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wow broke $11 AH
$CONGRATS
Hope so. iSPO float is low. I have the warrants at avg of $1.07....ISPO continues to rise Over the coming days, easy double on them. All is my hope lol.
Yesterday was a fade away from the bump. Today is a good sign this will keep moving.
Too hard to say. Not sure what to believe any more. I hold warrants so hoping this squeezes again and my warrants double lol! It can happen quick. We shall see
Has this been getting shorted the last month or so, covering started?
Yup, sold those warrants some time ago.
and now ISPO is @ 15.46...gonna fill the gap???
I want to thank every numb nuts and their brother for selling the warrants to me for $1.15 and $1.35.
Well, that too, but if you were around in the 90's you will see why this is running, when EXPEDIA debut, it ran from 40 to 500 in one day.
I wonder how many here shorted this today and blew up?
$ISPO: Get over to $STJO right awawy....... HUGE RM
Just dropped.
Super low floater here
GO $ISPO
What is going on with this stock. Why is it up 700%.
Enquiring minds want to know?
Won’t be for long. $11.50 conversion price, ISPOW is worth ISPO minus that fee.
$ISPO: Just tapped $95 !!!!!!!!!!!!!!!!!
HOLYYYYYYYYYYYYYYYYYYYYYYYYYYYY CRAPPPPPPPPPPPPPPPPPPPPPPPPPPP
GO $ISPO
ISPOW ISPOW why so cheep ?? TY
$ISPO: WOOOOOOOOOOoooooooooooooooooooooo WHATTA DAY !!!!!!!!!!!
$12 yesterday................... just tapped $60 !
Guess who's next........... $TMNA :)
GO $ISPO
Idea Sports Entertainment Unveils Sneak-Peak of "Vegas Roll'em" $1,000,000 Jackpot Fantasy Football Format at www.vegasrollem.com
William C. "Billy" Morris has resigned
Anyone know why this happened, or for that matter where are we headed?
The lack of news from this company is deafening.
Not sure about $1. But, I do see new 52 wk highs in the future. Volume is kicking, bid is thin, though. Need some new MM buyers on board. Chart looks ultra strong. Plenty more to come, imo. But watch that L2. Only thing I'm hesitant about.
Finally this company get's back on message. Top Driver Series news was catalyst for last big stock price run. Two things and two things only will make this stock price go kaboom!!! up to $1.00. First, News that a network has bought rights to broadcast top driver series this fall. Second, releasing the name of the celebrity driver. That's the news that gets penetration past the day traders, assuming he's a big name driver with a large following.
Wow, is this great news or what? I can't wait to see how this turns out!
Good Luck to all!
News for 'ISPO' - (Idea Sports Entertainment Group, Inc. Taps Hollywood Veteran Tri-Crown Productions to Head up Production on America's Top Driver Racing Series; ``Action-Sports'' Production Company to Produce $1,000,000 Racing Series)
LAKE CITY, S.C., Apr 28, 2005 (BUSINESS WIRE) -- Idea Sports Entertainment Group, Inc. (OTCBB: ISPO) ("Idea") announced today that it has reached an agreement with Burbank, CA-based Tri-Crown Productions to produce its upcoming made-for-television racing series, America's Top Driver(TM).
Under the agreement, Tri-Crown will utilize their expertise in "high-action sports" film and video production to create "on-track" racing action and drama, as Idea begins its search for America's Top Driver(TM). The company has already submitted preliminary production budgets to Idea, and is currently in the final stage of the selection process for race track filming locations."
William C. Morris, Idea Sports Entertainment Group's Chairman/CEO stated.
"We
are really excited about starting to put together the America's Top Driver Team.
This Tri-Crown announcement will be the first in a series as we introduce our partners for this exciting new racing series. Future announcements will outline the partnership's alliance of noted companies and racing celebrities".
America's Top Driver spokesman for the company is the legendary 3-time NASCAR Winston Cup Champion, Cale Yarborough. In a statement released by the company, Cale commented, "From what I've seen of their work, they're a perfect fit for what we have in mind for America's Top Driver(TM) . . . . non-stop action."
Tri-Crown CEO Carol Sherman added, "This product is taylor-made for our company, but what closed the deal for us, was the array of talented motorsports individuals that are lining-up to be part of this racing series. I think a lot of people will be surprised when the final America's Top Driver(TM) format is introduced to the television market."
About Tri-Crown Productions
Launched January 1, 1987, Tri-Crown Productions is one of Hollywood's most prolific producers of reality-style television programming - over 4-thousand on-air episodes in their 18 year history -- "Tri-Crown is like Real Estate, we're all about Location, Location, Location" stated President of Production Jeff Androsky, while shooting for Tri-Crown on location in Havana, Cuba -- "We've produced magic shows for ABC in Monte Carlo, Stunt shows for FOX in Ireland, crop circles in New Zealand for NBC, flew across America with the Super Models from Victoria's Secret, now we're rolling into NASCAR country with America's Top Driver, it just doesn't get any better than this."
Tri-Crown is known for setting new trends in production, highlighted by a groundbreaking series of live, prime time, daredevil motorcycle jumps for FOX, featuring Robbie Knievel, "The other networks were afraid, they said it was too dangerous, it couldn't work, no one wanted to air a LIVE stunt show, where someone could get hurt, it was really a matter of life or death. But we created a series that really focused on the drama, the conflict, failures and triumphs - and made it failsafe -- and FOX couldn't resist. The greater the risk, the greater the reward - and we pulled it off episode after episode." Androsky continued, "With Knievel, we were working with the best - and now -- with America's Top Driver we'll working with the best. The best champions of motorsports, best crews and most of all, the best new UNDISCOVERED drivers in the world."
About America's Top Driver(TM)
America's Top Driver(TM) will combine the excitement of motorsports, with a unique made-for-television entertainment platform as it searches for the next race car driver to get a shot at the big time, and a chance at a $1,000,000.00
($1 million) grand prize, and a professional racing contract. Joined by current and former motorsports greats such as 3-time NASCAR Winston Cup Champion, Cale Yarborough, America's Top Driver(TM) will hit all demographic groups as it gives talented young men and women the opportunity to prove themselves on the race track, and earn the title "America's Top Driver(TM)".
About Idea Sports Entertainment Group, Inc.
Idea Sports Entertainment Group, Inc. is a sports and entertainment marketing and management company dedicated to developing undervalued sports and entertainment properties and products. Idea Sports Entertainment Group, Inc.
through various partnerships, and wholly owned affiliates, is a creator and developer of entertainment content focusing on sports and general entertainment properties. Its current project base includes motion pictures, television/radio, publishing, sports properties, licensed merchandise, direct-to-retail videos, international entertainment, and travel/hospitality services.
The Idea Group is corporately based in Lake City, South Carolina, with regional offices in Charlotte, NC, New York, NY, and Atlanta, GA. It also plans to establish an office in Los Angeles, CA in the near future. All the activities of the projects and the administrative and accounting functions of the company are managed by Idea Management Group, Inc., which is a wholly owned subsidiary of Idea Sports Entertainment Group, Inc.
Safe Harbor Act Disclaimer: This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although the Company believes that the expectations reflected in the forward-looking statements and the assumptions upon which they are based are reasonable, it can give no assurance that such expectations and assumptions will prove to have been correct. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, the independent authority of the special committee to act on the matters discussed, the successful negotiation of the potential acquisition and disposal of transactions described above, successful implementation of the company's business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. In addition, other factors that could cause actual results to differ materially are discussed in the Company's most recent Form 10-QSB and Form 10-KSB filings with the Securities and Exchange Commission.
SOURCE: Idea Sports Entertainment, Inc.
CONTACT: Idea Sports Entertainment Group, Inc.Camala Osborne,
843-374-4332 cosborne@ideaseg.cominfo@ideaseg.comorInvestor
Relations:investorrelations@ideaseg.com
Copyright Business Wire 2005
Source: Comtext Market News
Just found this posted, so I am thinking this is good news?
Good Luck to all!
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Idea Sports Entertainment Group, Inc.
________________________________________
(Name of Issuer)
Common Stock, par value $0.001 per share
________________________________________
(Title of Class of Securities)
87815W 10 1
________________________________________
(CUSIP Number)
William B. Bradshaw, 1675 Tanglewood Road, Columbia, SC 29204 (803) 254-1662
________________________________________
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
May 15, 2001
________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-l(g), check the following box. •
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent. The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
________________________________________
CUSIP No.: 87815W-10-1
1. Names of Reporting Persons I.R.S. Identification Nos. of above persons (entities only):
William B. Bradshaw
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) •
(b) •
3. SEC Use Only
4. Source of Funds (See Instructions):
PF
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)
•
6. Citizenship or Place of Organization:
USA
Number of
Shares
Beneficially
Owned by
Each
Reporting
Person
With 7. Sole Voting Power:
652,500
________________________________________
8. Shared Voting Power:
0
________________________________________
9. Sole Dispositive Power:
652,500
________________________________________
10. Shared Dispositive Power:
0
11. Aggregate Amount Beneficially Owned by Each Reporting Person:
652,500
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) X1
•
13. Percent of Class Represented by Amount in Row (11):
.8%2
14. Type of Reporting Person (See Instructions):
IN
________________________________________
1 Bradshaw Investments, Inc. owns 500,000 shares of common stock of the issuer according to the issuer’s annual report on Form 10-KSB for the year ended December 31, 2002. Mr. Bradshaw owns 25% of Bradshaw Investments Inc., with his parents and siblings owning the remaining interests in the business. Mr. Bradshaw is a passive investor in such enterprise and has never exercised any voting rights with regard to his 25% interest. To his knowledge as of the date of this filing, Mr. Bradshaw does not have the power to control the voting or disposition of the stock of the issuer owned by Bradshaw Investments, Inc. Consequently, in accordance with Rule 13d-4 under the Securities Exchange Act of 1934, Mr. Bradshaw disclaims beneficial ownership of the stock of the issuer owned by Bradshaw Investments, Inc. Pursuant to Rule 13d-4 promulgated under the Securities Exchange Act of 1934, the filing of this statement shall not be construed as an admission that he is, for purposes of sections 13(d) or (g) of the Securities Exchange Act of 1934, the beneficial owner of any stock of the issuer held by Bradshaw Investments, Inc.
