|   | x | Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|--------|---|-----------------------------------------------------------------------------------------|

|   |  ̈ | Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
|--------|--------|------------------------------------------------------------------------------------------|

| Nevada                          | 98-0230423             |
|---------------------------------|------------------------|
| (State or other jurisdiction of | (I.R.S. Employer       |
| incorporation or organization)  | Identification Number) |

| 11100 W. 8th Avenue, Suite 200          |       |
|-----------------------------------------|------------|
| Lakewood, CO                            | 80215      |
| (Address of principal executive office) | (Zip Code) |

| Large accelerated filer                       | o      | Accelerated filer         | o |
|-----------------------------------------------|--------|---------------------------|---|
| Non-accelerated filer                         | o      | Smaller reporting company | x |
| (Do not check if a smaller reporting company) |   |

----

|                                     | Page                                                                                                       |
|------------------------------------------|------------------------------------------------------------------------------------------------------------|
| PART I.  FINANCIAL INFORMATION |                                                                                                       |
|                                     |                                                                                                       |   |
| Item 1.                                  | Financial Statements (unaudited)                                                                           |   |
|                                     |                                                                                                       |   |
|                                     | Balance Sheets – June 30, 2011 and December 31, 2010                                                 | 3 |
|                                     |                                                                                                       |   |
|                                     | Statements of Operations - for the three and six months ended June 30, 2011 and 2010                       | 4 |
|                                     |                                                                                                       |   |
|                                     | StStatements of Changes in Stockholder’s Equity (Capital Deficit) – Inception to June 30, 2011 | 5 |
|                                     |                                                                                                       |   |
|                                     | Statements of Cash Flows - for the six months ended June 30, 2011 and 2010 and inception to June 30,2011   | 6 |
|                                     |                                                                                                       |   |
|                                     | Notes to Unaudited Financial Statements                                                                    | 7 |
|                                     |                                                                                                       |   |
| Item 2.                                  | Management’s Discussion and Analysis of Principal Condition and Operations                           | 9 |
|                                     |                                                                                                       |   |
| Item 3.                                  | Quantitative and Qualitative Disclosures About Market Risk                                                 | 13 |
|                                     |                                                                                                       |   |
| Item 4.                                  | Controls and Procedures                                                                                    | 13 |
|                                     |                                                                                                       |   |
| PART II.                                 | OTHER INFORMATION                                                                                          |    |
|                                     |                                                                                                       |   |
| Item 1.                                  | Legal Proceedings                                                                                          | 14 |
|                                     |                                                                                                       |   |
| Item 1A.                                 | Risk Factors                                                                                               | 14 |
|                                     |                                                                                                       |   |
| Item 2.                                  | Unregistered Sales of Equity Securities and Use of Proceeds                                                | 14 |
|                                     |                                                                                                       |   |
| Item 3.                                  | Defaults upon Senior Securities                                                                            | 14 |
|                                     |                                                                                                       |   |
| Item 4.                                  | (REMOVED AND RESERVED)                                                                                     | 14 |
|                                     |                                                                                                       |   |
| Item 5.                                  | Other Information                                                                                          | 14 |
|                                     |                                                                                                       |   |
| Item 6.                                  | Exhibits                                                                                                   | 14 |
|                                     |                                                                                                       |   |
| SIGNATURES                               | 15                                                                                                         |

