MPTV, Inc. (fka MPTT)

[sentsyst]

One ,more Hal and all>

Date: 1/8/2001 9:57:31 AM
Article on MPTV by another SITE!>

DD-Pros Article: MPTV: Lake Tropicana Timeshare Resort

MPTV.otcbb

Greetings:

We would like to bring you the story of what is probably the most watched and
closely followed stock around: MPTV, Inc. (MPTV:OTCBB). This company,
struggling to be a time share company, has been trying to turn the Lake
Tropicana Apartments located at 303 S. Harmon Avenue in Las Vegas, NV into a
timeshare company for several years.

Here are some facts, DD and rumors:

MPTV, INC.
366 San Miguel Street
Suite 210
Newport Beach, CA 92660
949-760-6747

President/CEO: Hurley Reed

Web Site: MPTV Las Vegas Vacation Resort Corporate Project
http://www.laketropmptv.com/

(The picture on their website is how the property appears today. There is a
link that takes you to the new design, which is spectacular!)

SEC Filings: FreeEDGAR: Free Real-Time SEC EDGAR Filings
http://www.freedgar.com/Search/FilingsResults.asp?SourcePage=CompanyList&
CIK=808715&UseFrame=1&FormType=&DateFiled=&CompanyName=MPTV+INC

According to the Transfer Agent "United Stock Transfer":

Authorized: 1,900,000,000
Outstanding: 1,354,804,534
Restricted: 4,738,625
Float: 1,350,065,929

The saga of MPTV:

This is simply one of the most incredible pennystock survival stories I have
ever heard of. By all rights, MPTV should have gone bankrupt about 3 years
ago. About 4 years ago, they had actually started to remodel the Lake Trop
Apartments, getting ready to sell timeshares. At the same time, in two
locations in California, they had actually started selling timeshares,
interval by interval.

But once again, money (or should I say, lack of money) got in their way. A
Las Vegas billionaire businessman, Joseph Gould, lent money to MPTV to build
timeshares. However, when MPTV ran out of money, the additional money
promised by Mr. Gould, never came. He went back on his agreement to fund the
additional money. The building of the timeshares came to an abrupt halt.

Mr. Gould then tried to take the property away from MPTV. However, MPTV then
did a paper transfer of ownership to CRE (a subsidiary of MPTV). CRE then
turned around and put the property in the name of All Star Resorts, owned by
Ralph Mann. Then began a remarkable series of court hearings, including 4
extensions granted by the judge, as both sides fought for that property.
Before the court hearings were concluded, Mr. Gould died. In the end, MPTV
won. The Lake Trop Apartments remained in their control.

Unfortunately, MPTV won the battle, but not the war, because they found
themselves right back where they started -- no money. A partnership between
CRS (another subsidiary of MPTV) and All Star Resorts was formed on 6-4-1999:
"Lake Trop LLC." All Star Resorts owned 51%. MPTV owned 49%. Andras Babero
(the attorney for Ralph Mann who owned All Star Resorts) then arranged a $7+
million dollar bridge loan with Del Mar Mortgage out of Las Vegas.

The Late James Vellema (former owner of MPTV) embarked on a series of
wheeling and dealing, trying to find a JVP (Joint Venture Partner) to fund
their timeshare resort. MPTV came so close to finding funding with several
entities, including the Marriott Hotel and the Polo Towers just to mention a
couple. There were a few times the paperwork was all but signed, sealed and
delivered. However, James Vellema pulled out because the deal would have
basically left MPTV will almost no control of the property. Mr. Vellema
simply could not do this.

They went through one financing company and jvp after another, but no luck.
Just when it seemed MPTV was doomed, another light at the end of the tunnel
would appear, only to be extinguished yet again. For the shareholders, it was
torturous.

Link to recent Press Releases: Yahoo! - MPTV Inc Company News
http://biz.yahoo.com/n/m/mptv.ob.html

There was yet another sticking point for MPTV. That LLC they formed with All
Star Resorts. In order to proceed, MPTV had to find a way to get Ralph Mann
out of the
picture. In other words, they had to find a way to get Ralph Mann to sell his
51% of the LLC to MPTV. For over a year, MPTV tried everything. They offered
him so many different deals, ranging from offering a ton of shares; to cash
and shares; to a portion of the profits from each timeshare interval, as well
as shares. But with each offer, Ralph Mann wanted more and more. He flat
drove the people at MPTV, as well as the principal funders crazy.

