Nhra and the cash cow

[Larry Hill]

NHRA 1993 tax return shows a sale of 4,485 shares of 20th Century Industries on March 25, 1993 at the sales price $147,549.00 the cost of the 4,485 shares is listed at $62.00 , yeilding a profit of $147,487.00

On April 21, 1993 NHRA sold an additonal 25,000 shares of 20th Century Industries for $761,222 at a cost of $347.00 at a profit of $760,875.00

Lets do the math 29,485 shs Sale Price $908,771

Cost $409

Profit $908,362


More later, its bed time and I have to go to work tomorrow.

[Larry Hill]

This information is from the 1992 tax return:

National Hot Rod Association: Federal ID No. 95-1686172 ; State ID No. D- 0252349; Reg. of charitable Tr. I.D No CT- 25213; year ended Dec. 31 1992

Form 990 - Part IV - line 50

Receivable From Officer:

Name and Title: Dallas J. Gardner President

Original Amount: $ 100,000

Balance Due: $75,000

Date of note: Dec. 7, 1990

[Larry Hill]

The rest of post no. Two
Maturity Date: Dec 15, 1994

Repayment terms: $25,000 annually due each Dec 15th, beginning Dec 15 1991

Intrest Rate : "Non-Intrest Bearing"

Security Provided by Borrower: Real Property

Purpose of Loan: Cash Flow And Liquidity Loan

Considideration Furnished by The Lender: Cash -$100,000

[Jack Matyas]

Larry -- This isn't great bedtime reading but interesting nontheless -- are we going to get this in installments ( no pun intended ) or are you going to just tell us if he repaid the loan ? And when .....

[Larry Hill]

Jack after working all day, then working on the car, it does not leave a lot of time for my two fingers to bang on the keys.

Gardner did make his payment in 1993, the part that bothers me is the "Non-Interest Bearing" loan. I wonder how much of NHRA assets are avable to us just in case we need a loan due to "Cash Flow And Liqudity"

[X-TECH MAN]

You will NEVER get any "UNITY" either. Just reading this forum will tell you that.