Jarrett Racing Adventure may have to close

UPDATE Dale Jarrett Racing Adventure says "We are not closing, in fact we are expanding our business:" Dale Jarrett Racing Adventure, a company that has provided the thrill of driving a Nextel Cup car around NASCAR tracks nationwide to thousands of customers over the last 5 years, is going strong and growing every year. Dale Jarrett Racing Adventure is a publicly traded company under the symbol DJRT and files financial reports with the SEC every quarter. According to Tim Shannon, President, "Our first quarter, being winter, is traditionally our slowest. This is when the auditor usually is required to add the "going concern" statement which is based on only a few factors and does not accurately reflect the entire dynamic of the company. We have grown by 35% and more every year of the last four and have not had to raise any outside capital in the process and have no plans to do so in the near future. In fact, we are so pleased with our development that we have implemented a strategy to expand our business into other areas where the respected Dale Jarrett brand can bring benefit to companies and shareholders alike." Readers are encouraged to not only review all Dale Jarrett Racing Adventure filings with the SEC but to visit their website for more information about their unique product which features side by side racing and passing at www.racingadventure.com Dale Jarrett Racing Adventure, 888-GO-RACE-1. 06/03/05 Dale Jarrett Racing Adventure Inc. incurred a net loss for the quarter ended March 31 and says its auditors have expressed reservations about the company's ability to continue operating. The Denver, N.C., company, which operates a stock-car fantasy driving school at several tracks around the country, including one at Lowe's Motor Speedway, says in its SEC filing it has experienced a significant loss from operations, a result of investments necessary to achieve its operating plan. From the company's creation in 1998 through March 31, Dale Jarrett Racing has incurred net losses of nearly $4.8 million. The company has a working capital deficit of more than $1 million. The company says failure to secure equity financing, raise additional capital or attain profitable operations may result in the company depleting its available funds and not being able pay its obligations. This month, Dale Jarrett Racing announced it changed from a fiscal year ending June 30 to a calendar year ending Dec. 31 to better coincide with business planning and strategy. Business Journal