Replies to post #50673 on ProGreen US Inc. (fka PGUS)

[tigerpac]

It's on the Balance Sheet. You have to remember that land is booked at LOWER of cost or market. In this case, Land under development, the cost was $500K.

Out of curiosity, does anyone know why is the Cielo Mar land not on the current balance sheet? They're looking to get a $5 million loan and use that land as collateral. Should be listed as property shouldn't it?