Tech No Prisoners is the first foal out of the mare Techno Vision, and sired by the stal-
lion Private Terms. She was bred by Pat and Leslie King at their Fairwinds Farm in Goshen, KY.
We are selling 50–60 shares @ $600 each. This gives us $30,000–$36,000 in capital. We purchased Tech No Prisoners from the Kings for $10,000, and are using the re-
maining capital to fund her training. This should be enough to cover her expenses until she begins racing in the fall of 2008.
Training expenses are approximately $2,000 to $2500 per month while the horse is at the track, and about ½ of that while at the farm.
In the event we run out of money, each share would be responsible for approxi-
mately $50 per month, until she begins covering her expenses with purse money.
Risks
Horse racing is a high-risk venture, with the majority of owners in the business losing money. The advantage of a partnership is that this risk is spread among the group. The worst-case scenario for us would be Tech No Prisoners earning nothing. That would mean each share would owe $50 (based on 50 shares sold) per month until the horse could be dispersed
Rewards
With high risk can come high rewards. Should we be lucky enough to find a home run horse there is the potential for large earnings and future breeding value. You have to have the dream. And we will have a lot of fun along the way.
Exit Strategy
This partnership will be dissolved when Tech No Prisoners is no longer in our ownership. Should any of the partners want to extricate themselves before the partnership is dissolved, they are responsible for finding buyers for their shares.