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ny boat show/ filthy fountains

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Old 01-06-2007, 08:02 AM
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Old 01-07-2007, 07:17 PM
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Default Re: ny boat show/ filthy fountains

I ended up making the trip to the show and all boats looked very nice. I didn't see anything wrong with the foutains, in fact they looked awesome. After seeing the pics of the ICBM on the fountina website I didn't think I would like it but in person it is a very nice looking boat. Everyone at fountian's both was great including Reggie!!! The Cig there was one hell of a good looking boat too. I will post some pics tomorrow...
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Old 01-07-2007, 08:26 PM
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Awww, my buddy Ripem making more friends on OSO!
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Old 01-07-2007, 08:34 PM
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They all looked clean to me.
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Old 01-07-2007, 08:57 PM
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Default Re: ny boat show/ filthy fountains

Quote:
Originally Posted by RaggedEdge View Post
Quite possible that you do. Checked out Yahoo financal site, Merc / Brunswick Corp. shows no ownership position in any data on the Yahoo site. They do list major insider owners as well as major financial instutions owning major blocks of stock, no mention of Brunswick.

Rumor had it several years back that FPB was into Brunswick pretty deep and some arangement was worked out in terms of debt vs ownership/control, but nothing on the Yahoo site, that I can find, backs that up. Possibly converted to some form of investment loan, not sure. Maybe our buddy axapowell, financier extroardinare, can find more thru his sources. Rumor also had it that Brunswick was interested in adding FPB to its "family" of boat companys.

FYI curently trading @ $4.35, projected to go to $5.00, and ranked as a "buy". The listing symbol is "FPB".

Maybe if someone cleaned up the show boats the ranking could be changed to a "strong buy".
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There actually is some factual content but the details i am not sure of either. I do know that the number in the public boat manufacturing arena was around a $75 million line of credit per say. Who knows all the real details other than it sure did make the race for marketing brilliance to continue. I am never a hater and have owned a fountain and got in one to possibly buy on Friday, all I can say is that Reggie may be hated but he is a lover of the sport and he cracks my chit up when he was willing to split his boat in half during the sotw run with his son on throttles and scott s. at the wheel in a stock pleasure boat with 525's and bravos chasing a 47 gtx with 6's and 1075's. Rumor has it, did one heck of a job with the deck stacked against them too. Back to the griping, sorry for my .02
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Old 01-12-2007, 12:07 AM
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Maybe our buddy axapowell...
I found this in Fountains 1995 first quarter 10-Q (a quarterly report listed companies must file with the Securities and Exchange Commission). A little dry to read, but it does show an “agreement” between Brunswick and Fountain. This is not my opinion nor does it represent any investment advice from me on this public forum. If you have access to the company’s 10-Q, you will find this on page 15………Dave


Financial Condition.

The Company's cash flows for the first nine months of Fiscal 1995 are summarized as follows:
Net decrease in cash........................$ (147,950) This net decrease compared to a $680,506 net decrease for the first nine months of the prior fiscal year. Cash used in the first nine months of Fiscal 1995 to acquire additional property, plant, and equipment (investing activity) amounted to $903,934, of which $550,923 was for plugs, molds, and other product tooling. For the remainder of Fiscal 1995, the Company expects to generate sufficient cash from operating activities in order to meet its obligations. Management believes that the Company will continue to operate profitably for the remainder of the fiscal year. Pursuant to an agreement dated February 24, 1995, among the Company, Mr. Fountain, and the Mercury Marine Division of the Brunswick Corporation, until the Company has paid its indebtedness to Mercury in full, it is required to purchase all of its requirements for engines and certain other items from Mercury. Mercury Marine agreed to pay the Company for certain consulting services provided by Mr. Fountain and for appropriate endorsements for Mercury's products. Mercury Marine has established a purchasing line of credit and a variable term loan for the Company which is secured by a subordinated lien on the Company's assets and a pledge by Mr. Fountain of substantially all of his shares of the Company's common stock. During the third quarter, MetLife Capital Corporation agreed to amend the Company's financial ratio requirements. The Company is now in compliance with the new MetLife financial ratio requirements. The Company has made timely payment of all amounts owed to MetLife and none of the indebtedness is in arrears.
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Old 01-12-2007, 12:51 AM
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July 2003, taken from the SEC (Securities and Exchange Commission) filings Form 8-K:

Item 5. Other Events and Regulation FD Disclosure
On July 17, 2003, we and our operating subsidiary, Fountain Powerboats, Inc. (“FPI”), entered into an $18 million secured, long-term financing arrangement with Bank of America, N.A., the proceeds of which are being used by FPI to refinance existing long-term debt, pay current liabilities, and provide additional operating funds. FPI’s obligations under the credit facility are secured by certain assets of FPI and our
President, Chief Executive Officer and majority shareholder, Reginald M. Fountain, Jr. FPI’s obligations are guaranteed by us and Mr. Fountain and by Brunswick Corporation (“Brunswick”), a division of which supplies marine engines used in FPI’s products. In related transactions, we have entered into an agreement with Brunswick under which it will supply to FPI, and FPI will purchase from it, during the term of the agreement, all of FPI’s requirements for marine engines and other power components used in boats manufactured by FPI. We and Mr. Fountain also have given Brunswick certain rights to purchase, in the future, shares of our common stock (generally at a price
to be determined at the time of exercise) that could amount to a controlling interest. Those rights do not become exercisable until the earlier of July 1, 2007, or the repayment in full of FPI’s obligations under the financing arrangement. To the extent that Brunswick’s obligation under its
guaranty exceeds $14.7 million, Mr. Fountain has pledged his shares of our common stock to Brunswick as additional collateral.
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