2 Pursuant to Rule 13d-3, the percentage reflects the relationship that the number of shares of common stock of the issuer that the reporting person beneficially owns as of the filing date of this Schedule bears to the 84,632,412 shares of the common stock outstanding on March 2, 2005 (as reported in the issuer’s annual report on Form 10-KSB for the year ended December 31, 2004 and filed with the SEC on April 15, 2005).
________________________________________
Item 1. Security and Issuer
This amendment to Schedule 13D is filed with respect to the common stock, par value $0.001 per share, of Idea Sports Entertainment Group, Inc., a Delaware corporation (the “Issuer”). The principal executive offices of the Issuer are located at 13801 Reese Boulevard West, Suite 150, Huntersville, North Carolina 28078.
Item 2. Identity and Background
(a) William B. Bradshaw is an individual resident of South Carolina.
(b) Mr. Bradshaw’s residential address is 1675 Tanglewood Road, Columbia, South Carolina 29204.
(c) Mr. Bradshaw is self-employed, with his principal business address being the same as his residential address listed in Item 2(B) above and his principal business being an independent distributor of Advocare, a vitamin and weight-loss supplement.
(d) During the last five years, Mr. Bradshaw has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last five years, Mr. Bradshaw has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Mr. Bradshaw is a citizen of the United States of America.
Item 3. Source and Amount of Funds or Other Consideration
On May 15, 2001, the Issuer acquired the assets of Maxx Motor Sports, Inc., as evidenced by the Form 8-K and related Exhibit 10.1 filed by the Issuer with the SEC as of May 29, 2001. In connection with the aforementioned acquisition, the Issuer issued Mr. Bradshaw 3,212,500 shares of common stock of the Issuer in exchange for Mr. Bradshaw’s satisfaction of certain debt owed Mr. Bradshaw by Maxx Motor Sports, Inc. The debt owed Mr. Bradshaw by Maxx Motor Sports, Inc. included a note in favor of Mr. Bradshaw in the principal amount of $364,000 and certain outstanding consulting fees. On October 23, 2003, Mr. Bradshaw attempted to report this acquisition by filing a Schedule 13D, but the filed Schedule 13D failed to detail accurately Mr. Bradshaw’s identity or acquisition. Mr. Bradshaw ceased to be the beneficial owner of more than five percent of the common stock of the Issuer as of November 30, 2004 when he sold 30,000 shares of common stock of the Issuer on the market in a resale transaction pursuant to Rule 144 promulgated under the Securities Exchange Act of 1934.3 Mr. Bradshaw sold those 30,000 shares at an average sale price of approximately $0.10 per share.
Item 4. Purpose of Transaction
The purpose of the acquisition of the securities by Mr. Bradshaw as of May 15, 2001 described in Item 3 of this Schedule 13D was for investment. As of May 15, 2001, October 23, 2003, November 30, 2004, and the date of this filing, Mr. Bradshaw did not, and does not, have any plans to acquire
________________________________________
3 Pursuant to Rule 13d-3, the percentage as of that date was 4.9%, which reflects the relationship that the number of shares of common stock of the issuer that the reporting person beneficially owned as of such date, 3,182,500, bore to the 63,782,412 shares of the common stock outstanding on October 31, 2004 (as reported in the issuer’s quarterly report on Form 10-QSB for the quarter ended September 30, 2004 and filed with the SEC on November 24, 2004.
________________________________________
additional shares, although he may do so from time to time in the future. Other than the acquisition as of May 15, 2001, Mr. Bradshaw did not have as of May 15, 2001, October 23, 2003, and November 30, 2004, and does not presently have, any plans or proposals which relate to or would result in any of the items listed in Item 4(a)-(j) of Schedule 13D.
Item 5. Interest in Securities of the Issuer
As of May 15, 2001, Mr. Bradshaw was the record and beneficial owner of 3,212,500 shares, or 5.19%,4 of the Issuer’s common stock, with respect to which he had sole voting, investment and dispositive power. On November 30, 2004, Mr. Bradshaw sold 30,000 shares of common stock of the Issuer on the market in accordance with Rule 144 at an average sale price of approximately $0.10 per share. Not including the shares discussed in footnote 1 to this Schedule 13D (Amendment No. 1), the beneficial ownership of which Mr. Bradshaw specifically disclaims, Mr. Bradshaw ceased to be the beneficial owner of more than five percent of the common stock of the Issuer as of such date. As of such date, Mr. Bradshaw was the record and beneficial owner of 3,182,500 shares, or 4.99%,5 of the Issuer’s common stock, with respect to which he had sole voting investment and dispositive power.
Mr. Bradshaw has not effected during the past sixty days any transactions in the class of securities reported on in this Schedule 13D. As of the filing date of this Schedule 13D (Amendment No. 1), Mr. Bradshaw is the record and beneficial owner of 652,500 shares, or 0.8%,6 of the Issuer’s common stock, with respect to which he has sole voting investment and dispositive power.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
None
Item 7. Material to Be Filed as Exhibits
(a) Agreement and Plan of Reorganization dated as of May 9, 2001 by and between among others William Bradshaw and the Issuer. (Incorporated by reference to Exhibit 10.1 of Form 8-K filed with the SEC as of May 29, 2001.)
(b) None
________________________________________
4 Pursuant to Rule 13d-3, the percentage reflects the relationship that the number of shares of common stock of the Issuer that the reporting person beneficially owns bears to the 61,931,575 shares of the common stock outstanding on June 30, 2001 (as reported in the issuer’s quarterly report on Form 10-QSB for the quarter ended June 30, 2001 and filed with the SEC on August 20, 2001).
5 Pursuant to Rule 13d-3, the percentage reflects the relationship that the number of shares of common stock of the issuer that the reporting person beneficially owns bears to the 63,782,412 shares of the common stock outstanding on October 31, 2004 (as reported in the issuer’s quarterly report on Form 10-Q for the quarter ended September 30, 2004 and filed with the SEC on November 24, 2004).
6 See supra note 2.
________________________________________
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this amended statement is true, complete and correct.
Date: April 21, 2005
/s/ William B. Bradshaw
________________________________________
William B. Bradshaw
Hopefully they lined up the race cars and have a signed network deal for America's Top Driver racing series with a Fall Network TV Launch.
That was a nice jump today. I was surprised, I wonder what's got this moving?
After the last report, my hopes were fading. They need to start making money and soon or this going down the path they took the last time.
Good Luck everyone!
I guess something very good is coming up. Last week, volume started to increase and today was just great. Hope good news will be released soon. Good luck
I can't believe with everyone involved in this company that they are not going to make it? This report does not paint a very pretty picture.
Form 10KSB for IDEA SPORTS ENTERTAINMENT GROUP, INC.
15-Apr-2005
Annual Report
ITEM 6. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION
The Company, which has been in the development stage for its planned racing operation since its inception, May 15, 2001, did not establish sources of revenue sufficient to fund the development of business and pay operating expenses, resulting in a net loss of $15,054,021 from inception through December 31, 2003. On August 26, 2003, the Board of Directors of the Company unanimously approved a plan to immediately discontinue its racing operation. Since August 26, 2003 and until September 9, 2004, the Company has been attempting to find a suitable acquisition candidate. On September 9, 2004, with the acquisition of IMGI, the Company completed one development stage, which had been included in discontinued operations, and commenced a new development stage operation.
On September 9, 2004, the Company acquired all of the issued and outstanding common stock of IMGI in exchange for warrants to acquire 15,000,000 shares of the Company's common stock at an exercise price of $.10 per share. In addition, in the event IMGI generates $2,000,000 in gross revenue within 36 months of closing, the sellers of IMGI would receive additional warrants to acquire 15,000,000 shares of the Company's common stock at an exercise price of $.10.
On October 15, 2004, the Company acquired two television programs entitled "America's Top Drivers" and "Women's Racing League" in exchange for warrants to acquire 1,750,000 shares of the Company's common stock at an exercise price of $.10 per share. The transaction was valued at $65,458 using the Black-Scholes option pricing model.
On October 27, 2004, the Company acquired all of the issued and outstanding memberships of Gaming in exchange for warrants to acquire 750,000 shares of the Company's common stock at an exercise price of $.10 per share. In addition, in the event Gaming generates $2,000,000 in gross revenue within 36 months of closing, the sellers of Gaming would receive additional warrants to acquire 750,000 shares of the Company's common stock at an exercise price of $.10.
The Company is a concept development company that internally creates projects in the fields of professional sports, motor sports, motion pictures, animated films, publishing, television, radio, licensed merchandise, direct-to-retail videos and international entertainment for distribution into the global marketplace.