----

| MOTOR SPORTS COUNTRY HOLDINGS, INC.                                                 |   |                           |       |   |                        |   |
|-------------------------------------------------------------------------------------|--------|--------------------------------|------------|--------|-----------------------------|--------|
| (A DEVELOPMENT STAGE COMPANY)                                                       |   |                           |       |   |                        |   |
| BALANCE SHEET                                                                       |   |                           |       |   |                        |   |
| (Expressed in US Dollars)                                                           |   |                           |       |   |                        |   |
|                                                                                |   | June 30, 2011 (UNAUDITED) |       |   | December 31, 2010 (AUDITED) |   |
|                                                                                |   |                           |       |   |                        |   |
| ASSETS                                                                              |   |                           |       |   |                        |   |
|                                                                                |   |                           |       |   |                        |   |
| CURRENT ASSETS                                                                      |   |                           |       |   |                        |   |
| Cash and cash equivalents                                                           |   | $                              | 43,316     |   |                        | $      | 32,737 |   |
| Total current assets                                                                |   |                           | 43,316     |   |                        |   | 32,737 |   |
|                                                                                |   |                           |       |   |                        |   |   |   |
| TOTAL ASSETS                                                                        |   |                           | 43,316     |   |                        |   | 32,737 |   |
|                                                                                |   |                           |       |   |                        |   |   |   |
| CURRENT LIABILITIES                                                                 |   |                           |       |   |                        |   |   |   |
| Accounts payable                                                                    |   | $                              | 33,757     |   |                        | $      | - |   |
| Deferred compensation payable                                                       |   |                           | 256,750    |   |                        |   | 138,250 |   |
| Short-term loans from related parties                                               |   |                           | 437,441    |   |                        |   | 341,476 |   |
| Credit cards payable - American Express                                             |   |                           | 482        |   |                        |   | - |   |
| Total current liabilities                                                           |   |                           | 728,430    |   |                        |   | 479,726 |   |
|                                                                                |   |                           |       |   |                        |   |   |   |
| STOCKHOLDERS' EQUITY                                                                |   |                           |       |   |                        |   |   |   |
| Common stock, $0.001 par value, 23,858,845 shares issued and outstanding as of June |   |
| 30, 2011 and December 31, 2010                                                      |   |                           | 23,859     |   |                        |   | 23,859 |   |
| Member's Equity                                                                     |   |                           | -          |   |                        |   | - |   |
| Additional paid-in capital                                                          |   |                           | 356,159    |   |                        |   | 356,159 |   |
| Accumulated (deficit)                                                               |   |                           | (1,065,132 | )      |                        |   | (827,007 | ) |
|                                                                                |   |                           |       |   |                        |   |   |   |
|                                                                                |   |                           |       |   |                        |   |   |   |
| Total stockholders' equity                                                          |   |                           | (685,114   | )      |                        |   | (446,989 | ) |
|                                                                                |   |                           |       |   |                        |   |   |   |
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY                                          |   | $                              | 43,316     |   |                        | $      | 32,737 |   |

----

| MOTOR SPORTS COUNTRY HOLDINGS, INC.             |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |
|-------------------------------------------------|--------|--------------------------------|------------|--------|---------------------------|--------|------------|--------------------------------|--------|--------|---------------------------|--------|--------|
| (A DEVELOPMENT STAGE COMPANY)                   |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |
| STATEMENTS OF OPERATIONS                        |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |
| (Expressed in US Dollars, except share amounts) |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |
|                                            |   | For the three months ended     |       |   | For the six months ended  |   |       |                           |   |
|                                            |   | June 30, 2011 (UNAUDITED) |       |   | June 30, 2010 (UNAUDITED) |   |       | June 30, 2011 (UNAUDITED) |   |   | June 30, 2010 (UNAUDITED) |   |   | August 23, 2007 (INCEPTION) through June 30, 2011 |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |
| OPERATING EXPENSES                              |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |
| Advertising and Promotion                       |   | $                              | -          |   |                      | $      | (32,022    | )                              |   | $      | -                         |   |   | $ | (38,189 | ) |   | $ | (137,867 | ) |
| Land option expense                             |   |                           | -          |   |                      |   | -          |                           |   |   | -                         |   |   |   | - |   |   |   | (15,000 | ) |
| Sales, general and administrative               |   |                           | (11,972    | )      |                      |   | (28,667    | )                              |   |   | (15,904                   | )      |   |   | (31,938 | ) |   |   | (96,536 | ) |
| Compensation and Professional Fees              |   |                           | (134,626   | )      |                      |   | (139,619   | )                              |   |   | (222,221                  | )      |   |   | (276,185 | ) |   |   | (822,269 | ) |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| OPERATING LOSS                                  |   |                           | (146,598   | )      |                      |   | (200,309   | )                              |   |   | (238,125                  | )      |   |   | (346,312 | ) |   |   | (1,071,672 | ) |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| NET LOSS FROM CONTINUING OPERATIONS             |   |                           | (146,598   | )      |                      |   | (200,309   | )                              |   |   | (238,125                  | )      |   |   | (346,312 | ) |   |   | (1,071,672 | ) |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| NON-OPERATING INCOME (EXPENSE)                  |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| Interest income (expense)                       |   |                           | -          |   |                      |   | -          |                           |   |   | -                         |   |   |   | 27 |   |   |   | 6,540 |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| Net Income (Loss)                               |   | $                              | (146,598   | )      |                      | $      | (200,309   | )                              |   | $      | (238,125                  | )      |   | $ | (346,285 | ) |   | $ | (1,065,132 | ) |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| BASIC LOSS PER SHARE                            |   | $                              | (0.01      | )      |                      | $      | (0.01      | )                              |   | $      | (0.01                     | )      |   | $ | (0.03 | ) |   |   |   |   |
|                                            |   |                           |       |   |                      |   |       |                           |   |   |                      |   |   |   |   |   |   |   |   |   |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING      |   |                           | 23,858,845 |   |                      |   | 16,989,610 |                           |   |   | 23,858,845                |   |   |   | 13,809,949 |   |   |   |   |   |

