#1's picks

[Ken B]

Relm board is getting full but I found this on RREH in the June 2009 fins page 12. Assets of 435,000,000 helded in escrow.



RELM Assets consist of Goodwill in Affiliates and Equity (Public Stock) in One Affiliate
Relm’s assets are based on a consolidation of financial statements as of June 30, 2009, which state an asset base of $25,597,725, primarily attributable to i) Goodwill: $3,423,963 in RREH and $3,196,963 in AVI, ii) $1,526,282 in intangible assets, iii) $16,500,000 in Public Stock issued by an affiliate company valued at current market of $16,500,000, (iv) $282,447 in account receivables, and (v) $768,202 in other assets. The bulk of the consolidated assets in the affiliate are held by RREH in an escrow account that has been valued on June 30, 2009, at $435,000,000

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=24127

As for GSR Corp LLC they no longer have a letter of intent for the hotel they backed out in the fall of 200 that's why JP took if over. I read this in the fins I just can't find which one.


It was announced February 23, 2011 that California based Meruelo Group has purchased the resort for a yet to be determined amount