Motor Sport Country Club Holdings Inc - FORM 10-Q

Attached files

file	filename
EX-32.1 - EXHIBIT 32.1 - Motor Sport Country Club Holdings Inc	ex321.htm
EX-31.1 - EXHIIBT 31.1 - Motor Sport Country Club Holdings Inc	ex311.htm

1UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended March 31, 2011

Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Commission File Number 000-27189

MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.

(Name of Registrant as specified in its charter)

Nevada	98-0230423
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification Number)

11100 W. 8th Avenue, Suite 200
Lakewood, CO	80215
(Address of principal executive office)	(Zip Code)

Issuer’s telephone number: (888) 967-5552

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes  No 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ¨	Accelerated filer ¨
Non-accelerated filer ¨	Smaller reporting company x
(Do not check if a smaller reporting company)

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes ¨ No x

State the number of shares outstanding of each of the issuer’s classes of common equity, as of May 15, 2011:

Common Stock, par value $0.001 per share; 23,858,845

MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.

FORM 10-Q

TABLE OF CONTENTS

		Page
PART I. FINANCIAL INFORMATION

Item 1.	Financial Statements (unaudited)

	Balance Sheets – March 31, 2011 and December 31, 2010	3

	Statements of Operations and Comprehensive Income (Loss) - for the three months ended March 31, 2011 and 2010	4

	StStatements of Changes in Stockholder’s Equity (Capital Deficit) – Inception to March 31, 2011	5

	Statements of Cash Flows - for the three months ended March 31, 2011 and 2010	6

	Notes to Unaudited Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Principal Condition and Operations	8

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	12

Item 4.	Controls and Procedures	12

PART II.	OTHER INFORMATION

Item 1.	Legal Proceedings	13

Item 1A.	Risk Factors	13

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	13

Item 3.	Defaults upon Senior Securities	13

Item 4.	(REMOVED AND RESERVED)	13

Item 5.	Other Information	13

Item 6.	Exhibits	13

SIGNATURES		14

MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
BALANCE SHEET
(Expressed in US Dollars)
	March 31, 2011 (UNAUDITED)			December 31, 2010 (AUDITED)

ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	14,118		$	32,737
Total current assets	$	14,118		$	32,737

TOTAL ASSETS		14,118			32,737

CURRENT LIABILITIES
Short-term loans from related parties	$	354,792		$	341,476
Deferred compensation payable		197,500			138,250
Credit cards payable - American Express		342			-
Total current liabilities		552,634			479,726

STOCKHOLDERS' EQUITY
Common stock, $0.001 par value 75,000,000 shares authorized, 23,858,845 shares issued
and outstanding as of March 31, 2011 and December 31, 2010		23,859			23,859
Member's Equity		-			-
Additional paid-in capital		356,159			356,159
Accumulated (deficit)		(918,534	)		(827,007	)


Total stockholders' equity		(538,516	)		(446,989	)

TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$	14,118		$	32,737

The accompanying notes are an integral part of the consolidated financial statements

MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF OPERATIONS
(Expressed in US Dollars, except share amounts)


	For the three months ended
	March 31, 2011 (UNAUDITED)			March 31, 2010 (UNAUDITED)			August 23, 2007 (INCEPTION) through March 31, 2011

OPERATING EXPENSES
Advertising and promotion	$	-		$	(5,618	)		(137,867	)
Land option expense		-			-			(15,000	)
Sales, general and administrative		(3,932	)		(3,271	)		(84,564	)
Compensation and professional fees		(87,595	)		(137,114	)		(687,643	)

OPERATING LOSS		(91,527	)		(146,003	)		(925,074	)

LOSS FROM CONTINUING OPERATIONS		(91,527	)		(146,003	)		(925,074	)

NON-OPERATING INCOME (EXPENSE)
Interest income (expense)		-			27			6,540


Net Income (Loss)	$	(91,527	)	$	(145,976	)	$	(918,534	)


BASIC LOSS PER SHARE	$	(0.00	)	$	(0.01	)

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING		23,858,845			10,558,836

The accompanying notes are an integral part of the consolidated financial statements

MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.
(A DEVELOPMENT STAGE COMPANY)
STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY
(Expressed in US Dollars, except share amounts)

