TMSF Holdings Inc (fka TMFZ)

[researcher59]

BTuna: Insider selling is pretty much according to planned selling of 150k shares each, at the most, according to earlier filings. I've been using the selling as an opportunity to buy more shares at around $3.05. It's a healthy thing to increase the public float, since the insiders own so many shares. Were it not for their selling, the stock would probably be at $4 or even higher. But they are selling judiciously, and no shares have been sold under $3 since December.

Once this stock moves to the AMEX or NasdaqSC, it will see much greater volume, and the valuation will get more inline with peers. The Q2 earnings report should be a blockbuster, imho. It's seasonally strong, mortgage rates are DOWN from Q1 and from last year, and the housing market has been hot. It would be great if they get the listing upgrade before the mid August earnings report !

[BTuna]

More insider selling by Raymond Eshaghian. Not a lot but I think it has been enough to hold the price down. Why doesn't this guy just get TMFZ to a better exchange asap and sell shares at a higher price? Surely they meet amex requirements.

[BTuna]

I am wondering the same thing hweb. Sometimes this market makes absolutely no sense. I sold OFI today wondering why the heck it was supporting a price above $3 . .and at the same time feeling nervous about tmfz being above $3. To get more respect, I guess TMFZ needs to put some serious debt on the balance sheet, drop this whole mortgage business thing and start selling something sexier, like . . .airline food. Yeah, thats it!

[hweb2]

Trying to break the $3 level! With Q1 fully-taxed earnings of .19/share and Q1 revenues up 159%, this stock could run a lot higher. Only question is how much of a discount will the company trade at being in the mortgage sector.

[Guy]

TMSF Holdings, Inc. Reports Record First-Quarter Results
Tuesday May 24, 8:02 am ET
Revenue of $19.2 Million Was 158.7% Higher Than First Quarter 2004
First-Quarter Net Income Increased 183.4% to $3.0 Million over Previous Year
Conference Call Scheduled for 10:00 a.m. PDT Today

http://biz.yahoo.com/bw/050524/245445.html?.v=1

LOS ANGELES--(BUSINESS WIRE)--May 24, 2005-- TMSF Holdings, Inc. (OTCBB:TMFZ - News) today announced results of operations for the three months ended March 31, 2005. For the first quarter of 2005, revenues for the Company and its wholly owned subsidiary, The Mortgage Store Financial, Inc., totaled $19.2 million compared to revenues of $7.4 million for the three months ended March 31, 2004. This represented a 158.7% improvement from the prior-year first quarter. Income from operations for the first quarter of 2005 was $4.9 million, a 183.9% increase over operating income of $1.7 million for the same period in 2004.
Net income for the 2005 first quarter was $3.0 million, or $0.20 cents per basic share, $0.19 diluted, a 183.4% increase compared to net income of $1.0 million, or $0.07 per basic and diluted share, for the first quarter of last year.

Commenting on the company's performance during the quarter, Raymond Eshaghian, CEO of TMSF Holdings, Inc. and President of The Mortgage Store Financial, Inc., said, "Our mortgage originations for the three months ended March 31st increased nearly 140% over the prior year, compared to the whole industry where in the first quarter of 2005 nationwide loan originations grew a little more than 7% over the same period last year. This reflects success of our plan to expand marketing efforts in new geographical areas, and our strategy to emphasize purchase money mortgage originations.

"Our first-quarter purchase money mortgages grew 198% year over year and accounted for 69.6% of our originations during the quarter ended March 2005, compared to 55.9% for the same period in 2004," Mr. Eshaghian continued.

"We remain committed to providing superior customer service while maintaining one of the highest standards of quality control in the industry," Mr. Eshaghian concluded.

Management of TMSF Holdings will hold a conference call to discuss first-quarter results today, Tuesday, May 24, at 10:00 a.m. PDT (1:00 p.m. EDT). To participate in the conference call, please call the following number five to ten minutes prior to the scheduled start time to register: 877-586-7724. International callers should dial 706-679-0614. There is no passcode required for this call.

If you are unable to participate in the call at this time, a replay will be available on Tuesday, May 24 at 11:00 a.m. PDT, through Tuesday, May 31 at 9:00 p.m. PDT. To access the replay dial 800-642-1687 and enter the conference ID number 6523068.

A replay of the conference call will also be made available on the TMSF Holdings web site www.TMSFHoldings.com.

About TMSF Holdings

TMSF Holdings, Inc. is a financial holding company that through its wholly owned subsidiary, The Mortgage Store Financial, Inc., is engaged in nationwide mortgage banking. The goal of The Mortgage Store Financial, Inc. is to become a national leader in the mortgage banking industry by continuing to expand its geographic coverage and maximizing the volume of business from existing clients while adopting innovative processes to improve its profitability.

Statements made in this press release, other than those concerning historical information, should be considered forward-looking and subject to various risks and uncertainties. Such forward-looking statements are made based on management's belief as well as assumptions made by, and information currently available to, management pursuant to the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the results anticipated in these forward-looking statements as a result of a variety of factors, including those identified in TMSF Holdings, Inc. Information Statement Filing and its Annual Report on form 10-K for the year ended December 31, 2004, and its subsequent Quarterly Reports on Form 10-Q, as filed with the Securities and Exchange Commission.

