Rotary Program: 3/22/06

Program Chairperson: Frank Welch

Speaker(s): Kitty White, Host of the Mountain Ingenuity Venture Capital Club Members

[Jerry McCoy, McCoy Motor Sports], [Rick Jones, US WorldMeds, LLC], and

[Dr. W. Parker Tiller, WVVK - TV 45]

Kitty White, introduced three speakers that would tell us more about their businesses and how the MIVCC helped them become what they are today.

Jerry McCoy spoke about how McCoy Motorsports started as just a family building a race car in their garage that turned into a very successful aftermarket parts business. He brought with him his son, Mike, who is the purchasing and marketing director, his brother Randy, who is the shop foreman and head of the fabrication / research and development department, and Randy’s son, Shane, who heads up their web development and internet department. It has now grown into a business that devotes nearly 90% of their volume in selling parts for motorcycles and building custom bikes for their customers. You can check them out in more detail at www.tobefast.com.

Rick Jones heads the Louisville, Kentucky based pharmaceutical company called US World Meds, LLC, a company in which nearly $ 6 Million has been invested in the research and development of new drugs, especially two such formulas that are ready to be put on the market in the next few months, pending approval from the FDA and the successful completion of clinical trials. The first will be marketed under the name of Lofexidine, a drug that counteracts the effects of withdrawal from opium based drugs so that addicts can be more successful in being rehabilitated and get off the drugs for good. It is expected to earn $50 Million for the company in the first year on the market. The other is a generic form of flucouazole in a pre-mixed bag application that is expected to generate between $18 Million to $24 Million.

Dr. Parker Tiller, a life-long educator and former radio announcer from right here in Pikeville, announced the construction of a new television station that will reach 10 Kentucky counties, and 3 counties each in West Virginia and Virginia. Hence the name, WVVK-TV, channel 45 will be devoted to programming from the America -One Network, which will broadcast situation comedies, news, and sports, but will also give air time to local churches, High School and College sports, and local government meetings. The 10,000 sq. ft. building that will house the studio and offices will be located right here in the city of Pikeville and the signal will travel via a fiber-optic line to the tower located in the Flatwoods area on a hill 2800 feet above sea level. The viewing area is expected to be in excess of 5,000 square miles at 150,000 watts of power.

All these businesses are now or will be members of the Mountain Ingenuity Venture Capital Club and each of us are encouraged to be a part of the incredible growth in any way possible. At least we can attend the meetings of the MIVCC and become more acquainted about the ways they are helping raise the needed capital that will bring new business ventures to our community. - JMC