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Southmark Corp (fka SMRK)

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Last Post: 10/22/2014 9:43:20 PM - Followers: 4 - Board type: Free - Posts Today: 0

Southmark Corporation
555 Republic Drive Suite 490
Plano, TX 75074

State Of Incorporation: GA

Officers and Directors:

Ronald F. Akin, CEO/Director
F. Terry Shumate, CFO and Secretary/Director

 

Latest Annual Registration Filed: 2009 (3/03/2009)

Registered Agent:

National Registered Agents, Inc
3675 Crestwood Parkway Suite 350
Duluth, GA 30096

Source: Georgia Secretary of State 

 

Texas Fictitious Name: Texas Highland RS Corp. (Amended: 9/14/09)

Registered Agent:

National Registered Agents, Inc (Changed: 9/27/07)
16055 Space Center Suite 235
Houston, TX 77062

Source: Texas Secretary of State

Transfer Agent:

American Stock Transfer & Trust Company,
59 Maiden Lane
New York, NY 10038

 

A&B Capital Corporation is the controlling shareholder.  Southmark and A&B Capital have common management.  A&B Capital owned a total of 965,541 shares of SMRKP (which constituted approximately 34.1% of the 2,831,997 shares) and a total of 7,346,114 shares of SMRK (which constituted approximately 20% of the 36,761,096 shares outstanding) at 5/20/00.

http://sec.gov/Archives/edgar/data/701996/0000930661-00-001431.txt

http://sec.gov/Archives/edgar/data/701996/000095012900003294/0000950129-00-003294-0001.txt

http://sec.gov/Archives/edgar/data/701996/000095012900003294/0000950129-00-003294-0001.txt

A&B Capital increased its stake to 48 percent, according to the Texas Franchise Tax Public Information Report filed 10/27/03. 

http://sec.gov/Archives/edgar/data/701996/000095012900003294/0000950129-00-003294-0004.txt

As of 4/30/04, SMRK had issued and outstanding a total of 56,572,962 shares of Common Stock.  Based upon that number, the 2,831,997 shares of SMRKP (Series A Preferred Stock) were automatically converted into an aggregate of 2,002,677 shares (or 0.707167 shares for each share of SMRKP).  Simultaneously, the 757,341 Series C Convertible Preferred Stock became automatically convertible into 5 percent of the shares of common shares on a fully-diluted basis after giving effect to the automatic conversion of SMRKP. Based upon the automatic conversion of the Series A Preferred Stock at April 30, 2004, the 757,341 shares of Series C Convertible Preferred Stock were converted into 2,928,781 shares of SMRK based upon a conversion ratio of 3.867192 shares of SMRK for each share of Series C Convertible Preferred Stock then outstanding, which further increased the number of issued and outstanding shares to a total of 61,504,420 shares.

http://sec.gov/Archives/edgar/data/701996/000095013404007504/d15372e8vk.htm

A&B Capital would have received approximately 682,799 shares of SMRK upon conversion of 965,541 shares of SMRKP.

The 10/24/06 filing shows ownership of 50.04 percent.  This would approximate 30,776,812 shares.  After subtracting the 682,799 shares received from the conversion of SMRKP into SMRK in 2004, A&B Capital would have needed to acquire 22,747,899 shares between 5/20/00 and 10/27/03.  However, only 7,413,400 shares traded between these two dates.  

[Disclosure: The moderator (effective June 15, 2009) purchased debt in Southmark Corp. during Stage III of the Chapter 11 reorganization process and received SMRK shares as settlement of claims in 1990. Additional purchases of SMRK and primarily SMRKP were made later on.  The initial shares of SMRKP were purchased at $.25.  SMRKP holders received $16 in principal and unknown amount of dividends.  All dividends were reinvested in additional shares SMRKP.  The original 80,932 shares are in an IRA and have no basis since dividends greatly exceeded original cost.  SMRK is considered a "permanent holding". The goal is accumulate shares by buying additional shares as they become available, subject to funding.]


 

 





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PostSubject
#33   Ended up owing 1.32 percent. Enterprising Investor 10/22/14 09:43:20 PM
#32   Terminated four years ago today. Enterprising Investor 10/22/14 09:38:40 PM
#31   SMRK revoked: Renee 12/01/11 09:37:13 AM
#30   SMRK SEC Suspension: Renee 11/09/11 09:34:11 AM
#29   SMRK up 328.57 percent (4/19/11) Enterprising Investor 04/20/11 12:11:36 AM
#28   A&B Capital Corporation owns 59.02 percent. Enterprising Investor 03/28/11 06:20:10 PM
#27   A&B Capital Corporation owns 59.02 percent. Enterprising Investor 10/13/10 11:53:37 PM
#26   Updated mission. Enterprising Investor 11/02/09 08:27:30 AM
#25   Mission Control to enterprisinginvestor... AIOS 11/01/09 08:40:06 PM
#24   Updated holdings 814,699 (10/27/09) Enterprising Investor 10/27/09 11:44:00 PM
#23   Updated holdings 218,007 (10/12/09) Enterprising Investor 10/13/09 01:41:09 AM
#22   Updated holdings 164,007 (9/23/09) Enterprising Investor 10/13/09 01:21:56 AM
#20   SMRK golden cross potential. Enterprising Investor 09/20/09 08:20:17 AM
#19   LOL.. Buffett also taught me not to invest elcheepo 09/05/09 02:55:12 AM
#18   Buffett has taught us one thing... Enterprising Investor 09/05/09 02:41:56 AM
#17   Looking for 22,747,899 shares. Enterprising Investor 09/05/09 02:22:07 AM
#16   EI. I am not questioning your reasoning for elcheepo 09/05/09 02:10:43 AM
#15   Liquidity is an issue. Enterprising Investor 09/05/09 02:04:50 AM
#13   Updated holdings 110,932 (8/06/09) Enterprising Investor 09/05/09 01:30:43 AM
#12   Nice gain... elcheepo 09/05/09 01:10:41 AM
#11   SMRK up 566.7 percent on three trades (9/04/09) Enterprising Investor 09/05/09 01:04:37 AM
#10   SMRK up 566.7 percent on two trades (8/06/09) Enterprising Investor 08/07/09 08:17:27 AM
#9   A&B Capital Corporation owns 50.04 percent. Enterprising Investor 08/05/09 05:41:26 AM
#8   A PM stated I left out important facts. Enterprising Investor 06/25/09 12:53:50 PM
#7   Somehow I ended up with 80,932 shares? Enterprising Investor 06/18/09 11:49:07 PM
#6   Brewer was successful in litigation. Enterprising Investor 06/15/09 12:47:38 AM
#5   Southmark phone number: 214-750-5800 Enterprising Investor 06/15/09 12:32:00 AM
#4   A&B Capital Corporation is controlling shareholder. Enterprising Investor 06/14/09 10:55:51 PM
#3   SMRK shares outstanding: 61,504,420 (4/30/04) Enterprising Investor 06/14/09 10:39:14 PM
#1   SMRK dormant Shell, +66% on 300 x 10 HDOGTX 04/21/08 03:55:20 PM
PostSubject