Breaking Cobra News

[REAL 1]

Brent: Thanks for the info.

It appears that if an AC fabricated body and chasis is delivered to SAI and the expected price of $145K for a painted roller is attained we then have: $145k+$30K(engine and trans)+ $3K (runner kit)+$5K approx (dealer prep and installation of the above) plus tax for a total of approx $190K out the door.

I read your responses and based on the detailed info Mark VI has supplied it appears to me as follows:

1. Lubinsky buys AC out of a receivership.

2. Jim Price owner of SPF and Hi Tech supplies AC with various parts for the AC models Mk III and IV's for a period of time. Interesting twist here since a U.S company is now supplying AC parts for their cars. Hi Tech also has connections with Shelby American when Mr. D'Antonio (sp?) the chief designer and engineer for Hi Tech goes to SAI when SAI is starting up again.

3. AC/Lubinsky begins to owe Jim Price mucho dinero and can't pay the debt.

4. AC/Lubinsky starts to have financial problems based on mounting debt.

5. Bankruptcy or some equivilent in England is filed by AC as a receiver is appointed. AC is or is close to dissolution in the receivership.

6. Jim Price steps in to save AC's bacon by agreeing to take AC bodies and chasis for Hi Tech in trade for the $$$ owed.

7. AC lays an egg and can't deliver the "bodies and chasis" to Hi Tech.

8. Jim Price, probably in a effort to recoup his $$$ and save AC comes up with a creative business propostion for AC/Lubinsky. This also fits in perfectly for Jim in light of his raging battle with CS. Jim Price says "you assign me the rights to operate the plant, the rights to the logo and marketing rights to the AC MkIII and MkIV exclusively for 10 years and we'll call it even. Lubinsky says "deal" but I can still make and sell the Mamba and others except the MkIII & IV. Price says OK. Jim Price in essence now has the "keys" to AC for 10 years in exchange for the debt he was owed. Not bad.

9. Jim invests mucho dinero in AC and begins to set up distribution plans in U.S. for the ACs.

10. Lubinsky starts taking steps to market and sell AC MkIIIs and MkIV's. Jim Price calls "foul". Tells Lubinsky to "cease and desist. Lubinsky says "no". Jim Price shuts the plant down.

11. Litigation ensued over licensing and is pending. Possible out come is Jim Price may get "ownership".

Brent, based on the info from MkIV the above is my "interpretation" of it. Based on MK IV's info it doesn't appear the Jim Price put AC into bankruptcy. It sounds as if Lubinsky had it in bankruptcy already and Jim Price acquired the rights to AC production from Lubinsky through a receiver or the courts. It appears based on the info from MkIV that Lubinsky's rights to production, sales and marketing are seriously in question and currently in litigation. Lubinsky may "own" the logo and the AC plant and equip but the "exclusive rights" to use them were apparently exclusively assigned to Jim Price for 10 years. Maybe you guys are not getting the right info from Lubinsky and his lawyers?

Unless Jim Price is willing to just walk away from his licensing rights it appears there are some questions that need to be/should be answered.

Again the above is my interpretation of Mark IV's info as posted on the "Jim Price issue" thread. Can you shed any light on this?