----

| MOTOR SPORT COUNTRY CLUB HOLDINGS, INC.         |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |
|-------------------------------------------------|--------|-------------------------------|------------|--------|------------------------------|--------|----------|-----------------------------------------|--------|--------|--------------------------------------------------|--------|--------|-----------|--------|--------|
| (A DEVELOPMENT STAGE COMPANY)                   |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |
| STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY    |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |
| (Expressed in US Dollars, except share amounts) |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |
|                                            |   |                          |       |   |                         |   |     | Motor Sport Country Club Holdings, Inc. |   |   |                                             |   |   |      |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |
|                                            |   | Motor Sport Country Club, LLC |       |   | Common Stock                 |   |     | Additional Paid - in capital            |   |   | Deficit Accumulated During the Development Stage |   |
|                                            |   | Member Capital Contributions  |       |   | Member Capital Distributions |   |     | Shares                                  |   |   | Amount                                           |   |   | Par Value |   |   |   |   |   | Total |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |
|  Inception, August 23, 2007                |   | $                             | -          |   |                         | $      | -        |                                    |   |   | -                                                |   |   | $         | -      |   |   | $ | - |   |   | $ | - |   |   | $ | - |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Contributions                             |   |                          | 310,895    |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | 310,895 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Distributions                             |   |                          |       |   |                         |   | (63,073  | )                                       |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | (63,073 | ) |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss for period                       |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   | (76,805 | ) |   |   | (76,805 | ) |
|  Balance - December 31, 2007               |   |                          | 310,895    |   |                         |   | (63,073  | )                                       |   |   | -                                                |   |   |      | -      |   |   |   | - |   |   |   | (76,805 | ) |   |   | 171,017 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Contributions                             |   |                          | 125,960    |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | 125,960 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Distributions                             |   |                          |       |   |                         |   | (178,146 | )                                       |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | (178,146 | ) |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss for the year                     |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   | (93,283 | ) |   |   | (93,283 | ) |
|  Balance - December 31, 2008               |   |                          | 436,855    |   |                         |   | (241,219 | )                                       |   |   | -                                                |   |   |      | -      |   |   |   | - |   |   |   | (170,088 | ) |   |   | 25,548 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Contributions                             |   |                          | 418,316    |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | 418,316 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Distributions                             |   |                          |       |   |                         |   | (306,611 | )                                       |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | (306,611 | ) |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss for the year                     |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   | (79,530 | ) |   |   | (79,530 | ) |
|  Balance - December 31, 2009               |   |                          | 855,171    |   |                         |   | (547,830 | )                                       |   |   | -                                                |   |   |      | -      |   |   |   | - |   |   |   | (249,618 | ) |   |   | 57,723 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Contributions                             |   |                          | 181,256    |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | 181,256 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Distributions                             |   |                          |       |   |                         |   | (20,386  | )                                       |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   | (20,386 | ) |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss for period                       |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   | (145,976 | ) |   |   | (145,976 | ) |
|  Balance - March 31, 2010                  |   |                          | 1,036,427  |   |                         |   | (568,216 | )                                       |   |   | -                                                |   |   |      | -      |   |   |   | - |   |   |   | (395,594 | ) |   |   | 72,617 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Effect of reverse merger                        |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |
| with Victoria Industries,                       |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |
| Inc., the "legal" acquirer,                     |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |
|    on May 17, 2010               |   |                          | (1,036,427 | )      |                         |   | 568,216  |                                    |   |   | 23,858,845                                       |   |   |      | 23,859 |   |   |   | 356,159 |   |   |   | 145,976 |   |   |   | 57,783 |   |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss for period                       |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   | (577,389 | ) |   |   | (577,389 | ) |
|  Balances - December 31, 2010              |   |                          | -          |   |                         |   | -        |                                    |   |   | 23,858,845                                       |   |   |      | 23,859 |   |   |   | 356,159 |   |   |   | (827,007 | ) |   |   | (446,989 | ) |
|                                            |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|  Net loss for period                       |   |                          |       |   |                         |   |     |                                    |   |   |                                             |   |   |      |   |   |   |   |   |   |   |   | (238,125 | ) |   |   | (238,125 | ) |
|  Balances - June 30, 2011                  |   | $                             | -          |   |                         | $      | -        |                                    |   |   | 23,858,845                                       |   |   | $         | 23,859 |   |   | $ | 356,159 |   |   | $ | (1,065,132 | ) |   | $ | (685,114 | ) |

