Replies to post #3817 on NightCulture Inc (fka NGHTD)

[General_Sevier]

Will save you the trouble on Stereo Live and Richmond building.

NGHT obtained Stereo from it's main shareholders and officers in May 2012 for 2 shares and covering all obligations the prior owners had.

"In May 2012, we expanded our operations to include live venue operations with our acquisition from our principal shares of Stereo Live, LLC, operator of a 25,000 square foot live event venue in Houston, Texas. As consideration for Stereo Live, we issued two shares of common stock."

The only "property" NGHT claims as having is the Stereo Live building on Richmond. That is also their HQs.

They entered into a 5 year lease in July 2012 on that building.

"Our executive offices are housed at our Stereo Live venue located at 6400 Richmond Avenue, Houston, Texas. The Stereo Live venue is a 25,000 square foot live event venue located on 2½ acres and is leased from a third party, the current term of which expires in July, 2017."

"On July 26, 2012, the Company entered into a five year lease for its properties. Future minimum lease payments under the non-cancellable operating lease is $348,000 for the year 2013, $348,000 for 2014, $348,000 for 2015, $348,000 for 2016, and $333,500 for 2017."

BTW, also dug up something on the Dallas acquisition. They owe the two main persons 30% of "event profits" on all Dallas shows. Event profits are defined but they are limited to direct revenue and expenses to the event and don't include corporate O/H etc.