Replies to post #36886 on ProGreen US Inc. (fka PGUS)

[Davis_Elite]

ProGreen acquired the Cielo Mar land for ProGreen with Contel as part of the Procon JV, for "pennies on the dollar," and ProGreen owns 51% of Procon, so ProGreen sees 51% of value and proceeds. I previously guessed that we might be paying $1.44M for this land but, as it turns out, we paid $500K. But this has NOTHING to do with the actual value - of just the raw land, I mean, before any value is add from plans and of course future profits. With 51% ownership, we just added 51% x $15.848M = $8.08M in value to the business.

Now we have all this and lots being sold....

Another 5 million added to the value