Looks like you can buy a piece of Seminole

Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

On Wednesday, August 5, 2020 at 2:01:48 PM UTC-4, wrote:
Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

Please explain to me how you can service a 3 million debt load with the revenue from a facility like SLGP, I did learn a little bit in grad school.
I have changed the name from Seminole Lake Glider Port to Straight Line Glider Port, they don't fly many triangles, just up and down hwy27. Bob

Every day of The Seniors was a 300+k polygon

On Wednesday, August 5, 2020 at 11:17:13 PM UTC-4, wrote:
Every day of The Seniors was a 300+k polygon

3-9 144 fai-KM
3-10 58
3-11 271
3-12 325 Triangle distance Ken S. nice triangle
3-13 235
3-14 196
3-15 234
3-16 6
3-17 128
From OLC triangle distance daily scores.

They were not playing OLC. Or Condor.

On Wednesday, August 5, 2020 at 2:01:48 PM UTC-4, wrote:
Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

Karen, Rip-roaring is a very subjective term. It was "sporadically" rip roaring while I was there but much of the time there was stagnation. "Capacity utilization" is a measurement capable of being applied to most businesses to determine success. Rip-roaring is nice if it is sustainable. I would define rip-roaring as meeting all the operational cost and throwing off significant profit to match or exceed other forms of investments. Yes, even the stock market has its ups and downs but over time it achieves an 11 percent ROI. Is SLGP doing that?

The fact that as you say the money is just not being spent where it should be is very telling. (Don't let Rich hear you say that) I had to get real with the owner to order a mixture cable two weeks after it was requested. When I asked the "girls" when we might expect delivery they told me they didn't order it. The reason was unacceptable to me. Neglect can lead to serious consequences.

Yes, SLGP has potential but it needs proper and professional management. You cant hamstring a manager and expect things to run smoothly. Clif was about as close to a perfect manager as you can get, knows the business, can do it all. Guys like that need to be retained and retention means paying the piper. One cannot be expected to "look the other way" all the time.

Walt

On Wednesday, August 5, 2020 at 11:01:48 AM UTC-7, wrote:
Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

That is pure speculation. SLGP has not released any financials, let alone audited financials, whatsoever so we don't even know if SLGP has been profitable and for which years, or by how much. These are essential for any serious investor - omitting them means this is just a trial balloon to test how many suckers there are out there.

Tom

On Friday, August 7, 2020 at 11:25:04 AM UTC-4, 2G wrote:
On Wednesday, August 5, 2020 at 11:01:48 AM UTC-7, wrote:
Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

That is pure speculation. SLGP has not released any financials, let alone audited financials, whatsoever so we don't even know if SLGP has been profitable and for which years, or by how much. These are essential for any serious investor - omitting them means this is just a trial balloon to test how many suckers there are out there.

Tom

SLGP would not be obligated to release any financial information to anyone other than those buying in. Of course it would be most prudent to have on your side a Business/Real Estate lawyer and of course have your own accountant do a complete audit of the books to establish profitability. I would assume that one would be sharing in the profits at the end of the quarter/year commensurate with their percentage of ownership, perhaps along with the four percent dividend that Mihai guarantees? If NOT then in my Constitutionally protected opinion it would be stupid to purchase any shares. The real telling point will be how many shares RICH buys.

Walt

If you do not control anything how can you guarantee a return?

On Saturday, August 8, 2020 at 5:44:30 AM UTC-7, wrote:
On Friday, August 7, 2020 at 11:25:04 AM UTC-4, 2G wrote:
On Wednesday, August 5, 2020 at 11:01:48 AM UTC-7, wrote:
Hi Walt. From another former tow pilot. Seminole was doing a rip-roaring business until covid-19 hit. There's money being made there. It's just not being spent where it should be.

That is pure speculation. SLGP has not released any financials, let alone audited financials, whatsoever so we don't even know if SLGP has been profitable and for which years, or by how much. These are essential for any serious investor - omitting them means this is just a trial balloon to test how many suckers there are out there.

Tom
SLGP would not be obligated to release any financial information to anyone other than those buying in. Of course it would be most prudent to have on your side a Business/Real Estate lawyer and of course have your own accountant do a complete audit of the books to establish profitability. I would assume that one would be sharing in the profits at the end of the quarter/year commensurate with their percentage of ownership, perhaps along with the four percent dividend that Mihai guarantees? If NOT then in my Constitutionally protected opinion it would be stupid to purchase any shares. The real telling point will be how many shares RICH buys.

Walt

The very brief offering (sets a record for the shortest prospectus I have ever read) makes no mention of disclosing financials to prospective buyers, only a vague mention of a 4% rate of return. This, in itself, raises concerns: how can any business partnership guarantee a rate of return, especially in the very uncertain times we are in now? This is commonly done in closed-end funds by selling principle to generate cash payments to shareholders, but that would mean selling assets such as aircraft or hangars for SLGP. It sounds more like an aspiration than a guarantee. And then there is the bizarre statement that SLGP will follow all US laws as if that is optional. I strongly urge anyone who is interested in investing in SLGP demand to see audited financials (I doubt that any audit has been performed, but do not know), and unaudited financials should be viewed with a strong dose of skepticism.

Tom