a select investment could reap fine harvest, page-17

The main risks are debt and weather.

With debt $50m is long term debt so shouldn't be a problem and the other debt we have/had was working capital which is reviewed annually and the acquisition debt, this presumably was repaid using the proceeds from the sale of our water rights.

As we have seen over the last about 5 years weather can play havoc with our profitability, the whole reason why SHV went down the MIS road back in 1997.

Hopefully with our geographic diversity the weather risk is mitigated to some extent.

I'd still like to know who is buying the Lake Powell Almonds and it if isn't SHV whether they'll retain us as managers of the orchards.