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Broad Street Realty Inc. (BRST)

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Last Post: 6/30/2021 11:57:34 AM - Followers: 6 - Board type: Free - Posts Today: 0


Banyan Rail Services, Inc. became a holding company upon the acquisition of The Wood Energy Group, Inc. on September 4, 2009. The stock of Wood Energy is its principal asset.  Currently, BARA is focusing primarily on railroad track construction, repair and maintenance businesses, but may explore potential acquisitions in other industries as well.

The company was originally organized under the laws of the State of Massachusetts in 1985, under the name VMS Hotel Investment Trust, for the purpose of investing in mortgage loans, principally to entities affiliated with VMS Realty Partners. These loans were collateralized by hotel and resort properties. The company was subsequently reorganized as a Delaware corporation in 1987 and changed its name from Banyan Hotel Investment Fund to B.H.I.T. Inc. in 1998.

As the result of a public offering in 1986, the company received gross proceeds of $98,482,751. From 1989 to 1992 it experienced severe losses due primarily to a decline in real estate property values and the resulting default on mortgage loans held by the REIT. The company has recorded losses every year since 1989 resulting in the accumulated deficit totaling $87,833,681 on December 31, 2008.

On February 15, 1995, a change in control occurred pursuant to the closing of the sale of shares of common stock to Harvey Polly pursuant to an amended Purchase Agreement dated August 3, 1994.  On January 26, 1995, a tender offer concluded which resulted in the tender to Polly of 128,821.7 shares of common stock or 12.5 percent of BHIT's then outstanding shares common stock for a cash price of $3.50 per share.  Subsequent to the closing of the tender offer, the terms of the agreement also required Polly to purchase from the company a number of shares sufficient to allow Polly to own, by virtue of the combination of the tender offer and the share purchase, not less than 333,500 and not more than 40 percent of the shares of common stock after giving effect to the shares issued in connection with the purchase. On February 15, 1995, Polly purchased 204,776.6 newly issued shares of common stock for a cash price of $2.20 per share. Upon acquisition, when combined with the shares of common stock purchased pursuant to the tender offer, Polly was the beneficial owner of 3,335,983 shares or approximately 27 percent of the outstanding voting shares of common stock.

In September 2000, Summa Holdings, Inc., formerly known as Arrowhead Holdings Corporation, purchased 587,056.3 shares of stock for $1,683,000 (which represented an average cost of $2.87 per share), or 39.2 percent of the outstanding shares from Polly and related entities.  Prior to the sale Polly excercised a to purchase 265,000 shares at $2.20.  Subsequent purchases of shares resulted in Summa owning a total of 624,356.3 shares at total historical cost of $1,737,464 (representing an average cost of $2.783 per share), or 41.7 percent of the outstanding shares on December 31, 2006.

On January 24, 2007, a group of private investors including Polly purchased all of the BHIT shares held by Summa at $2.50 per share. As a result of the transaction, James Benenson, Jr. and John V. Curci each resigned as directors and officers of the company and Paul S. Dennis, Gary O. Marino, Polly and Andrew H. Scott were appointed to fill vacancies in the board.

Effective November 14, 2008, Gary O. Marino was appointed president and CEO of BHIT. Marino will continue to serve as chairman of the board. The board expects BHIT to benefit from Marino's railroad experience as the company focuses on making acquisitions in that industry. 

The company changed its name from B.H.I.T, Inc. to Banyan Rail Services, Inc. on January 06, 2010.  The information above was updated on April 16, 2010 to reflect the impact of 1-for-10 reverse stock split.

