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Dear SPHC Directors:
Stanley Friedland reported at our last annual meeting
that space in Storage ROOMS cost shareholders between
$25 and $32.50 per month. I therefore used an average
of $28.75 per month times 12 months to calculate expected
revenue from Storage ROOMS to be in the neighborhood
of $110,400.
Our annual report showed storage revenue to be only
$85,341, and $37,200 of this evidently comes from
Storage BINS (124 bins at $25 per month times 12 months).
That leaves us with a shortfall in reported storage
income of $73,200. I do recognize that my numbers
are not exact. At the same time, the magnitude of
this difference warrants concern. With this message,
I hereby request a clear documentation of how many
storage rooms exist, how they are shared, how much
they cost, and status of the corresponding waiting
list.
Thank you for your attention to this matter.
Sincerely,
Dan Strum
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