INVESTOR UPDATE:

September 3, 2009
 
Finally we seem to be getting some good news on the financial front.
Most of the pundits have declared the recession over as of August 2009.
Let's hope so.

Laughlin Ranch's emergence from Bankruptcy is a very positive thing for
the area and should help El Rio, as well, with perceptions that our area
is coming out of the recession.

Laughlin Ranch Emerges from Bankruptcy

Our club will re-open on October 9th, as scheduled, and we are working
toward attracting additional play on the course.

March 1, 2009:  Update El Rio Restructure

Congress finally has passed the stimulus bill of 2009.  The bill provides some incentives for new home buyers but the Senate version of the bill, which was very favorable, was significantly reduced in committee between the House and Senate.

The stimulus provides for a federal tax credit of $8,000 for those purchasing their first home prior to December 31, 2009.  Unfortunately the bill only applies to first time home buyers and not investors or people who have been foreclosed out of their homes.  The details of how the program is to work are forth coming per H.U.D., which evidently will be overseeing the program.

On February 18, 2009 the President unveiled his new housing stimulus plan and also his proposed aid to those facing foreclosure.

The plan calls for $275 Billion in aid to housing; $200 Billion of which will be given to the ailing Fannie Mae and Freddie Mac programs to try and spur lending on mortgages and free up money for construction.  The details of the plan are very preliminary and the bill needs to wind its way through Congress before we will know its final complexion.

Sales at El Rio have continued to slow and traffic has been reduced of late.  We have not written any contracts for several months now.  The uncertainty and fear prevalent with our visitors is severely hampering decisions to buy.

We shall remain optimistic that the Government plans will stimulate a renewed interest in housing and our area should be on the forefront of any rebound.

We are continuing to receive acceptance of our restructure proposal.  Please, those of you who are sitting on the fence, the time to act is now if we are going to weather this most difficult market.  Please send in your paperwork now so we can finalize the plan of restructure.

INVESTOR K-1 FORMS: 

The accounting department is in the process of preparing and mailing each investor their K-1.  The goal for this department is to have all K-1’s mailed prior to March 31, 2009.  The first mailings regarding the Mariposa projects were sent the first week in February.  With the mailing of your K-1 you will receive a personalized update from John Hoover.

INVESTOR UPDATES: 

We are endeavoring to update each project on a quarterly basis.  Investors are encouraged to click on the respective projects in which the investor has an interest for the latest available update information.