if you are including management skills as a form of valuation...

if you are including management skills as a form of valuation then mae is well and truelly in the red.VALUATIONS NEVER INCLUDE MANAGMENT SKILLS AS PART OF A VALUATION.GET REAL.......

MAE is no where near being valued unencumbered for if it was unencumbered,there would be no problem with finance.The problem is mae have chewed up equity and some with minimal gas flow to boot.

what you have provided is wishy woshy poomhat as it does not address my question at all

"in mae's case $23M=X-$45M" ??????? What is the factor of x pomhat? You have provided no evidence to support YOUR CLAIM that mae has $68 MILLION. in real estate.

You made the claim.