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charhorse

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charhorse

Re: None

Monday, 02/19/2007 1:07:54 PM

Monday, February 19, 2007 1:07:54 PM

Post# of 3268
The leasing of property has been discussed here.
I just thought I would post this information as a matter of clarification.
From the CFRI disclosure
https://www.otcstockinfo.com/repository/659764/659764_FR7.pdf

The Administration Offices are located at 18 Fairground Lane, Vaughan, Ontario.
The administration offices are 1,528 per month. The Fairground Property is owned by the Principal of the company and is leased to the company for the cost of the mortgage and the property taxes.

Many companies lease equipment or facilities from themselves or subsidiaries. The disclosure does not mention the terminal ownership and neither location can be considered to be equity belonging to the company. Improvement to the leased property are the responsibility of the company and are funded by monies from operating cash flow
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