Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: Mr. Pink who wrote (73765)	9/26/2001 5:46:32 PM
From: tradermike_1999	Read Replies (1) of 122087

SRPI Today we are putting the Spotlight on Sports Resorts International, formerly known as The Colonel's International and placing a sell and short recommendation on it. The company is a small mom and pop operation. Over 97% of the shares are owned by Donald and Patsy Williams. Institutions own 1% of the float. The company is made up of two subdivisions: Its main business is the THE COLONEL'S TRUCK ACCESSORIES, INC, which manufactures and sells pickup truck bedliners and tailgate covers through a distributor network. Truck bedliners are plastic inserts that are placed in the rear beds of pickup trucks to protect the paint and structural integrity of the bed. CTA manufactures approximately 90 different bedliners. About 85% of its revenue comes from this business. Its second business is THE COLONEL'S BRAINERD INTERNATIONAL RACEWAY. This is a dirt race track located approximately six miles northwest of Brainerd, Minnesota which schedules events from May to September of each year. The events are hot rod drag races sanctioned by National Hot Rod Association. On March 8, 20001 the company changed its name to Sports Resorts International and its ticker from COLO to SPRI in a clever campaign to attract investors and make the stock go up. It then announced that it was planning on building a $200 million dollar sports development, which will include a large racetrack, a coliseum, a domed stadium, and several hotels. The company has $1.7 million dollars in cash. Other than zoning some property that the company claims it will build the sports complex on it has taken no other steps to plan or construct these facilities. It has commissioned an architect to draw up the plans. The stock more than doubled after the company announced that it was planning on building this sports complex and has a market cap of over $400 million dollars. In the first 6 months of this year it had revenues of only $7.6 million and lost $318k. It does not look very likely to me that the company will ever construct this $200 million dollar facility. Nor does it look like they will get the financing to even begin to construct it. This smells of game to try to make the stock go up. Either way this stock is ridiculously overvalued. The husband and wife duo, that own 97% of the shares, filed on August the 9th to sell over 66 million shares. The company has a float of 24 million shares. If they sell all of these shares they will have sold every single share that they own in the company. You can read the S-3 filing they made to sell their shares(the stock split after the filing) and the prospectus for the company at edgar-online.com 8 I have shorted…. This is a low volume stock and I have placed a wide stop on it. I believe it will fall at least 50% from these levels and more if the Williams begin to sell.

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