Company Description
The Corporation was formed as a C corporation and incorporated November 24, 1998. The Corporation is currently not involved with any proceedings, bankruptcy or receiverships.

The Corporation is in the operational stage and offers entertainment based oval driving schools and events. These classes are conducted at various racetracks throughout the country.

The Corporation completed its first driving classes in Rockingham, NC July of 1999. Since July 4th, 1999 the Corporation has run classes at over forty NASCAR tracks.

The Corporation currently owns fifteen (15) race cars. These race cars are classified as stock cars and are equipped for oval or round tracks only. They are fully loaded with brand new race engines, six (6) point harnesses, neck and head restraints, communications, track specific gears and complete safety cages.

The Corporation has negotiated terms with over forty (40) racetracks where, for a fee ranging from $0 to $10,000 a day, we can rent their tracks.

Products and Services. The Corporation offers five(5) types of ride or drive programs for individuals and corporations. The "Qualifier" is a three(3) lap ride with a professional driver which lasts about five(5) minutes, depending on the length of the track. The "Season Opener" is a half day training class culminating in the student driving for ten(10) laps. The "Rookie Adventure" and "Happy Hour" are also half day driving classes with the students driving twenty(20) or thirty(30) laps respectively. The "Advanced Stock Car Adventure" is a full daysixty (60) lap class.

The operation is similar to that of a traveling show in that we transport the stock cars, the mechanics, the sales staff and the instructors from event to event.

The main purpose of each event is the thrill of actually driving the race car.

The Corporation's objective is to utilize this first "hub" of fifteen (15) race cars on the east coast to their full potential. It is in the Corporation's plans that once this first hub becomes utilized at least fifteen(15) days per month and is profitable, to then add another "hub" on the West Coast. This would entail the purchase of another ten(10) race cars and the support equipment necessary to maintain them.

The Corporation has purchased fifteen (15) stock cars at an approximate price of $50,000 per car. Parts will be nominal due to the lack of any sustained stress on the cars, approximately $10,000 per month per site. Staffing costs will be approximately $20,000 per month at each active "hub". The Corporation owns a Miller Semi Tractor Trailer to haul the cars from track to track. The transporting of staff to the event and their food and lodging costs average $4000 per day.

The Corporation also offers a number of add-on sale items including CDs from its Adventure Cam located in the car (four cameras and complete GPS data), clothing, souvenirs and photography.

The Corporation is currently developing its logos and marketing materials and will commence the trademarking process for its name and various products and services.

Marketing. The Corporation offers its products and services at various tracks throughout the country. The Corporation employs a marketing director. This individual is primarily responsible with closing the prospects created through promotion. These services will be sold as corporate outings and directly to the public through various marketing and advertising mediums with an emphasis on radio.

Promotional and Licensing Agreements. In December 1998, the Corporation entered into promotional and licensing agreements with Dale Jarrett, Ned Jarrett, Glenn Jarrett, Jason Jarrett and Brett Favre (individually, the "Licensor") whereby these individuals have granted the Corporation the use of their names and likeliness in advertising, products and promotional materials, as well as an agreed upon number of appearances per year and an agreed upon number of radio and/or television commercials as set out in each agreement. Ned Jarrett is the father of Dale Jarrett and Glenn Jarrett. Dale Jarrett is the father of Jason Jarrett.

Pursuant to these agreements, the Corporation has issued an aggregate of 5,500,000 Common Shares of the Corporation. The term of each agreement is Ten (10) years unless sooner terminated by the occurrence of any of the following:

(a) a material breach by the Corporation of the agreement which breach has not been satisfied within thirty (30) days of receipt of written notice from the Licensor;

(b) upon receipt of written notice from the Licensor if, as a result of (i) any act or omission of the Corporation, (ii) any claim or charge against the Corporation or (iii) any other occurrence or circumstances involving the Corporation, the continued association of Licensor with the Corporation would be detrimental to the value of the Licensed Material or to Licensor's image or reputation;

(c) the failure of the Corporation to continually operate and manage the business according to the policies, practices and standards agreed to by the parties;

(d) the failure of the Corporation to comply with any laws and regulations, the consequences of which are material adverse to the Corporation.

The unearned services under the contracts aggregate $50,000 at December 31, 2006. As of December 31, 2004, the Corporation determined that certain of the service contracts no longer would provide continuing contributions to the Corporation's operations. The impairment amounted to $272,224 for the six months ended December 31, 2004.

During the term of the agreements, the Licensor agreed not to directly or indirectly (whether for compensation or otherwise), provide promotional appearances or services to any business which competes with the Corporation's business of owning and managing driving schools.

The Corporation has also agreed not to issue any additional common shares in the Corporation's stock to insiders, directors without the Licensor's approval. Additionally, any and all future financings will be offered to the Licensor prior to being offered to third parties. On June 2, 2003, the Company's Board of Directors approved the exchange of all or a portion of the indebtedness to its officers and directors and a consultant for restricted common stock at an exchange price of $.14 per share. The fair value of the stock subject to the exchange price was $.27 as of December 31, 2006 and the aggregate amount of debt subject to exchange was $482,939 at December 31, 2006. If all of the debt as of December 31, 2004, were converted, the Company would be required to issue an additional 1,994,029 shares.


The driving schools industry is currently experiencing a limited degree of competition with regard to availability, price, service, quality and location. There is one well-established market leader (Richard Petty Driving Experience) that is nationally recognized and which possess substantially greater financial, marketing personnel and other resources than the Corporation. There are also a small number of local or regional schools. Virtual reality driving experiences are also becoming more and more realistic and therefore a growing competitor. It is also likely that other competitors will emerge in the near future. There is no assurance that the Corporation will compete successfully with other established driving schools. The Corporation shall compete on the basis of availability, price, service, quality and location. Inability to compete successfully might result in increased costs, reduced yields and additional risks to the investors herein.