Football Equities, Inc., formerly The Orlando Predators Entertainment, Inc., is engaged the sports and entertainment business. The Co. owns and operates the Orlando Predators (the Predators), a professional arena football team of the Arena Football League (AFL); owns and operates two minor league teams of the arenafootball2 League (af2), the Peoria Pirates, which commenced play in the 2001 season, and the Bayou Bears, which are scheduled to commence play in the 2004 season; owns and operates the Louisiana IceGators of the East Coast Hockey League (ECHL), and owns an additional approximate 9% net revenue interest in the AFL (in addition to its approximate 4.5% AFL ownership interest it holds through the Predators). In February 2003, the Company sold the Predators to Orlando Predators Football Team, LLC. In May 2003, the Company sold the IceGators to Gator Play, L.L.C.
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