SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934
Filed by the Registrant [x]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
[ ] Preliminary Proxy Statement
[ ] Confidential, for Use of the Commission Only [as permitted by Rule
14a-6(e)(2)]
[x] Definitive Proxy Statement
[ ] Definitive Additional Materials
[ ] Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
THE JARRETT/FAVRE DRIVING ADVENTURE, INC.
(name of Registrant as Specified In Its Charter)
(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
Payment of Filing Fee (Check the appropriate box):
[ x] No Fee required.
[ ] Fee computed on table below per Exchange Act Rules 14a-6(i)(4) and 0-
11.
1) Title of each class of securities to which transaction applies:
2) Aggregate number of securities to which transaction applies:
3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing
fee is calculated and state how it was determined):
4) Proposed maximum aggregate value of transaction:
5) Total fee paid:
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by
Exchange Act Rule 0-11(a)(2) and identify the filing for which the
offsetting fee was paid previously. Identify the previous filing by
registration statement number, or the Form or Schedule and the date of
its filing.
1) Amount Previously Paid:
2) Form, Schedule or Registration Statement No.:
3) Filing Party:
4) Date Filed:
<PAGE>3
THIS PROXY IS SOLICITED ON BEHALF OF
THE BOARD OF DIRECTORS OF
THE JARRETT/FAVRE DRIVING ADVENTURE, INC.
Timothy Shannon is hereby authorized to represent and to vote the
shares of the undersigned in Jarrett/Favre at an Annual Meeting
(hereinafter referred to as "Annual Meeting") of Stockholders to be
held on January 29th, 2001 and at any adjournment as if the undersigned
were present and voting at the meeting.
NOTE: Cumulative voting for directors is not allowed.
1. Election of Directors
FOR all nominees (except as written on the line below) [ ]
WITHHOLD AUTHORITY TO VOTE
for all nominees listed below [ ]
NOMINEES: Timothy Shannon, Brian Rosenbloom, Glenn Jarrett
(INSTRUCTIONS: To withhold authority to vote for any individual
nominees write the nominee's name on the line below.)
-------------------------------------------------
2. Approval of Jarrett/Favre's non-statutory stock option plan.
FOR [ ] AGAINST [ ] ABSTAIN [ ]
3. In their discretion, on any other business that may properly
come before the meeting.
The shares represented hereby will be voted. With respect to items 1
and 2above, the shares will be voted in accordance with the
specifications made and where no specifications are given, said
proxies will vote for the proposals. This proxy may be exercised by a
majority of those proxies or their substitutes who attend the meeting.
Please sign and date and return to Jarrett/Favre Driving Adventure,
Inc., 3660 Maguire Boulevard, Suite 101, Orlando Florida 32803.
Dated
----------------------
Signature
----------------------
Signature
Joint Owners should each sign. Attorneys-in-fact, executors,
administrators, trustees, guardians or corporation officers, should
give full title.
<PAGE>4
Jarrett/Favre Driving Adventure, Inc.
3660 Maguire Boulevard, Suite 101,
Orlando, Florida 32803
Telephone: (888) 467-2231
January 2, 2001
To the Stockholders of
Jarrett/Favre Driving Adventure, Inc.
You are cordially invited to attend an Annual Meeting (hereinafter
referred to as "Annual Meeting") of Stockholders of Jarrett/Favre
Driving Adventure, Inc., to be held on Monday, January 29, 2001 at
3660 Maguire Boulevard, Suite 101, Orlando, Florida 32803 at 1:00
P.M., Eastern time, to consider and vote upon the matters set forth in
the accompanying Notice of Annual Meeting of Stockholders.
In addition to the election of directors, Shareholders will be asked
to approve a non-statutory stock option plan. Approval of the non-
statutory stock option plan would be economically beneficial to
Jarrett/Favre. Jarrett/Favre would be able to partially compensate
eligible participants in a non-monetary manner with the 2001 Non-
Statutory Stock Option Plan.
Since it is important that your shares be represented at the meeting
whether or not you plan to attend in person, please indicate on the
enclosed proxy your decisions about how you wish to vote and sign,
date and return the proxy promptly in the envelope provided. If you
find it possible to attend the meeting and wish to vote in person, you
may withdraw your proxy at that time. Your vote is important,
regardless of the number of shares you own.
Sincerely,
-------------------------
Timothy Shannon
Chairman of the Board of Directors
Chief Executive Officer
<PAGE>5
THE JARRETT/FAVRE DRIVING ADVENTURE, INC.