Finally, on October 12, 2000 MPTV announced via a pr that they had finally
come to an agreement to buy out Ralph Mann, but the details were not
announced. With Ralph 'apparently' out of the way, MPTV was free to
vigorously pursue the money they needed to fund the timeshare project.

Back in June, 2000 I believe, MPTV and Oxford International (a middleman for
companies looking for financing) announced a LOI (Letter Of Intent) for a
$52,500,000 construction loan. Then in October, a final walk through was
scheduled at the property by Oxford and MPTV, in anticipation of the final
loan closing. It has been at this stage ever since. No one is quite sure if
Oxford is going to loan them the money, or not.

However, a surprise pr was released on 11-2-2000 announcing that MPTV and
Remington Financial Group out of Arizona had signed a loan commitment for
additional funding of $15,000,000. It was supposed to close on 12-15-2000,
but it was put off until 1-9-2001 (this next Tuesday).

Then on 12-14-2000, another pr came out about Remington. This is where it
gets very interesting. Here is a portion of that pr:

"NEWPORT BEACH, Calif., Dec. 14 /PRNewswire/ -- MPTV, Inc. (OTC Bulletin
Board: MPTV - news), a Nevada corporation, announces today, at the request of
Remington Financial Group, Inc. of Scottsdale, AZ, that MPTV has agreed to
reschedule the December 15, 2000 Phase 1 loan closing to January 9, 2001 to
continue to pursue the acquisition of a major timeshare company. Remington
has agreed to fund this acquisition, in addition to the already committed
Phase 1 loan."

What?! MPTV is now attempting to acquire a major timeshare company? Yes,
they are. It has become obvious to many who closely follow this company that
MPTV has been a lot busier behind the scenes than anyone had even considered.
Here is another statement in the same pr:

"James M. De Masi of Remington Financial Group, Inc. stated, ``For us, this
is not a commercial loan decision, it's more of a business strategy. We want
to gain control of the target company and to do so, it is not necessary to
have already funded MPTV's Phase 1 construction loan. We have asked to
reschedule the closing date to January 9, 2001 to give MPTV an opportunity to
complete the acquisition process. With a successful acquisition, we should be
able to lower some of the costs associated with our Phase 1 loan to MPTV.''

The wording of this particular statement seems to suggest that this is more
than just a financing loan. This suggests that MPTV and Remington are
actually in this together. It is also known through MPTV's IR firm that
Remington is willing to fund an additional $40,000,000 for this project,
bringing their total to $55,000,000. Does this replace the Oxford loan, or is
this in addition to the Oxford loan? No one is quite sure. Also through the
IR firm, the phrase "Global presence in the timeshare business" regarding
MPTV's intentions has been made very clear on several occasions.

However, from that same pr, here is the one thing that all shareholders have
been wanting to hear:

"MPTV will close its loan with Remington on January 9, 2001 and receive the
committed funds to begin Phase 1 construction of the Lake Tropicana Timeshare
Project."

In other words, there doesn't seem to be anymore "letters of intent," or
"loan agreements," etc., etc. This appears to be very specific. MPTV "will"
close its loan with Remington on January 9, 2001..."

Also posted on the MPTV board on Raging Bull is an email from Serena (IR
Firm) that she is flying to California this next week for a seminar, and to
meet with Hurley Reed. Is the timing of this 'visit' just coincidental, or is
there some kind of a victory celebration planned?

Based on all information available, it 'appears' that MPTV is actually going
to pull this off. In addition, if all the other items come to fruition
(acquisition of a major timeshare company; Global timeshare plan, etc.),
along with some rumors floating around, such as the 'possibility' that an ex
Disney executive who used to run their timeshare business, may be coming on
board (or may already be unofficially on board), MPTV may very well be one of
the biggest surprises of 2001. Reminder: At this point, the ex Disney
executive coming on board is just a rumor, but a rumor that persists.

Anyway, in a nutshell, this is basically the story of MPTV. As always,
investing in any penny stock is risky to say the least. So before you invest
in MPTV or any company, make sure you do your research, and invest only if
you feel comfortable and have money you can afford to lose.

DD-Pros.com has no position in MPTV and has received no compensation of any kind for this profile. DD-Pros.com makes no recommendations to either buy or sell MPTV or any other stock included on our websites. This is simply a gathering of information from public records for your use. Good Luck with your investing


(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)