							Motor Sport Country Club Holdings, Inc.						Deficit
													Accumulated
	Motor Sport Country Club, LLC						Common Stock				Additional		During the
	Member Capital Contributions			Member Capital Distributions			Shares		Amount		Paid-in capital Par Value		Development Stage			Total

Inception, August 23, 2007	$	-		$	-			-	$	-	$	-	$	-		$	-

Contributions		310,895															310,895

Distributions					(63,073	)											(63,073	)

Net loss for period														(76,805	)		(76,805	)
Balance - December 31, 2007		310,895			(63,073	)		-		-		-		(76,805	)		171,017

Contributions		125,960															125,960

Distributions					(178,146	)											(178,146	)

Net loss for the year														(93,283	)		(93,283	)
Balance - December 31, 2008		436,855			(241,219	)		-		-		-		(170,088	)		25,548

Contributions		418,316															418,316

Distributions					(306,611	)											(306,611	)

Net loss for the year														(79,530	)		(79,530	)
Balance - December 31, 2009		855,171			(547,830	)		-		-		-		(249,618	)		57,723

Contributions		181,256															181,256

Distributions					(20,386	)											(20,386	)

Net loss for period														(145,976	)		(145,976	)
Balance - March 31, 2010		1,036,427			(568,216	)		-		-		-		(395,534	)		72,617

Effect of reverse merger
with Victoria Industries,
Inc., the "legal" acquirer,
on May 17, 2010		(1,036,427	)		568,216			23,858,845		23,859		356,159		145,976			57,783

Net loss for period														(577,389	)		(577,389	)
Balances - December 31, 2010		-			-			23,858,845		23,859		356,159		(827,007	)		(446,989	)

Net loss for period														(91,527	)		(91,527	)
Balances - March 31, 2011	$	-		$	-			23,858,845	$	23,859	$	356,159	$	(918,534	)	$	(538,516	)

The accompanying notes are an integral part of the consolidated financial statements

MOTOR SPORT COUNTRY CLUB HOLDINGS, INC
(A DEVELOPMENT STAGE COMPANY)
STATEMENTS OF CASH FLOWS
(Expressed in US Dollars)


	For the three months ended

	March 31, 2011 (UNAUDITED)			March 31, 2010 (UNAUDITED)			August 23, 2007 (INCEPTION) through March 31, 2011

CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(91,527	)	$	(145,976	)	$	(918,534	)
Adjustments to reconcile net loss from continuing operations to net cash in operating activities
Changes in current assets and liabilities:
Increase (decrease) in credit card balance		342						342
Increase (decrease) in loans from related parties		13,316			-			354,792
Increase (decrease) in Deferred compensation payable		59,250						197,500
Increase (decrease) in accounts payable and accrued expenses					812
Cash used in operating activities of continuing operations		(18,619	)		(145,164	)		(365,900	)

CASH FLOWS FROM FINANCING ACTIVITIES
Net cash investment by sole member prior to public merger on 5/17/10		-			160,870			380,018
Cash provided by financing activities		-			160,870			380,018

INCREASE (DECREASE) IN CASH:		(18,619	)		15,706			14,118
CASH, at the beginning of the period		32,737			57,723			-

CASH, at the end of the period	$	14,118		$	73,429		$	14,118




The accompanying notes are an integral part of the consolidated financial statements

ITEM 1 - NOTES TO FINANCIAL STATEMENTS

Basis of Presentation

The accompanying, unaudited, condensed financial statements are presented in accordance with generally accepted accounting principles (“GAAP”) in the United States for interim financial information, and instructions to the Quarterly Report on Form 10-Q.

In the opinion of management, these unaudited financial statements reflect a fair statement of the results of operations and financial condition of the Company for the periods and at the dates presented. The operating results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Reference should be made to the financial statements contained in our Annual Report on Form 10_K for the year ended December 31, 2010 (“2010 Form 10-K Report”)