Through various exclusive partnerships and wholly-owned subsidiaries, the Company develops unique content through its internal creative team and then partners with individuals and corporations already established in the respective field or industry for which the project was created which increases the viability that the project will be successful and profitable. The Company's business model involves negotiating a revenue share agreement with its individual and corporate partners to minimize the up front development costs associated with each project that has been created which minimizes the risk associated with developing a profitable business unit for the Company.
IMGI commenced operations on September 9, 2004, and has not generated any revenue to date.
GOING CONCERN FACTORS--LIQUIDITY
The Company has not established sources of revenues sufficient to fund the development of business, projected operating expenses and commitments for fiscal year 2005. The Company, which has been in the development stage since its inception, May 15, 2001, has accumulated a net loss of $15,054,021 through December 31, 2003. The Company has ceased its plans to begin a racing league and all operations have been discontinued. This discontinued operation had a loss of $671,289 during the year ended December 31, 2004.
Since August 26, 2003, the Company attempted to locate and negotiate with a business entity for the merger of that target business into the Company. As discussed above, the Company has acquired new development stage businesses commencing on September 9, 2004. Since September 9, 2004, the Company has incurred losses in the amount of $344,616. A group of the note holders have agreed to advance funds on a limited basis to allow the Company to develop a business capable of generating revenues sufficient to fund projected operating expenses and commitments. However, there can be no assurance that the group of note holders will be able to continue to provide sufficient funding to develop the Company's current business plan.
In addition, current liabilities of the Company exceed its assets by approximately $4,200,000, and its convertible promissory notes payable obligations are in default. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The consolidated financial statements do not include any adjustments that may result from the outcome of these uncertainties.
DISCONTINUED OPERATIONS
The Company, which has been in the development stage since its inception, May 15, 2001, did not establish sources of revenue sufficient to fund the development of business and pay operating expenses, resulting in a net loss of $15,054,021 from inception through December 31, 2003. As a result of the continuing losses, on August 26, 2003, the Board of Directors of the Company unanimously approved a plan to immediately discontinue its racing operation. This discontinued operation had a loss of $671,289 during the year ended December 31, 2004. While the Company does not expect any additional liability, the following agreements were in place when the Company discontinued its racing operation:
RACING CAR DESIGN AND CONSTRUCTION AGREEMENT
On October 22, 2001, TRAC entered into a Racing Car Design and Construction Agreement with Riley & Scott Race Car Engineering ("Riley & Scott"). The agreement required payments aggregating approximately $12,500,000 to include design, tooling, prototype construction and aero tooling and production of 100 racing cars, plus the cost of engines. The agreement was modified to extend the payment schedule due to delaying the first racing season and eventually terminated. At December 31, 2003, the Company had paid $4,060,781 on the agreement.
The agreement terms included that upon temporary cessation or early termination of the agreement, Riley & Scott shall have all rights and title to all tangible and intangible inventory then in its possession. When the agreement was terminated in August 2003, Riley & Scott had possession of all inventory. Management does not believe the Company has any remaining liability to Riley & Scott.
TEAM SALES BROKERAGE AGREEMENT
In June 2002, TRAC engaged Moag & Company to be the exclusive broker of all team sales for a one-year term, and in June 2003, TRAC and Moag & Company amended and restated their agreement to extend the term of the agreement through April 16, 2004. Management is of the opinion that this agreement was terminated without future liability when racing operations were discontinued.
BROADCASTING AGREEMENT
In April 2003, the Company entered into an agreement with ESPN, Inc. and ESPN
Productions, Inc. (together, "ESPN"), pursuant to which ESPN was to provide for
the live broadcasting of at least 13 two-hour League events and produce these
television events for the 2004 and 2005 racing seasons (the "ESPN Agreement").
Under the contract, the Company would have been required to make the following
minimum payments:
2003 $ 375,000
2004 10,285,000
2005 10,640,000
----------------
Total minimum contract payments $ 21,300,000
================
Management is of the opinion that this agreement was terminated without future liability to the Company when racing operations were discontinued.
LETTER OF CREDIT FOR OFFICE LEASE
A letter of credit was purchased to guarantee the Company's performance of payment to a third party on their vacated office lease. Restricted cash in the amount of $100,000 was collateral on the letter of credit. The Company applied the restricted cash to pay an accrued lease settlement obligation in 2004.
LOCAL OPERATOR AGREEMENT WITH FORMER CHIEF EXECUTIVE OFFICER
On August 25, 2001, the Company entered into an agreement in principle with its former Chief Executive Officer under which the former Chief Executive Officer would become the local operator of a market. The agreement stated that the cost would be $100,000 plus the cost of the nine racing cars and three haulers to obtain the operating rights for the team, which was substantially less than amounts anticipated to be paid by other local operators. Under the agreement, the $100,000 was to be kept in an escrow account. The funds are not currently escrowed and the $100,000 is included in amounts payable to related parties on the consolidated balance sheet. Under the Miller litigation settlement agreement, described in Item 3, the former CEO would retain the rights as the local operator of a market and waive any right to the $100,000 deposit.
NEW ACCOUNTING STANDARDS
In December 2004, the Financial Accounting Standards Board ("FASB") issued SFAS No. 153, "Exchanges of Non-monetary Assets," (SFAS 153) an amendment of APB Opinion No. 29, "Accounting for Non-monetary Transactions" (APB 29). The amendments made by SFAS 153 are based on the principle that exchanges of non-monetary assets should be measured based on the fair value of the assets exchanged. Further, the amendments eliminate the narrow exception for non-monetary exchanges of similar productive assets and replace it with a broader exception for exchanges of non-monetary assets that do not have commercial substance. Previously, APB 29 required that the accounting for an exchange of a productive asset for a similar productive asset or an equivalent interest in the same or similar productive asset should be based on the recorded amount of the asset relinquished. APB 29 provided an exception to its basic measurement principle (fair value) for exchanges of similar productive assets. The FASB believed that exception required that some non-monetary exchanges, although commercially substantive, be recorded on a carryover basis. By focusing the exception on exchanges that lack commercial substance, the FASB believes SFAS 153 produces financial reporting that more faithfully represents the economics of the transactions. SFAS 153 is effective for non-monetary asset exchanges occurring in fiscal periods beginning after June 15, 2005. Earlier application is permitted for non-monetary asset exchanges occurring in fiscal periods beginning after the date of issuance. The provisions of SFAS 153 shall be applied prospectively. The Company has evaluated the impact of the adoption of SFAS 153, and does not believe the impact will be significant to the Company's overall results of operations or financial position.
In December 2004, the FASB issued SFAS 123 (revised 2004), "Share-Based Payment" (SFAS 123(R)). Among other things, SFAS 123(R) requires expensing the fair value of stock options, previously optional accounting. For transition, upon adoption on January 1, 2006, SFAS 123(R) would require expensing any unvested options and will also require us to change the classification of certain tax benefits from option deductions to financing rather than operating cash flows. As of December 31, 2003, the Company did not have any unvested options which would require adjustment upon adoption of SFAS 123(R). Adoption should have the same impact as the pro forma disclosure included under stock option plans in note 1 to the consolidated financial statements.
CRITICAL ACCOUNTING POLICIES
The SEC issued Financial Reporting Release No. 60, "Cautionary Advice Regarding Disclosure about Critical Accounting Policies" ("FRR 60"), suggesting companies provide additional disclosure and commentary on their most critical accounting policies. In FRR 60, the SEC defined the most critical accounting policies as the ones that are most important to the portrayal of a company's financial condition and operating results, and require management to make its most difficult and subjective judgments, often as a result of the need to make estimates of matters that are inherently uncertain. Based on this definition and based on the Company's current status as a development stage company, Idea
Sports' most critical accounting policies include the valuation of intangibles, which affects their amortization and impairment calculations and stock-based compensation. The methods, estimates and judgments Idea Sports uses in applying these most critical accounting policies have a significant impact on the results it reports in its consolidated financial statements.
INTANGIBLE ASSET VALUATION - The determination of the fair value of certain acquired assets and liabilities is subjective in nature and often involves the use of significant estimates and assumptions. Determining the fair values and useful lives of intangible assets especially requires the exercise of judgment. Idea Sports may use its common stock to acquire assets and will probably use the Black-Scholes valuation method to determine a valuation for the stock used in an acquisition. The Black-Scholes valuation method calculates a volatility factor for the stock price and extrapolates a valuation using these criteria. This valuation method has generally proven effective for companies with established markets for their common stock; however, due to the lack of an established trading market for Idea Sports, a development stage company, in the opinion of management, this may result in an unduly high valuation for the stock.
STOCK BASED COMPENSATION - Idea Sports records stock-based compensation to outside consultants at fair value in general and administrative expense. Historically, Idea Sports does not record expense relating to stock options granted to employees with an exercise price greater than or equal to market price at the time of grant. Idea Sports reports pro-forma net loss and loss per share in accordance with the requirements of SFAS 123 and SFAS 148. This disclosure shows net loss and loss per share as if Idea Sports had accounted for its employee stock options under the fair value method of those statements. Pro-forma information is calculated using the Black-Scholes pricing method on the date of grant. This option valuation model requires input of highly subjective assumptions. Because Idea Sports' employee stock options have characteristics significantly different from those of traded options, and because changes in the subjective input assumptions can materially affect the fair value estimate, in management's opinion, the existing model does not necessarily provide a reliable single measure of fair value of its employee stock options. Idea Sports did not have any stock-based compensation during 2004; however, the Company did have option compensation in 2003 and expects to have option compensation in the future.
