ProGreen US Inc. (fka PGUS)

[Potse]

Disappointing business plan......

I was pretty disappointed with the new business plan of acquiring income-producing properties in Michigan. It's probably unlikely to generate a great deal of investor enthusiasm, and certainly isn't what I had hoped to see when EIG and Jan Telander gained control of the shell. I was looking for something a bit more exciting from the get-go. Most likely this significantly decreases the upside on the stock.

When I first saw that DPRI was changing its name to ProGreen Properties, I thought maybe the business plan would involve real estate or other assets that had strong ties to EIG Venture Capital's interest in clean/efficient energy. But unless the business plan drastically changes or broadens out, it doesn't appear there will be any major connection.

I will grant them this, though: The Telander family does have a great deal of knowledge/experience in the area of real estate over the past few decades (primarily in Europe/Spain), including the founding of a large construction company and consultation/advising on large real estate deals.