The whole thing, imo, is not to create an equine development, but to acquire this property. It's a gentleman's ranch and incapable of supporting a revenue producing public company.
As a "showcase" for their supposed development, it's a joke. This should either be a private residence or a smalltime private business where the owner lives onsite.
All this is being done on the shareholder's dime, like you said, lazy. When this public company fails, what do you suppose will happen to this property? Of course, before that happens, it'll have been fixed up, repaired, remodeled, improved, etc, through dilution.
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