Replies to post #50239 on ProGreen US Inc. (fka PGUS)

[j45]

The Appraisal was 42 mil for the market value of the property "AS IS".


that's the fact. Any BS to the contrary is exactly that.

[AOS1212]

The land is in the middle of nowhere. No airport within 5-6 hours. No infrastructure whatsoever. There’s a reason why it was cheap. Jan did a good job of getting together the large number of the land’s owners and negotiating a sale.

And don’t forget that the Mexican government has yet to approve the change in land usage. So, at present, no authorization to even begin development. I thought that an envelope with some $ would suffice. The fact that the government has yet to approve it is disconcerting. The bridge loan is undoubtedly tied to, among other things, Mexico’s approval. A bridge loan WILL NOT happen before it is granted. At least...no sane lender would approve it.

And then there are the loan defaults. That’s another story...

[NONON2]

Wrong. Not the value of raw land. And undeveloped land in the US doesn't even compare to mexico.