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Microcap & Penny Stocks : MPTVE - Turnaround With Huge Potential
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To: susan mc who wrote (5463)1/13/2000 9:32:00 PM
From: RSH  Read Replies (2) of 5783
 
To All: RE: Some disturbing MPTV information.

I'll admit that I must take responsibility for some past positive speculative posts regarding MPTV's future. I was led to believe that MPTV had a viable opportunity to receive financing and to retain a contractor for this project.

Since I live in Las Vegas I have visited the Lake Tropicana property many times. In the last few days I've received some very uncomfortable information.

I'M ONLY ACTING AS A MESSENGER REGARDING THIS INFORMATION. YOU MUST MAKE YOUR OWN DECISION REGARDING YOUR MPTV STOCK POSITION.

1) Fact: Many potential contractors have visited the Lake Tropicana property in an effort to retain a contract for construction.

2) Fact: MPTV has received some "preliminary" bids for construction.

3) Fact: "Hard bids" for construction cannot be accepted until "working drawings" are completed by an architect.

4) Fact: "Working drawings" will take a minimum of 4-6 months to complete at a price of ~5% of the project. (This project may take ~$75 million which means the "working drawings" will cost ~$3.75 million.

5) Fact: Ground cannot be broken for construction until financing and "working drawings" are completed and approved.

6) Fact: MPTV has a $6.5 million loan on the property. At an APR of 10-15%, MPTV must pay ~$650,000-975,000 annually (or ~$54,000-81,000/month). If MPTV is not able to make these payments, they will lose the property and go out of business.

9) Fact: The only way MPTV will receive financing is if a general contractor advances the money for working drawings and construction. THEN, the only way the contractor will get paid back is IF sales people are able to SELL time-share units on a 4-5 year build out. (meaning the contractors will receive their profits on a month to month, and year to year basis depending on whether or not anybody buys into this time-share concept). Would you take that kind of a financial risk with ~$75 million if you were a contractor? (Something else to consider. If a contractor is willing to take that huge of a risk, how much will MPTV deserve of the profits??? MPTV would probably get a very small portion of the revenues since they are not committing any of their own money).

10) Fact: MPTV does not have financing in place at this time.

11) Fact: MPTV has not retained a general contractor at this time.

12) Fact: MPTV cannot complete this project on their own. They need immediate financial assistance or their business will cease.

13) Fact: MPTV has 950 million authorized shares with nearly all of those currently outstanding. Hence, MPTV is unable to sell shares anymore to raise working capital.

14) Fact: MPTV has been trying to receive financing for the Lake Tropicana property for many years. One would think they would have exhausted all opportunities by now. The fact is that absolutely NO typical lenders will accept the risk of such a project.

15) Fact: After receiving this information, I exited my position in MPTV (BEFORE today's spike in price). I don't regret missing the spike in price today because I feel fortunate to have escaped MPTV with only a 10% loss (short term) instead of a 100% loss (long term).

I hope many of you loyal long term holders have recouped your losses in this last price spike.

Again, I am only acting as a messenger regarding the latest information with which I've recently been enlightened.

If anyone chooses to gamble in this stock (as many of us longs and ex-longs have) only invest what you can afford to lose.

Best of luck in all of your investing and gambling.

RSH

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