|
Purpose:
Acquisition of seven thoroughbred yearling colts,
as specifically identified in the Subscription
Agreement, for enjoyment and possible profit.
Term: The Partnership will commence on
the earlier of November 1, 2011 or when all units have been subscribed
and will terminate on December
31, 2013.
Capitalization: A total
of $2,500,000 to cover the purchase of the Horses
and all expenses not covered by operating income
during the Term.
Units:
A total of 100 units at a cost of $25,000 each. A unit represents
a 1% interest in the Partnership. Prospective
partners are required to reserve for purchase any number of the units.
Further, StablesOnline.com Inc., may elect to reserve and purchase
units. Units purchased are payable in full upon
signing the Partnership Agreement.
The Partnership will establish
a working capital reserve fund to cover all expenses
for the first twelve months' management of the
seven Horses. Thereafter, all expenses incurred
shall be deducted from capital reserve and the
Horses' earnings.
The Subscription Period for contributions to the capital of the Partnership is currently open by reservation only see Presale Delivery Instructions. The Subscription Period will terminate on July 1, 2011 or earlier, if fully subscribed. Upon full subscription StablesOnline.com Inc., will furnish e-mail notice of same to each subscriber to purchase his/her units held in reserve.
Prior to receipt of all capital contributions, StablesOnline.com Inc., reserves the right to terminate the subscription at its discretion by furnishing e-mail notice of same to each subscriber and by returning his/her funds.
The contributions to the capital
of the Partnership will be received by StablesOnline.com
Inc., and at such time will be recorded, deposited
and held in trust in a Premier Platinum Banking Account in the
name of the Management Agent at CHASE The CHASE Manhattan Bank and/or HSBC (The Worlds Local Bank), for the benefit of each
subscriber. When all contributions have been received, the proceeds
will be retained to be used only for the purposes
set forth under "Sources and Uses of Proceeds",
herein.
StablesOnline.com Inc., will
make available to each prospective partner and
his/her representative or advisor, any documents
related to this transaction as well as the opportunity
to ask questions via e-mail and receive answers
via e-mail concerning any aspect of the Partnership.
Prospective partners should
not construe the contents of this document as
being legal, tax, accounting or expert advice.
Each partner should consult with one's own counsel,
accountant or other professional advisors as to
all legal, accounting, tax and other matters.
Continue to
The Horses
|