2007 annual report aveiro investment corp. - First West Properties

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CHAIRMAN’S LETTER Later in this annual report, you will fi nd a discussion of our fi rst-year milestones and management’s discussion and analysis of Aveiro’s fi nancial statements. Together, these will provide you with an in-depth understanding of Aveiro’s business and the real estate we now own. Our approach is to be candid in our reporting to you: we want you to know all the material facts that we would want to know if our positions were reversed. We owe you no less. Finally, I would like to thank Harold for his superb execution of the role of president which he held from August 2006 until September of this year when Eric Wesling was appointed. One of Harold’s objectives when he took on the role was to work himself out of the position by building the company in a manner that allowed us to attract a real estate professional with deep subject matter expertise and experience in a high growth real estate investment company. I think that we have done that with Eric. 4 | Aveiro Investment Corp. | 2007 Annual Report I hope that you fi nd our annual report informative and useful. We are pleased to welcome all of you as fellow shareholders of Aveiro, we thank you for trusting us with your capital, and we look forward to an exciting and prosperous future together. John Mackay CHAIRMAN OF THE BOARD
ASSETS SASKATOON TOTAL OF APPROXIMATELY 21,000 SQUARE FEET ON 2.45 ACRES OF LAND, SASKATOON, SASKATCHEWAN
Page 1 and 2: AVEIRO INVESTMENT CORP. 2007 ANNUAL
Page 3: CHAIRMAN’S LETTER DEAR FELLOW SHA
Page 7 and 8: ASSETS AIRDRIE 77 ACRES OF UNDEVELO
Page 9 and 10: Harold Kunik, Chief Financial Offic
Page 11 and 12: JULY 2007 Private Placement In July
Page 13 and 14: WHY SASKATCHEWAN? Once solely an ag
Page 15 and 16: OVERVIEW About Aveiro Aveiro is an
Page 17 and 18: OVERALL PERFORMANCE Financial Posit
Page 19 and 20: The Warehouse Mortgage is a fi rst
Page 21 and 22: a company with common management. I
Page 23 and 24: During the 2008 fi scal year, the C
Page 25 and 26: properties. The ability of Aveiro t
Page 27 and 28: OUTSTANDING SHARE DATA Common Share
Page 29 and 30: The rates are determined based on m
Page 31 and 32: AUDITOR’S REPORT To the sharehold
Page 33 and 34: STATEMENTS OF LOSS AND DEFICIT Year
Page 35 and 36: NOTES TO THE FINANCIAL STATEMENTS J
Page 47 and 48: AUDITORS Grant Thornton LLP 1000, 1

2007 annual report aveiro investment corp. - First West Properties

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