does hold approximately 130,000,000 shares that he purchased after the announcements regarding management changes. Second, I am an officer of Diversified Land Management Group, Inc.,(www.dlmg.info), and the Costa Rican sister company by the same name. DLMG is in negotiations regarding small hotel-resort operations. This conflict is not deemed to be material as DLMG does not presently have plans or negotiations underway in the area that JMCP is presently investing. Even if DLMG chooses in the future to invest in the particular area, it believes that the market is not saturated to the point where JMCP's success would have a material impact on its operations. Under no foreseeable circumstances would JMCP's success or failure materially affect DLMG or its operations. DLMG is presently a private company, but may or may not proceed to seek a listing on the Pink Sheets or the NASDAQ OTC BB. DLMG is not presently seeking investments, but may choose to in the future. DLMG shareholders that are not deemed to be insiders may, in private transactions, trade or sell their shares either on their own or, if DLMG chooses at an upcoming meeting, through the transfer board at transferonline.com, DLMG's transfer agent.
Rodrigo Calderon Araya
