mmx quarterly rpt, page-25

Gard's...In both examples i gave we took no consideration for renovation of the houses.....in MMX's case development costs...

Ie if geoff also spent another $50,000 of his own money to renovate the house and this contributed significantly to its improved value, the this too would be taken into consideration for the apportioning of percentage payouts to both the coy and geoff.....In our case MMx have spent another $50 mill plus to prove up the value of JH to 800 mill...therefore mmx contribtion something like $60 mill chm potential contribution Still only around $400k so now looking at less than 1%.....
If indeed mmx did take 8 mill shares and sell them in 04 for lease deal i note that chm share price was around 3.5 cents at that time...hence about $260k...