10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 10-Q

(Mark one)

þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2008

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from                      to                     

COMMISSION FILE NUMBER: 2-65481

SADDLEBROOK RESORTS, INC.

(Exact name of registrant as specified in its charter)

Florida	59-1917822
(State of incorporation)	(IRS employer identification no.)

5700 Saddlebrook Way, Wesley Chapel, Florida 33543-4499
(Address of principal executive offices)

813-973-1111

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES þ  NO o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one):

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

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES o  NO þ

Registrant has 100,000 shares of common stock outstanding, all of which are held by an affiliate of the Registrant.

INDEX

	Page
PART I — FINANCIAL INFORMATION
Item 1. Financial Statements
Saddlebrook Resorts, Inc.
Balance Sheets at June 30, 2008 and December 31, 2007		3
Statements of Operations and Accumulated Earnings for the three months and six months ended June 30,2008 and 2007		4
Statements of Cash Flows for the six months ended June 30, 2008 and 2007		5
Notes to Financial Statements		6
Saddlebrook Rental Pool Operation
Balance Sheets at June 30, 2008 and December 31, 2007		9
Statements of Operations for the three months and six months ended June 30, 2008 and 2007		10
Statements of Changes in Participants’ Fund Balance for the six months ended June 30, 2008 and 2007		11
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations		12
Item 3. Quantitative and Qualitative Disclosures about Market Risk		14
Item 4. Controls and Procedures		14
PART II — OTHER INFORMATION
Item 1. Legal Proceedings		14
Item 6. Exhibits		15
Signature		15
EX-31.1 SECTION 302 CERTIFICATION OF THE CEO
EX-31.2 SECTION 302 CERTIFICATION OF THE CFO
EX-32.1 SECTION 906 CERTIFICATION OF THE CEO
EX-32.2 SECTION 906 CERTIFICATION OF THE CFO

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PART I — FINANCIAL INFORMATION

Item 1. Financial Statements

SADDLEBROOK RESORTS, INC.

BALANCE SHEETS

	June 30,
	2008		December 31,
	(Unaudited)		2007
Assets
Current assets:
Cash and cash equivalents	$	4,935,995	$	991,320
Escrowed cash		879,103		890,069
Short-term investments		175,000		175,000
Short-term escrowed investments		196,795		—
Accounts receivable, net		4,651,893		3,200,585
Due from related parties		2,897,134		2,228,553
Inventory and supplies		1,738,090		1,679,645
Prepaid expenses and other current assets		1,041,874		756,956
Total current assets		16,515,884		9,922,128
Property, buildings and equipment, net		25,380,415		25,493,141
Deferred charges, net		23,868		32,022
Total assets	$	41,920,167	$	35,447,291
Liabilities and Shareholder’s Equity
Current liabilities:
Current portion of note payable	$	800,004	$	800,004
Current portion of capital leases		59,008		127,845
Current portion of line of credit		2,500,000		1,750,000
Escrowed deposits		1,075,897		890,069
Accounts payable		1,159,936		1,668,050
Accrued rental distribution		1,450,371		905,234
Accrued expenses and other liabilities		2,717,624		2,411,566
Current portion of deferred income		880,023		814,861
Guest deposits		1,331,237		1,657,194
Due to related parties		67,027		—
Total current liabilities		12,041,127		11,024,823
Note payable due after one year		8,266,648		8,666,650
Long-term portion of deferred income		1,561,397		1,609,632
Total liabilities		21,869,172		21,301,105
Shareholder’s equity:
Common stock, $1.00 par value, 100,000 shares authorized and outstanding		100,000		100,000
Additional paid-in capital		1,013,127		1,013,127
Accumulated earnings		18,937,868		13,033,059
Total shareholder’s equity		20,050,995		14,146,186
	$	41,920,167	$	35,447,291

The accompanying Notes to Financial Statements are
an integral part of these financial statements

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SADDLEBROOK RESORTS, INC.

