We wish... if you are referring to the Rolling Dunes sales - but the short answer is no ~ $MSTO does not have that amount of cash. The company and its holdings got 50% since we were in partners with another family LLC.
"Then" with the 50% balance SBQ hijacked 30% going into CEO Josh treasurer chest. Then $MSTO had some other interesting handouts and swamp property (wetlands) shenanigans we should have never gotten involved with - and the list goes on.
We sure wish the $MSTO stockholders would wake the heck up and ask CEO Josh for some hometown transparency. That's not gonna happen because the slight of hand movement would get exposed.
Let's see if he can drag us out of EM to pink. It's just paperwork + fuzzy math.
Ref:
Press Release: 01/04/2022
Masterbeat Corporation (OTC PINK: MSTO), a company specializing in hard, tangible asset acquisitions with an intense focus on real estate, collectible classic automobiles, and other tangible assets, is pleased to announce it has sold its 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.
In February of 2021, SBQ announced the acquisition and purchase of a parcel of land (183 Rolling Dunes) in a high-end area located in the sunny beach town of Santa Rosa Beach, Florida. The Rolling Dunes lot was purchased for $400,000, with an estimated construction cost of $1,450,000, for an “all in” cost of $1,850,000. At the time, comparable properties in the immediate area were selling for between $2.5 Million and $3.2 Million and generating an annual rental revenue of approximately $300,000 per year.
In July, 2021, SBQ announced that SBQ had broken ground and was going to be starting construction on the 183 Rolling Dunes asset. In August, 2021, they announced the lot was cleared and construction had started. In October of 2021, the 183 Rolling Dunes property was listed on the Multiple Listing Service (MLS) with an asking price of $4.25 Million.
In December, 2021, SBQ received an all-cash offer and agreed to sell the property for the asking price of $4.25 Million. The funds are in escrow until the completion of the build which is still expected to be completed in April, 2022. The 183 Rolling Dunes property will realize a gross profit of $2.4 Million ($2,400,000) and, after the Realtor Commission of 4 % ($170k), a net profit of $2.23 Million ($2,230,000) for the Company.
