how it looks post-implementation, page-3

It WOULD be nice to know how consistent that operating-cashflow figure is roastman. Is it a high figure, a low figure? Do the managers reckon it'll fall or rise in future?

I rang up investor relations recently who said that despite the sour news coming out of the national real-estate price surveys, each of the projects have been selling units without any problems. I'd like to know on a project-by-project basis a breakdown of how much cashflow they expect to derive from each of the 7 developments, in addition to the ongoing retirement JV income. There was some illustration on this in the restructure-briefing by Matthew Chun on April, but not a lot.

Also what would a prospective buyer have to pay for whole outfit? Not counting secured project debt, there would be about $117m in remaining BOSI corporate debt, and assuming full-possible dilution, 4334.6m outstanding stapled securities (most to be BOSI prefs and ACR options). At a price of 2c, that's $87m market cap.

A buyout for $200m for the equity and debt is entirely plausible IMHO, and for a group of assets throwing off $40m in cash a year, a fair offer would be, say 8x that?... Look what happened with AEVUM and STOCKLAND last year (similar profile). Just rambling here.

Disclosure: I am only coming out of the woodwork now because am now finished building a long position in BEC/BECG for 1-3yr time horizon.