TBIN See cap $351k and OS 29.29M Tilton lined up to sell
@1M. Rebs '01 $883k and '02 $2M no real debt.
Thoroughbred Interests, Inc. Announces Upcoming Races And Auction
7/1/2003 10:00:00 AM
LOUISVILLE, Ky., Jul 1, 2003 (BUSINESS WIRE) -- Thoroughbred Interests, Inc. (TBIN) announced today that Della Francesca, of which it owns a minority interest and Soldier Song, of which it owns a majority interest are scheduled to race this week at Churchill Downs. Della Francesca has been entered in the 6th race Wednesday scheduled to go off at 3:57 pm EST. The race is an allowance race at a 1 1/16 on the turf with a purse listed at $57,600. Soldier Song is scheduled to run Sunday and entries are taken for the Sunday races on Friday July 4th.
Additionally, the Company is planning on participating as a buyer in the first yearling sale of the year scheduled for July 16-17 in Lexington, Kentucky and held by Fasig Tipton. Historically, the company has been an active buyer in the Kentucky Summer Selected Yearling Sale. The first horse the company ever bought to pinhook was acquired at this sale in July of 1999. A Lord at War Filly who was purchased for $50,000 before associated commissions and expenses was later resold for nearly 3 times ($145,000) its purchase price before associated expenses and commissions.
ABOUT THE COMPANY
Louisville, Kentucky based Thoroughbred Interests, Inc. core business is acquiring undervalued thoroughbred horses and reselling them either as yearlings, two-year-olds in training or as a racing prospect. This is commonly referred to in the Thoroughbred Industry as "pinhooking". Management of the Company has established a network of experienced industry veterans to serve as advisors and to assist in seeking and assessing potential undervalued opportunities. Generally, the horses are acquired at public auctions managed by the leading auction companies such as Keeneland, Fasig Tipton and Ocala Breeders Sales Company. After being bought, the horses are boarded at top training centers and farms to be prepped for resale throughout the United States. Typically, the horses are resold within 6-8 months of being acquired or placed in training as a racing prospect with a top trainer. The Company presently has horses being trained by Niall O'Callaghan and has previously had horses trained by perennial leading trainers Steve Asmussen, Scott Lake and Jerry Hollendorfer. They were ranked respectively #2, #1 and #3 in the country by trainer wins in 2003 through June 26th according to The Daily Racing Form.
Pennies not a zero sum game as much as some zero game.
