Unconfirmed reports that Frisini Motorsports, the parent company of the Sonic, Spectre and Frisini high-performance powerboat lines, is experiencing financial difficulties are false, according to Tony Frisina, the principal of the company. According to Frisina, all of the brands are “alive and well,” boatbuilding at the company’s Fort Pierce, Fla., plant is ongoing and its employees and vendors are being paid.

In a telephone interview this afternoon, Frisina said he believes the rumors of financial trouble started with his decision not to display at the 2012 Miami International Boat, which concluded two days ago.

“The state of Frisini Motorsports is that we are building boats, in business and not in any danger of going out of business,” said Frisina, who described himself as “extremely upset” by the rumors, particularly those on the online message boards. “I would have loved to show our boats in Miami, but you can’t go there with unfinished boats and expect to have a good show. It’s just not a good idea. That’s why I chose Desert Storm in April. My customers are coming with me to run and show the boats there. Our brands have always been thought of as ‘East Coast.’ I want to open up the whole country.

“Everything in my plant is paid for,” he continued. “The boats are paid for. The Mercury 1350s and 525s and 600 are paid for. The 300 Verados are paid for. The fiberglass and the windshields are paid for. There are some vendors I don’t have accounts with that I have to pay when their products arrive, but that’s because they don’t let you set up accounts with them until you’ve been in business for three years. Call Bill Tweedie at MYCO Trailers and ask him if he has any trouble getting paid by us. All of my employees are getting paid. Does anyone think I would have guys like Chris Dilling (of Grafik EFX) doing work for me if I didn’t pay them?

“I invite anybody to come the factory unannounced and we will give them—even the naysayers, even the people who don’t like me—a tour,” he added. “Everyone is welcome. They can talk to the employees if they like. I have nothing to hide.”