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Re: bagfull post# 2285

Sunday, 04/27/2008 11:45:07 PM

Sunday, April 27, 2008 11:45:07 PM

Post# of 4003
Good luck, you may be right especially if the meeting goes well next week.

Mind you, the latest filing below show the company at that time had some financial difficulties, i would agree with your specualtion on hfa reverse merging into ecgr, this would allow them to raise funds, wipe out debts and aquire cash for their projects. Seems like something they should seriously consider, an uplist would be easy if in fact hfa is worth 400 million.

Just seems hard to believe, if they have that kind of clout why are they constantly needing opm going forward?

Hopefully soon they will announce something of this nature.

Current Assets
Cash $ 20,069
Restricted cash 33,068
Tax escrow 41,154
Prepaid expenses and other current assets 15,615
------------

Total current assets 109,906

Land 9,393,374
Deferred project costs 5,437,692
Deferred financing costs,
net of accumulated amortization $1,049,884 208,120
Website development costs, net of accumulated amortization of $13,387 41,719
------------

Total assets $ 15,190,811
============

LIABILITIES AND STOCKHOLDERS' DEFICIT


Liabilities
Current Liabilities
Mortgages and notes payable $ 8,389,011
Convertible debentures 6,618,782
Accounts payable 1,122,664
Accrued expenses 964,139
Due to stockholder 57,074
------------

Total current liabilities 17,151,670
------------

this information if accurate today would suggest the company is not in a positive financial situation at all, ad not possesing the 400 million in assets i keep reading about

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