NOTICE OF
ANNUAL MEETING
OF STOCKHOLDERS
To Be Held
January 29, 2001
To the Stockholders of
The Jarrent/Favre Driving Adventure, Inc.
NOTICE IS HEREBY GIVEN that an Annual Meeting of Stockholders of
Jarrett/Favre Driving Adventure, Inc. will be held on January 29, 2001
at 1:00 o'clock Eastern standard time at the Orlando office for the
following purposes; all as more specifically set forth in the attached
Proxy Statement.
1. To consider and vote upon the election of the Officers and
Directors of Jarrett/Favre.
2. Approval of the 2001 Non-Statutory Stock Option Plan.
3. To transact such other business as may properly be brought
before this meeting.
Only holders of record of common stock of Jarrett/Favre as of the
close of business on January 15, 2001, are entitled to notice of or to
vote at the meeting or any adjournment thereof. The stock transfer
books of Jarrett/Favre will not be closed.
Stockholders are encouraged to attend the meeting in person. To
ensure that your shares will be represented, we urge you to vote,
date, sign and mail the Proxy Card in the envelope that is provided,
whether or not you expect to be present at the meeting. The prompt
return of your Proxy Card will be appreciated. It will also save
Jarrett/Favre the expense of a reminder mailing. The giving of such
Proxy will not affect your right to revoke such Proxy by appropriate
written notice or to vote in person should you later decide to attend
the meeting.
By order of the Board of Directors
Timothy Shannon
January 15, 2001 Chairman of the Board of Directors
Chief Executive Officers
<PAGE>6
PROXY STATEMENT
THE JARRETT/FAVRE DRIVING ADVENTURE, INC.
ANNUAL MEETING OF STOCKHOLDERS
To Be Held January 29, 2001
INTRODUCTION
This Proxy Statement is furnished in connection with the solicitation
of proxies by the Board of Directors of Jarrett/Favre Driving
Adventure, Inc., a Nevada corporation, to be voted at an Annual
Meeting of Stockholders of Jarrett/Favre to be held on January 29,
2001 at 1:00 P.M., Eastern time, at 3660 Maguire Boulevard, Suite 101,
Orlando Florida 32803 and at any adjournment thereof (the "Meeting").
The Proxy may be revoked by appropriate written notice at any time
before it is exercised. See, "Voting and Solicitation of Proxies".
This Proxy Statement and the accompanying Notice and Form of Proxy are
being mailed on or about January 17, 2001 to record holders of
Jarrett/Favre's Common Stock as of January 15, 2001 (the "Record
Date").
As of Record Date, 13,153,500 shares of Common Stock of Jarrett/Favre
were issued and outstanding. Each share of Common Stock entitles the
holder to one vote on all matters brought before the Annual Meeting.
Jarrett/Favre was formed as a C corporation and incorporated November
24, 1998. Jarrett/Favre is currently not involved with any
proceedings, bankruptcy or receiverships.
Jarrett/Favre is in the operational stage and offers entertainment
based oval driving schools and events. These classes are conducted at
various racetracks throughout the country.
Jarrett/Favre completed its first driving classes in Rockingham, NC
July of 1999. Since July 4th Jarrett/Favre has run classes in Bristol,
Darlington, Talladega, Nashville, Milwaukee, Lakeland, Charlotte,
Atlanta, Salem, Michigan, Birmingham and Chicago.
Jarrett/Favre currently owns ten(10) race cars. These race cars are
classified as stock cars and are equipped for oval or round tracks
only. They are fully loaded with brand new Jasper 550hp engines,
five(5) point harnesses, communications, track specific gears and
complete safety cages.
Jarrett/Favre has negotiated terms with over twenty(20) racetracks
where, for a fee ranging from $0 to $10,000 a day we rent their tracks.
These negotiated terms are presented as rental lease agreements.
Products and Services. Jarrett/Favre offers five(5) types of ride or
drive programs for individuals and corporations. The "Qualifier" is a
three(3) lap ride with a professional driver which lasts about five(5)
minutes, depending on the length of the track. The "Season Opener" is
a half day training class culminating in the student driving for
ten(10) laps. The "Twin Ten" and "Happy Hour" are also half day
driving classes with the students driving twenty(20) or thirty(30) laps
respectively. The "Advanced Stock Car Adventure" is a full day
fifty(50) lap class.
The operation is similar to that of a traveling show in that we
transport the stock cars, the mechanics, the sales staff and the
instructors from event to event.
The main purpose of each event is the thrill of actually driving the
race car.
