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Re: [sharechat] Omaha beach up date by macdunk

Date: Fri, 30 Jan 2004 15:52:17 +1300

I reckon the actual sales numbers are correct , but cash would not have
been recieved for a high percentage of these as infrastructure work has
only recently been completed, titles = cash into HQP pockets!! When this
cash is realised, it will be substantial.

Would this cash be sitting on the books of the Omaha development at half
year period, or in the accounts receivable column?? I've forgotten my 7th
form accounting all a hazy memory now. Any bean counters out there?

                      James Pullen                                              
                      <        To:                                                     
                      z>                          cc:                           
                      Sent by:                    Subject:  Re: [sharechat] 
Omaha beach up date by macdunk                                
                      30/01/2004 15:06                                          
                      Please respond to                                         

Looking at HQP's FY to 30/06/2003 report, they had sold $74.65m of Omaha
sections even then.  If six months later they've only added another 1.5m or

so, I'm not expecting a huge jump in revenue just from Omaha. Of course,
your real estate chap may have got his numbers wrong (hopefully).

Disc: hold HQP

At 02:24 p.m. 29/01/2004, you wrote:
>I visited this subdivision to keep up to date with the FA of hqp.
>The subdivision covers a very large area by memory 146 hectares flat to
>slightly sloping with very little earthworks required to landscape.    the

>roads kerbs footpaths and services are all completed .         The
>sections are clearly marked with small sold signs on each one.    I drove
>up and down at least twelve streets searching for a section that was still

>for sale without luck.
>Hundreds of sections the very cheapest one costs $220000 I was told
>later.  The real estate office was closed, so I called Into the first
>mreInz office on the way back to go over the building covenants, plus get
>more Info on how well It was selling.
>The agent told me { exact words not to be taken as gospel}.    He said
>:fourteen sections left on this stage so far they have sold 76 million
>dollars worth".       I  asked how much did the greedy buggers pay for It
>In the first place he said 17 million.
>I was told one stage left to go, a smaller more high density living style
>The covenants are the strictest covenants that I have ever encountered, a
>five thousand dollar bond for starters, with two sets of plans submitted
>for approval before being allowed to apply to council for a building
>permit.  About twenty pages In all to comply with.
>Then even when you sell, the covenants are stuck to the title for
>My own opinion Is they are getting double what was expected, selling at
>the top of a building boom after buying at the bottom.
>That Is my last post on this company promise, but expect a I told you so
>In six months time.
>I sold out on AIA, I chickened out If you will excuse the pun, I need
>Ideas on a new company to replace It.
>Any one done the homework on fishing companies?. Fish export potential Is
>on the rise with this chicken scare.
>                                                            cheers macdunk


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