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Microcap & Penny Stocks : ETPI-Military Entertainment Enters Civilian Market -- Ignore unavailable to you. Want to Upgrade?

To: Toby Zidle who wrote (4435)	6/7/1999 3:09:00 PM
From: Mike MacNaughton	Read Replies (1) \| Respond to of 4767

>> If someone drowns at Waterpark, (1) what kind of insurance does ETPI carry?, (2) will litigation costs above the insurance limits bankrupt ETPI? What has ETPI told us about its insurance coverage? I am not aware of the specific insurance ETPI is/should be carrying but there are several specific companies that specialize in this type of coverage. The typical policy covering accidents and accidental death for a family entertainment center costs about $1,200.00 per month and is sufficient to protect the center from bankruptcy. Water park coverage is probably higher in cost due to higher exposure to risk but still ought to be in the $24,000.00 per year range.

To: Toby Zidle who wrote (4435)	6/7/1999 3:43:00 PM
From: Mike MacNaughton	Respond to of 4767

>> Kelly, I think I'll stick with my initial guesstimate of $2 max profit per paying passenger. My company was involved in negotiations to purchase a waterpark in Arkansas last year. The park was an annual money loser (barely) in demographics that are similar to Midland. The real "deal" in our negotiations was the current and potential future value of the land and not the continued operation of the waterpark. A "turn-around" proved too costly in our estimates to be worth the effort...our capital company agreed. The land value proved to be the final purchase price and the water-park operations played no significant role in valuation. The Texas realestate code begins, "Under all is the land...". This company needs assets to move to NASDAQ. Maybe the ETPI purchase is a good one because of the intrinsic value of the dirt. Anybody know?