Peak Resorts Inc (SKIS) Q2 FY2015 Quarterly Earnings Call Transcript

Operator

Our next question comes from David Loeb of Baird. Please go ahead.

David Loeb, Baird.

Good Morning Gentlemen. I think I have some pre-interview. Tim, the law suit settlement, was that the law suit that was mentioned in the perspective.

Tim Boyd, President and C.E.O. Peak Resorts.

Yes, it was David.

David Loeb, Baird.

Ok. So, that’s now totally gone unnoticed. There is nothing in the queue about other significant law suits. So, I guess that’s all behind you?

Tim Boyd, President and C.E.O. Peak Resorts.

Yes, that’s correct.

David Loeb, Baird.

Ok. And on the EB-5 it looks like you are on track, is there anything that’s made you kind of change your thoughts about when the escrow can be released or when you might get started.

Tim Boyd, President and C.E.O. Peak Resorts.

Dick, you want to answer that?

Dick Deutsch, Vice President – Business and Real Estate Development.

Sure, I am happy to. David, I think we are on track. We think that escrow will be released based on the United States Immigration Service approving our first investor’s petition. We don’t have any control over that but we have been told that it could be in April, May or June. At that time escrow would be released and construction on our west like project, our new water reservoir would then be started. Tim, I think previously mentioned that we have $19 million in escrow which relates to 38 investors, who have signed subscription agreements at this particular time and we continue to promote and host investors at our properties and give investment seminars about the project.

David Loeb, Baird.

Great. Very helpful. Thank you. One house-keeping and then I got a one more big picture question. Steve, I know I haven’t asked for this before but is there any way that you guys can provide either actual or per forma results for the last year for the 3rd and 4th quarters, just to kind of help us model this. But I do appreciate the commentary you gave earlier to help us model this. But is there any way you can give us previous years’ prior to reporting those quarters.

Steve Mueller, Vice President and C.F.O. Peak Resorts.

David, before we release those we really need to get the auditors through them also, because I don’t want to put out numbers to you that would be different than would be in the quarterly results. So, let me work on that for you.

David Loeb, Baird.

Ok. And then finally, Tim, can you just talk a little bit about your acquisition appetite? How you view your cost of capital versus where you see acquisition yielded?  What the market is like? Is there a lot out there that is available for you to look at for potential acquisitions?