before the RICK employees buy them out!
The partron tax was a tax on the patrons, not the business. If RICK collected tax they don't have to turn over to the State, then they need to refund it to the patrons. According to the CC transcripts, they seemed to be collecting tax all along ... or if someone paid a cover charge, that was the tax, because it was the law. So RICK needs to refund about $7M plus to the patrons. They will claim it soon .... watch!
Previous owner IR-Miami Garden Square LLC bought on 12/03/2014 for $12,303,100.
Sold to RCI Holdings, Inc. for $15,300,000.
Just look at the WSJ dated 6/11/2013: Management said it would complete REIT spin-off within six months.
With Iran deal, plunging oil prices will seriously hurt the Texas economy. Texas-heavy RICK faces dire prospects. Fact Texas floods hurt business shows one how dependent RICK is on Texas.
P.S. Did you see those swimming snakes in the flood waters? Yikes!!!
"Selected Data:" ... ?
As in: And our next call comes from AAA-Ball Capital Management:
"Hi Eric. Great job. I assume that whistling sound we're hearing has something to do with Bombshells, like an ad or something! I thought it was the financials at first, but nice sound effect ... you guys scared me!"
Miami-Dade County is really good about posting RE docs. on the net. If one looks at the mortgage, the lender wanted a lot of conditions and a personal guarantee. I would guess, back in late 2014, RICK couldn't get a loan.
Now the other thing is, only the Mortgage is recorded - not the Note, so there's no way to tell the loan terms. I bet you ... just another guess ... that the note is a ballon note. My crystal ball says interest is fixed for ... maybe three to five years ... seven years max? Then they will have to refinance.
That's a securities law violation. It's a very broad rule.
P.S. Same rules apply to companies making stock buybacks.
Don't listen to me ... according to RICK's 10-K they were collecting it from the customer: "Beginning January 1, 2008, the Company’s Texas clubs became subject to a new state law requiring each club to collect and pay a $5 surcharge for every club visitor."
You know there's a Jaguars in Phoenix. That means shareholders probably picked up 100% of the tab.
Face reality ... high operating costs are going to eat up all that supposed cash cow we keep hearing about!
"Pastor Creflo Dollar Will Get His $65 Million Luxury Jet" ...
That's the RICK goal!
Hi Hottie!! I thought that was you. I know secretgeek also. As you probably recall, prime and secretgeek used to correspond with each other all the time. Somehow, hottie was more restrained.
Hope you're doing well!