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TPWR...coming off 52 week low?
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[QUOTE]Originally posted by bb money: [QB] Stocktrader take a look at this. Below I have posted a past pr. It says TPWR sold 10% ownership in American racing. Correct me if I am wrong but I believe that the financials for November will look real good because of this. Here is my reasoning first the 1 million being used to pay off debt will lower our liabilities. Also I am not an accountant but, I believe that the money they are making now off of Tioga and Vernon and the preferred dividend mentioned in the pr will be going into retained earnings which in turn will raise stockholder equity. Also some of the money is going to be used to invest in other projects which would mean the raising of our assets. I bring this up only to point out that when the financials do come out we should be looking for a significant raise in PPS just from the financials even if we get news. This is just my take on things let me know what you think. TORONTO, ONTARIO--(MARKET WIRE)--Oct 27, 2006 -- TrackPower, Inc. (OTC BB:TPWR.OB - News) today announced that is has concluded the sale of 10% of the ownership of American Racing and Entertainment, LLC. to Southern Tier Acquisition II LLC., and Oneida Entertainment Holdings Inc. for $2.3M US in cash. ADVERTISEMENT After the sale, TrackPower's ownership is 10% of American Racing and Entertainment, LLC. TrackPower also receives a monthly management fee and a preferred dividend of $2.5M out of the first $5M in profits. One million dollars of the proceeds of the sale was used to pay off the senior debt in TrackPower, Inc. to Mellilo Investments. [/QB][/QUOTE]
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