TMSF HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATION
For the Three Months Ended March 31, 2005 and March 31, 2004

For the three months
ended March 31,
------------------------
2005 2004
------------ -----------

Total revenue $19,154,210 $7,405,235

Total cost of sales 8,696,981 3,182,360
------------------------

Gross profit 10,457,229 4,222,875

Operating expenses 5,531,900 2,488,101
------------ -----------

Income from operations 4,925,329 1,734,774

Total Other Income 18,659 94,953
------------ -----------

Income before provision for income taxes 4,943,988 1,829,727

Provision for income taxes 1,973,226 781,600
------------ -----------

Net income $2,970,762 $1,048,127
============ ===========

Basic earnings per share $0.20 $0.07
============ ===========
Diluted earnings per share $0.19 $0.07
============ ===========

Basic weighted average common shares
outstanding 15,000,000 15,000,000
============ ===========
Diluted average common shares outstanding 16,057,691 15,750,000
============ ===========





TMSF HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
March 31, 2005 and December 31, 2004

ASSETS

March 31, December 31,
2005 2004
------------- -------------

Current assets
Cash and cash equivalents $7,025,640 $8,565,215
Mortgage loans held for sale
(net of loss reserve of $127,500 &
$43,690 respectively) 91,062,307 121,115,941
Mortgage loans to be repurchased
(net of loss reserve of $775,600 &
$475,238 respectively) 6,535,998 3,843,045
Other current assets 4,917,244 3,339,521
------------- -------------

Total current assets 109,541,189 136,863,722

Restricted cash 1,551,087 1,356,170
Real estate owned (net of loss reserves of
$50,000 & $0, respectively) 654,821 -
Property and equipment, (net of $419,269
and $342,704 accumulated depreciation) 939,546 667,269
Deposits and other assets 30,390 28,574
Deferred tax asset 439,701 439,701
------------- -------------

Total assets $113,156,734 $139,355,436
============= =============


LIABILITIES ------------ -------------
Current liabilities
Warehouse line of credit $84,522,516 $115,554,147
Obligation to repurchase mortgage
loans 7,311,598 4,318,283
Other current liabilities 3,939,642 5,070,789
------------ -------------

Total current liabilities 95,773,756 124,943,219

Long Term Liabilities
Deferred tax liability 102,709 102,709
------------ -------------

Total Liabilities 95,876,465 125,045,928
------------ -------------





TMSF HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS, continued
March 31, 2005 and December 31, 2004

March 31, December 31,
2005 2004
------------- -------------

Commitments and contingencies

Shareholders' equity

Preferred stock, $0.001 par value
10,000,000 shares authorized
no shares issued and outstanding - -

Common stock, $0.001 par value
100,000,000 shares authorized
15,000,000 shares
issued and outstanding 15,000 15,000
Additional paid-in capital 3,078,682 3,078,682
Retained earnings 14,186,587 11,215,826
------------- -------------

Total shareholders' equity 17,280,269 14,309,508
------------- -------------

Total liabilities and shareholders'
equity $113,156,734 $139,355,436
============= =============

[chinditone]

TMFZ = spectacular Q1 results

http://biz.yahoo.com/e/050523/tmfz.ob10-q.html

[SSKILLZ1]

Well we will see the tmfz.ob earnings on monday morning. eom.

[SSKILLZ1]

We might be getting the tmfz.ob earnings tomorrow. Hopefully they will be good when they come out. EOM.

[chinditone]

Mortgage rate falls: more sales for TMFZ!!!

http://biz.yahoo.com/brn/050519/15980.html

[chinditone]

Nice volume on tmfz over the last couple of days. Looks like someone is accumulating.

[researcher59]

Dutton Report estimates EPS of .98 for this year. WOW, that would be fantastic for a stock trading at a mere $2.35. I just hope they're getting some guidance from Management that's led them to that estimate ! We don't have long to wait before we see the Q1 results, though it's normally their seasonally weakest quarter, so I don't expect a repeat of Q4.

[chinditone]

Page of research reports for TMFZ:

http://www.jmdutton.com/Research/TMFZ/index.html

[chinditone]

Lastest TMFZ research report:

http://www.jmdutton.com/research/TMFZ/Reports/TMFZ_Report_042805.pdf

[chinditone]

Press Release Source: TMSF Holdings


Dutton Associates Announces Investment Opinion: TMSF Holdings Strong Speculative Buy Rating by Dutton Associates
Thursday April 28, 4:22 pm ET