OTHER - The Company expects revenue recognition and other financial estimates to become critical as business develops in the future.
OFF-BALANCE SHEET ARRANGEMENTS
The Company does not have any material off-balance sheet arrangements.
Another job well done for the clean up crew.
Idea Sports Entertainment Group Inc. Settles Lawsuits
Tuesday March 15, 2:53 pm ET
LAKE CITY, S.C.--(BUSINESS WIRE)--March 15, 2005--Idea Sports Entertainment Group, Inc. (OTCBB:ISPO - News) Chairman and CEO William C. Morris announced today that an agreement has been reached to dismiss a lawsuit filed in Georgia by certain shareholders on behalf of the company against former employees William Miller and Jon Pritchett.
In a statement released by Idea Sports Entertainment Group, Chairman and CEO William C. Morris commented, "As part of the transition from the previous management team to Idea Sports Entertainment, we have conducted a thorough investigation into the allegations related to the Georgia lawsuit and have determined the allegations to be unproven and the lawsuit to be counter productive to our current goals for the company."
"We have made great progress over the past several months, and feel it is in our best interest to devote our time, efforts, and other resources to the company, rather than to past matters. As Chairman and CEO of the new company, I regret any inconvenience that this situation has caused Mr. Pritchett, Mr. Miller, and any other of the involved parties."
In addition, an agreement has been reached to dismiss a separate lawsuit filed in Delaware by certain shareholders against the company, certain other shareholders, and former and current officers and directors and a counterclaim filed by the company.
About Idea Sports Entertainment Group, Inc.
Idea Sports Entertainment Group, Inc. is a sports and entertainment marketing and management company dedicated to developing undervalued sports and entertainment properties and discovering niche opportunities to serve underdeveloped market segments.
Forward-looking Information:
This news release contains forward-looking statements regarding the company's business and operations. There are many factors that affect future events and trends related to the company's business. These factors involve certain risks and uncertainties that could cause actual results or events to differ materially from management's views and expectations. Inclusion of any information or statement in this news release does not necessarily imply that such information or statement is material. The company does not undertake any obligation to release publicly revised or updated forward-looking information. Such information included in this news release is based on information currently available and may not be reliable after this date.
All today's trading logs will show is that ISPO was down one penny.
Oh what stories that little penny must have to tell. <EOM>
About Idea Sports Entertainment Group Inc.
Idea Sports & Entertainment Group, Inc., is a concept development company that internally creates projects in the fields of professional sports, motor sports, motion pictures, animated films, publishing, television, radio, licensed merchandise, direct-to-retail videos and international entertainment for distribution into the global marketplace.
Through various exclusive partnerships and wholly-owned subsidiaries, Idea Sports & Entertainment Group, Inc., develops unique content through its internal creative team and then partners with individuals and corporations already established in the respective field or industry for which the project was created which increases the viability that the project will be successful and profitable.
The Idea Sports & Entertainment Group business model involves negotiating a revenue share agreement with its individual and corporate partners to minimize the up front development costs associated with each project that has been created which minimizes the risk associated with developing a profitable business unit for the company.
Idea Sports & Entertainment Group, Inc., is headquartered in Lake City, South Carolina with regional offices located in Charlotte, North Carolina and Atlanta, Georgia. The company plans to open a regional office in Los Angeles, California sometime in 2005 to more efficiently manage its entertainment projects that are currently in development.
Interesting Article about Hank Jones
Idea Sports Entertainment Enters Agreement with NASCAR Merchandising Pioneer Hank Jones Veteran Motorsports Marketer To Serve As Executive Producer of America’s Top Driver (ATD) Racing Series. Jones’ Merchandising company to handle ATD licensed products.
To get an idea of what Jones helped start, think of this: The company that Jones started in the 1980s, Sports Image, was sold to Dale Earnhardt in 1994 for a reported $6 million.
Earnhardt turned around a year later and sold the company to Action Performance for $30 million.
Last year Action Performance, a publicly held company headquartered in Phoenix, reported more than $400 million in sales.
http://www.usatoday.com/sports/motor/nascar/2003-08-29-souvenirs_x.htm
Keepsakes keep fans sold on racing
By Amy Rosewater, special for USA TODAY
When Hank Jones first began showing up at racetracks in places like Darlington, S.C., more than 20 years ago, he would be busy engraving race car drivers' signatures onto 99-cent sunglasses. He'd sell them for a few bucks and make a pretty little profit.
NASCAR merchandise, such as shirts and hats, are popular purchases at race tracks.
By Shawn Dowd, (Rochester, N.Y.) Democrat and Chronicle
On Sunday afternoons he had an even better deal. He got to wipe the windshield of Bobby Allison's race car.
Little did Jones know then that he and a handful of others were on the cusp of revolutionizing the stock car souvenir business. Jones and others saw themselves as small entrepreneurs who got to watch races as a perk.
To get an idea of what Jones helped start, think of this: The company that Jones started in the 1980s, Sports Image, was sold to Dale Earnhardt in 1994 for a reported $6 million.
Earnhardt turned around a year later and sold the company to Action Performance for $30 million.
Last year Action Performance, a publicly held company headquartered in Phoenix, reported more than $400 million in sales.
NASCAR chief operating officer George Pyne estimates there will be more than $2 billion in NASCAR retail sales this year.
What began with small trailers has transformed into a booming business that includes a 1 million-square-foot facility in China with more than 6,000 employees churning out 18 million die cast cars a year. At each of the 36 Winston Cup races this year, Action Performance has 32 trailers, some of which sell up to 700 items.
"I never did see how far this could go," says Jones, a native of Orangeburg, S.C., who is president of Sports Design, a Concord, N.C., company that works with several NASCAR drivers and teams as well as country music stars.
"I knew it was growing and growing, but I don't think I or Dale or anyone realized how far this could go."
Jones was, however, one of the few who realized that NASCAR had potential at a time when few in the business world even knew what a stock car was.
When he first started selling sunglasses, he had a table set up at a gas station near Daytona International Speedway.
One day he saw Allison pull in to the station. Jones recognized him immediately and started talking to him about putting Allison's signature on the glasses. Allison liked the idea, and Jones grew his business. Soon Jones became part of Allison's team, cleaning his windshield on race day.
Jones was able to use a trailer from Miller Brewing in the early days. But his business didn't kick into high gear until he borrowed $100,000 from J.B. Sherrill, a hunting buddy from Gastonia, N.C., who now is deceased. In return, Jones offered Sherrill 25% of his company. Three years later Jones paid off the loan.
It took a while for Jones to get his trailers onto the actual racetrack property. Initially, track owners viewed Jones' business as competition, so Jones and other salesmen typically held shop on cow patches and cornfields yards from the official track property.
The first owner who allowed Jones to sell products trackside was the late H. Clay Earles in Martinsville, Va.
After much pestering from Jones, Earles allowed Jones to set up a small stand. Jones paid Earles $500 and had to promise not to cause any traffic jams. Jones says he made several thousand dollars that weekend. Earles was happy there weren't any problems and allowed Jones two trailers the following year.
"I kept getting closer and closer to the track, and I finally got there," Jones says.
Jones makes no bones about it. He was successful because he was at the right place at the right time and because he worked with Earnhardt.
A sixth-grade dropout, Jones saw a lot of potential in Earnhardt and befriended the eventual seven-time champion long before he became NASCAR's answer to Elvis.
Jones says the two shook on a deal during a fishing trip. During that trip they came up with the name of Jones' company, Sports Image, and it was then, Jones says, that he secured Earnhardt's approval to license products.
"It was just a handshake," he says, adding Earnhardt didn't own any part of Sports Image until he purchased the company in 1994.
Jones capitalized on the deal, helping create one of the most successful identities in the sport.
Earnhardt handled the driving and Jones worked behind the scenes, selling everything from T-shirts to key chains with Earnhardt's likeness.
Jones says he even came up with the nickname "The Intimidator."
"He was an intimidating guy," Jones says of Earnhardt, who was killed in a last-lap crash in the 2001 Daytona 500.
"At first we tried calling him 'The Dominator,' but he wasn't dominating and sales weren't good so I suggested 'The Intimidator.' Dale didn't like it, but it worked."
Shiny trailers bought 'em in
Jones stood out in the early days of the souvenir business because his trailers were shiny and big.
"I had all these trailers, and I'd have lines 20 deep," Jones says.
Earnhardt's success on the racetrack made Jones' business bigger off it. Almost as soon as Earnhardt would win a race, Jones would have a T-shirt printed for the next one.
"Dale made it very easy for me," Jones says.
ISPO Press Releases Part 3
Idea Sports Entertainment Group Acquires Las Vegas-Based Strategic Gaming Consultants, LLC
Idea Also Acquires Two Key Resort/Casino Based Television Series.
12/16/2004 10:45 AM
Lake City, South Carolina /Business Wire/ -- Idea Sports Entertainment Group, Inc. (ISPO.BB)OTC announced today that it has acquired Las Vegas-based Strategic Gaming Consultants, LLC (“Strategic”); formerly headed by legendary gaming and entertainment experts, Murray Ehrenberg and Steve Forte . In addition to the acquisition of ("Strategic"). Idea has also assumed the rights to two key resort/casino-based television series from a separate entity. Details and specifics of the television series will be announced in the near future.
