|Decided to up my speculative position in SKIS(2 additional purchases).|
Basically I'm doing this for what doesn't show in the financial reporting, short of a few small updates.
The state of Vt had a (the only in the state) regional EB-5 office. The feds shut it down do to mismanagement(investigation continues)/fraud) As a result SKIS's $52m got held up in escrow but the state, in turn resulting in a shortage of operating cash, hence the preferred $20 m stock placement. One of the reasons they ran short of cash was they spent $12m of their operating cash to get started on the projects which the EB-5 placement is paying for. I'm sure they've been paid back. They also get a 15% management fee on the EB-5 money.
SKIS has applied to the feds to become their own regional office for further EB-5 investments.
As mentioned their is plenty of foreign demand for EB-5 placements and the resulting 2 year green card.
imo, this could be big for the company.
In my research it seems that this is common place, for a company to run a regional office.
Of course I'm probably bias (g)
Keep in mind the company only makes money in 2 quarters, so the financials can be a bit misleading.
The also had a bad winter a few years ago. And the acquisition of Hunter mountain which also clouded the financial reporting for comparison basis.
.....and I am predicting a strange winter, can't remember last when the leaves were dropping so early with not much color..Lot's of pine cones on the trees this year and the beech nuts are high off the ground(lol)
Some QCOM liquidation is paying for this new investment in SKIS)