Sarasota poker run "Cat Killer" Fountain, got spanked
10-05-2008, 07:45 AM
#52
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Hard to believe they would do this with the following hanging over their head-
Fountain independent accounting firm, Gregory & Associates, included a letter in the boatbuilder’s Sept. 29 annual report that raised doubts about Fountain’s ability to stay in business.
“The company has current liabilities in excess of current assets, recent losses from operations, negative cash flows from operating activities, and has significant debt compared to the underlying equity,” the accounting firm said in the Sept. 16 letter accompanying Fountain’s annual report.
“These factors raise substantial doubt about the company’s ability to continue as a going concern,” the accounting firm said.
Fountain independent accounting firm, Gregory & Associates, included a letter in the boatbuilder’s Sept. 29 annual report that raised doubts about Fountain’s ability to stay in business.
“The company has current liabilities in excess of current assets, recent losses from operations, negative cash flows from operating activities, and has significant debt compared to the underlying equity,” the accounting firm said in the Sept. 16 letter accompanying Fountain’s annual report.
“These factors raise substantial doubt about the company’s ability to continue as a going concern,” the accounting firm said.
10-05-2008, 09:12 AM
#54
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Good job guys, hope to see you at the "Worlds"
Sounds like you guys had a blast, the motors in the three boats were a bit different that you suspect.
The "Cash Killer" has Sterling 1550's.
The "Rio Roses" boat has 750HP Super Cat Motors.
The 42 Poker Run (open canopy) boat running behind you had Mercury 1075's.
LUBE JOB QUOTE - "Reggie showed up with both cat killer boats, full race crew, helmets, jackets, helicopter etc".
As fast as you were going I feel Helmets, Oxygen and jackets should be worn. "If" something happened at least they would be having breakfast talking about it. Wish more events would require safety equipment over certain speeds, we have had to many casualties because we have not taken time to prevent them.
Hope to see you at the "Worlds" in November
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
The "Cash Killer" has Sterling 1550's.
The "Rio Roses" boat has 750HP Super Cat Motors.
The 42 Poker Run (open canopy) boat running behind you had Mercury 1075's.
LUBE JOB QUOTE - "Reggie showed up with both cat killer boats, full race crew, helmets, jackets, helicopter etc".
As fast as you were going I feel Helmets, Oxygen and jackets should be worn. "If" something happened at least they would be having breakfast talking about it. Wish more events would require safety equipment over certain speeds, we have had to many casualties because we have not taken time to prevent them.
Hope to see you at the "Worlds" in November
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
Both Fountains looked very similiar. Both closed cockpit boats with bog power (not 1075's). It was not rough but it was very far from smooth as glass. It was probably 2 to 3 for most of the run. The only steering problem the fountain had was when he steered back into the other direction after we ran away from him the third time. Fountian was actually the joke of the noght at the party. An announcement was made to Reggie (which couldn't be there), he was thanked for coming to the run with his boats even though he honly ran them for 8 minutes! I think the Poker runs America home page will have something on it tomorrow.
10-05-2008, 09:15 AM
#55
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Gino might have just put Fountain out of biz, you know they wanted some new video of them outruning everybody for the up comming boat shows so they can run it on a loop all dam day, I'm sure it didn't cost too much to send all those people and a chopper there for nothing. Great job Gino somebody needed to rub their nose in it.
10-05-2008, 09:35 AM
#56
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Sounds like you guys had a blast, the motors in the three boats were a bit different that you suspect.
The "Cash Killer" has Sterling 1550's.
The "Rio Roses" boat has 750HP Super Cat Motors.
The 42 Poker Run (open canopy) boat running behind you had Mercury 1075's.
LUBE JOB QUOTE - "Reggie showed up with both cat killer boats, full race crew, helmets, jackets, helicopter etc".
As fast as you were going I feel Helmets, Oxygen and jackets should be worn. "If" something happened at least they would be having breakfast talking about it. Wish more events would require safety equipment over certain speeds, we have had to many casualties because we have not taken time to prevent them.
Hope to see you at the "Worlds" in November
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
The "Cash Killer" has Sterling 1550's.
The "Rio Roses" boat has 750HP Super Cat Motors.
The 42 Poker Run (open canopy) boat running behind you had Mercury 1075's.
LUBE JOB QUOTE - "Reggie showed up with both cat killer boats, full race crew, helmets, jackets, helicopter etc".
As fast as you were going I feel Helmets, Oxygen and jackets should be worn. "If" something happened at least they would be having breakfast talking about it. Wish more events would require safety equipment over certain speeds, we have had to many casualties because we have not taken time to prevent them.
