Happy New Year to you, too, Gibby! Just to reclarify the $20 - $30 figure. I am NOT saying the market will definitely reward us with those prices, but I am saying that the BOOK VALUE will reach those values (definitely the $20 figure ... not as certain about the $30). I've gone through the math several times now on this blog, and it's irrefutable ... with the main driver being the land. So I'm not sure why you are so skeptical about those values? Are you just extrapolating the current sub-$1.00 price as being so low that it's impossible to rise to $20? That wouldn't make sense given the facts behind the upcoming increase in BV. It WOULD make sense if it was simply based on improved business conditions, etc. But this has everything to do with contractually obligated cash in-flows and the "contribution" of marketable land.

I have always emphasized the difference between market value and book value. Our hope is that the market will recognize that this company will be or IS worth at least the underlying value of its net assets (net worth). Even a modest discount from the BV would be a huge improvement over the current BV and current market values.

So don't pooh pooh the values just because they are astronomically greater than current values. There is a very good reason for the gap between today's value and tomorrow's value. All this is predicated on the DA being signed. I understand where you're coming from regarding the doubt that the DA will be signed (I disagree with your pessimism, but that's ok).

Does this make sense?