I have no idea the annual revenue of the proposed acquisition company - it's just no where near $80 million per year.
I have no idea what Turek's plans regarding that statement, but it did not say that this company currently does $80 million per year, rather that this acquisition would add $80 million in sales.
I would hope you are not naive enough to not understand "related party transactions" and how adept Turek is at using them to paint a picture. That is all that is happening here, Jim is painting a picture.
Now, to appease your focus on the statement in the PR, suppose LexReal signs a contract (terms not disclosed of course) with this company to develop properties that has a total value of $80 million. The past statement comes true, a new round of PR's can be run, but more importantly, PLNI can make SEC filings that show another year's worth of 1000% or more revenue growth. (You know, like they are doing now.) Perception is much more important to reality - and extending the timeframe in which to paint the picture is also important to Jim - kind of like extending the canvas. In my opinion, the canvas on which to paint his picture has been extended by at least 20 months with this deal, maybe more. The "business" can be built through the balance of '07, the PR's can fly with how much progress is being made, and then it won't have to be disclosed until the end of '08 when the '07 year end filings come out that things out of their control (be it permits, or escrow companies or whatever - see Wicklund-PLNI/BlueLinx circa '04-'05) messed up their plans, "but we are going to regroup and come back even stronger because of it"
Again, I would ask you to not focus on what the picture that Turek is painting for you - that's just a perception, and you are allowing perception to be reality by focusing on it. I suggested, and pointed you in the direction to do so, to focus on the actual reality.
Good luck
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