I've looked a bit into this SPRI.
An old 10-K outlines how it was created (though a reverse merger with "Brainerd" (BIRI):
sec.gov
Perhaps driven by these news:
biz.yahoo.com
The Colonel's International, Inc. Proposes Sports and Entertainment Complex
OWOSSO, Mich., March 5 /PRNewswire/ -- The Colonel's International, Inc. (Nasdaq: COLO - news; The Colonel's) is in the development stages of a 340 acre Sports and Entertainment Complex (The Complex). The Complex is located along 5280 feet of frontage on I-75 North and 4200 feet on Mt. Morris Road with easy access to and from I-75 at the Mt. Morris Road exit. Approximately 76,000 vehicles pass by The Complex daily as The Complex is located within one and one-half hour's drive of 95 percent of the population living in Michigan, Toledo, Ohio, Sarnia, and Windsor, Canada. The Complex consists of a 30,000 seat Coliseum and 20,000 square foot 11,000 seat Domed Stadium, 117 room Sport Theme Hotel, Gas Station, Convenience and Souvenir Store with 130 acres of parking.
Construction will be done in two phases, which will be completed in a 12-24 month time frame. The property is commercially zoned and awaiting site approval. Ground breaking is scheduled in 30-45 days. Financing will be done through a secondary offering. [Ah!]
Phase 1 will be the construction of the Coliseum and Domed Stadium, which will host events such as Arena Football, Basketball, Hockey, Concerts, Tractor Pulls and Monster Truck Shows.
Phase 2 is the construction of the 117-room Sports Theme Hotel and the combined Gas Station, Convenience and Souvenir Store and Theme Restaurant.
Current members of the Board of Directors of The Colonel's include Maureen C. Cronin, daughter of former baseball Commissioner Joe Cronin, and Eric Hipple, former quarterback for the Detroit Lions football team and football analyst with the Fox Television affiliate in the Detroit area. The Colonel's would add additional board members, which may include seven nationally known sports figures.
The Colonel's through its subsidiaries is engaged in the manufacture and sale of bedliners and aftermarket truck accessories and ownership and operation of a multi-purpose Motorsport facility (The Colonel's Brainerd International Raceway) located near Brainerd, Minnesota.
Certain statements included in this press release are ``forward-looking'' statements. Such forward-looking statements involve uncertainties that could significantly affect the performance or financial results of The Colonel's in the future. The effect on The Colonel's of such forward-looking statements may be impacted by financial, economic, regulatory, and political conditions or additional factors unknown to The Colonel's at this time. Therefore, current or prospective investors are cautioned not to place undue reliance on any such forward-looking statements. The Colonel's does not undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events, or otherwise.
shortly after, the ticker changed to spri,...the stock tanked to 3 and rose therafter.
Low float, yes. but can not be worth very much. |