Gaming and Entertainment mogul Murray Ehrenberg commented. “We believe Idea has taken a huge step forward, in regards to their current; and recently acquired sports and entertainment-based properties. We believe that Idea will produce an array of very creative resort/casino-based entertainment projects for distribution through established luxury resorts. Based on what I’ve seen so far, these entertainment ventures should be a huge hit in Las Vegas, other resort/casinos, and internationally through various television, cable and media outlets.”
Idea Chairman/CEO, William C. Morris added, “Our expertise and vast network of relationships that Strategic will build upon; shall be invaluable to us, as we develop our own resort/casino-based entertainment projects with both traditional casinos and Native American Resort Casinos.
About Strategic Gaming Consultants
Strategic Gaming Consultants was founded and headed by legendary resort entertainment and gaming experts, Murray Ehrenberg and Steve Forte. With a combined experience of over 100 years in resort entertainment and gaming, Forte and Ehrenberg are well respected worldwide; and are considered experts in the fields of gaming, casino management, tournament management, resort entertainment management, and casino/resort development. Ehrenberg previously was casino manager for Golden Nugget Corporation; and Vice President of casino operations at the Stardust Hotel-Casino in Las Vegas. Forte and Ehrenberg have consulted for numerous well-known luxury resort-casino establishments in past years. In Las Vegas, and many other locations worldwide.
America's Top Driver Receives Over One Thousand Driver Applications In The First Two Weeks After Announcing $1,000,000 Racing Series
Idea Chairman & CEO William C. Morris comments on America's Top Driver and Idea Sports Entertainment in a series of internet interviews.
12/21/2004 11:00 AM
LAKE CITY, SC December 21, 2004 /Business Wire/ -- Idea Sports Entertainment Group, Inc. (OTCBB: ISPO - News) announced today that it's initial motorsports entertainment venture, America's Top Driver Racing Series, has reached the milestone of one thousand qualified driver applications in the first two weeks after the company announced the series and its website www.americastopdriver.com on November 29, 2004. The application process is scheduled to run through March 15, 2005.
In addition to coverage of Idea initiated by numerous motorsports print and internet media outlets, and various analyst websites, you can find our more about America's Top Driver Racing Series and the future of Idea Sports Entertainment Group through a series of interviews conducted with Idea Chairman & CEO, William C. Morris at the following financial internet locations: www.wallst.net, www.ceocast.com, and www.ceocfointerviews.com. To listen or view the interviews simply log onto the website and type "ISPO" or "Idea Sports Entertainment" in the appropriate area.
Idea Director of Motorsports and 3-time NASCAR Nextel Cup (formerly Winston Cup) Champion, Cale Yarborough commented, "The response to America's Top Driver is the talk of the racing community. I haven't heard anything but good comments, and excitement, and everyone I talk to wants to know more about this series. One thousand driver applications in the first two weeks is pretty impressive. That shows me how many drivers are passionate about the sport, and just want a chance to show their talent. Everything is coming together . . . tracks, cars, sponsors, television, and as you can see, drivers. As good as I felt about this when we announced it a few weeks back, I'm ten times more excited now."
Chairman & CEO William C. Morris added, "The response has been great. Along with applications from a diverse group of talented drivers from the United States, we've received applications from qualified men and women in Australia, Canada, South America, Europe and Asia. Based on the reaction so far, we estimate that we'll probably receive about three thousand applications to fill the 40 driver spots for our inaugural season. After the holidays, we'll be announcing our key relationships with regard to sanctioning partner, sponsors, track partner, and television. We've also got a big surprise regarding our celebrity motorsports superstar. I'm really pleased with our progress so far."
America's Top Driver is on schedule to air late summer or early fall in 2005.
Idea Sports Entertainment Group Partners with Chinese Beijing Lin Liu International to Develop Sports, Entertainment, and Travel Projects in Beijing, China
$600 Million Chinese Government-Backed "Hollywood 21 Century Digital Theme Park" in Beijing to lead list of projects
12/27/2004 8:30 AM
LAKE CITY, S.C.--(BUSINESS WIRE)--Dec. 27, 2004-- Idea Sports Entertainment Group, Inc. (OTCBB:ISPO - News) Chairman and CEO William C. Morris and Mr. Robert J. Wussler announced today that the company has entered into a partnership relationship with Chinese Beijing Lin Liu International (Lin Liu International). Lin Liu International is the only full powered multi-cultural project agency in Asia supported by government leaders from different levels. Their professional expertise in bringing high quality goods, services, and entertainment to China has earned the necessary Government backing enabling companies to conduct business in China.
Initial projects under this relationship include the development of "Hollywood 21 Century Digital Theme Park" in Beijing, China, in conjunction with the Beijing Government. The theme park, designed by US-based Land Mark, will be located within Beijing, and will be equipped with the latest of technological advances for fun family enjoyment. Idea is currently negotiating with potential US-based companies to be involved in the development, finance, construction, content, and US marketing of the theme park.
Additional projects include: 24 Hr International Digital TV Channel, Movie (DVD), Music (CD), Video & Audio Distribution Network, International Sports, International Music Concerts, Movie & TV Documentary Programs, and US-China Cultural Exchange Speaking Forum, and other Sports, Entertainment, Travel, and Tourism projects.
Madam Lin Liu commented, "Our company is very excited to have this relationship with Idea Sports Entertainment. We have been looking for a US-based sports and entertainment company to assist us in our endeavors to bring cultural/entertainment projects to the city of Beijing. We believe that Idea's network of entertainment, sports, and business relationships will be invaluable as we move forward with the Hollywood 21 Century Digital Theme Park" in Beijing. In addition, "America's Top Driver Racing Series" is of specific interest to us due to the increasing motorsport fan base in China, and the need for quality motorsports events, both live and broadcast."
Mr. Robert Wussler added, "This is indeed a unique opportunity for Idea to work with a Chinese government-backed company to bring entertainment and media projects to Beijing, and other markets in China. When you look at Beijing's population of 12 million, as compared to New York City's of 8 million, it clearly shows the opportunities that this partnership created. I'm also thrilled to announce this relationship because of my admiration for Madam Lin Liu. She is a first-class business woman, artist, and entrepreneur."
About Chinese Beijing Lin Liu International Cultural Exchange Group
Chinese Beijing Lin Liu International Cultural Exchange Co. Ltd. (hereinafter referred to as "Lin Liu International or LLICE"), is the only full powered multi-cultural project agency in Asia supported by government leaders from different levels. Lin Liu International regards cultural exchange as its industry and specializes in international enterprises entering and existing in the Chinese market.
Dedicated to international cultural exchange projects in recent years, LLICE has made prominent contributions in supporting success in the cultural, educational, sports, film, and television fields; as well as audiovisual products. Lin Liu International not only possesses strong talents in cultural management and marketing development, but also contains strong support from many official relationships necessary for providing a solid bridge of cultural exchange, and smooth project interaction. In addition, LLICE has provided first-class service guides for the exchange of international cultural enterprises and business projects in order to help develop international markets for expanding domestic and overseas companies.
Beijing Lin Liu international Culture Exchange Co. Ltd, part of the Lin Liu International culture Exchange Group, specializes in Culture exchange projects in China. Lin Liu International works in co-operation with foreign Enterprises that have management and license rights. Lin Liu International professional expertise in bringing high quality goods, services, and entertainment to China has earned the necessary Government backing enabling foreign companies to conduct business in China.
Additional information regarding the company is available at www.linliu.cn
Idea Sports Entertainment Group Partners With Israeli-Based SporTVu, Ltd. to Launch Patented Revolutionary Sports Production Technology
Tuesday January 11, 11:06 am ET
SporTVu Estimates Annual Revenue to Exceed $300 Million
LAKE CITY, S.C., Jan. 11 /PRNewswire-FirstCall/ -- Idea Sports Entertainment Group, Inc. (OTC Bulletin Board: ISPO - News) Chairman and CEO William C. Morris announced today that the company has entered into an equity partnership with Israeli-based SporTVu, Ltd. Under the terms of the agreement, Idea will supply funding, and internationally market and distribute SporTVu's patented sports video filming and production technology products.
On behalf of Idea Sports Entertainment Group, Inc., Robert J. Wussler, former President of CBS and Co-Founder of CNN released the following statement: "Dr. Miky Tamir is a visionary in the area of sports video, filming, and television graphic presentation. His inventions are a major part of sports on television as we know it. From on-field graphics including the yellow first-down line used by NFL and NCAA college football broadcast partners CBS, FOX, ABC, and ESPN, to virtual advertising, to instant replay technology, Miky has set the gold standard which is used throughout the sports production industry. In my years with CBS Sports and Turner Sports, I've had the opportunity to see a lot of new sports production technology. Miky's latest work will revolutionize the way sports productions are viewed on television and over the Internet. Football, baseball, basketball, hockey, auto racing, boxing, horse racing, golf, you name it . . . You will see this technology applied to all sports. We at Idea are extremely excited about this partnership."
A partnership between Dr. Michael (Miky) Tamir, private investors, and the Israeli Government, SporTVu, Ltd. is composed of a highly skilled technology group of experts with more than 100 years experience in Video Imaging technologies. SporTVu's technology also has applications in video gaming, military training simulators and casino gaming surveillance.
