Masterbeat Corp (MSTO)

[Dr Blunt]

$MSTO timelines and property ownership - for those of you know who have been following along - MSTO sold the 183 Rolling Dunes, Santa Rosa Beach, Florida beach property for $4.25 Million ($4,250,000). The land acquisition and construction costs for this property are $1.85 Million ($1,850,000) which realizes a $2.4 Million ($2,400,000) gross profit for the Company.

The Basics per CEO Josh PRs: (see pic 1)
(1) February of 2021, SBQ announced the acquisition and purchase of a parcel of land.
(2) July, 2021, SBQ announced that SBQ had broken ground and was going to be starting construction.
(3) December, 2021, SBQ received an all-cash offer and agreed to sell the property for the asking price of $4.25 Million.
(4) funds are in escrow until the completion of the build which is still expected to be completed in May 2022.

Timeline of Ownership: (see pic 2 & 3)
Take a look at the pics and you can see MSTO SBQ at the time of the build and thru last month did not own the property. CAMACHO MATTHEW & MICHELLE (H&W) were the sole owners of the property at 183 Rolling Dunes, Santa Rosa Beach, Florida who took title of the vacant property lot Feb 09, 2021 (last year). At that time MSTO SBQ was nowhere to be found.

If you compare the posted PR timeline to the county filings MSTO SBQ had broken ground on construction and received a full cash offer on a build we did not own. That property is owned by MATTMICHCAM HOLDINGS LLC.

Pic 3 shows a year later (this year) on Feb 09, 2022 MSTO SBQ was granted 50% ownership of the lot as the build was finishing completion. The parcel summary in pic 3 clearly indicates there is now a 50/50 split of ownership on the land. While we can't stand tipping our hand over the extensive DD - CEO Josh "slight of hand" movement gets weary.

Once you go back and sync the PRs which we have said on many occasions CEO Josh takes great liberty within the forward looking umbrellas of 27A and 21E. We have via the social platforms since that seems to be his place of encampment and asked many times for company and executive officer transparency. As you can see CEO Josh transparency is less than candid.

So what does this mean for the long termers? We still think he needs to complete the current build as a proof of concept model. Doing so will allow him to fine tune the "so called leaks" in the COCs and thin the waste and shore up the future time tables.

As noted many times before, nearly every step of the way CEO Josh has made ~ has been to protect his interest at the expense of the retail investors. We think overall there is long term value in the pps - however, it would be helpful as noted today that there is a constant check and balance from the long termers in watching the side movement in his PRs.

More on this later...

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