The PennyShac

[Mr. Bill]

SKYL. 2.095M OS. 1.4M Float. EPS .08 last 6 MTHs. Sales up 20-40%
PENDING PRs due out soon with increased advertising campaign?

Bid and ASK upticks today. 12% of FLOAT BOUGHT today. NITE moved onto BID boxing at EOD.

Spring/Summer is BIG season. MARCH release of Revamped Ride.
EMPIRE STATE BUILDING. Upcoming CORPORATE SPONSORSHIPs and
Advertising to create additional revenues and market exposure.

SuperNice WebSite: http://www.skyride.com/index2.cfm
"This is the BRAND NEW NEW YORK SKY RIDE at the Empire State building"

http://www.gonow.com/research.html?ticker=skyl
IR CONTACT: Ron Aghassi [phone] ext. 208
Ron Aghassi - VP/SEC/CT [e-mail]

Rick Brenner ( PR/CEO ) P1: [phone]
FX: [phone] EM: [e-mail]

TRANSFER AGENT:
Continental Stock Transfer & Trust Co. [phone] New York, NY

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001013762%2D03%2D000027%2Etxt&FilePath...
Our business is seasonal in nature, based in part, on higher volumes of tourists in the New York City Metropolitan area during the spring and summer months and during the December holiday season.

The basic and diluted net income (loss) and earnings (loss) per share available to common shareholders was $2,000 and $.00 for the three months ended December 30, 2002 and $174,000 and $.08 for the six months ended December 31, 2002

For the six months ended December 31, 2002 and 2001, our New York Skyride facility was visited by approximately 338,600 and 281,600 customers, respectively. For the three months ended December 31, 2002 and 2001, our New York Skyride facility was visited by approximately 149,500 and 106,200 customers, respectively. [Note: this was a 20% and 40% increase]

Our revenues have been generated primarily from ticket sales for New York Skyride with additional revenues generated from the sale of food, beverages and souvenir merchandise. We are also seeking to enter into corporate sponsorship and advertising arrangements with certain consumer product companies to provide additional revenues and marketing exposure.

In addition to the foregoing, we are concerned that certain portions of our film containing views of the World Trade Center are inappropriate because of the September 11, 2001 attacks. As a result, we have commenced the process of editing our film to remove such portions of the film, as well as changing the projection system currently used, which we anticipate will cost us approximately $850,000. We expect this to be completed by March 2003.