In a statement released by SporTVu Ltd., founder Dr. Miky Tamir commented, "I am very pleased to enter this relationship with a company that has the vast resources and experiences of Idea Sports Entertainment Group. We look forward to working with Mr. Robert Wussler, Mr. William Morris, and their team to bring our latest inventions to the US and international sports market."
About Dr. Michael (Miky) Tamir, Founder, SporTVu, Ltd.
Dr. Miky Tamir is also the founder of Orad Hi-Tec Systems, Ltd. (www.orad.tv), a public company and world leader in virtual sets, broadcast graphics, sports production tools and visual simulations.
February 1st Webcast Scheduled to Detail Idea Sports Entertainment's New SporTVu Technology with Annual Potential Revenue Estimated to Exceed $300 Million Dollars
Wednesday January 12, 9:30 am ET
LAKE CITY, S.C.--(BUSINESS WIRE)--Jan. 12, 2005--Idea Sports Entertainment Group, Inc. (OTCBB: ISPO - News) Chairman and CEO William C. Morris announced today that due to the overwhelming demand from the media sports, and investment communities, for information regarding the partnership between Idea and SporTVu, Ltd., and the revolutionary SporTVu technology, the company has scheduled a webcast to provide detailed information concerning the specifics of the technology, and the multiple applications in both the US sports industry, and worldwide sports community.
The system basically gives the viewer the ability to isolate any single or multiple participants from a group, and view the participant(s) from every possible viewpoint.
The system also has applications in the fields of coaching (film analysis), video gaming, military training simulators, and casino gaming surveillance.
Representatives from both SporTVu, Ltd., and Idea Sports Entertainment Group will be available on the webcast.
Idea Sports Entertainment Chairman and CEO William C. Morris commented, "Since the SporTVu announcement, our office has been inundated with requests for information about the technology. When you look at the past technology developed by our partners, which includes graphic imaging technology that has been used in the broadcast of sports programming including the Olympics, National Football League (NFL), NCAA Sporting Events, Formula 1 Racing, and Premier League Soccer, you can't help but get excited about what is coming next. We look forward to this webcast, and the chance to share SporTVu's revolutionary new technology with our shareholders and the public."
The 45 minute webcast will take place at 2:00 PM EST, February 1, 2005. To participate in the webcast or view details regarding any changes to this schedule, please visit the company's website at www.ideaseg.com.
About Dr. Michael (Miky) Tamir, Founder, SporTVu, Ltd.
Dr. Miky Tamir is also the founder of Orad Hi-Tec Systems, Ltd. (www.orad.tv), a public company and world leader in virtual sets, broadcast graphics, sports production tools and visual simulations.
ISPO Press Releases Part 2
Idea Chairman & CEO William C. Morris announces shift in business focus
"International Sports & Entertainment" projects will be a big part of Idea's New Business Plan.
11/11/2004 3:11 PM
LAKE CITY, SC November 11, 2004 /Business Wire/ -- Idea Sports Entertainment Group, Inc. (OTCBB:ISPO) Chairman and CEO William C. Morris announced today that subsequent to it recent name change, corporate relocation, and acquisition of Idea Management Group, it will shift the focus of its core business to that of domestic and international sports and entertainment projects.
Idea Sports and Entertainment Group's current project base includes motion pictures, television/radio, publishing, sports properties, licensed merchandise, and direct-to-retail videos, along with newly developed opportunities in international business relating to sports and entertainment travel/tourism, and sports media projects. Between now and January 1, 2005 Idea will define these categories and how and who will be managing these assets. The company will also announce the support areas of Idea, the public company, as to accounting, legal, financial, and consulting representation.
Chairman and CEO William C. Morris commented. "As we continue with our transition plan, we are moving away from our past core business segment, and focusing our efforts entirely on "entertainment" based projects, dealing primarily with sports, film production (both motion picture and television), licensed products, and international-based entertainment opportunities, with a special emphasis on China.
Idea Sports Entertainment Group Acquires "America's Top Driver Racing Series" from New York-based The Adler Group.
Series begins search for "America's Top Driver". One Million Dollar Grand Prize to be awarded in addition to a 3-race professional racing contract.
11/29/2004 10:00 AM
LAKE CITY, SC November 29, 2004 /Business Wire/ -- Adding to the stable of entertainment-based projects, Idea Sports Entertainment Group, Inc. (OTCBB:ISPO) ("Idea"), announced today that it has purchased the rights to "America's Top Driver " racing series from New York-based, The Adler Group.
Idea Chairman and CEO, William C. Morris commented, "We're excited about acquiring this the America's Top Driver Racing Series, which will be the cornerstone of our motorsports-entertainment division. We are also currently in negotiations to acquire additional motorsports, sports, and entertainment projects from Lenny Adler and The Adler Group".
Idea is currently accepting qualified applications on the America's Top Driver website: (www.americastopdriver.com). Information regarding the series, and application guidelines are also available on the website. Additional information relating to America's Top Driver Racing Series will be posted on the website as it becomes available.
America's Top Driver will be administered by Idea Management Group, a wholly owned subsidiary of Idea Sports Entertainment Group, Inc.
CNN Co Founder and Former CBS Head Robert J. Wussler To Oversee Idea's Sports and Entertainment Projects
11/30/2004 9:00 AM
LAKE CITY, SC November 22, 2004 /Business Wire/ -- Idea Sports Entertainment Group, Inc. (OTCBB: ISPO - News), announced today that CNN Co-Founder, and former CBS President, Robert J. Wussler has accepted the position of special consultant to the company, and will oversee all of Idea's Sports and Entertainment Group projects. Wussler will assume this role immediately.
Mr. Wussler commented, "I accepted this position because I believe in the overall vision of the company, and in its unique platform of sports and entertainment projects. I see their recent acquisition of America's Top Driver Racing Series, and newly formed relationship with The Adler Group, as a terrific platform to build a sports and entertainment media company."
Idea Chairman and CEO William Morris added. "We are thrilled that Robert Wussler has joined us in the capacity. His vast experience in the sports and entertainment industry speaks for itself. He is indeed one of the sports and entertainment visionaries of our time. We feel confident that his guidance will be a great asset to Idea as we begin to bring to the forefront some our key motorsports, sports, and entertainment projects. I look forward to joining with Robert in the next few weeks to announce the details of some of our exciting opportunities."
About Robert J. Wussler
Robert J. Wussler's instinct for innovation has left important imprints on commercial, cable, and satellite television, where he has been responsible for groundbreaking advancements during his career. In 21 years at CBS, where he began in the mailroom, and then rose quickly to Executive Producer of CBS News-overseeing special projects including election coverage and man-on-the-moon-Wussler gained prominence as an innovator and leader, from his early use of miniature cameras to his calm control room demeanor as Walter Cronkite's producer. As President of CBS Sports, he essentially invented the genre of pre-game telecasts with "NFL Today," for which he hired Brent Musburger, Irv Cross, Jimmy the Greek Snyder, and Phyllis George. Soon he was named president of the CBS Television Network at a record-setting young age.
In 1980 Mr. Wussler joined Ted Turner as a co-founder of CNN. For a decade he served as number-two executive to the man who has written "I couldn't have done it without Bob Wussler." Mr. Wussler helped enfranchise Turner Broadcasting Systems as a major power by acquiring high-profile sports and entertainment properties including the NBA, the NFL, the Goodwill Games, and exclusive movie packages. For almost 10 years he oversaw the growth of SuperStation TBS as its President and, in 1988, he was instrumental in the founding of TNT.
From 1989 to 1992, Wussler was President and CEO of COMSAT Video Enterprises, which grew rapidly in the field of on-demand video in the hotel industry. While there, he also managed the acquisition of the Denver Nuggets, serving as Managing General Partner. Following several international entrepreneurial ventures, including Metromedia's European television distribution businesses, Mr. Wussler was President and CEO of ABC Affiliate Enterprises, the new media and marketing arm of over 100 ABC television affiliates.
For the past several years he has run The Wussler Group, an international media consultancy focused on developing television and Internet properties, electronic commerce, and convergence technologies.
Wussler has served as Chairman of the Board of the National Academy of Television Arts and Sciences for three terms, in addition to serving as Treasurer to the Board of Governors of the National Cable Television Association and serving on the Board of Governors of the National Academy of Cable Programming. He is a past member of the Board of Directors of the Cousteau Society and the Washington Performing Arts Society. Mr. Wussler also served as President and Chief Executive Officer of Ted Turner Pictures.
3-Time NASCAR Champion Cale Yarborough Joins "America's Top Driver " Team as Director of Idea Motorsports
Racing Legend also to Serve as Television Analyst for the Million Dollar America's Top Driver Racing Series.
12/02/2004 10:00 AM
LAKE CITY, SC December 2, 2004 /Business Wire/ -- Idea Sports Entertainment Group, Inc. (OTCBB:ISPO) ("Idea") Chairman & CEO William C. Morris announced today that legendary NASCAR Champion Cale Yarborough has joined the company, and will serve as Director of the Idea Motorsports Division, and as a television analyst for its upcoming America's Top Driver Racing Series, scheduled to be televised weekly during its inaugural racing season.
Cale Yarborough commented, "America's Top Driver is one of the most interesting, and compelling racing series I've ever seen. I think it's great. For a young driver to have a chance to race in great equipment, on a big-time racetrack, with a chance to go head-to-head with a superstar for One Million Dollars . . . I wish I could jump in the car myself. Aside from the whole excitement of the series, we might just find that next Richard Petty or Dale Earnhardt. A lot about racing is being in the right place at the right time. I know that first hand. Racing has been very good to me, and if this series could be the right place, and the right time for a young driver, then I'm all for it. I just think it could be a great and entertaining racing series that we could do year after year."
