Some investors will use any excuse instead of admiting the truth. That statement was more an act of desperation than anything else. Sure they can sell some JVs, and if they get lucky and pull the right strings at the right moment, they might make a big deal that is worth something.
I can see them now, working feverishly to make just one big deal come through. If they can make one, then the odds are in their favor. Otherwise, this position is most likely toast. They have not know how to develop what they set out to do. They might get lucky and the sideline turns out to be the money maker, but I certainly won't stick more money into this for the sake of such a big maybe. I wonder how many pans they have in the fire, and if any of them show any real promise.
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