STATEMENTS OF OPERATIONS

AND ACCUMULATED EARNINGS
(Unaudited)

	Three months ended						Six months ended
	June 30,						June 30,
	2008			2007			2008			2007
Revenues	$	12,767,415		$	10,571,901		$	33,002,081		$	27,598,482
Costs and expenses:
Operating costs		9,223,752			8,191,144			21,732,076			19,080,953
Sales and marketing		800,862			732,666			1,876,831			1,472,549
General and administrative		948,937			1,081,479			2,106,703			2,259,307
Depreciation		541,615			495,002			1,058,980			977,278
Total costs and expenses		11,515,166			10,500,291			26,774,590			23,790,087
Net operating income before
Other expenses (income)		1,252,249			71,610			6,227,491			3,808,395
Other expenses (income)
Interest income		(8,737	)		(21,731	)		(12,657	)		(33,474	)
Other income		10			(18,743	)		21,730			(24,712	)
Interest expense		143,225			221,751			313,611			441,492
Total other expenses (income)		134,498			181,277			322,684			383,306
Net income (loss)		1,117,751			(109,667	)		5,904,809			3,425,089
Accumulated earnings at beginning of period		17,820,117			16,036,753			13,033,059			12,501,997
Accumulated earnings at end of period	$	18,937,868		$	15,927,086		$	18,937,868		$	15,927,086

The accompanying Notes to Financial Statements are
an integral part of these financial statements

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SADDLEBROOK RESORTS, INC.

STATEMENTS OF CASH FLOWS

(Unaudited)

	Six months ended
	June 30,
	2008			2007
Operating activities:
Net income	$	5,904,809		$	3,425,089
Non-cash items included in net income:
Provision for doubtful accounts		3,300			—
Depreciation		1,058,980			977,278
Amortization of debt financing costs		8,154			8,154
Loss on sale of assets		1,821			57,527
(Increase) decrease in:
Accounts receivable		(1,454,608	)		(1,120,170	)
Inventory and supplies		(58,445	)		78,093
Prepaid expenses and other assets		(284,918	)		(554,242	)
(Decrease) increase in:
Accounts payable		(508,114	)		(220,950	)
Accrued rental distribution		545,137			379,554
Guest deposits		(325,957	)		(306,667	)
Accrued expenses and other liabilities		306,057			382,876
Deferred income		16,927			47,953
Cash flow provided by operating activities		5,213,143			3,154,495
Investing activities:
Proceeds from sale of asset		500			4,900
Capital expenditures		(948,575	)		(815,298	)
Cash flow used in investing activities		(948,075	)		(810,398	)
Financing activities:
Proceeds from line of credit		750,000			—
Payments on notes payable		(400,002	)		(400,002	)
Payments on capital lease obligations		(68,837	)		(76,350	)
Net payments to related parties		(601,554	)		(764,178	)
Cash flow used in financing activities		(320,393	)		(1,240,530	)
Net increase in cash		3,944,675			1,103,567
Cash at beginning of period		991,320			977,849
Cash at end of period	$	4,935,995		$	2,081,416
Supplemental disclosure of cash flow information:
Cash paid for interest	$	305,457		$	433,338

The accompanying Notes to Financial Statements are
an integral part of these financial statements.

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SADDLEBROOK RESORTS, INC.

NOTES TO FINANCIAL STATEMENTS

(Unaudited)

Note 1. Basis of Presentation

Saddlebrook Resorts, Inc. (the “Company”) developed and operates Saddlebrook Resort, which is a condominium hotel and resort located in Wesley Chapel, Florida.

The Company’s accompanying balance sheet for June 30, 2008, and its statements of operations and accumulated earnings and cash flows for the periods ended June 30, 2008 and 2007, are unaudited but reflect all adjustments which are, in the opinion of management, necessary for a fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature.

The Company’s business is seasonal. Therefore, the results of operations for the interim periods shown in this report are not necessarily indicative of results to be expected for the full fiscal year.

These financial statements and related notes are presented for interim periods in accordance with the requirements of Form 10-Q and, consequently, do not include all disclosures normally provided in the Company’s Annual Report on Form 10-K. Accordingly, these financial statements and related notes should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2007.