Cale Yarborough is a giant in stock car racing and brings a wealth of experience and knowledge to America's Top Driver . He won 83 of 558 races, an impressive 14.87 winning percentage. His 83 wins are fifth on the all-time list. He also won 70 poles, third on the all-time list. While winning more than $5 million in prize money, Yarborough accomplished some other impressive statistics. He's the only driver to win the NASCAR Grand National (now NASCAR Nextel Cup) championship three years in succession (1976-78), and the only champion (1977) to be running at the finish of every race. In 1987 Yarborough formed Cale Yarborough Motorsports, a NASCAR racing team. He owned and operated his NASCAR Winston Cup Team for another 14 years.
Idea Chairman & CEO, William C. Morris added, "Landing a legend like Cale Yarborough in this capacity is a great start for us. I'm excited about his initial passion and enthusiasm regarding America's Top Driver . I look forward to working closely with him on this project, and other motorsports projects that Idea has in the works."
Idea Sports Entertainment Enters Agreement with NASCAR Merchandising Pioneer Hank Jones
Veteran Motorsports Marketer To Serve As Executive Producer of America’s Top Driver (ATD) Racing Series. Jones’ Merchandising company to handle ATD licensed products.
12/14/2004 10:30 AM
LAKE CITY, SC December 14, 2004 /Business Wire/ -- Idea Sports Entertainment Group, Inc. (OTCBB: ISPO - News) Chairman/CEO William C. Morris and Cale Yarborough, Director of ATD Motorsports announced today that the company has entered into an agreement with veteran NASCAR and motorsports marketing executive Hank Jones. Under this agreement, Mr. Jones will serve as Executive Producer of its upcoming made-for-television racing series, America’s Top Driver (ATD).
Idea is currently accepting driver applications at www.americastopdriver.com
The company also announces that Hank Jones, through his motorsports merchandising companies, (Bikers Sports Design, a distributor of Harley Davidson Merchandise, and TriMax Promotions, a distributor of the Stars of Discovery Channel, Orange County Chopper merchandise) will exclusively produce and distribute licensed merchandise in conjunction with the ATD racing series.
Idea Chairman/CEO William Morris commented, “As you can see with our additions of NASCAR legend Cale Yarborough, and now Hank Jones, our goal is to surround America’s Top Driver with motorsports experts . . . and Hank Jones certainly fits into that category. Jones’ company will handle Idea’s future licensing for all their sports and entertainment projects. Director of ATD Motorsports, Legendary NASCAR Driver, Cale Yarborough commented “Having Hank Jones join us with Idea Sports Entertainment and ATD Series is a real plus for our company and series. With his tremendous motorsports experience and background, he will be a help to us in so many ways, especially evaluating the car selection process, evaluating and picking the right racetrack, being a part of the committee to select the celebrity motorsports driver and, finally, assisting us in selecting the right production company to film the series and selecting a network or cable affiliate to present the series. I have known Hank my entire racing career and I am very proud to have him on our team”.
Hank Jones added, “I’m very pleased to announce my relationship with Idea Sports Entertainment and America’s Top Driver. I’ve seen a lot of things in my years in motorsports, but this one stands out….the thought of giving some good young drivers the chance of a lifetime. With what I’ve seen so far, America’s Top Driver is going to be big, and I’m glad to be a part of it. As a matter of fact, we’re starting to build a merchandising program for the series already. I think that this series will attract additional motorsports celebrities, as well as entertainment celebrities. Like I said, this is going to be big, real big.”
About Hank Jones
Hank Jones is the founder and president of TriMax Promotions, LLC. TriMax is currently under contract with the stars of Discovery Channel’s top rated hit, Orange County Choppers (OCC). TriMax maintains a 53-foot Orange County Choppers souvenir trailer that distributes OCC licensed merchandise at all NASCAR Nextel Cup events, as well as large motorcycle rallies. TriMax also is in the process of producing a retail catalog exclusively for Orange County Choppers.
Hank Jones is also the founder and president of Bikers Sports Design, LLC. This company sells Harley-Davidson Motorsports souvenirs at NASCAR events as well as to Harley-Davidson Dealers. Hank also founded Sports Design, Inc. in January of 1994. Sports Design, Inc. is one of the country’s largest suppliers of racing related wearables and merchandise in the industry. He is considered one of the pioneers in NASCAR souvenir sales and is known for his “street smart” savvy. Racing has since dominated his life and he has spent time racing in the Legend Series. In addition, he worked on the crews of legendary drivers; Bobby Allison, Dale Earnhardt, Davey Allison, and Mark Martin.
He was the original founder of Sports Image, which was later sold to Dale Earnhardt in 1994. Sports Design was then formed and was a family run company. His past and present client list includes: Bobby Allison, Dale Earnhardt, Rusty Wallace, Davey Allison, Michael Waltrip, Miller Brewing, GM Goodwrench, Texaco, Penzoil, M&M Mars, Valvoline, UAW-Delphi, Kellogg’s, Roush Racing, Hendrick Motorsports, Jerry Nadeau, Terry Labonte, Johnny Benson, Mark Martin, Ernie Irvan, Jeff Burton and Ken Schrader.
Hank plays a major role in the Motorsports industry and has been awarded countless times for his continued support. He also serves on the National Board of Directors for Speedway Children’s Charities. He is strong supporter of the Boy Scouts of America and is known for his charitable contributions. The University of South Carolina presented Hank with the first “South Carolina Pioneer of the Year Award” in 2001 for his contribution and accomplishments in the sporting industry.
ISPO Press Releases Part 1
Team Sports Entertainment signs Letter of Intent to acquire Idea Management Group
9/1/2004 8:30:00 AM
DALLAS, TX September 1, 2004 /Businesswire/ -- Team Sports Entertainment, Inc. (TSPT), announced today that it has reached an agreement and entered into a non-binding Letter of Intent to acquire Idea Management Group, Inc. Based on the completion of required security-related filings and agreed-upon due diligence, it is anticipated that the acquisition will be completed by September 15, 2004.
Team Sports Entertainment completes acquisition of Idea Management Group
9/13/2004 8:30:00 AM
DALLAS, TX September 13, 2004 /Businesswire/ -- Team Sports Entertainment, Inc. (TSPT.OB), a fully-reporting company, announced today that it has completed the acquisition of Idea Management Group, Inc. ("Idea"). Pursuant to the terms of the stock purchase agreement, Team Sports issued warrants to the Idea shareholders entitling them to purchase a total of 15,000,000 shares at purchase price of $.10 per share, with additional warrant purchases subject to revenue performance.
Team Sports Entertainment/Idea Management Group Obtains Funding Commitment
10/13/2004 11:00:00 AM
DALLAS, TX October 13, 2004 /Business Wire/ -- In connection with its recent acquisition of Idea Management Group, Inc. ("Idea"), Team Sports Entertainment, Inc. (TSPT.OB), a fully-reporting company, announced today that it has secured funding to cover the internal business operations of Idea for its initial commitment, which Idea's management believes will fund 12 months of operations. Idea has already received $100,000.00 of the initial $360,000.00 non-guaranteed commitment.
Team Sports Entertainment Appoints New Chairman & Chief Executive Officer
Idea Management Head Also Joins TSPT Board of Directors
10/20/2004 11:00:00 AM
DALLAS, TX October 20, 2004 /Business Wire/ -- Team Sports Entertainment, Inc. (TSPT.OB), a fully reporting company announced today that its Board of Directors has named William C. "Billy" Morris to the position of Chairman & Chief Executive Officer effective immediately. Mr. Morris will also join the Team Sports Board of Directors.
The newly appointed Chairman/CEO, William C. Morris commented, "I appreciate the vote of confidence from the Board of Directors. I look forward to guiding Team Sports Entertainment, and it's newly created sports and entertainment-based opportunities. With the newly created sports properties and entertainment based content projects, I feel that we will be a major player in these industries. Also, with the staff of professionals that we are anticipating to add to our company, I feel we will achieve much success and develop a company that will be profitable and one that will be highly recognized in the sports and entertainment field."
Team Sports Entertainment Relocates Corporate Offices to South Carolina
Company to establish East and West Coast Operational Offices
10/27/2004 2:00 PM
LAKE CITY, SC October 27, 2004 /Business Wire/ -- Team Sports Entertainment, Inc. (TSPT.OB), announced today that as a result of its recent acquisition of Idea Management Group, Inc., and the appointment of William C. Morris as Chairman and CEO, it has relocated it corporate base of operations to Lake City, South Carolina.
The new contact information is: Team Sports Entertainment, Inc., Godley Morris Commerce Center, 800 West Main Street, Godley Morris Building, Suite 100, Lake City, SC, 29560 Phone: (843) 374-4332 Fax: (843) 374-5565. Idea Management Group, the management arm of Team Sports, is also located at the same corporate address.
Team Sports Entertainment Inc. Changes Name To Idea Sports Entertainment Group, Inc.; NASDAQ Ticker Symbol to "ISPO"
11/08/2004 2:30 P.M.
