Although this isn’t relevant to most readers of this blog, I feel it’s important that I chronicle the events that are happening now with Concrete Equities – because it doesn’t look like anyone else has a blog on which they are doing so. My intention isn’t to turn this into a “Concrete Equities Blog”, but since I have a rather large chunk of money invested with these guys, I think you can understand why this issue is important for me to track.
This morning I received an update from the President of Concrete Equities Inc., via email. If you’re an investor with Concrete Equities, please take the time to read through this discussion thread (UPDATE: it has since been deleted, but Google’s cached version has some of the info) – you’ll learn a great deal about your investment and the status of is. That thread is also where they announce meetings of investors. As for this message from the President of Concrete Equities, it’s hard for me to separate fact from fiction. I think the financials will reveal the truth in time. This is a long message – the first section is about the Mexico investment, of which we have a unit in Santa Clara, and the remainder of the email is about the Calgary investments (we have the Castleridge investment).
Dear El Golfo (Santa Clara) Investor,
At this time, our firm would like to update you on current developments on this particular project. El Golfo de Santa Clara region remains viable for future tourist development. Being the first point of beachfront on the Sea of Cortez along the coastal highway in the state of Sonora it is developing into a great drive-to destination for Americans. When the project began, the coastal highway was under construction and the international airport was being conceptualized. Since that time the coastal highway is near completion and the international airport to service El Golfo de Santa Clara and the Puerto Puenasco (Rockypoint) area is well underway. Also please keep in mind that your investment is a solid, equity based land hold with no mortgage or debt position on your asset. Continue reading A Status Update From Concrete Equities