However, the positive income flow generated by the transaction would neutralize the cost of hundreds of thousands of dollars in loans for working capital. Discussions with a number of local banks have lead us to understand that the appraised value of the asset coupled with 5 years of guaranteed lease revenue and the fact that they would score the tenant as financially strong, would rate the property, for the purposes of loan consideration, in a category of B+ to A-. This property is the top choice of the Board. However, any of the remaining 3 alternatives will meet the requirements of the project and we are prepared to move forward but, not before exhausting the prospects of closing on our top pick. It's more complicated and may take more time but, in the name of corporate prudence, it must be done. Our decision will be based largely on the action of the leasing party and we cannot control the timing of their response. Please note, "I am willing to be patient but only to a certain extent. We are being pursued aggressively by many business citizens of South Carolina and opportunity is being dropped at our door step virtually every day. It's a great place to be and it's become blatantly clear that the more patient I become the more leverage I garnish. This community is desperate and willing to do just about anything to attract investors. In my opinion the delays of last year's developments have inadvertently put the Company in the best negotiating position of its project history," said the CEO of Syndication Inc.
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