February 7 Update

Edson Car Wash: Exterior Cladding is 85% complete. Interior insulation follows quickly behind. Heat should be in the building along with the gas meter by the latter end of the month and the slab should be able to be poured shortly thereafter. Interior excavation, in slab piping, and sump layouts are the current priority.

Fort Car Wash: Good weather = good business. Needed renovations expected to take place in two stages with the first occuring this month (February). Might need to close down for a few days in June (slow period) to change out the doors, paint the steel, recoat the in-bay equipment stands, and potentially add slope to the floors. Replacement of Data Key system needs a re-tooling prior to actual application. Other alternatives do exist.

Fort Car Wash Refinancing: Package in front of financing institutions. Additional information required to aid process. Still waiting.

Fort Car Wash Phase 2 Expansion: An additional upgrader has been planned for the Fort Saskatchewan area. This brings the list to 3 planned, 1 ready for governmental approval, 1 currently under construction (2006 -2007), and 1 completed with an addition in the works. Should another one move from the planning stage to the governmental approval stage a variety of possibilities open up including the addition of commercial bays on the existing car wash and the expansion of the Rural Development Corporation's holdings.

Potential Future Truck Washes: Much more research is required and will be conducted via this year's annual car and truck wash show in Las Vegas - but the following are the current possibilities for Truck Wash/ Truck Stop projects:

1) Edmonton-Calgary Highway location - Excellent potential for leased premises with self-serve and/or automatic truck wash addition.
2) West End Original location - Excellent Truck Stop location
3) New West End location in current Truck-Friendly area - 2 Automatic Truck Wash concept.
4) Sherwood Park location - 2 Automatic Truck Wash concept.
5) Dungeon location in West End - 2 Automatic Truck Wash concept.
6) Bikini Truck Wash location. - Not feasible with current asking price.

As these developments are cash intensive, it may require a syndicated group to take on this style and size of development. Available shares of 25-30 each costing $50,000 (MMC acting as the managing partner with 5 shares) may be the best way to deal with my investors and this type of development - starting with one or two locations and branching into a dozen or more within a few years time. Branding is the major issue to be worried about to ensure maximum growth.

Edson Commercial Condos: Still a possibility. Though several other styles of development may be a much better match for this property.

Commercial Center: Still awaiting Owner's response. At this time I may let this opportunity go due to the lack of interest from the Owners.

Urban Market: Research ongoing. More time needs to be spent with fine tuning the rental rates, common area charges, and Utility costs to get an accurate picture of the scope of the project. Several possibilities exist for franchising or branching out, as well as a very interesting side development stemming from talks with a potential investor. Logo should be prepared by Month's end and open vendor recruiting is expected in short order. Expected opening is October 2006. An Excellent Manager has been located.

Tech Head: Growing organically at this point. I'm happy with the current status, but at the same time realize that the largest hurdle (focus) is still in front of us. The business partner is an excellent fellow who just wants to make it work and is looking for a little direction, but no problem is insurmountable so long as we are working together and looking at it logically and objectively.

On the personal front it appears that I may have found the appropriate home for my soon to be budding family. Both myself and the other (better?) half like the model with a few upgrades - but as early as January 2007 I may be the proud owner of a newly constructed home in a nicer neighborhood in Edmonton's West End.

One final note... Recently an opportunity to achieve $5,000 per month for 10 hours per week in a management capacity was offered by an acquaintance of mine. While the numbers did look enticing, a lot more emphasis needs to be put on the quality of presentation. Numbers backed up by paper (lease agreements, governmental submittals, in house financials, etc) go alot further than numbers recalled from memory. Timing was the major issue in this case, but one thing I have learned from financing companies is that if you have all the numbers and documents ready they can typically achieve a lot faster results than if they have to repeatedly call you.

Well, here's to the future.