According to a report published on October 12th, Mad River’s losses for the 2005-2006 season were estimated (in September) at $280,000. This exceeds the previous estimate of not more than $205,000 which was disclosed to the shareholders earlier in the season and $250,000 which was estimated in July.
In addition, Share redemptions were suspended for those shareholders looking to get out due to a lack of capital. The mountain projects that “without a good Christmas week for revenue, [they] would be out of cash in January.”