LAKE CITY, SC November 5, 2004 /Business Wire/ -- Team Sports Entertainment, Inc. (TSPT.BB), a fully reporting company, announced today that it has filed the proper documents to legally change its name to Idea Sports Entertainment Group, Inc., a name that it will begin doing business under immediately.
Along with this change, the company's NASDAQ stock ticker symbol will be changed from OTCBB:TSPT to OTCBB:ISPO.
thanks for all your research. i also think this will hit it big with all their projects. good luck.
TRAC's Demise Part 2- timing is so crucial in business.
Look at the shift in NASCAR's popularity between 2001-2002 when TRAC was trying to get going and now.
From 2/21/2001
TV loses $100M on NASCAR
Despite ratings success, NBC/Turner drops about $50M and Fox even more Fox, NBC and Turner Sports collectively lost more than $100 million on NASCAR during the first year of a six-year, $2.4 billion television contract despite leaving their own ratings projections in the dust, network sources said.
NASCAR was arguably the leading success story in sports television this year from the standpoint of ratings and critical acclaim, with broadcast ratings up more than 25 percent. But the losses point to the strongest evidence yet that the current economic climate makes it almost impossible for networks to make money on even their best sports properties. In terms of NASCAR, though, network executives say they're OK with losses in the short term.
The NBC/Turner joint venture lost close to $50 million, network sources said, while Fox, which paid a higher rights fee for the more attractive first-half coverage, is widely thought to have lost even more.
None of the networks would comment on the losses. They agreed the year was one of both satisfaction and disappointment.
"We're a victim of the marketplace, the same way everybody else is," said Mark Lazarus, president of Turner Sports.
COMPARE to 2004-2005
Nascar Finale A Ratings Bonanza
Tuesday November 23, 2004 5:34pm
(Sports Network) - NASCAR's new "Chase for the Championship" format turned out to be a television ratings success.
NBC's Sunday afternoon telecast of the Ford 400 at the Homestead-Miami Speedway earned its highest ever rating - 5.6 rating/11 share.
NASCAR has quietly replaced the NBA as one of the nation's top-rated televised sports.
Since NASCAR jumped onto Fox and NBC, weekly races have drawn audiences that have more than doubled the ones watching regular NBA games and have handily beaten pro-basketball's playoffs.
There already are signs. In June, Nextel Communications (nasdaq: NXTL - news - people ) agreed to pay roughly $700 million over 10 years (see "Nextel's Push To Talk Profits") to replace the sport's longstanding title sponsor, Winston, which had paid $200 million for a five-year deal. The Nextel deal set a record for sports sponsorship deals, and the wireless telecom had to fight with McDonald's (nyse: MCD - news - people ) and Coca-Cola (nyse: KO - news - people ) for the privilege of paying this king's ransom.
Do you think ISPO will be able to find big name sponsors for "ATD" racing show?
Good article that summarizes TRAC,TSPT and their demise. This was the shell ISPO merged into prior to the management change and aquisition of Idea Sports Entertainment Group.
Erik Spanberg
Senior staff writer Charlotte Business Journal - September 1, 2003
Team Racing Auto Circuit Inc. spent two years trying to reach the starting line — and ran out of gas before it got there.
The publicly held startup stock-car racing league, based in Huntersville, this week scrapped its plans for launching a NASCAR rival. TRAC's first season was scheduled to begin in May.
"I am so disappointed that we could not deliver a better result to all of our shareholders," says Terry Hanson, chief operating officer. "There are no fingers of blame to be pointed toward any of our partners."
The company's most recent filing with the Securities and Exchange Commission, dated Aug. 14, shows TRAC with a cumulative loss of nearly $7 million since its creation a little over two years ago. The figure includes a $1 million deficit through the first half of this year.
The racing league is down to two employees and is scheduled to cease operations within six weeks. Negotiations to restructure payment terms with creditors have also begun, with the company hoping to stave off bankruptcy.
The league announced plans for a new stock-car circuit in May 2001. Hanson, a former PGA Tour executive, was part of a founding group that included former CBS executive Robert Wussler and retired NASCAR champion Cale Yarborough.
The league modeled itself after traditional major league ventures such as the NFL and NBA, with franchises to be located in various cities across the country. In NASCAR, drivers compete head-to-head, but not as teams representing geographic areas.
TRAC also had prototype race cars built that differed from traditional stock-car vehicles. The cars were souped-up versions of muscle cars, such as the Dodge Viper and Chevrolet Corvette.
Also, races were planned in shorter, two-hour competitions, rather than the three to four hours inherent in NASCAR events.
"It was an excellent concept, but the timing was bad," says Tim Frost, president of consulting firm Frost Motorsports in Chicago. "The economy worked against them, but they had a good idea and a good management team in place."
Last spring, TRAC signed a broadcast deal with ESPN. For months, company executives said their success hinged on a national network deal.
The ESPN contract didn't prove to be a panacea. The league couldn't sell franchises — originally priced as high as $11 million — and the broadcast agreement with ESPN didn't pay the league any rights fees.
Instead, the TV deal required a $21 million investment from TRAC in 2004 and 2005 in exchange for putting the races on the air. An initial production payment of $375,000 to ESPN was due in October.
The league had also enlisted Raycom Sports to sell TV advertising and sponsorships and Baltimore-based sports-investment firm Moag & Co. to sell franchise rights. Locally based Speedway Motorsports Inc. had agreed to rent five of its six tracks for races during 2004.
"This was an uphill battle all the way," says Humpy Wheeler, SMI chief operating officer. "I'm not surprised that they didn't make it, but I am disappointed. It would have given us more events, and it would have given a lot of young race-car drivers an opportunity."
The startup series appeared to be on the verge of a breakthrough after unveiling its prototype cars at Lowe's Motor Speedway in May 2002. Industry pundits raved over the cars and proclaimed the series a viable alternative for racing enthusiasts.
After that, however, TRAC began to hemorrhage cash, and it struggled through several executive shakeups. Several industry analysts say the concept of team-based racing remains attractive and may surface again.
"I would work with them again in a heartbeat," says Ken Haines, chief executive at Raycom Sports. "They had a great idea and some talented people. They just didn't have very good timing."
Regarding SportVu. Here's another potential long term prospect.
Aside from all the more glamourous uses for SportVu discussed during webcast. Casino gaming surveillance could be a big money maker for this technology. Casinos lose millions to cheaters.
The system basically gives the viewer the ability to isolate any single or multiple participants from a group, and view the participant(s) from every possible viewpoint.
The system also has applications in the fields of coaching (film analysis), video gaming, military training simulators, and casino gaming surveillance.
Now remember this news release.
Idea Sports Entertainment Group, Inc. (ISPO.BB)OTC announced today that it has acquired Las Vegas-based Strategic Gaming Consultants, LLC (“Strategic”); formerly headed by legendary gaming and entertainment experts, Murray Ehrenberg and Steve Forte.
Now add this piece of info to the mix
Steve Forte is a security consultant for many of the larger Las Vegas Casinos and an author of casino security books. Here's one of the many links I found on him.
http://www.casinogameprotection.com/backstory.html
This is what really first caught my eye about ISPO. Warrants not shares. I've never seen that before. If they don't build a real company and the stock price doesn't go way up they get nothing.
Finally, a company whose management has to make a real company to get paid. By the way on 9/9/04 ISPO stock was trading between .07-.09.
NOTE 3--ACQUISITION OF IDEA MANAGEMENT GROUP, INC.
On September 9, 2004, the Company acquired IMGI, a development stage company with no prior operations, in exchange for a warrant to purchase 15,000,000 shares of the Company's common stock at an exercise price of $.10 per share. In addition, in the event IMGI generates $2,000,000 in gross revenue by September 8, 2007, the sellers of IMGI shall receive an additional warrant to purchase 15,000,000 shares of the Company's common stock at an exercise price of $.10 per share.
More information on the Bejing China Project
Idea Sports Entertainment Group Partners with Chinese Beijing Lin Liu International to Develop Sports, Entertainment, and Travel Projects in Beijing, China-Monday December 27, 8:30 am ET
$600 Million Chinese Government-Backed "Hollywood 21 Century Digital Theme Park" in Beijing to lead list of projects.
Beijing International Hollywood Theme Park will target about 10 million visitors in its first year of operation. With individual ticket prices of US $20, first year gate revenues may reach US $200 million alone.IV. THEME PARK AMENITIES
A. Primary Theme Park Area: featuring roller coaster rides, water slides, video arcades and other entertainment activities.
B. Beijing Entertainment Center: A working TV and film studio as well as a theme park. It will house production facilities and several stages for live theater productions.
C. Museum Hall showcasing China great history.D. International entertainment and sport stadium capable of seating 100,000 people.
E. Global shopping village with international food shops and first class retail shops.
F. Resort and Spa featuring four-star resort hotel, a campground, vacation villas, vacation club and an 18-hole championship golf course.
G. Entertainment District: Featuring nightclubs, concert venues and world class restaurants
Welcome to the board. You touched on some very good parts of the ISPO story.
Hey guys, also in this one, for a coulple of months now, been collecting some pennie stocks to add some exitement to my portfolio, this is one of only ones I have found that does not have a dilutive mangament. They lined themselfs with some heavy hitters, to help name brand there company. SporTVU sounds real good, they have allready name branded there tech. with the yellow line for football. I think the new tech will go over big time and sould generate some serious revs. for the company. Any one think they will advertise Top Driver this weekend at the Daytona 500, that would be sweet if they did. Best of luck to you guys. Jamie
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