The accounts at dec have the liabliity of $51.5m and assets at $43.8m. Of which there is a 25% minority interest.
From what I read these 2 amoiunts would now be removed from the Balance sheet altogether. In there place would be a interest in a Joint venture. Which RNY has contributed $500k for a 7.8% interest. ( 25% by minoritites).
So effectively RNY has increased net assets by $51.5 - $43.8. = $7.7m x 75% $5.775 or 2.2cents a share. slightly less if you value the new joint venture at cost $500k at nil.
Thats how I read it . Happy to be corrected if wrong
RNY Price at posting:
29.5¢ Sentiment: Hold Disclosure: Held
