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Hellmund reacts to McCombs statement

NEWS STORY
19/04/2012

Tavo Hellmund has issued a statement in reaction to that issued by Red McCombs less than twenty-four hours earlier.

It reads as follows:

"Yesterday, Red McCombs refused to honor the buy-sell provisions set forth in the company agreement. Full Throttle Productions therefore intends to enforce the buy-sell offer and acquire Mr. McCombs's interest.

"Earlier this week, Bobby Epstein confirmed in a letter to Full Throttle that he too is interested in acquiring a portion of Mr. McCombs's interest. Whether or not Mr. Epstein follows through with his plan, Full Throttle will ultimately own at least one-third of Accelerator Holdings.

"According to information provided by Mr. McCombs's legal counsel, this stake would in turn translate into a significant ownership interest by Full Throttle in Circuit of the Americas (COTA).

"This interest in COTA may actually be larger than expected, an issue that will be made clear only after the court orders Mr. Epstein and Mr. McCombs to turn over the company books, which they have refused to do voluntarily."

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