It's funny, I look at this company and can see 80 cents or bust;...

It's funny, I look at this company and can see 80 cents or bust; have the management hedged themselves with this loan? If it goes well, they pretend it is all of their doing, if it goes badly then they possibly get the land as a creditor for 4.4 million - as noted by others. My only question, and not that it really matters, but are management that smart? Actually, it is surprising how often policies introduced by greedy morons with no forward planning whatsoever can sometimes turn out to be shrewd albeit Machiavellian moves. All by complete happenstance, of course, but it does happen.