".......................Rrrrrrruhhhhh Rrrrrrroooooohhhh.................."!!!
Golf Entertainment Evicted from Headquarters
By Jeffrey Wood Daily News - 8/22/02 4:01:41 PM
Golf Entertainment Inc., the Springdale penny stock that’s under investigation for an apparent conspiracy to defraud shareholders, was served on Thursday with a notice of eviction from its headquarters at 1008 Clayton St.
John Dodge, Golf’s general counsel, could not be reached for comment. Other executives at the company have referred all questions to him.
According to public records filed in Washington County, the 5,378-SF facility is owned by Cypress Investments LLC. The eviction notice cited “failure to pay rent” since July 1 as the reason for eviction and a past due amount of $3,300 plus $40 in late fees.
The delinquent amount of $3,340 is 11 percent more than the company’s first quarter net income of $2,984. It also represents 9 percent of the firm’s entire first quarter revenue of $35,375.
By Thursday afternoon, Lindsey & Associates had already placed a "for lease" sign in front of the building.
Golf, traded over-the-counter as GECC.OB., has five days to vacate the premises.
The eviction papers add to a mounting list of evidence that Golf’s finances are not as sound as the company has claimed through news releases. (See previous reports.)
Thomas and Robin Lundstrum of Springdale are the principals in Cypress Investments. They declined comment, but the Lundstrums apparently have no other connections to Golf.
arkansasbusiness.com
. |