Note 2. Accounts Receivable

	June 30,
	2008			December 31,
	(Unaudited)			2007
Trade accounts receivable	$	4,691,748		$	3,245,106
Less allowance for bad debts		(39,855	)		(44,521	)
	$	4,651,893		$	3,200,585

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Note 3. Property, Buildings and Equipment

	June 30,
	2008			December 31,
	(Unaudited)			2007
Land and land improvements	$	6,809,179		$	6,809,179
Buildings and recreational facilities		28,776,112			27,520,130
Machinery and equipment		16,977,384			16,090,540
Construction in progress		774,779			1,982,166
		53,337,454			52,402,015
Less accumulated depreciation		(27,957,039	)		(26,908,874	)
	$	25,380,415		$	25,493,141

The Company’s property, buildings and equipment are pledged as security for its debt (see Note 5).

Note 4. Deferred Charges

	June 30,
	2008			December 31,
	(Unaudited)			2007
Debt issue costs	$	83,730		$	83,730
Less accumulated amortization		(59,862	)		(51,708	)
	$	23,868		$	32,022

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Note 5. Note Payable and Line of Credit

The Company’s term note is due November 1, 2009, and requires monthly principal payments of $66,667, together with monthly payment of all accrued interest. The term note bears interest at 2% over the one month LIBOR index. The rate as of June 30, 2008 was 4.46%. At June 30, 2008, the outstanding balance on this term note was $9,066,652.

The Company has the ability to obtain an additional $5 million under a line of credit facility from the same lender under the same terms as the term note subject to specific covenants. The Company had an outstanding balance of $2,500,000 on the line of credit at June 30, 2008.

Note 6. Related Party Receivables and Payables

Related party receivables and payables at June 30, 2008 and December 31, 2007 are the result of net intercompany transactions and cash transfers between the Company and its shareholder and affiliated companies. Related party receivables and payables are unsecured and non-interest bearing and expected to be fully collected within one year.

Note 7. Income Taxes

The Company is currently a member of a Qualified Subchapter S Subsidiary Group. Accordingly, no income tax expense was reflected in the Company’s operating results as the tax is assessed to the shareholders of its parent company.

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SADDLEBROOK RENTAL POOL OPERATION

BALANCE SHEETS

DISTRIBUTION FUND

	June 30,
	2008		December 31,
	(Unaudited)		2007
Assets
Receivable from Saddlebrook Resorts, Inc.	$	1,450,371	$	905,234
Liabilities and Participants’ Fund Balance
Due to participants for rental pool distribution	$	1,216,089	$	758,745
Due to maintenance escrow fund		234,282		146,489
	$	1,450,371	$	905,234

MAINTENANCE ESCROW FUND

	June 30,
	2008		December 31,
	(Unaudited)		2007
Assets
Cash and cash equivalents	$	1,062,424	$	869,796
Receivables:
Distribution fund		234,282		146,489
Owner payments		22,539		—
Accrued interest receivable		3,029		—
Linen inventory		32,204		84,317
Prepaid expenses and other assets		2,701		1,774
	$	1,357,179	$	1,102,376
Liabilities and Participants’ Fund Balance
Accounts payable	$	109,066	$	120,702
Participants’ fund balance		1,248,113		981,674
	$	1,357,179	$	1,102,376

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SADDLEBROOK RENTAL POOL OPERATION

STATEMENTS OF OPERATIONS

(Unaudited)

	Three months ended						Six months ended
	June 30,						June 30,
	2008			2007			2008			2007
Rental pool revenues	$	3,687,557		$	2,726,616		$	10,593,821		$	8,283,860
Deductions:
Marketing fee		276,567			204,496			794,537			621,289
Management fee		460,945			340,827			1,324,228			1,035,483
Travel agent commissions		161,067			126,135			527,145			320,599
Credit card expense		86,558			54,235			189,249			144,361
		985,137			725,693			2,835,159			2,121,732
Net rental income		2,702,420			2,000,923			7,758,662			6,162,128
Less operator share of net rental income		(1,216,089	)		(900,415	)		(3,491,398	)		(2,772,957	)
Other revenues (expenses):
Complimentary room revenues		20,700			17,216			39,763			36,367
Minor repairs and replacements		(56,660	)		(47,737	)		(106,535	)		(97,808	)
Amount available for distribution	$	1,450,371		$	1,069,987		$	4,200,492		$	3,327,730