EL DORADO HILLS, Calif.--(BUSINESS WIRE)--April 28, 2005--Dutton Associates continues coverage of TMSF Holdings (OTCBB:TMFZ - News), reiterating its Strong Buy Rating and raising its price target to $3.70. The 8-page report by Dutton senior analyst Richard W. West, CFA is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Multex, and other leading financial portals.
TMSF Holdings reported strong growth in revenues and earnings for the fourth quarter and year of 2004. In our April 1, 2005 Research Note we noted that the strong revenues and earnings came in much higher than our estimates. For the fourth quarter 2004, revenues rose 104% to $17.3 million, compared to revenues of $8.5 million for the 2003 fourth quarter. Net income for the 2004 fourth quarter increased 47% to $2.4 million, or diluted EPS of $0.16. TMSF's strong fourth quarter in 2004 was the direct result of its change in strategy to shift mortgage underwriting into the Alt-A mortgage market and other niche products that include purchase money orders for first-time home buyers. TMSF has reported double-digit growth in revenue and earnings in the last five quarters, and we believe this growth is not recognized in the stock market. Based on our estimated diluted EPS of $0.98 for 2005 and applying a conservative price earnings ratio of 3.8, we are raising our 12-month price target to $3.70 per share. Based on our 2006 estimated diluted EPS of $1.05 and applying a 4.5 price earnings ratio, the price target for year-end 2006 is $4.70 per share. At the current levels, TMSF Holdings affords investors an opportunity for long-term capital growth with minimum downside risk.

About Dutton Associates

Dutton Associates is one of the largest independent investment research firms in the U.S. Its 27 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 90 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors.

The cost of enrollment in our one-year continuing research program is US $33,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. We received $52,000 from the Company for 8 Research Reports with coverage commencing on 2/7/2003. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at before investing.



--------------------------------------------------------------------------------
Contact:
Dutton Associates
John M. Dutton, 916-941-8119

[SSKILLZ1]

Repost of message from value microcaps board.

JM Dutton & Associates issues report on TMFZ.ob calling it a speculative strong buy and raised its target to $3.70. good thing I took a small position maybe will get a rise in the stock.

[chinditone]

Home sales market remains hot:

http://biz.yahoo.com/ap/050427/home_sales_mystery.html?.v=4

[chinditone]

New homes sales hit record high: TMFZ will rock bigtime. IMO.

http://biz.yahoo.com/ap/050426/economy.html?.v=10

[researcher59]

TMFZ: More good news from the Mortgage Banking sector

Bodes well for TMFZ earnings due out by 5/15. Trailing PE is now under 4 .... CFC's PE is almost 3x higher at near 10 ...

Countrywide Financial Corp. on Tuesday reported a 27% increase in first-quarter net income and raised its outlook for the rest of 2005.

The Calabasas, Calif., mortgage giant said quarterly net income rose to $689 million, or $1.13 a share, up from $543 million, or 90 cents a share, in the same period last year, reflecting contributions from the mortgage, banking and insurance businesses. The company had been expected, on average, to earn $1.02 a share, according to a survey of analysts by Thomson First Call.

Countrywide raised its target for 2005 earnings to a range of $3.60 to $4.60 a share, up from its revised February range of $3.45 to $4.45 a share. It had a 2004 profit of $3.63 a share.

In its core business, the company's pretax mortgaging earnings rose to $772 million from $561 million a year earlier. Revenue climbed 22% to $2.4 billion from $1.97 billion, as total quarterly loan production rose 21% to $92 billion.

"Countrywide opened 2005 with a solid first quarter," said Chairman and CEO Angelo Mozilo, in a statement. The company raised its quarterly dividend by a penny to 15 cents a share.

[SSKILLZ1]

First, I want to say great board, and for disclosure purposes I don't own the stock right now, however it is on my buy list, but feel it will go lower. I actually think technically it looks pretty sick here and although not certain it will do it. I believe there is a good chance that the gap the stock created in November of last year will close in the coming weeks, then I think it will provide for a great opportunity over the coming months for possibly a 50-100% move in the future. Of course this is all my humble opinion and as always do your own DD.

[chinditone]

Did anyone else notice this from the 10K - that the Early Purchase Facility from their loan warehouse was increased by 50% - I think it is very good news:

Warehouse Facilities:
As of December 31, 2004 the company had loan origination financing facilities with three financial institutions for a total funding capacity of $220 million. This included an Early Purchase facility with a maximum concentration amount of $100 million. This facility was subsequently increased to $150 million in March 2005. The cost of borrowing on these lines are a variable rate equal to 1 month LIBOR plus a margin between 2.25% and 3.75%. As of year ended December 31, 2003 we had a warehouse line in the amount of $50 million with IMPAC Warehouse Lending Group. The interest rate on this line was prime plus 0.5% subject to increase based on the length of time loans are held on the warehouse line.


Our business requires a significant amount of cash and if it is not available our business will be significantly harmed:

Our primary source of cash is our existing warehouse credit facilities and the proceeds from the sales of our mortgage loans. We require substantial cash to fund our mortgage loan originations, to pay our mortgage loan origination expenses and to hold our mortgage loans pending sale. Our warehouse credit facilities also require us to observe certain financial covenants, including the maintenance of certain levels of cash and general liquidity.

[chinditone]

Just added this board as I noticed that TMFZ had no board. A growing value company with amazing revenue growth and low PE.

http://biz.yahoo.com/bw/050401/15242.html?.v=1