Company organization and history

The Company was incorporated in the state of Nevada on January 25, 2000 under the name “Rolltech, Inc.” On October 9, 2003, the Company filed an amendment to its articles of incorporation changing its name from “Rolltech, Inc.” to “Victoria Industries, Inc.” On May 17, 2010, the Company entered into and closed a membership interest purchase agreement (“Exchange Agreement”) among the Company, Motorsports Country Club LLC, a Colorado limited liability company (“MSCC”) and the unitholders of MSCC (the “MSCC Unitholders”). Pursuant to the terms of the Exchange Agreement, all of the issued and outstanding membership interests of MSCC were exchanged for 20,800,000 shares of the Company’s common stock (the “Exchange”), representing 87.18% of our outstanding shares following the consummation of the transactions contemplated by the Exchange Agreement and the Purchase Agreement (as described below). As a result of the transaction, MSCC became our wholly-owned subsidiary, with MSCC’s former unitholders acquiring a majority of the outstanding shares of our common stock. On May 27, 2010, the Company filed articles of merger with the Secretary of State of the State of Nevada changing the Company’s name from “Victoria Industries, Inc.” to “Motor Sport Country Club Holdings, Inc.” This corporate action was approved by FINRA and took effect at the open of business on October 21, 2010.

The number of fulltime employees of the Company as at March 31, 2011 and December 31, 2010 amounted to 1 employee.

Going concern – The Company is a development stage company. The ability of the Company to meet its obligations is dependent on being able to raise the necessary financing to continue with the development of the company. The Company's financial statements have been presented on the basis that it is a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. Management remains committed to funding the exploration of the development phase of the Company through financing from related parties as has occurred during the course of this year. To implement its business plan, Management is currently seeking additional sources of permanent equity and/or debt capital.

Development Stage Company

The Company is considered to be in the development stage as defined in ASC 915, “Accounting and Reporting by Development Stage Enterprises”. The Company has devoted substantially all of its efforts to the corporate formation and the developing of the plans to bring the land they have an option on to its intended use.

Income Taxes

The Company is a public corporate entity and will be taxed as any other corporate entity.

ITEM 1 - NOTES TO FINANCIAL STATEMENTS (CONT.)

SHORT TERM LOANS

Short-term loans as of March 31, 2011 in a total amount of $354,792 represent one non-interest bearing note payable to Claus Wagner, the Company’s majority shareholder in order to finance certain administrative expenses.

RELATED PARTIES

Related parties include shareholders, affiliates and entities under common ownership, over which the Company has the ability to exercise a significant influence and/or control.

Transactions with related parties are performed on terms that may differ from those that would be available to unrelated parties.

Short-term loans from related parties as of March 31, 2011 total $354,792 and represent one non-interest bearing note payable to Claus Wagner, the Company’s majority shareholder in order to finance certain administrative expenses.

SUBSEQUENT EVENTS

None

ITEM 2 - MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

This Management's Discussion and Analysis of Financial Condition and Results of Operations includes a number of forward-looking statements that reflect Management's current views with respect to future events and financial performance. You can identify these statements by forward-looking words such as “may,” “will,” “expect,” “anticipate,” “believe,” “estimate” and “continue,” or similar words. Those statements include statements regarding the intent, belief or current expectations of us and members of our management team as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risk and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

Readers are urged to carefully review and consider the various disclosures made by us in this report and in our other reports filed with the Securities and Exchange Commission. The following Management’s Discussion and Analysis of Financial Condition and Results of Operations of the Company should be read in conjunction with the Consolidated Financial Statements and notes related thereto included in this Quarterly Report on Form 10-Q. Important factors currently known to Management could cause actual results to differ materially from those in forward-looking statements. We undertake no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes in the future operating results over time. We believe that our assumptions are based upon reasonable data derived from and known about our business and operations. No assurances are made that actual results of operations or the results of our future activities will not differ materially from our assumptions. Factors that could cause differences include, but are not limited to, expected market demand for our products, fluctuations in pricing for materials, and competition.

Recent Developments

Exchange Agreement

On May 17, 2010, Motor Sport Country Club Holdings, Inc. (f/k/a Victoria Industries, Inc.) (the “Company”) entered into and closed a membership interest purchase agreement (“Exchange Agreement”) among the Company, Motorsports Country Club LLC, a Colorado limited liability company (“MSCC”) and the unitholders of MSCC (the “MSCC Unitholders”). Pursuant to the terms of the Exchange Agreement, all of the issued and outstanding membership interests of MSCC were exchanged for 20,800,000 shares of the Company’s common stock (the “Exchange”). As a result of the transaction, MSCC became our wholly-owned subsidiary, with MSCC’s former unitholders acquiring a majority of the outstanding shares of our common stock.