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SADDLEBROOK RENTAL POOL OPERATION

STATEMENTS OF CHANGES IN PARTICIPANTS’ FUND BALANCES

(Unaudited)

DISTRIBUTION FUND

	Six months ended
	June 30,
	2008			2007
Balance at beginning of period	$	—		$	—
Additions:
Amount available for distribution		4,200,492			3,327,730
Reductions:
Amount withheld for maintenance escrow fund		(709,094	)		(554,773	)
Amount accrued or paid to participants		(3,491,398	)		(2,772,957	)
Balance at end of period	$	—		$	—

MAINTENANCE ESCROW FUND

	Six months ended
	June 30,
	2008			2007
Balance at beginning of period	$	981,674			769,905
Additions:
Amount withheld from distribution fund		709,094			554,773
Unit owner payments		264,034			10,654
Interest earned		8,336			12,646
Reductions:
Escrow account refunds		(23,404	)		(31,868	)
Maintenance charges		(167,531	)		(114,173	)
Unit renovations		(392,399	)		(168,059	)
Linen replacement		(131,691	)		(115,323	)
Balance at end of period	$	1,248,113		$	711,281

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

General

The Company operates Saddlebrook Resort (the “Resort”) in Wesley Chapel, Florida, which contains condominium units that have been sold to third parties or to affiliates of the Company. The majority of the condominium units are hotel accommodations that participate in a rental-pooling program (the “Rental Pool”) that provides its owners with a percentage distribution of related room revenues minus certain fees and expenses. The remainder of the condominium units participate in a non-pooling rental program, are owner-occupied or are designated as hospitality suites or housing for young athletes independent of the rental programs. Other resort property owned by the Company and its affiliates include golf courses, tennis courts, a spa, restaurants and conference center facilities.

Liquidity and Capital Resources

Future operating costs and planned expenditures for minor capital additions and improvements are expected to be adequately funded by the Company’s and its affiliates’ current cash reserves and cash generated by resort operations. The Company’s current debt agreement also contains a commitment for an additional $5,000,000, of which $2,500,000 was outstanding at June 30, 2008, provided the Company is in compliance with certain financial covenants. The Company’s financing from a third-party lender bears interest at 2% over the one month LIBOR index (4.46% at June 30, 2008) and matures on November 1, 2009.

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Results of Operations

Second quarter 2008 compared to second quarter 2007

The Company’s total revenues increased approximately $2,200,000, or about 21%, for the three months ended June 30, 2008 compared to the same period in the prior year. This increase is directly related to a 13% increase in occupancy over the prior period. Total revenues for the Rental Pool increased approximately $961,000, or about 35%. This increase is directly related to the increase in occupancy, along with an 8% increase in the average room rate.

The increases of $1,015,000 in total costs and expenses for the Company, and $259,000 in total costs and expenses for the Rental Pool Operation, are consistent with the increases in revenues.

Net income for the Company increased $1,227,000 over the comparable period last year. Amounts available for distribution for the Rental Pool Operation increased $380,000 over the comparable period last year.

First six months 2008 compared to first six months 2007

The Company’s total revenues increased approximately $5,404,000, or about 19% for the six months ended June 30, 2008 compared to the same period in the prior year. This increase is directly related to a 15% increase in occupancy over the prior year. The total revenues for the Rental Pool increased approximately $2,310,000, or about 27%. This increase is directly related to the increase in occupancy, along with a 9% increase in the average room rate.

The increases of $2,985,000 in total costs and expenses for the Company, and $713,000 in total costs and expenses for the Rental Pool Operation, are consistent with the increases in revenues.

Net income for the Company increased $2,480,000 over the comparable period last year. Amounts available for distribution for the Rental Pool Operation increased $873,000 over the same period in the prior year.

Seasonality

The Company’s operations are seasonal with the highest volume of revenues generally occurring in the first quarter of each calendar year.

Due to the seasonal business of the Company, the results of operations for the interim periods shown in this report are not necessarily indicative of results to be expected for the full fiscal year.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

The Company’s invested cash, including investments escrowed on behalf of the condominium unit owners in the Rental Pool’s Maintenance Escrow Fund, is subject to changes in market interest rates. Otherwise, the Company does not have significant market risk with respect to foreign currency exchanges or other market rates.

