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you wouldn't happen to have an idea of the balance sheet would you?
Are they paying down the note? What is the cash balance?
Just trying to get a feel for the full situation- I stumbled upon this one, and am very interested in learning more.
thanks!
Statement of Operations (9/30/10)
Three months (9/30/10)
Revenue: $9,070
Income from ops: $1,936
Net income: $1,337
EPS (basic): $.23
EPS (diluted): $.22
Shares (basic): 5,923,032
Shares (diluted): 5,981,755
YTD Successor (3/15-9/30)
Revenue: $19,318
Income from ops: $4,333
Net income: $2,250
EPS (basic): $.38
EPS (diluted): $.38
Shares (basic): 5,898,045
Shares (diluted): 5,910,999
ADFT is not filing with the SEC.
However, I have obtained financials directly from the company. The latest information covers 9/30/10.
I will be posting shortly.
Hi- are there any post reorg financial statements for ADFT?
Banking is the Bankenship Family Business
http://www.icba.org/files/ICBASites/PDFs/coverstory0508.pdf
ADFT Board of Directors
Jay H. Lustig, Director and Chairman
H. Gary Blankenship, Director
Kevin Gusinow, Director
Riley C. Peveto, Director
Samuel Meek, Director and President
http://sec.gov/Archives/edgar/data/1440300/000119312510004231/dt3.htm
if you are looking for some of Adfitech's 8% senior notes, there are some available for .77 on the dollar. The cusip is 00687BAA3.
Truly amazing price action.
For those who really know me, I am not into hype.
It appears to me that there are several motivated buyers. I expect to see SEC ownership filings shortly.
TMA.GB is the gift that keeps on giving!
ADFT was the result of guarantee claims. THMRQ planned on selling the business. Luckily, the OCC stopped it.
I tried buying w/ a limit order @ $1.90. No fill.
I tried buying w/ a limit order @ $2.00. No fill.
I tried buying w/ a limit order @ $2.11. No fill.
I tried buying w/ a limit order @ $2.15. No fill.
Most were at the ask, but the initial ones were at the bid.
The market was to thin to go in with a market order.
I actually gave up. LOL, no i am kicking myself!!!
Congrats on Thornburg.
ADFT volume soars (4/15/10).
The 492,500 shares traded represents nearly half of shares traded since public (1,011,500).
ADFT begins trading on 3/19/10.
Closing price $1.88
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Adfitech, Inc
3001 Technology Drive
Edmond, OK 73013
ADFITECH is committed to providing "premier outsource services" for the mortgage industry. As the nation's leading provider of outsource post-funding quality control services, we pride ourselves on delivering services to our clients that meet their goals for quality, profitability and professionalism.
When the requirements and expectations for goals change, so do we. Since 1983, ADFITECH has continued to develop our technology and train our people to provide you with meaningful management reporting, unparalleled quality, and prompt customer service to meet your day-to-day needs, as well as special project requirements. Over the past 22 plus years, we have assisted many lender clients and proven our worth to those companies by helping to improve the quality of the loans they produce. We have also helped to uncover fraud, both through our post-funding quality control services and our pre-funding quality control services, as well as assisting clients with special fraud projects.
Today, our teams of full-time employees located in Edmond, Oklahoma, serve over 500 clients nationwide and our clients include 6 of the top 10 lenders, Wall Street firms, and many small banks and mortgage operations. We work in a secure environment that protects your files and data on our company owned 20 acre campus. Our IT staff has provided clients with secure paths for data flow and redundant off-site secure backup of all data for client protection.
At ADFITECH we strive to surpass expectations to maintain client relationships and provide economical results. Our full-time staff works with clients to maintain a long term relationship that continually meets the client’s specific needs for both services and reporting. Our efficient workflow and negotiated vendor pricing has helped to keep our cost down so that our clients can enjoy the efficiencies of a large organization regardless of their individual size.
Services provided by ADFITECH include:
ADFT Effective Date Forward (3/15/10)
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