a. $55 million purchase of property appraised at $90 million- yes you read that right $90 million
b. $25 Property Improvement Program to the rooms and other sports-related needs (more soccer fields, improvement to the golf course, basketball courts for new Academy, etc) and able to do development of property and marina- houses for the families of the athletes like they did at IMG.
c. $15 million Working capital reserve fund from Feenix which has funded them before.
Note- I'm going to trust the DD of those companies. This deal was signed April 25 and took 5 months to close. I would say EXTENSIVE DD was done by these companies of the business model and property when they are putting up $95 million.
3. Largest Soccer club in the WORLD Rush Soccer https://rushsoccer.com/ partnered with them- I'd trust their DD too. Potential schools at their clubs (with education today more families are looking for alternatives). Rush is so active on social media and marketing the school and the Programs
6. All of the revenue goes to $ALTD from the hotel. How do we know this? Look at the Wyndham contract. $ALTD pays them a percentage of the revenue. Simple. Also, $ALTD saves $1 million they were paying Club Med as they now own/operate the property. They are paying themselves
7. The IR Firm MZ Group - https://www.mzgroup.us/testimonials/ If Hutton is gone why use a firm they work with on their underwriting? Look at their client base. Do you think they would represent a stinky-pink or a company that is represented by NYSE and NASDAQ companies? They are not going to risk their reputation for 1 paycheck. In IR your reputation is everything.
8. Finally let's do a miscellaneous tab of various other subsidiaries-
a. Altitude Wellness Centers- With the purchase of the property they will be able to install the wellness center with Altitude Chamber, Cryo, Hyperbaric Chamber, Infrared Sauna, and other health benefits that will be open to the public and also facilitate Chamber sales.
b. Altitude On-Line Learning- This subsidiary is set up for a reason
c. Altitude Water- With the crisis in the water sector this subsidiary is in a perfect place to capture the market.
d. Adding Academies- Now can add basketball, swimming, sailing, arts, music, etc
e. Training facility for sports teams and clubs- previously they could not work with Club Med and only brought 5 soccer clubs- Washington Spirit, FC Miami, and three South American soccer clubs. Now the sky is the limit.
Don't think these companies that put up $90 million didn't do DD on all of this.
Finally a stinkypink doing what 1,000s of companies have promised but never achieved. And its all in an 8K- not a PR. Congrats $ALTD