Corporate Website: http://www.banyanrail.com/



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#125   BRST nice bid in, 14K @ $3.75 MegaDeath 06/30/21 11:57:34 AM
#124   BRST $5 hit MegaDeath 06/24/21 02:56:44 PM
#123   BRST new tier OTCQX. MegaDeath 06/23/21 07:33:33 AM
#122   Thanks for sharing. MegaDeath 02/25/21 12:40:13 PM
#121     I emailed, here is the response. Yes we plan kstocks1 02/25/21 12:37:56 PM
#120   Do you have a link to this voice MegaDeath 02/25/21 08:03:35 AM
#119   I was told they were getting current with kstocks1 02/24/21 10:08:15 PM
#118   Highest volume in 52-weeks. Something is going on....hmmm MegaDeath 02/24/21 03:40:32 PM
#117   Company is working on getting current and should kstocks1 02/20/21 09:27:37 PM
#116   Total liabilities $140 million kstocks1 02/04/21 09:11:29 PM
#115   Total assets over $192 million. kstocks1 02/04/21 09:10:47 PM
#114   Market cap less than $25 million. kstocks1 02/04/21 09:08:08 PM
#113   Highest volume in 52-weeks. MegaDeath 02/01/21 02:35:55 PM
#112   BRST on sale today $1 and cheaper. MegaDeath 09/24/20 02:18:19 PM
#111   Thank you. FINRA also made errors with 2 Renee 12/30/19 09:27:35 PM
#110   It has been corrected later at the day adijas 12/30/19 06:17:42 PM
#109   BRST FINRA deleted symbol: Renee 12/30/19 04:49:15 PM
#108   MedAmerica Properties Inc., MAMP, changed to Broad Street Renee 12/27/19 04:22:52 PM
#107   well two years later....lol MadeBucksOnThis 05/31/19 05:10:57 PM
#106   MedAmerica Properties Inc. Announces The Signing Of Definitive adijas 05/31/19 04:03:19 PM
#105   BARAD: effective July 17,2017 BARAD will change to MAMP: Renee 07/14/17 07:51:56 AM
#104   Banyan Rail Services Inc. changed to MedAmerica Properties Renee 06/19/17 05:37:03 PM
#103   Well when a .70 cent stock does a $hellKing 05/13/17 05:49:30 PM
#102   Medical office buildings. Enterprising Investor 05/13/17 03:23:48 PM
#101   What losers these guys are. Total scammers. $hellKing 05/12/17 07:03:09 PM
#100   Another corporate action for my legacy shares. Enterprising Investor 05/12/17 04:29:41 PM
#99   pre 14c excerpt, ", (1) to change the db7 05/12/17 03:47:36 PM
#98   These guys suck. They prob sold a $hellKing 04/20/16 05:15:54 PM
#97   8k, "Item 1.02 Termination of db7 04/20/16 04:36:00 PM
#96   Banyan Rail Services Inc. Announces Agreement to Acquire Enterprising Investor 02/18/16 02:30:49 PM
#95   depends on the situation.. if Marino had just db7 09/25/15 02:34:39 PM
#94   Paying 25 percent more than private investors would Enterprising Investor 09/25/15 02:07:40 PM
#93   been watching this as I agree with you db7 09/25/15 12:40:43 PM
#92   That might be a record. Ive had $hellKing 07/28/15 03:44:42 PM
#91   More like 20 years. Enterprising Investor 07/28/15 03:42:17 PM
#90   Wow you been holding through 2 splits and $hellKing 07/28/15 03:41:17 PM
#89   Marino is the real deal. Enterprising Investor 07/28/15 03:32:54 PM
#88   My goodness 3200 to 64... Now its $hellKing 07/28/15 03:23:15 PM
#87   Do you think they found something already? $hellKing 07/28/15 03:19:09 PM
#86   BARA is actively seeking acquisitions of leading companies Enterprising Investor 07/28/15 03:13:50 PM
#85   OS 6.4 mil officers own about 6 mil $hellKing 07/28/15 02:17:50 PM
#84   The Company’s board of directors and officers directly $hellKing 07/28/15 02:17:14 PM
#83   AS very very low and about maxed out $hellKing 07/28/15 02:04:04 PM
#82   A sign of an update coming or a $hellKing 07/28/15 02:03:22 PM
#81   This Site Has Been Disabled $hellKing 07/28/15 02:02:59 PM
#80   On second thought. This management is horrible. $hellKing 05/19/15 11:37:36 AM
#79   Not too bad for insider records. There $hellKing 04/28/15 05:17:02 PM
#78   I posted wrong thing. There were 2 $hellKing 04/28/15 05:03:43 PM
#77   BARA Does a 1 for 10 and gets $hellKing 04/28/15 01:32:22 PM
#76   Gary Marino beneficially owns 5,514,725 shares (12/29/15) Enterprising Investor 01/13/15 08:15:01 AM
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