For SEC reporting purposes -- Effective March 21, 2006, the Company registered under the Investment Company Act of 1940 as a non-diversified closed-end management investment company. Prior to March 21, 2006, the Company was registered and reported under the Securities Exchange Act of 1934.

It is the Company’s intention, when eligible, to reregister and report under the Securities Exchange Act of 1934.

American Vantage Companies (collectively) includes the following:

Parent // executive group – Board of Directors / Executive Group

Brownstone GoldTown, LLC – Casino and Resort Ownership, Development and/or Management – On July 2, 2007, we announced the pre-development of the GoldTown Hotel & Casino Resort project. GoldTown is a two phase project with an estimated Phase I construction cost of $125 million. GoldTown will be located on a 45+ acre parcel in Douglas County, within minutes of Nevada’s capital, Carson City, and major routes leading to Lake Tahoe, San Francisco, Sacramento and Reno. 

Preliminary Phase I plans include 300 hotel rooms and suites, 92,000 square feet of casino space, 1,000 slot and video poker machines, 24 to 30 table games, a 350-seat bingo parlor, 6-table poker room, race and sports book, 250-seat celebrity concert stage and lounge, restaurants and convention facility.

Brownstone, LLC -- Tribal Gaming Development, Consulting and/or Management – Current project includes a development and structuring agreement with the Big Sandy Rancheria Tribe of Western Mono Indians that provides (i) a development fee for developing, constructing, equipping and opening of a casino resort in Friant near Fresno, California; and, (ii) a structuring fee on the gross amount of the initial, interim and permanent financings currently anticipated to aggregate approximately $375 million.

Candidates on Demand Group, Inc. – National Recruiting and Temporary Placement Firm – Acquired in September 2007, Candidates on Demand Group, Inc. is a wholly-owned subsidiary with several U.S. offices including its main corporate office located in New York City. Visit www.codgi.com. For SEC reporting purposes, the Company reports its investment in Candidates on Demand Group, Inc. at its fair value.

Border Grill Las Vegas Restaurant – “Hip, Urban” Mexican restaurant located on the Las Vegas ‘Strip’ in the Mandalay Bay Resort and Casino – In 1999, the Company partnered (49% equity interest) with Chefs Susan Feniger and Mary Sue Milliken, Food Network’s “Too Hot Tamales,” in opening the Border Grill Las Vegas Restaurant. Visit www.bordergrill.com. 

For SEC reporting purposes, the Company reports its investment in the Border Grill Las Vegas Restaurant at its fair value.