Jarrett/Favre's objective is to utilize this first "hub" of ten(10)
race cars on the east coast to their full potential. It is in
Jarrett/Favre's plans that once this first hub becomes utilized at
least fifteen(15) days per month and is profitable, to then add another
"hub" on the West Coast. This would entail the purchase of another
ten(10) race cars and the support equipment necessary to maintain them.
<PAGE>7
Jarrett/Favre has purchased ten(10) stock cars at an approximate price
of $50,000 per car. Parts will be nominal due to the lack of any
sustained stress on the cars, approximately $10,000 per month per site.
Staffing costs will be approximately $40,000 per month at each active
"hub". Jarrett/Favre has an operating lease for a Miller Tractor
Trailer to haul the cars from track to track. The transporting of
staff to the event and their food and lodging costs average $1000 per
day.
Jarrett/Favre also offers a number of add-on sale items including
videos from its Adventure Cam located in the car (split screen
cameras), clothing and souvenirs.
Jarrett/Favre is currently developing its logos and marketing materials
and will commence the trademarking process for its name and various
products and services.
Marketing. Jarrett/Favre offers its products and services at various
tracks throughout the country. Jarrett/Favre shall employ a marketing
manager. These individuals will primarily be responsible with closing
the prospects created through promotion. These services will be sold
as corporate outings and directly to the public through various
marketing and advertising mediums such as television, radio, billboard,
newspaper, direct mail and on-site marketing.
Promotional and Licensing Agreements. In December 1998, Jarrett/Favre
entered into promotional and licensing agreements with Dale Jarrett,
Ned Jarrett, Glenn Jarrett, Jason Jarrett and Brett Favre
(individually, the "Licensor") whereby these individuals have granted
Jarrett/Favre the use of their names and likeliness in advertising,
products and promotional materials, as well as an agreed upon number of
appearances per year and an agreed upon number of radio and/or
television commercials as set out in each agreement. Ned Jarrett is
the father of Dale Jarrett and Glenn Jarrett. Dale Jarrett is the
father of Jason Jarrett.
Pursuant to these agreements, Jarrett/Favre has issued an aggregate of
5,500,000 Common Shares of Jarrett/Favre. The term of each agreement
is Ten (10) years unless sooner terminated by the occurrence of any of
the following:
(a) a material breach by Jarrett/Favre of the agreement which breach
has not been satisfied within thirty (30) days of receipt of written
notice from the Licensor;
(b) upon receipt of written notice from the Licensor if, as a result
of (i) any act or omission of Jarrett/Favre, (ii) any claim or charge
against Jarrett/Favre or (iii) any other occurrence or circumstances
involving Jarrett/Favre, the continued association of Licensor with
Jarrett/Favre would be detrimental to the value of the Licensed
Material or to Licensor's image or reputation;
(c) the failure of Jarrett/Favre to continually operate and manage the
business according to the policies, practices and standards agreed to
by the parties;
(d) the failure of Jarrett/Favre to raise the $100,000 in investment
capital; and
(e) the failure of Jarrett/Favre to comply with any laws and
regulations, the consequences of which are material adverse to
Jarrett/Favre.
During the term of the agreements, the Licensor agrees not to directly
or indirectly (whether for compensation or otherwise), provide
promotional appearances or services to any business which competes with
Jarrett/Favre's business of owning and managing driving schools.
Jarrett/Favre has also agreed not to issue any additional common shares
in Jarrett/Favre's stock to insiders, directors without the Licensor's
approval. Additionally, any and all future financings will be offered
to the Licensor prior to outside fullment. There will be no issuance
of preferred shares and/or warrants to insiders of Jarrett/Favre for at
least five (5) years from November 24, 1998.
Competition. The driving schools industry is currently experiencing a
limited degree of competition with regard to availability, price,
service, quality and location. There are two well-established market
leaders (Richard Petty Driving Experience and the Skip Barber Driving
<PAGE>8
School) that are nationally recognized and which possess substantially
greater financial, marketing personnel and other resources than
Jarrett/Favre. There are also a small number of local or regional
schools. Virtual reality driving experiences are also becoming more
and more realistic and therefore a growing competitor. It is also
likely that other competitors will emerge in the near future. There
is no assurance that Jarrett/Favre will compete successfully with other
established driving schools. Jarrett/Favre shall compete on the basis
of availability, price, service, quality and location. Inability to
compete successfully might result in increased costs, reduced yields
and additional risks to the investors herein.
