A recap of the condo buyers who have purchased voting options is available on request. To date, we have had 70 condo buyers join the trust for a grand total of $258,000US in voting options.
As of September 1, 2010, out of the 187 condos originally for sale, 25 remained to be sold by the trust with approximately another 20 condos by individuals who bought groups of condos and which are still up for sale. So when the doing the math or percentages, it looks like 37% of condo buyers bought voting options, but in reality, by eliminating the unsold condos, approximately 62% of condo buyers bought voting options and joined the trust. A good response to date. I am still working with condo buyers who have not joined the trust and hope to have another couple of buyers joined before going back home to Canada. I have also had meetings with a couple of the condo buyers who are past due in their payments, and funds are forthcoming.
I am still working on the financial update (and have been working on this with both of the lawyers and contractors) and plan to have this out very soon. Things are going well here in Costa Rica however everything seems to take much longer to do and or accomplish as compared to back home (very frustrating at times). I have been in several meetings regarding the infrastructure, structuring of the phases, completion of the condos and will share this info in my next e-mail - update. Its been a very rainy week here in Costa Rica so a good time for all these meetings.
We are looking at ways to cut back on some of the more expensive items yet to be done, and with the economy being the way it is and so many locals looking for work, we are definitely getting better pricing on materials and trades people.
That's it for now ... thanks for your patience (will definitely be worth it). Let me know if you have any questions,