(Editors' note: Trading of GNLAF is highly illiquid. Investors would be advised to consider the listing on the Toronto Stock Exchange under GDC.TO)
Genesis Land Development [(OTC:GNLAF)(GDC.TO)] ("GDC" or "the company") is a small, chronically undervalued $150 million market capitalization real estate developer and owner of an extensive land bank in Canada. The company trades only lightly on the TSX, but has picked up some interesting catalysts.
The company has a colorful history, including impolite allegations of its former CEO and Founder Gobi Singh and other members of the previous management for failing to adequately disclose certain non arm's-length transactions in 2008. GDC's Board of Director's ("BoD") cleaned house in 2011 by accepting Mr. Singh's resignation and installing...
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