Employees. Jarrett/Favre will employs seven full time employees
responsible for securing the Driving Adventure locations, procurement
of equipment, racecars, and the development and implementation of
Jarrett/Favre's marketing plan. Each active location will have up to
10 employees including but not limited to two mechanics, two driving
instructors, two administrators, a flagman, two salesmen, an accountant
and a site manager.
Additional employees and/or independent contractors will be obtained as
required.
Properties. Jarrett/Favre's executive offices are located at 3660
Maguire Boulevard, Suite 101, Orlando, Florida 32803. Jarrett/Favre
leases its office facilities under an operating lease through April 15,
2000. These facilities consist of 2000 square feet and are leased at
the monthly lease rate of $2,545. Jarrett/Favre also leases a garage
in Denver, NC located at 6652 Denver Industrial Park, Denver, NC 28037.
Certain Transactions. None
ELECTION OF BOARD OF DIRECTORS
Pursuant to the Bylaws, each Director shall serve until the annual
meeting of the stockholders, or until his successor is elected and
qualified. Jarrett/Favre's basic philosophy mandates the inclusion of
directors who will be representative of management, employees and the
minority shareholders of Jarrett/Favre. Directors may only be removed
for "cause". The term of office of each officer of Jarrett/Favre is
at the pleasure of Jarrett/Favre's Board.
The principal executive officers, directors and nominees of
Jarrett/Favre are as follows:
<TABLE>
<S> <C> <C>
Timothy B. Shannon, age 39 President, Director Inception to Present
Chief Executive Officer
Brian C. Rosenbloom, age 40 Vice President Inception to Present
Secretary/Treasurer/Director
Chief Financial Officer
Glenn Jarrett, age 50 Chief Operating Officer Inception to Present
Director
</TABLE>
Timothy B. Shannon. Mr. Shannon has been President, Director and
Chief Executive Officer of Jarrett/Favre since its inception.
Previously, Mr. Shannon has been employed in the investors relations
industry and previously served as Vice President and a principal of
Shannon/Rosenbloom Marketing, an Orlando, Florida investor relations
firm. From 1992 to 1994, Mr. Shannon was an investment advisor with
Great Western Financial Securities and Hearn Financial, a corporation
that he co-founded. Mr. Shannon spent six years as a systems engineer
and marketing representative with IBM after graduating in 1983 from the
University of South Florida with a degree in Computer Science.
Brian C. Rosenbloom. Mr. Rosenbloom has been Secretary/Treasurer,
Vice President, Chief Financial Officer and a Director of Jarrett/Favre
since its inception. Previously, Mr. Rosenbloom has been in the
investor relations industry and previously acted as President and a
principal of Shannon/Rosenbloom Marketing, an Orlando, Florida investor
relations firm. Prior to that, Mr. Rosenbloom has been involved in
the investment and finance industry working in various capacities. Mr.
Rosenbloom graduated from the University of Albany in 1982.
<PAGE>9
Glenn Jarrett. Mr. Jarrett has been Chief Operating Officer and a
Director of Jarrett/Favre since its inception. Mr. Jarrett works as an
auto racing announcer and consultant. Mr. Jarrett has been a senior
motorsports announcer for TNN since 1991. He is a motorsports
announcer (Pits) at contracted events and is the co-producer and co-
host of the "World of Racing" radio program on MRN radio which airs
weekdays. Mr. Jarrett has an extensive background in auto racing.
He drove in the NASCAR Busch Series from 1982 to 1988 and ran a total
of eighteen (18) NASCAR Winston Cup Races from 1977 to 1983. Mr.
Jarrett is the acting consultant and marketing coordinator for DAJ
Racing, Inc. and has been a guest speaker at many auto racing and
related functions. Mr. Jarrett graduated from the University of North
Carolina in 1972 with a Bachelor of Science degree in Business
Administration.
The Board of Directors unanimously recommends a vote FOR the re-
election of Timothy Shannon, Brian Rosenbloom and Glenn Jarrett to the
Board of Directors of Jarrett/Favre. Proxies solicited by management
will be so voted unless stockholders specify otherwise.
The affirmative vote of a majority of the shares of Common Stock of
Jarrett/Favre represented and voting at the Annual Meeting is required
for approval of the above Directors.
