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Tuesday, 08/28/2001 8:10:22 AM

Tuesday, August 28, 2001 8:10:22 AM

Post# of 5044
MPTV Receives Loan Commitment For $12.7M For Phase I Construction

Irvine, CA, August 28 2001 -- MPTV, Inc. (OTCBB: MPTV), an innovator in Timeshare Resort Development, today announced that it has received a loan commitment for $12.7 million, an increase from the original $11.5 million amount specified in the term sheet. The loan commitment is subject to satisfaction of lender requirements and the final appraised value of the property. When closed the proceeds will be used for Lake Trop's Phase I project, to renovate existing apartments for sale as timeshare units.

"The lender has made a written commitment to MPTV to fund the Phase I construction for the Lake Trop property. The exact amount of the funding to be delivered will depend upon the appraisal that is underway. This is a significant step in the process of closing the right deal for MPTV. We continue to look forward to an expedited schedule for finalizing the appraisal and the loan closing," stated Mr. Howard Seidman of Bolton Capital.

"This was the next step in the process that we were looking for from this lender. The lender will raise the proposed $12.7 million loan amount in proportion to the increase in the value of the new appraisal," stated Mr. Hurley C. Reed, CEO of MPTV.

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: Laurel Moody, Vision Consulting, Email laurel@visioncc.net, Calls: 212-484-5313.
Serena Riedel, Email: serenariedel@aol.com.

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.
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