Replies to post #90294 on APT MotoVox Group Inc. (MTVX)

[Big Ben]

I have a quick question to ask. As i read it cerner was asking the public for 110 million in assistance. How does everyone even know if this is the full amount of the addition?

[Kool Aid Man]

This is a terribly "blighted" abandoned retail ghetto in south Kansas City with two "$39 per night" welfare hotels nearby.

Records show APT purchased four parcels all all on 12/29/2011 ---$5 million (8844 Hillcrest), $300,000 (8932 Hillcrest), $300,000 (8830 Hillcrest) and $300,000 (no address). That included 18 acres and commercial 2 buildings (one of them . That came to $6.2 million 2-1/2 years ago.

http://www.jacksongov.org/SalesSearch/%28S%285f4qhfmnknsicb55bm2cop55%29%29/Results.aspx

This puts the appraised value much MUCH lower based on "comparable" properties in the area.
http://commercial-properties.findthebest.com/l/1921307/8844-Hillcrest-Rd-Kansas-City-MO-64138

I'm not an expert in kc real estate. But here in Chicago, depending on the location and demand, 2.2m an acre is definitely possible.

[hamberlinmark]

Why is the amount of the property sale still being discussed and over stated?

The last shareholders update already addressed the issue and pretty much gave everyone a price.

Per the company the proceeds of the sale will go towards paying off debt and should reduce the amount of debt by half. They have a little over 20 million in debt so half of that would be a little over 10 million.

Since the company has already pretty much told the world what the price is why would pumpers/nexters come up with these off the wall figures of 110 million etc.