Approval of a 2001
Non-Statutory Stock Option Plan
Jarrett/Favre needs to continue to attract and retain persons of
experience and ability and whose services are considered valuable. In
addition Jarrett/Favre needs to continue to encourage the sense of
proprietorship in such persons and to stimulate the active interest of
such persons in the development and success of Jarrett/Favre. As a
result, the Board of Directors has approved the 2001 Non-Statutory
Stock Option Plan. The source of Common Shares to be reserved for
issuance under the 2001 Non-Statutory Stock Option Plan shall be a
portion of the currently authorized Common Shares. The Plan will
terminate on January 29, 2011 and no option may be granted pursuant to
the Plan thereafter.
Options are granted only to persons who are employees of Jarrett/Favre
or a subsidiary corporation of Jarrett/Favre (including any subsidiary
which may be organized or acquired subsequent to adoption of the Plan)
who agree to remain in the employ of, and render services to,
Jarrett/Favre or a subsidiary corporation of Jarrett/Favre for a
period of at least one (1) year from the date of the granting of the
option. The term "employees" shall include officers, directors,
executives, consultants, and supervisory personnel, as well as other
employees of Jarrett/Favre or a subsidiary corporation of
Jarrett/Favre.
The purchase price under each option issued is determined by a
Committee (of not less than three members, at least one of whom shall
be a Director of Jarrett/Favre), at the time the option is granted,
but in no event shall such purchase price be less than 85 percent of
the fair market value of Jarrett/Favre's Common Stock on the date of
the grant. All options issued under the Plan shall be for such
period as the Committee shall determine, but for not more than ten
(10) years from the date of grant thereof.
New Plan Benefits. The benefits or amounts that will be received by
or allocated to the executive officers, directors or employees cannot
be determined. At the end of each fiscal year, the compensation
committee determines who shall receive the options. The compensation
committee, which is composed of the Board of Directors, reviews all
employees after the end of each fiscal year. Particular attention is
paid to each employee's contribution to the current and future success
of Jarrett/Favre along with their salary level as compared to the
market value of personnel with similar skills. The compensation
committee also looks at accomplishments that are above and beyond
management's normal expectations for their position.
The Board of Directors unanimously recommends a vote FOR the approval
of the 2001 Non-Statutory Stock Option Plan. Proxies solicited by
management will be so voted unless stockholders specify otherwise.
<PAGE>10
The affirmative vote of a majority of the shares of common stock of
Jarrett/Favre represented and voting at the Annual Meeting is required
for approval of the 2001 Non-Statutory Stock Option Plan. The
Board of Directors recommends a vote FOR the proposed 2001 Non-
Statutory Stock Option Plan. Proxies solicited by management will be
so voted unless stockholders specify otherwise.
STOCK OWNERSHIP OF CERTAIN BENEFICIAL OWNERS
The following tabulates holdings of shares of Jarrett/Favre by each
person who holds of record or is known by Management to own
beneficially more than 5.0% of the common shares and, in addition, by
all directors and officers of Jarrett/Favre individually and as a
group. Each named beneficial owner has sole voting and investment
power with respect to the shares set forth opposite his name.
<TABLE>
<CAPTION>
Percentage of
Number & Class Outstanding
Name and Address of Shares Common Shares
<S> <C> <C>
Timothy Shannon 2,890,000 22.0%
3660 Maguire Blvd
Suite 101
Orland, Florida 32803
Brian Rosenbloom 2,930,000 22.3%
3660 Maguire Blvd
Suite 101
Orland, Florida 32803
Dale Jarrett 1,500,000 11.4%
3182 9th Tee Drive
Newton, NC 28658
Brett Favre 1,500,000 11.4%
132 Westover Drive
Hattiesburg, MS 39402
Ned Jarrett 1,000,000 7.6%
3182 9th Tee Drive
Newton, NC 28658
Glenn Jarrett 1,000,000 7.6%
3182 9th Tee Drive
Newton, NC 28658
All Directors & Officers
as a group (3 persons) 6,820,000 51.9%
</TABLE>
Pursuant to Rule 13d-3 under the Securities Exchange Act of 1934, as
amended, beneficial ownership of a security consists of sole or shared
voting power (including the power to vote or direct the voting) and/or
sole or shared investment power (including the power to dispose or
direct the disposition) with respect to a security whether through a
contract, arrangement, understanding, relationship or otherwise.
Unless otherwise indicated, each person indicated above has sole power
to vote, or dispose or direct the disposition of all shares
beneficially owned, subject to applicable unity property
laws.arrangement, understanding, relationship or otherwise. Unless
otherwise indicated, each person indicated above has sole power to
vote, or dispose or direct the disposition of all shares beneficially
owned, subject to applicable community property laws.