In connection with the acquisition of MSCC, on May 17, 2010, Oleg Batratchenko resigned as our chief executive officer, effective immediately and we appointed (i) Mr. Claus Wagner as our Chief Executive Officer and director and (ii) Mr. Robert Newson as our president and chief operating officer. Upon the expiration of the 10-day period following the delivery and/or mailing of the Schedule 14f-1 Information Statement to our stockholders in compliance with the provisions of Section 14(f) of the Act and Rule 14(f)-1 thereunder, the resignation of Mr. Batratchenko as a director of our Board, and the appointment of Robert Newson, Patrick R. McDonald, Richard P. Dutkiewicz and John Henry Schlie as members of our board of directors will also become effective.

In connection with the Exchange Agreement, on April 9, 2010, the Sellers, the Company, Motorsports Country Club LLC (“MSCC”) and Jody M. Walker, Attorney at Law (“Stock Escrow Agent”) entered into that certain stock escrow agreement and agreement to cancel shares (“Escrow Agreement”) pursuant to which upon consummation of the Exchange Agreement, the Sellers (as defined below) returned for cancellation 7,499,991 shares of common stock of the Company.

Overview

The number of fulltime employees of the Company as at March 31, 2011 and December 31, 2010 amounted to 1 employee.

MSCC was formed to investigate the feasibility, the desirability and construction of a luxurious motor sport schemed destination resort. Upon due diligence, MSCC identified various sites for the planned projects throughout the world. In June 2007, just prior to MSCC being formed, the sole member of MSCC contracted to acquire a parcel of land totaling 2,600 acres outside of Denver, Colorado. In March 2010, the land option which was expired was extended through December 2010. This land option contract was not renewed in 2010, as management felt that the nature of the real estate market did not require continued maintenance of the land option contract to secure the land. MSCC has obtained full planning permits and other permissions for the resort master plan, excluding specific permissions for the residential unit component.

MSCC contemplates that revenue will be derived from the following sources:

·	Initiation fees and annual dues – Rather than having to wait for a track event being organized by a car club, track time will be available to be booked online or via a call to the track concierge. Members will essentially have unlimited track time.

·	Non-member track rentals – Non-member track rental will be available but will be very limited.

·	Garage rental and sales – A number of members will have dedicated track cars that they will opt to leave at the club. Many race teams need to rent garage space to service their cars and for storage.

·	Residence rentals and sales – Members and their guests will likely stay at the resort for several days. A residence club is planned to accommodate their needs.

·	Other sources – Revenue will include sales generated by the driving school, service garage, pro shop, restaurants, and lodging.

·	Land sales – The Company has planned more than 1,000 acres designated for home sites, and an exclusive residential community.

·	Events – The Company anticipates that the club will bring in a major series event, as well as automobile manufacturers having launch events.

Management believes that the focus of our operations will be on the construction of a luxurious motor sport destination resort.

Thus far, our focus has been on initial corporate formation and capitalization, the acquisition of the option to purchase land in Colorado and the development of our business plan. We plan the operations for the remainder of 2011 to be focused on the development of our race track. The completion of this task will require additional capital beyond what we currently have on hand.

For the next twelve months, we expect to pursue the implementation of our business plan, the building of our race track and the development and marketing of the resort and membership in our club. Our current cash position is not sufficient to fund our cash requirements during the next twelve months, including operations and capital expenditures. We intend to seek joint ventures or obtain equity and/or debt financing to support our current and proposed operations and capital expenditures. We cannot assure that continued funding will be available.

Our future financial results will depend primarily on our ability to (1) fully implement our business plan, (2) develop our race track and resort (3) generate revenue from membership interests and (4) develop our brand awareness. We cannot assure that we will be successful in any of these activities.

Results of Operations

For the three month periods ended March 31, 2011 and 2010, the Company showed a net loss of $91,527 and $145,976, respectively. The decrease between the corresponding fiscal periods is primarily related to more focused activity in exploration of the business plan, decreased compensation and professional fees and advertising and promotion expense.

Revenues

Revenues for the three months ended March 31, 2011 and 2010 were $-0- and $-0-, respectively, reflecting our startup nature.

Gross Profit

Gross Profit for the three months ended March 31, 2011 and 2010 were $-0- and $-0-, respectively, reflecting our startup nature.

