IAHL Corporation (IAHL)

[binzur]

You are correct. My point was worst case scenario! Only as a last resort would you develop the golf course land. I wouldn't say bad management. In my conversation with Ed he simply said that the members had gotten old and didn't have the energy or the interest in keeping the club up. I can see that and I guess you can call it bad management I just can see people who have been with this club for 20-40 years just running out of gas! There are also some very nice homes on some big parcels of land right by the country club. I would hope we go after those after this gets rolling. When I talked to Ed he stated engineers were already "hard at work" on the layout for development. Don't think we would be spending that money if we were not closing on the deal.

Angel stated something in his report that caught my eye. They amend the Q3 audit to include the CC. I have to believe this appraises out very well. I was also told we are paying cash for this. This really adds tremendous value to the balance sheet. This can be done quickly and not delay filing of AF's through Q3 much into January. I was concerned that they wanted to include all of Q4 and we would go into February without any AF's and that would suck!!!!! First or second week of January for AF roll out is fine with me!

Happy Holidays
Binzur