Hope to see you at the "Worlds" in November
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
10-05-2008, 09:51 AM
#58
Registered
As fast as you were going I feel Helmets, Oxygen and jackets should be worn. "If" something happened at least they would be having breakfast talking about it. Wish more events would require safety equipment over certain speeds, we have had to many casualties because we have not taken time to prevent them.
Hope to see you at the "Worlds" in November
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
This is true and there should be speed limits at poker runs and if ya wanna race, time to go join a racing orginization
Gino has raced and poker i would like to see gino get into the hunt and campain on the race circut
Only problem is now is the time the racing orginizations get there act together so the fast poker runners will want to come and compete Racing has an oppertunity right now to capitalize on this stop the fractions and fighting and encourage the fast poker runners to come race
10-05-2008, 10:14 AM
#59
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Haulin A--, Having Fun & Being Safe
It would be great if racing was like it use to be, one or two great organizations to put on great shows for consumers and spectators. I guess if you want to be like NASCAR, you have to act like NASCAR. Good racing would be great for our industry and potential boat sales. Yes, there are alot of race boats that can't run with poker run boats but regardless accidents don't always happen because people are racing. There have also been alot more deaths in poker runs and pleasure boating than races and it's usually becasue the poker run or pleaseure boat was not equipped with safety gear equivlant to the power and speed of the boat they are in. Even in MIATA Club Spec racing we are now required to wear HANS devices, 6 point harness and NASCAR Cage, all for a car that barely runs over 100MPH. If you're going fast, you're going fast and things can happen as good as all these poker runners and racers are. This however should not impair the safety concerns we need to have for these events. I have no objection to wearing the proper gear and other if it meant saving my life and seeing my kids when I get home. What I would really like to see is more grass root type runs. I feel consumers are intimdated to bring there 25' plus 70MPH boats to these events. They're supposed to be fun get togethers with people that have a common interest. As a dealer I feel this is what ultimately sells boats. There are alot of people on this board that like to comment on subjects and pull for a certain manufactures which is the life blood of this industry and business. The only difference I see between the poker run boats and race boats is a piece of glass tops on top of them, oxygen, high speed/impact jackets and intercoms. In fact, alot of poker run boats exceed race boats in cost, HP and speed.
Lets not get off track. GINO, if you outran the "Cash Killer" you outran the "Cash Killer", hats off to you.
I personally have never been embarrased to be out run by a cat, v-bottoms (that's another story).
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
Lets not get off track. GINO, if you outran the "Cash Killer" you outran the "Cash Killer", hats off to you.
I personally have never been embarrased to be out run by a cat, v-bottoms (that's another story).
Regards,
Team Shogren
www.chicagofountain.com
Fountain & Baja By Fountain
This is true and there should be speed limits at poker runs and if ya wanna race, time to go join a racing orginization
Gino has raced and poker i would like to see gino get into the hunt and campain on the race circut
Only problem is now is the time the racing orginizations get there act together so the fast poker runners will want to come and compete Racing has an oppertunity right now to capitalize on this stop the fractions and fighting and encourage the fast poker runners to come race
Gino has raced and poker i would like to see gino get into the hunt and campain on the race circut
Only problem is now is the time the racing orginizations get there act together so the fast poker runners will want to come and compete Racing has an oppertunity right now to capitalize on this stop the fractions and fighting and encourage the fast poker runners to come race
10-05-2008, 10:16 AM
#60
chuckbeecher
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Hard to believe they would do this with the following hanging over their head-
Fountain independent accounting firm, Gregory & Associates, included a letter in the boatbuilder’s Sept. 29 annual report that raised doubts about Fountain’s ability to stay in business.
“The company has current liabilities in excess of current assets, recent losses from operations, negative cash flows from operating activities, and has significant debt compared to the underlying equity,” the accounting firm said in the Sept. 16 letter accompanying Fountain’s annual report.
“These factors raise substantial doubt about the company’s ability to continue as a going concern,” the accounting firm said.
Fountain independent accounting firm, Gregory & Associates, included a letter in the boatbuilder’s Sept. 29 annual report that raised doubts about Fountain’s ability to stay in business.
“The company has current liabilities in excess of current assets, recent losses from operations, negative cash flows from operating activities, and has significant debt compared to the underlying equity,” the accounting firm said in the Sept. 16 letter accompanying Fountain’s annual report.
“These factors raise substantial doubt about the company’s ability to continue as a going concern,” the accounting firm said.
Congrats Gino!!!
Last edited by chuckbeecher; 10-05-2008 at 10:18 AM.
