So you are saying that they convinced the owner of the townhomes that PBLS common would be worth $10 a share some time in the next 5 years? If that is true, I need these boys selling for me.
But the one thing that is confusing to me is the simple fact that it says in the recorded contract if the price of PBLS Preferred falls below .03, the option can not be exercised. As I don't see how the Preferred could change in face value (as they are valued at $10), I made the assumption they were meaning common, as .03 was the price of the last buy back.
Either way, check out the document and please do clarify. I buy and sell real estate all the time, especially condo conversions as that's a "hot item" investor-wise in the current market. In fact I looked at 3 locally today for an investor I have out in Los Angeles. However, sadly I don't have the ability to give stock away as consideration and so this is new territory for me. THIS DEAL is so small in the great scheme of things that it's really not that big of a deal. We're just biding time until the next news.
"Experience: that most brutal of teachers. But you learn, my God do you learn." C.S. Lewis
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