According to an 8-K filed today. EWEB RE is plunking down a cool $2.6 million (more than the total amount of the stock buyback) and potentially as much as $10 million into a construction loan for mixed use (condos + commercial) property in downtown Las Vegas.
By the way, a USC economist just described the Las Vegas real estate market as one of the "most vulnerable" in the United States. This is not encouraging -- I still intend to sell my shares.
EWEB 1-yr chart:
DISCLOSURE: I am long EWEB. Not a recommendation to buy or sell any security.