I do not think that we, who believe in this project, are crazy or delusional.
Show me another company holding a development agreement with a government of a country to build on $700mil worth of prime beach front location, and at the same time having Royal Court of that country as a shareholder, and I will seriously consider investing in it.
My main point, and I am sounding like a broken record, is that if I was to invest anything more in this enterprise I would like to know much more details about it. My biggest disappointment in this 10-K was this statement:
'No further feasibility study is presently required or planned for the project as our financial model adequately demonstrates the project’s financial feasibility.'
Apart from a very vague design of 7 Pearls, neither we, nor anyone else, know anything about anything else. Look at the presentation material for any other development in the area!
What about figures? Two or three hotels, what quality? Is the number of Apartment and Villas provided almost 10 years ago, still financially feasible taking into account the Wave, and other similar developments in the area? Maybe we need more (less) Villas, maybe we need more (less) Apartments? What about Office space? Is there possibly an urgent requirement for a large Shopping Mall to cater for all that area? What about a Marina?
Taking into account different forms of financing for any of this various elements, a significant change in Master Plan will drastically alter existing financial model. But how? For better or worse?
That is, I firmly believe, the reason this company, as it is, cannot attract serious investment. Shame about those DA, $700mil beach front, and such a prominent shareholder.