Exclusive Cruises and Resorts (XCLU) Message Board

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Microcap & Penny Stocks : Exclusive Cruises and Resorts (XCLU)

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To: jhild who wrote (603)	8/1/1999 9:39:00 PM
From: Dr. Microcap	Read Replies (2) of 644

The Hotel is currently owned by a S corporation controlled by George and a very LARGE Partner. XCLU cannot own any part of an S corp. due to tax reasons. Otherwise this transaction would have closed months ago. This is the reason for the new LLC. Simultanius with the new loan the Hotel will be transfered to the new LLC which XCLU will own 51% of and the very Large Partner will own the other 49% of the LLC. I believe that XCLU also has an option to purchase the remaining 49% from the very Large Parnter as well. <eom>

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