----

| MOTOR SPORT COUNTRY CLUB HOLDINGS, INC                                                           |   |                           |     |    |                      |   |     |                                              |   |
|--------------------------------------------------------------------------------------------------|--------|--------------------------------|----------|---------|---------------------------|--------|----------|---------------------------------------------------|--------|
| (A DEVELOPMENT STAGE COMPANY)                                                                    |   |                           |     |    |                      |   |     |                                              |   |
| STATEMENTS OF CASH FLOWS                                                                         |   |                           |     |    |                      |   |     |                                              |   |
| (Expressed in US Dollars)                                                                        |   |                           |     |    |                      |   |     |                                              |   |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |
|                                                                                             |   | For the six months ended       |     |    |                      |   |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |
|                                                                                             |   | June 30, 2011 (UNAUDITED) |     |    | June 30, 2010 (UNAUDITED) |   |     | August 23, 2007 (INCEPTION) through June 30, 2011 |   |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |
| CASH FLOWS FROM OPERATING ACTIVITIES                                                             |   |                           |     |    |                      |   |     |                                              |   |
| Net income (loss)                                                                                |   | $                              | (238,125 | )       |                      | $      | (346,285 | )                                                 |   | $ | (1,065,132 | ) |
| Adjustments to reconcile net loss from continuing operations to net cash in operating activities |   |                           |     |    |                      |
| Changes in current assets and liabilities:                                                       |   |                           |     |    |                      |   |     |                                              |   |   |   |   |
| Contributed capital by former majority shareholder in debt forgiveness                           |   |                           |     | 101,746 |                      |   |     |                                              |   |
| Increase (decrease) in credit card balance                                                       |   |                           | 482      |    |                      |   |     |                                              |   |   | 482 |   |
| Increase (decrease) in loans from related parties                                                |   |                           | 95,965   |    |                      |   | -        |                                              |   |   | 437,441 |   |
| Increase (decrease) in Deferred compensation payable                                             |   |                           | 118,500  |    |                      |   |     |                                              |   |   | 256,750 |   |
| Increase (decrease) in accounts payable and accrued expenses                                     |   |                           | 33,757   |    |                      |   | 106,063  |                                              |   |   | 33,757 |   |
| Cash used in operating activities of continuing operations                                       |   |                           | 10,579   |    |                      |   | (138,476 | )                                                 |   |   | (336,702 | ) |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |   |   |   |
| CASH FLOWS FROM FINANCING ACTIVITIES                                                             |   |                           |     |    |                      |   |     |                                              |   |   |   |   |
| Net cash investment by sole member prior to public merger on 5/17/10                             |   |                           | -        |    |                      |   | 225,400  |                                              |   |   | 380,018 |   |
| Cash provided by financing activities                                                            |   |                           | -        |    |                      |   | 225,400  |                                              |   |   | 380,018 |   |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |   |   |   |
| INCREASE (DECREASE) IN CASH:                                                                     |   |                           | 10,579   |    |                      |   | 86,924   |                                              |   |   | 43,316 |   |
| CASH, at the beginning of the period                                                             |   |                           | 32,737   |    |                      |   | -        |                                              |   |   | - |   |
|                                                                                             |   |                           |     |    |                      |   |     |                                              |   |   |   |   |
| CASH, at the end of the period                                                                   |   | $                              | 43,317   |    |                      | $      | 86,924   |                                              |   | $ | 43,316 |   |

