There really wasn't enough discussion of the 10K by the longs imho.
Some really good things from last filing are the reasons i got back in at .012 recently.
1)Getting rid of all this debt
Also at the time of the merger, Turnaround Partners, through its wholly owned-subsidiary Lehigh Acquisition Corp. ("Lehigh"), acquired a five acre parcel of un-developed acreage in Cranford, New Jersey. Turnaround intended to develop the property into a 55 and over residential community. In February 2006, the Company sold Lehigh to Cornell Capital Partners LP for total proceeds of approximately $5,556,000, including cash of $93,000, repayment of $ 4,881,000 promissory notes and $400,000 convertible debentures to Cornell Capital and payment of $182,000 of payables. The transaction resulted in a gain of
approximately $3,317,406 in February 2006.
2)No lawsuits or dirty crap going on
ITEM 3. LEGAL PROCEEDINGS
None.
3) This is really where longs should be looking.
Who are the three companies they got paid in stock and cash by.
We all know about NXNO who are the other two companies they are helping turnaround????
Consulting revenue increased by approximately $780,000 to $963,277 in the 2006 Period. Consulting revenues are generally one-time fees related to specific events, or contracts covering services to be rendered over a period of time. The Company
enters into contracts to provide strategic consulting services, including general business development, mergers, acquisitions, management advisory, and restructuring services. There were three such contracts at December 31, 2006. The contracts generally provide for a base payment equal to $6,000 - $12,000 per month, which may be payable in stock, with additional fees for consulting services beyond a preset amount. Some contracts include warrants or success fees. One of our existing agreements calls for payment in stock of approximately $44,000 per month.
