Ann: Deferral of Distribution Declaration , page-5

Not so sure this is dead I have been going back through Record Realties accounts as well as speaking to the company direct. It appears that the lenders have taken a haircut on some of the loans that have been renegotiated for the new properties that are going to be on balance sheet. I suspect that this will add some 20 Cents to the current NTA as well as 44 Million USD in gross rentals.

In terms of distributions this will provide many more $ in availability. A comment was made to me that the Gross value of the properties on the balance sheet will increase from 280M to 500M however not sure what the bank debt will be over the pur Price + mez Debt of 78 mill for the items that they are adding to the bal sheet.

The implication is that they have bought the properties at Rock bottom prices with only upside. The Company says all will be revealed in 2-3 weeks. I haave bought more inits in the meantime!