The Belleville Intelligencer is keeping the heat on Baymount Inc., who is supposed to be building the new Quinte Exhibition and Raceway in Belleville, Ont.
The publication reported a rather scathing article early last week which lambasted the company for the lack of progress and communication regarding to the project.
The Intelligencer has taken a very negative look at the future of the proposed raceway, saying in an article today that, "the new QER doesn't look like it's ever going to happen. Despite a sod-turning ceremony last August, the oft-delayed project seems doomed."
The piece goes on to say, "Baymount Inc. which was supposed to have financing for the $22-million project years ago, doesn't seem to have enough funds to even hire someone to answer the phone."
Last week Baymount reiterated its offer of up to $1.5 million of units at price of $0.035 per unit. Baymount had previously announced the offer on December 23, 2008.
To read The Intelligencer article in its entirety, click here.
(With files from The Belleville Intelligencer)
I see by the Stock Listing
I see by the Stock Listing that Baymount is currently priced at $.025. Why would anyone pay $.035 for a "preferred" option that is valued 28% cheaper ($.025) to buy at market price?
1,500,000 @ $.025 = $37,500. Still a long way from $22,000,000!