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Alias Born | 12/22/2010 |
Monday, February 15, 2021 9:45:44 PM
"The property also includes a house of approximately *2,175 square feet (the house
and land collectively “Property”
"The unpaid balance on the
note secured by the deed of trust as of December 31, 2020 was approximately *$979,000."
https://www.otcmarkets.com/stock/ECGI/news/ECGI-Holdings-Closes-on-Definitive-Agreement-to-Acquire-California-Property-for-Cannabis-Cultivation-and-Manufacturing?id=287471
.
*Several things...First, jimmy's private held LMK Capital purchased Lower Lake property for $1,375,000..Jimmy nabbed a $250k sgmd deposit for original mj gig, plus a couple of mortgage payments puts us in $979k balance range
2nd, notice mention of 2,175 sq ft house, which just so happens to be included in the 6 acre zoned mj area..:)
3rd, notice Jimmy's LMK Capital originally purchased a 40+ acre property that included 6 acres zoned for mj, licenses yet to be received..Just so happens ECGI states property size is 1.7m sq ft...and 40 acres x 43,560 sq ft per acre equals 1,742,400 sq ft.
You can review the original Lower Lake property listing link info and confirm (humbly) I'm on point...:)
https://www.redfin.com/CA/Lower-Lake/8159-CA-29-95457/home/45646312
I was never a fan of Jimmy's Lower Lake seemingly self serving purchase..But possible Jimmy abuses ECDI dilution and finds a way to benefit sgmd..and who knows for ECGI, the Asian boys have a splendid track record with installing associates in several shells.
Expect Jimmy to update (and spin:) certainly by next Q financials.
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