American Racing Capital Inc (AMRA)

American Racing Capital Inc was incorporated under the laws of the State of Nevada on September 8, 1998 as Mega Health Corporation. On June 23, 1999, the name of the corporation was changed to Altrimega Health Corporation. On July 25, 2002, the Company entered into a non-binding letter of intent with Creative Holdings, Inc., a South Carolina corporation. A Merger Agreement was executed on August 15, 2002, between the Company, Altrimega Acquisition Company, a Nevada corporation, Creative Holdings and the shareholders of Creative Holdings. On September 2, 2002, the Company, Creative Holdings and the shareholders of Creative Holdings amended the Merger Agreement and restructured the merger into a stock exchange transaction, whereby Creative Holdings would become a wholly-owned subsidiary of the Company. The share exchange was completed on October 17, 2002, at which time; Creative Holdings became a wholly owned subsidiary of the Company. As a result of the share exchange transactions, in October 2005, the Company adopted a new strategy which seeks to integrate race track design and development operations with a professional racing team and a national driving school network to leverage the popularity and growth of the motor sports industry. American Racing's intended core business is racetrack development and facilities management. The Company has a three-pronged approach to growth in this market segment. Short-track acquisitions; Short-track design and development venues coupled with events sanctioned by - CHAMPCAR, INDYCAR, NASCAR, or other participating organizations and the Company solicit corporations seeking to utilize motorsports as a revenue-generating promotional opportunity, providing motorsports marketing and product licensing. By agreement on February 2, 2007, the Company retained Frost Motorsports LLC. to compile a comprehensive search on available speedway properties. Hiring Frost Motorsports would play an intricate role in developing the Company"s growth initiatives as they offer multi-faceted services custom designed to the client"s needs. Frost Motorsports and its strategic partners provide expert analysis and innovative financial solutions within the motorsports industry. It attempts to position itself to acquire a network of companies. American Racing focuses on racetrack development and facilities management throughout the continental the United States. Through it"s subsidiaries, American Racing would attempt to - secure financial interests in established track facilities which might also include race management contracts; engage in the re-design, development and management of race track facilities through controlling interests or wholly owned acquisitions and acquire associated companies that compliment its projected motorsports holdings. It has a vision for a project portfolio that ranges from developing larger-scale racetrack multiplex facilities, to smaller less elaborate race track facilities. American Racing is evaluating racetracks in viable markets currently offered for sale. There is competition in the field of motor sports racing and entertainment. The increased popular interest in this field has created demand for additional services, such as those intended to be provided by the Company.