----

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|                                |   | Six MonthsEnded 6/30/11 |    |
|-------------------------------------|--------|-------------------------|---------|
|                                |   |                    |    |
| Current operations                  |   | $                       | (80,963 | ) |
| Less, Nondeductible expenses        |   |                    | -       |   |
| Less, Change in valuation allowance |   |                    | 80,963  |   |
|                                |   |                    |    |   |
|                                |   |                    |    |   |
| Net refundable amount               |   |                    | -       |   |
|                                |   | $                       |    |   |

|                                |   | Six MonthsEnded 6/30/11 |                |
|-------------------------------------|--------|-------------------------|---------------------|
| Deffered tax asset attributable to: |   |                    |                |   |
| Net operating loss carry over       |   |                    |  (784,352      | ) |
| Less, Valuation allowance           |   |                    |   784,352 |   |
| Net deferred tax asset.             |   |                    |  -             |   |

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|            |   | Greater of: |
|-----------------|--------|-------------|
| Due July 31 of: |   | % Royalty   |   | Minimum Royalty |
| 2012            |   | 5           |   | $25,000 |
| 2013            |   | 5           |   | $50,000 |
| 2014            |   | 10          |   | $60,000 |
| 2015            |   | 10          |   | $70,000 |
| 2016            |   | 10          |   | $80,000 |
| 2017            |   | 15          |   | $90,000 |
| 2018            |   | 15          |   | $100,000 |
| 2019            |   | 15          |   | $110,000 |
| 2020            |   | 20          |   | $120,000 |
| 2021            |   | 20          |   | $130,000 |

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| ● | Initiation fees and annual dues – Rather than having to wait for a track event being organized by a car club, track time will be available to be booked online or via a call to the track concierge. Members will essentially have unlimited track time. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Non-member track rentals – Non-member track rental will be available but will be very limited. |
|---------|------------------------------------------------------------------------------------------------------|

| ● | Garage rental and sales – A number of members will have dedicated track cars that they will opt to leave at the club. Many race teams need to rent garage space to service their cars and for storage. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Residence rentals and sales – Members and their guests will likely stay at the resort for several days. A residence club is planned to accommodate their needs. |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ● | Other sources – Revenue will include sales generated by the driving school, service garage, pro shop, restaurants, and lodging. |
|---------|---------------------------------------------------------------------------------------------------------------------------------------|

| ● | Land sales – The Company has planned more than 1,000 acres designated for home sites, and an exclusive residential community. |
|---------|-------------------------------------------------------------------------------------------------------------------------------------|

| ● | Events – The Company anticipates that the club will bring in a major series event, as well as automobile manufacturers having launch events. |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------|

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| Number |   | Description                                                                                                                                            |
|--------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------|
| 31.1   |   | Certification as Adopted Pursuant to Section 302(a) of the Sarbanes-Oxley Act of 2002 by Chief Executive Officer.                                      |
|   |   |                                                                                                                                                   |
| 32.1   |   | Certification Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 by the Chief Executive Officer. |

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|                   | MOTOR SPORT COUNTRY CLUB HOLDINGS, INC. |                                                                                         |
|------------------------|-----------------------------------------|----------------------------------------------------------------------------------------------|
|                   |                                    |                                                                                         |   |
| Dated: August 18, 2011 | By:                                     | /s/ Claus Wagner                                                                             |   |
|                   |                                    | Name: Claus Wagner                                                                           |   |
|                   |                                    | Title: Chief Executive Officer (Principal Executive Officer and Principal Financial Officer) |   |
|                   |                                    |                                                                                         |   |