Las Vegas Railway Express (OTCMKTS:XTRN) has turned into a sad story for all the loyal shareholders who supported this stock with the dream of building a luxury train service called the “X Train,” from the Los Angeles basin to Las Vegas.
The filing the Company issued in December says it all; ”increasing the amount of common stock that the Company is authorized to issue from 500,000,000 to 10,000,000,000. Debt conversions now rule the day at XTRN which has lost over 70% of its value in recent days.
Las Vegas Railway Express (OTCMKTS:XTRN) is a fascinating story developing way down in sub penny stock land; XTRN is busy developing a luxury train service called the “X Train,” from the Los Angeles basin to Las Vegas. The planned service will utilize conventional rail rights of way and passenger rail equipment — outfitted in a First Class configuration — to deliver a new, exciting and cost efficient way to travel to Las Vegas.
Back in 2012 the Company executed an agreement with Union Pacific Railroad which allowed XTRN to operate its passenger service on their property from Daggett, California to Las Vegas, a distance of 175.8 miles. The plan to go with Pacific Railroad via Cajon Pass had to be cancelled after BNSF Railway nixed the plan.
XTRN was in limbo until October 21 of this year when XTRN announced it has begun the engineering of the route to Las Vegas via conventional rail on what it calls the Western Alignment. This pass travels to Las Vegas via Lancaster & then east to Barstow before it turns north to Las Vegas.
CEO of XTRN, Michael Barron, an entrepreneur largely involved in real estate, stated “We have spent the last year re-tooling our efforts to run the X Train service between Los Angeles and Las Vegas and based on the findings of UNLV’s Rail Engineering Group, have concluded that the route from LA to Mojave to Barstow to Las Vegas would avoid the rail traffic of the Cajon Pass,”
Anyone who has lived in Southern California and likes to spend time in Las Vegas can immediately see the incredible potential of XTRN planned luxury train service; traffic in Southern California is completely out of hand and so is I-15 to Vegas and taking a luxury train would be so much more convenient.
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XTRN owns outright a series of 16 bi-level passenger railcars as well as two leased cars acquired through an agreement with Mid America Leasing Company. These cars are planned for use in the deployment of cars on our LA to Vegas route. The first two cars have been completed and are in service on the Santa Fe Southern Railway. The remaining cars are scheduled to be refurbished during the remainder of 2015.
There has been no regular passenger rail service between these two demographic areas for 13 years. 15 million people a year drive that route and its only getting more congested.
If the X Train comes to fruition it will create a significant economic impact on Vegas; the project would invest $200 million in the Las Vegas community. This is a great plan for Vegas, the project requires no massive construction projects or billions in Federal funds for us; It’s privately financed and runs on existing tracks.
Currently drifting into oblivion XTRN has turned into a sad story for all the loyal shareholders who supported this stock with the dream of building a luxury train service called the “X Train,” from the Los Angeles basin to Las Vegas. Debt conversions now rule the day as XTRN sinks lower with an eye on 0 bid. We will be updating on XTRN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with XTRN.
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Disclosure: we hold no position in XTRN either long or short and we have not been compensated for this article.