InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,048.42
(
-0.46%
)
US TECH 100
17,162.80
(
0.60%
)
Dow Jones
38,085.80
(
-0.98%
)
Brent Oil
88.14
(
-0.02%
)
Bitcoin
64,290.30
(
-0.30%
)
Post# of 5044
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Keep Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

baldwinj

Send PM Follow Ignore
Followers 1
Posts 74
Boards Moderated 0
Alias Born 01/10/2001

baldwinj

Member Level

Re: sentsyst post# 1789

Tuesday, 06/26/2001 8:18:24 AM

Tuesday, June 26, 2001 8:18:24 AM

Post# of 5044
MPTV Closes on Re-Financing Its Mortgage on Lake Trop Property
Jump to first matched term

IRVINE, Calif., June 26 /PRNewswire/ -- MPTV, Inc. (OTC Bulletin Board: MPTV), an innovator in Timeshare Resort Development, today announced that it has closed on the re-financing of its Lake Trop Property's mortgage.

"We've closed the deal and the previous mortgage has been completely refinanced. We are very excited to have achieved this milestone. MPTV has moved forward in this most important first step. The benefits to MPTV are numerous. Our monthly cash flow has improved considerably. We are now ready to pursue the next milestones in our growth, including Phase I of Lake Trop and our targeted acquisition. It's been a pleasure working with the financiers on this project and we will look forward to continuing a fruitful relationship with them on our upcoming expansion projects," stated Hurley C. Reed, CEO of MPTV.

"The closing of this re-financing will enable MPTV to continue the process of securing financing of the Lake Tropicana Property and enhance the completion of the acquisition," said James De Masi.

"MPTV has ambitious expansion plans and we plan to be here to help service their financing needs. It's great to work with folks who stick to their commitments to get the right deals done," added Howard Seidman of Bolton Capital.

About MPTV, Inc.

MPTV develops and markets timeshare resort properties. The Company's principal asset is a multi-million dollar resort property called Lake Tropicana. MPTV's current project is the Lake Tropicana Timeshare Resort and Towers (www.laketropmptv.com) located in Las Vegas, Nevada between the MGM Grand Hotel/Casino and the Aladdin Hotel/Casino on the "strip" and the Hard Rock Cafe on Paradise and Harmon Avenue. The "Harmon Corridor" is undergoing transformation with two new casino hotels and three large timeshare projects planned for this area.

Shareholder Contacts: Serena Riedel, RealSense.com Investor Relations, Email MPTV@realsense.com, Shareholder Calls: 603-685-6000 or 603-890-1373.

Laurel Moody, Vision Consulting, Email laurel@visioncc.net, Calls: 212-484-5313.

This press release contains forward looking statements within the meaning of the "safe-harbor" provision of the Private Securities Litigation reform Act of 1995 about the Company's financial condition and business prospects that involve substantial risks and uncertainties. You can identify these statements by the fact that they use words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning in connection with any discussion of future operating or financial performance. Among the factors that could cause actual results to differ materially are the following: failure to reach definitive agreements with potential acquisition candidates; failure to find attractive acquisition candidates; increases in interest rates; a decline in the Las Vegas real estate market or the timeshare market in general; and general economic conditions in the United States. A further list and description of these risks, uncertainties and other matters can be found in the Company's Annual Report on Form 10-KSB for the fiscal year ended December 31, 2000 and in its periodic reports on Forms 10-QSB and 8-K (if any). These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof. The Company disclaims any intent or obligation to update these forward-looking statements.

MAKE YOUR OPINION COUNT - Click Here http://tbutton.prnewswire.com/prn/11690X68736545

SOURCE MPTV, Inc.

/CONTACT: Serena Riedel, Investor Relations of RealSense.com,
603-685-6000, or 603-890-1373, MPTV@realsense.com, or Laurel Moody of Vision
Consulting, 212-484-5313, laurel@visioncc.net, both for MPTV, Inc./

/Web site: http://www.laketropmptv.com/

(MPTV)


Public Reply Private Reply New Post
Keep Last Read
Keep Last Read Next 10 Report Keyboard Shortcuts
Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up