Risk Factors Update Summary
- The Article 78 proceeding could now take an additional six months or more for a decision.
- Estimated net assets increased from $37 million to $72 million, with net assets per share rising from $20 to $51.
- Responding to activist shareholders' campaign cost the company approximately $1,317,000.
- The company secured a second loan of $3,000,000 with an outstanding balance of $2,730,973.
- The company anticipates modifying loan terms after the subdivision to remain secured by the subdivided industrial park lot only.
- The company secured a term mortgage loan of $1,500,000 with a floating interest rate of 1.5% per annum.
- Changes in federal tax law could adversely impact the company's ability to retain executive officers.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1589061&owner=exclude
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