Blue Ridge Real Estate Company, or Blue Ridge, was incorporated in Pennsylvania in 1911 and is believed to be one of the largest owners of investment property in Northeastern Pennsylvania. At October 31, 2011, Blue Ridge owned 13,236 acres of land predominately located in the Pocono Mountains, along with 13 acres of land in various other states. Of this acreage, 10,159 acres were held for investment, 3,090 acres were held for development. Income is derived from these lands through leases, selective timbering by third parties, sales and other dispositions. Included in the properties owned by Blue Ridge are: the Jack Frost National Golf Course on 203 acres of land; 89 acres of land in Northeast Land Company of which 3 acres of land are held for investment and 86 acres of land are held for development, a commercial property comprised of 2.9 acres of vacant land; a shopping center with 9.4 acres; four residential investment properties; three retail stores, two of which are leased to Walgreen Company on 3.4 acres and one of which was leased to Jack in the Box on 1.2 acres; and the Jack Frost Mountain Ski Area which was leased to JFBB Ski Areas, Inc., an affiliate of Peak Resorts. On November 29, 2011, Blue Ridge sold the retail store which was leased to Jack in the Box. On December 15, 2011, Blue Ridge sold the Jack Frost Mountain Ski Area, on approximately 201 acres of land, to JFBB Ski Areas, Inc. and the lease was terminated.

Big Boulder Corporation, or Big Boulder, was incorporated in Pennsylvania in 1949. At October 31, 2011, Big Boulder’s primary asset was 864 acres of land, which included a 175-acre lake, the Big Boulder Ski Area which was leased to JFBB Ski Areas, Inc., an affiliate of Peak Resorts, and Boulder View Tavern (formerly known as the Mountain’s Edge Restaurant). Of the 864 acres, 560 acres were held for investment and 304 acres were held for development. The principal source of revenue for Big Boulder is the sale of residential homes and real estate in close proximity to the Big Boulder Ski Area. On December 15, 2011, Big Boulder sold the Big Boulder Ski Area, on approximately 110 acres of land, to JFBB Ski Areas, Inc. and the lease was terminated.

Our principal executive offices are located at Route 940 and Mosey Wood Road, Blakeslee, Pennsylvania 18610, and our telephone number is (570) 443-8433.