<PAGE>11
EXECUTIVE COMPENSATION. Since inception, the following cash
compensation has been paid by Jarrett/Favre to its officers and
directors, during which there were three (3) officers and three (3)
directors.
<TABLE>
<CAPTION>
Long Term Compensation
Annual Compensation Awards Payouts
(a) (b) (c) (d) (e) (f) (g) (h) (i)
Other All
Name Annual Restricted LTIP Other
and Compen- Stock Options/ Pay- Compen-
Principal Salary Bonus sation Awards SARs Outs sation
Position Year ($) ($) ($) ($) ($) ($) ($)
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Timothy B. Shannon
President
Chief Executive Officer 1999 $60,000 $30,000(1)
2000 $60,000 (2)
Brian C. Rosenbloom
Vice President
Secretary/Treasurer
Chief Financial Officer 1999 $60,000 $30,000(1)
2000 $60,000 (2)
Glenn Jarrett(3)
Chief Operating Officer 1999 $35,000
2000 0
</TABLE>
(1) At inception, Jarrett/Favre issued 6,000,000 Common Shares valued
at $60,000 in lieu of cash payment for services to Mr. Shannon
($30,000) and Mr. Rosenbloom ($30,000).
(2)Mr. Shannon and Mr. Rosenbloom returned 50,000 shares each to
Jarrett/Favre for cash in the aggregate of $99,000.
(3)Jarrett/Favre has entered into an agreement with Glenn Jarrett under
which he will receive the option to purchase 250,000 Common Shares of
Jarrett/Favre at an option exercise price of $2.50 per Common Share.
The term of the option is ten years.
Jarrett/Favre retains the right to increase or decrease the cash
compensation of its employees as necessitated by business conditions.
Jarrett/Favre has not entered into Employment Agreements with its
officers.
Board of Directors Compensation. Currently board members receive no
special compensation for meetings or time incurred. Director
liability insurance may be provided to all members of the Board of
Directors. No differentiation shall be made for any further
compensation of "outside directors" and those officers of
Jarrett/Favre serving in that capacity.
VOTING AND SOLICITATION OF PROXIES
Stockholders represented by properly executed proxies received by
Jarrett/Favre prior to or at the Meeting and not duly revoked will be
voted in accordance with the instructions thereon. If proxies will be
voted in instructions are indicated thereon, such proxies will be
voted in favor of Items 1 and 2, inclusive. Execution of a proxy will
not prevent a stockholder from attending the Meeting and revoking his
proxy by voting in person (although attendance at the Meeting will not
in itself revoke a proxy). Any stockholder giving a proxy may revoke
it at any time before it is voted by giving to Jarrett/Favre's
Secretary/Treasurer written notice bearing a later date than the
proxy, by delivery of a later dated proxy, or by voting in person at
the Meeting. Any written notice revoking a proxy should be sent to
Jarrett/Favre Driving Adventure, Inc., 3660 Maguire Boulevard, Suite
101, Orlando Florida 32803.
Jarrett/Favre's Board of Directors does not know of any other matters
which will be presented for consideration at the Meeting. However, if
any other matters which will be presented for consideration at the
Meeting. However, if any other matters are properly presented for
<PAGE>12
action at the Meeting, it is the intention of the person(s) named in
the accompanying Form of Proxy to vote the shares represented thereby
in accordance with their best judgment on such matters.
All costs relating to the solicitation of proxies made hereby will be
borne by Jarrett/Favre. Proxies may be solicited by officers and
directors of Jarrett/Favre personally, by mail or by telephone or
telegraph, and Jarrett/Favre may pay brokers and other persons holding
shares of stock in their names of those of their nominees for their
reasonable expenses in forwarding soliciting material to their
principals.
It is important that proxies be returned promptly. Stockholders who
do not expect to attend the Meeting in person are urged to sign and
date the accompanying Form of Proxy and mail it in a timely fashion so
that their vote can be recorded.
ADDITIONAL INFORMATION
Jarrett/Favre's Annual Report to Shareholders for the fiscal year
ended June 30, 2000, including the consolidated financial statements
and related notes thereto, together with the report of the
independent auditors and other information with respect to
Jarrett/Favre, accompanies this Proxy Statement.
OTHER MATTERS
Jarrett/Favre is not aware of any other business to be presented at
the Annual Meeting. If matters other than those described herein
should properly arise at the meeting, the proxies will vote on such
matters in accordance with their best judgment.
SHAREHOLDER PROPOSALS
Proposals by Shareholders intended to be presented at the 2001 Annual
Meeting must be received by Jarrett/Favre no later than November 15,
2001.
