V S - FRONTIER CENTRE I

The reduction in revenue from the of the elimination of the federal land lease rental proposed airline fee cut overwhelmed the savings expense, and the use of one half of the savings of from cutting projected capital expenditure. [...] This Scenario One for the intrinsic value yields (net plausible range of a median (midpoint of the array of the amount of proceeds used to extinguish one of projected values) of $84.7M to a mean (simple quarter of the firm’s long-term debt) a minimum average) of $104.5M. [...] This Alternative Scenario One for the market of a median (midpoint of the array of projected value method yields a minimum of $85.1M to a values) of $255M to a mean (simple average) of maximum of $1.508B, with a more plausible range $402.3M. [...] This Alternative Scenario Two yields (net of the range of a median (midpoint of the array of amount of proceeds used to extinguish one half of projected values) of $230.3M to a mean (simple the firm’s long-term debt) a minimum of $131.6M average) of $284M. [...] For used to extinguish one half of the firm’s long-term easier comparison, the three cases are presented debt) a minimum of $109.6M to a maximum of together in the following table: $1,552M, with a more plausible range of a median Table 11 Comparison of Different Scenarios Applied to Intrinsic Value and Market Value of the Company in 2020 Intrinsic Value (Average of Mean & Median) Market Value (Ave.