if they have a 25% margin, which is a bit rich, but not by that much on 18 million in revs, thats about 13-14 million in development costs.costs that do not get recaptured until closing, and deduct from current earnings. I am sure it is a great investment for PBLS, not so much not so much in its current form as a holding company. Shareholders tend to want a steady earnings stream. I would spin off the construction companies to shareholders, which btw, would create a short position for the fails with no way to make money on it, since they shorted the spin off at zero... covering at any cost is a loss. I am just pointing out a way they can easily increase shareholder wealth.
