We currently have four (4) Asset Sale Agreements which the JV parties are currently negotiating. A final sale price and agreeing on price and terms are contained within the Sale Agreements. Terms are as listed below.
$4.58 Million with a settlement in 30 days subject to gaming machine authority being transferred to new owners within 90 days of settlement The JV parties will facilitate this for the new vendor upon acceptance of the offer.
$4.7 Million with a settlement in 60 days subject to build price and fit out costs being agreed by all contractors.
$4.0 Million with no terms, a cash offer and settlement can occur now. The JV partners collectively feel that the offer is slightly low and would like the buyer to come up to $4.2 Million. This is under negotiation and the contract terms allow for early settlement before the New Year if all JV partners agree on price. The agreement is set between a Wellercorp and Vested Capital. In the event an agreement cannot be reached with price, Vested have the ability to exercise a Power of Sale and move the asset with any party currently on contract to return invested funds.
$3.87 Million cash offer with local building group with a 28 day settlement.. Currently a quote is being compiled for a build cost for further Due Diligence