CSE » Topics » We have limited experience operating as a REIT.

These excerpts taken from the CSE 10-K filed Feb 29, 2008.
We have limited experience operating as a REIT.
 
On January 1, 2006, we began operating as a REIT and formally elected REIT status when we filed our tax return for the year ended December 31, 2006. Our senior management has limited experience in managing a portfolio of assets under the highly complex tax rules governing REITs, which may hinder our ability to achieve our investment objectives. In addition, maintaining our REIT qualification will influence the types of investments we are able to make. We cannot assure you that we will be able to continue to operate our business successfully within the REIT structure or in a manner that enables us consistently to pay dividends to our shareholders. In addition, our decision to convert to REIT status has imposed added challenges on our senior management and other employees, who together monitor our REIT compliance obligations, develop new product offerings consistent with our REIT status and make appropriate alterations to our loan origination, marketing and monitoring efforts.
 
We
have limited experience operating as a REIT.



 



On January 1, 2006, we began operating as a REIT and
formally elected REIT status when we filed our tax return for
the year ended December 31, 2006. Our senior management has
limited experience in managing a portfolio of assets under the
highly complex tax rules governing REITs, which may hinder our
ability to achieve our investment objectives. In addition,
maintaining our REIT qualification will influence the types of
investments we are able to make. We cannot assure you that we
will be able to continue to operate our business successfully
within the REIT structure or in a manner that enables us
consistently to pay dividends to our shareholders. In addition,
our decision to convert to REIT status has imposed added
challenges on our senior management and other employees, who
together monitor our REIT compliance obligations, develop new
product offerings consistent with our REIT status and make
appropriate alterations to our loan origination, marketing and
monitoring efforts.


 




This excerpt taken from the CSE 10-K filed Mar 1, 2007.
We have limited experience operating as a REIT.
 
From our commencement of operations in September 2000 through December 31, 2006, we were organized first as a limited liability company and then as a C-corporation. On January 1, 2006, we began operating as a REIT and expect to formally make an election to REIT status for 2006 when we file our tax return for the year ended December 31, 2006. Our senior management has limited experience in managing a portfolio of assets under the highly complex tax rules governing REITs, which may hinder our ability to achieve our investment objectives. In addition, maintaining our REIT qualification will influence the types of investments we are able to make. We cannot assure you that we will be able to continue to operate our business successfully within the REIT structure or in a manner that enables us consistently to pay dividends to our shareholders.
 
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