The Company’s term note bears interest at 2% over the one month LIBOR index and matures on November 1, 2009.

Item 4. Controls and Procedures

The Company’s management, including the Chief Executive Officer and the Chief Financial Officer, carried out an evaluation of the effectiveness of the design and operation of the disclosure controls and procedures as of June 30, 2008, pursuant to Exchange Act Rule 15d-15. Based upon that evaluation, the Company’s Chief Executive Officer and the Chief Financial Officer concluded that the Company’s disclosure controls and procedures were effective as of June 30, 2008 in timely alerting them to material information required to be included in the Company’s periodic SEC filings.

The Company’s management, including its Chief Executive Officer and Chief Financial Officer, does not expect that its disclosure controls and procedures over internal controls will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must be considered relative to their costs. Because of the inherent limitation in all control systems, no evaluation of controls can provide absolute assurance that all control issues within the Company have been detected.

There were no significant changes in the Company’s internal controls over financial reporting during the quarter ended June 30, 2008 that materially affected, or are reasonably likely to materially affect, the Company’s internal controls over financial reporting.

PART II — OTHER INFORMATION

Item 1. Legal Proceedings

The Company is from time to time involved in litigation in the ordinary course of business. In the opinion of the Company’s management, insurance or indemnification from other third parties adequately covers these matters. Accordingly, the effect, if any, of these claims is considered immaterial to the Company’s financial condition and results of operations.

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Item 6. Exhibits

     The following exhibits are included in this Form 10-Q:

31.1 — Chief Executive Officer Rule 15d-14(a) Certification

31.2 — Chief Financial Officer Rule 15d-14(a) Certification

32.1 — Chief Executive Officer Section 1350 Certification

32.2 — Chief Financial Officer Section 1350 Certification

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	SADDLEBROOK RESORTS, INC. (Registrant)
Date: August 14, 2008	/s/ Donald L. Allen
	Donald L. Allen
	Vice President and Treasurer (Principal Financial and Accounting Officer)

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EX-31.1

Exhibit 31.1

CHIEF EXECUTIVE OFFICER SECTION 15d-14(a) CERTIFICATION

I, Thomas L. Dempsey, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Saddlebrook Resorts, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f)for the registrant and have:

     (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

     (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

     (c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

     (d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

     (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

     (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 14, 2008	/s/ Thomas L. Dempsey
	Thomas L. Dempsey
	Chairman of the Board and Chief Executive Officer

EX-31.2

Exhibit 31.2

CHIEF FINANCIAL OFFICER SECTION 15d-14(a) CERTIFICATION

I, Donald L. Allen, certify that:

1. I have reviewed this Quarterly Report on Form 10-Q of Saddlebrook Resorts, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f)for the registrant and have:

     (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

     (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

     (c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

     (d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

     (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

     (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: August 14, 2008	/s/ Donald L. Allen
	Donald L. Allen
	Vice President and Treasurer

EX-32.1

Exhibit 32.1

CHIEF EXECUTIVE OFFICER SECTION 1350 CERTIFICATION

I, Thomas L. Dempsey, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2003, that the Quarterly Report on Form 10-Q for Saddlebrook Resorts, Inc. for the period ended June 30, 2008 fully complies with the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 and that the information contained therein fairly presents, in all material respects, the financial condition and results of operations of Saddlebrook Resorts, Inc.

Date: August 14, 2008	/s/ Thomas L. Dempsey
	Thomas L. Dempsey
	Chairman of the Board and Chief Executive Officer

EX-32.2

Exhibit 32.2

CHIEF FINANCIAL OFFICER SECTION 1350 CERTIFICATION

I, Donald L. Allen, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2003, that the Quarterly Report on Form 10-Q for Saddlebrook Resorts, Inc. for the period ended June 30, 2008 fully complies with the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934 and that the information contained therein fairly presents, in all material respects, the financial condition and results of operations of Saddlebrook Resorts, Inc.

Date: August 14, 2008	/s/ Donald L. Allen
	Donald L. Allen
	Vice President and Treasurer