Operating Expenses

Operating expenses for the three months ended March 31, 2011 and 2010 were $91,527 and $146,003, respectively. Operating expenses for the three months ended March 31, 2011 consisted of wage and professional fees in the amount of $87,595 and general and administrative expenses in the amount of $3,932. Operating expenses for the three months ended March 31, 2010 consisted of wage and professional fees in the amount of $137,114, general and administrative expenses in the amount of $3,271 and advertising and promotion expenses in the amount of $5,618. The decrease between the corresponding fiscal periods is primarily related to more focused activity in exploration of the business plan and decreased wage and professional fees and advertising and promotion.

Net Loss

Our net losses for the three month periods ended March 31, 2011 and 2010 amounted to $91,527 and $145,976, respectively, reflecting our startup nature.

Liquidity and Capital Resources

At March 31, 2011, we had working capital deficit of approximately $538,516, which consisted of current assets of approximately $14,118 and current liabilities of $552,634. We plan to continue to provide for our capital needs by loans from the Company’s majority shareholder as we pursue issuing debt or equity securities.

Net cash provided by operating activities

Net cash used in operating activities was $18,619 for the three months ended March 31, 2011 as compared to $145,164 for the three months ended March 31, 2010. The decrease between the corresponding fiscal periods is primarily related to more focused activity in exploration of the business plan and decreased wage and professional fees and advertising and promotion expenses.

Net cash provided by financing activities

Net cash provided in financing activities was $0 for the three months ended March 31, 2011 as compared to $160,870 for the three months ended March 31, 2010. The decrease between the corresponding fiscal periods is primarily related to decreased financing provided by the Company’s majority shareholder.

We will require additional financing in order to complete our stated plan of operations for the next twelve months. We believe that we will require additional financing to carry out our intended objectives during the next twelve months. There can be no assurance, however, that such financing will be available or, if it is available, that we will be able to structure such financing on terms acceptable to us and that it will be sufficient to fund our cash requirements until we can reach a level of profitable operations and positive cash flows. If we are unable to obtain the financing necessary to support our operations, we may be unable to continue as a going concern. We currently have no firm commitments for any additional capital.

The downturn in the United States stock and debt markets could make it more difficult to obtain financing through the issuance of equity or debt securities. Even if we are able to raise the funds required, it is possible that we could incur unexpected costs and expenses, fail to collect significant amounts owed to us, or experience unexpected cash requirements that would force us to seek alternative financing. Further, if we issue additional equity or debt securities, stockholders may experience additional dilution or the new equity securities may have rights, preferences or privileges senior to those of existing holders of our shares of common stock. If additional financing is not available or is not available on acceptable terms, we will have to curtail our operations.

We presently do not have any available credit, bank financing or other external sources of liquidity. Due to our brief history and historical operating losses, our operations have not been a source of liquidity. We will need to obtain additional capital in order to expand operations and become profitable. In order to obtain capital, we may need to sell additional shares of our common stock or borrow funds from private lenders. There can be no assurance that we will be successful in obtaining additional funding.

To date, we have generated no revenues and have incurred operating losses in every quarter. Our registered independent auditors have stated in their report dated April 13, 2010, that we are an early exploration company and have not generated revenues from operations. These factors among others may raise substantial doubt about our ability to continue as a going concern.

Off-Balance Sheet Arrangements

As of March 31, 2011, we had no off-balance sheet arrangements.

Application of Critical Accounting Policies

Use of Estimates

The preparation of financial statements in accordance with United States generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from these estimates.

Revenue Recognition

For revenue from product sales, the Company recognizes revenue based on four basic criteria that must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectibility is reasonably assured.

There was no revenue during the periods reported in this filing.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer, to allow timely decisions regarding required disclosure.

We carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) as of March 31, 2011. Based upon that evaluation, our Chief Executive Officer, concluded that our disclosure controls and procedures were effective.

PART II – OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

We are not party to any legal proceedings, nor are we aware of any contemplated or pending legal proceedings against us.

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and, as such, are not required to provide the information under this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None

ITEM 4. REMOVED AND RESERVED

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

Number		Description
31.1		Certification as Adopted Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 by Chief Executive Officer.

32.1		Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by the Chief Executive Officer.

SIGNATURES

Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.

Dated: May 23, 2011	By:	/s/ Claus Wagner
		Name: Claus Wagner
		Title: Chief Executive Officer

Attached files

Motor Sport Country Club Holdings Inc Reports

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