COTA Austin - construction and infrastructure

[FW17]

Well, it is as per their submission to the Securities and Exchange Commission.

[Richard]

I've had to delete or edit a few posts with personal comments.

No more about Combs or METF please unless there is a significant new development in the story.

[WhiteBlue]

Well, it is as per their submission to the Securities and Exchange Commission.

Is there an URL for the submission?

[thearmofbarlow]

Then they declare the individual in breach of contract and write a new one with someone who maybe does have a track.

I don't know how this Schwantz guy is involved, but it sounds like he's attached to Helmund and possibly has some money in the deal or at least has a dream of riches that will be dashed if Tavo isn't able to sell out to CotA.

So, he writes this mildly threatening letter and leaks it to the press. We've seen a lot of that from Tavo's side of all this, haven't we? Leaked letters, sob-story law suits, puppy faced press conferences. At least it's entertaining.

Kevin Schwantz is a former 500 GP World Champion. That was the direct precursor to modern MotoGP.

[hairy_scotsman]

Here you go: 41 fresh photos from just this afternoon:

https://www.facebook.com/media/set/?set ... 878&type=1


Samples:

[strad]

Hairy in the first photo...Is that the aforementioned horse path? If so it doesn't look any worse than many. I guess the real question is how easy is access up til the horse trail or whatever xpensive calls it.

[hairy_scotsman]

Hairy in the first photo...Is that the aforementioned horse path? If so it doesn't look any worse than many. I guess the real question is how easy is access up til the horse trail or whatever xpensive calls it.

You're talking about the road, right? That's FM 812. I shot that from just west of its intersection with SH130. It also connects further west with US Hwy 183.

It's not bad, and there will be a couple other ways into the site. This will be the main one though. It looks like, at least for this year, it will be re-striped from 2 lanes to 4, with 3 inbound prior to the race and 3 outbound after.

[xpensive]

Doh...Not good.

Elroy Road widening won't happen before 2012 race. The hangup? Take a wild guess.

http://www.statesman.com/sports/formula ... 91924.html

Horse trail strad, which horse trail, you mean this horse trail?

[FW17]

Well, it is as per their submission to the Securities and Exchange Commission.

Is there an URL for the submission?

Thought you read everything

http://www.statesman.com/blogs/content/ ... n_add.html

http://www.statesman.com/blogs/content/ ... almos.html

[raymondu999]

I think WhiteBlue meant a link to the actual SEC filing

[FW17]

I think WhiteBlue meant a link to the actual SEC filing

it is in it, ray. posted the link so that people know what it is.

[WhiteBlue]

To be precise there is no proof that the equity is beyond the $20m that were announced on 22nd February 2011. The new document about equity - which is an amendment referred to the same date - shows additional securities of $74m.

Additional types of securities mentioned are:

1: Option, Warrant or Other Right to Acquire Another Security
2. Security to be Acquired Upon Exercise of Option, Warrant or Other Right to Acquire Security

I'm not informed of the filing rules but AFAIK one can assume that the additional capital raised is not additional equity but options and other securities to be acquired in the future upon exercise of options. The nature of those options is not clear but it could perhaps be windfall profits from land re valuation or other non equity assets.

One thing is for sure. The minimum equity is $20m and it cannot be $94m. The likely equity is still $20m, the rest being the options and future acquisitions. We cannot even exclude that the future acquisitions of securities include another tax based refunding scheme.

Based on the equity and other securities they had raised a total of $90m of working capital from 17 lenders (banks) by January 31st 2012.

So in the worst case the equity could be all real estate, the options and future acquisitions non cash so that the documented working capital is just $90m in cash. Of this we can assume that Bernie made them sign over $28-35m for the first race fee. It would leave just $55m for finished and future construction work. It sounds a bit scary for the prospect of the race.

I would like to know more about this. So if more documents become available or someone has more information about the options and future acquisitions it would be very kind if it was posted here.

[FW17]

TH in his petition talks about $130 million

I suspect this was the actual budget for the constuction of the the track and facilities(or majority of the track and facilities). $300 million is the figure/value of property post completion speculated.

The contact states that this amount is what is required for the signing over of the F1 deal. TH says this amount was available only in Sept-Oct 2011. So there is more money than $90 + $30 million. Could be $ 190 million.

Tevo says that track now costs more, soil codition and pipe line relocation. Could $190 million be the new constrcution budget?

Korea was constructed at $ 77 million on a swamp, India was constructed at around $90 million, Monteblanco circuit completed last year in Spain costed about a $ 120 million

[rahulsampath]

TH in his petition talks about $130 million

I suspect this was the actual budget for the constuction of the the track and facilities(or majority of the track and facilities). $300 million is the figure/value of property post completion speculated.

The contact states that this amount is what is required for the signing over of the F1 deal. TH says this amount was available only in Sept-Oct 2011. So there is more money than $90 + $30 million. Could be $ 190 million.

Tevo says that track now costs more, soil codition and pipe line relocation. Could $190 million be the new constrcution budget?

Korea was constructed at $ 77 million on a swamp, India was constructed at around $90 million, Monteblanco circuit completed last year in Spain costed about a $ 120 million

Indian grand prix track was constructed for $200 million and if they add the property cost and all the fees it was around $400 million

[FW17]

TH in his petition talks about $130 million

I suspect this was the actual budget for the constuction of the the track and facilities(or majority of the track and facilities). $300 million is the figure/value of property post completion speculated.

The contact states that this amount is what is required for the signing over of the F1 deal. TH says this amount was available only in Sept-Oct 2011. So there is more money than $90 + $30 million. Could be $ 190 million.

Tevo says that track now costs more, soil codition and pipe line relocation. Could $190 million be the new constrcution budget?

Korea was constructed at $ 77 million on a swamp, India was constructed at around $90 million, Monteblanco circuit completed last year in Spain costed about a $ 120 million

Indian grand prix track was constructed for $200 million and if they add the property cost and all the fees it was around $400 million

Must have mis read it as 400 crores