LIGA - Why is it moving now? I think the path to big $ profits may have revealed itself.
This here from 10/14 PR may have something to do with it:
LIGA's management is now negotiating to make a deal and/or joint venture agreement to take full advantage of our $3 million tax loss carried forward. Project specific news will follow very soon since resolution of these two issues frees up management to focus on all of our projects including but not limited to the development of the properties in Brentwood, Tennessee and Buck Lake Ranch
The Brentwood project is no small item... Back in early 2018 Brentwood REVS were projected to be ~$54M
....THIS IS BEFORE PRICES HAVE GONE UP THRU CORONAVIRUS...
...HERE IS WHERE THE COMPANY WAS TO BEGIN PRICING TO GET TO THAT FIGURE:
We know units begin at $599K (increased later to 699K) but lets use this figure...
We know smallest units are 2800 sf
So we know the pricing floor is ~$214/sf to reach their prior profit goals 599K/2800 = 214/sf
....All MGMT HAD TO DO IS GET CASH/PERMITS OR A PARTNER/PERMITS TO BEGIN. LETS SEE HOW HARD THAT WOULD BE... TAKE A GLANCE AT BRENTWOOD HOME VALUES FROM 30,000 FT
GENERAL 4 BED 3 BATH SEARCH ON ZILLOW
NEW CONSTRUCTION 4 BD 3 BA SEARCH
So what does it all mean?
Well when you have a project that is well profitable selling units at $599K (whether they do or not is irrelevant b/c if not it will be higher) - and similar homes sell north of $1M - as a realestate guy myself I can tell you they will have NO PROBLEMS FINDING A PARTNER
FINALLY THE CHERRY ON TOP IS THAT $3M CARRYFORWARD LOSS. LOOK AT IT MORE AS A BUILT-IN GAIN...and if the ENTIRE SELLOUT WAS ONCE THOUGHT TO BE $54M - YOU BET LIGA WOULD GET A LARGE SHARE OF THAT BRINGING ALL THE LAND/PERMITS/PLANS AND $3M IN WRITEOFFS
IM THINKING A DEAL (WHICH WAS SAID TO BE EXPECTED BY EOY 2020 WAS IN FACT DONE OR VERBALLY DONE ~12/14/20 CUZ THE CHART SHOWS THAT DAY EVERYTHING CHANGED FOR THE SP
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