Bob Rowe, CEO of Global Boatworks

In opening, I hope that each and every one of you had a safe and wonderful holiday season.
Now, on to the update…

If you have followed our Facebook and Twitter feeds, you can see that Luxuria is nearing completion. As per our discussions with everyone involved, the Luxuria will be available for charter or sale by 1 March of this year.

Completion of the vessel will actually occur much earlier, in fact, late this month. However, we are going to take the vessel through its paces to make sure everything is in good working order.

We have set up ads for the Luxuria for its availability on 1 March and we expect to go live with our first ad by the end of this week or early next week.

The Luxuria will be berthed at the Bahia Mar Resort and Yachting Center at Ft Lauderdale Beach, FL. The Bahia Mar Yacht Center is an upscale facility and is the ultimate Hotel and Marina destination in the heart of Fort Lauderdale, Florida. The property features a Hilton Hotel complete with restaurants, shops, swimming pool, tennis and is directly across the street from a pristine sand beach along the shore of the Atlantic Ocean.

The Luxuria will be berthed at the exclusive and upscale Bahia Mar Resort and Yachting Center

Guests of the Luxuria will have access to all of Bahia Mar’s facilities as well as parking and water taxi service.

We believe that having the Luxuria based at such a fine facility will make it even more attractive and will provide for a fine experience for our guests.

A Second Luxuria Class Vessel

For the last several weeks, we have been in negotiations with our investors with the objective of obtaining funding to enable us to start construction of a second Luxuria class vessel immediately. We are hopeful this investment will come through and be finalized soon. If so, we will announce via a news release.

Sales Price

The Luxuria sales price will be $1.5 million. In the previous update, we spelled out the reasons we would sell the first Luxuria class vessel outright. It would give us the capital to begin construction on a third and fourth vessel.

Charter Price

With regard to chartering of the vessel, we expect to get $1000-1500 per night and in some instances, during special events, up to $2000 per night. This would provide an annual charter income of over $200,000 at 50 percent occupancy calculated at the mid-point of $1250 per night.

Miss Leah

The Miss Leah is under a sales contract in Boston. Once sold, the funds will be used to liquidate short-term debt and provide us with additional working capital for construction of additional Luxuria class vessels.

Summary

Our Company is poised to begin earning substantially more revenues via the sale and charter of our custom floating homes. We are also in the position to achieve the funding necessary to construct additional luxury floating vessels to increase revenues going forward through 2017.
It is an exciting time for Global Boatworks and its shareholders and we are looking forward to a big 2017 and into the years beyond!

Sincerely,

Bob Rowe
CEO, Global Boatworks Holdings, Inc.