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CFI Mortgage, Inc., Signs Letter of Intent to Expand Mortgage Capabilities With Joint Venture Partner
CLEARWATER, Fla.--(BUSINESS WIRE)--April 17, 2001--CFI Mortgage, Inc. (OTCBB:CFIM - news) announced
today that it has signed a letter of intent with Tidalwave Holding, Inc., (``Tidalwave'') a Florida corporation, to form a joint
venture for the purpose of originating, buying and funding collateral mortgages primarily in the sub-prime mortgage market.
Under the terms of the proposed agreement, a new corporation will be formed. Tidalwave will provide the new corporation with access to its mortgage warehouse lines and secondary marketing and will receive a fee of one percent of each loan funded under the joint venture. CFI, through its wholly owned subsidiary First United MortgageBanc, Inc., (FUMB), will be responsible for all costs associated with the loan originations and will receive all income, less the one percent.
Stephen E. Williams, Chairman, President and CEO of CFI said, ``We are excited about the possibility of a joint venture with Tidalwave Holdings, as it will allow us to expand our operations with additional mortgage warehouse lines and move us closer to becoming a full service
mortgage company, which will include, among other things, the creation
of a mortgage servicing department and a Government Lending Department. As we continue to grow internally, future
acquisitions and joint ventures with established organizations, such as this one with Tidalwave, are an important part of our
growth process.''
CFI provides mortgage services through a large network of mortgage brokers and financial professionals. CFI's goal, through
acquisition and internal growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry. For more information on CFI please visit the Company web site at www.cfiinc.com or that of Responsive Research at responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFI news.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ
materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth
in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Contact:
Responsive Research, Inc., Coconut Creek, Fla.
Richard C. Winkel, 954/977-8699
info@responsiveresearch.com
or
CFI Mortgage, Inc., Clearwater
Marlene Noren, 727/674-1010
mnoren@cfiinc.com
Tidalwave Holdings and CFI Mortgage Sign Letter of Intent to Launch Joint Venture of First American Capital Markets Group.
April 17, 2001 12:05:00 PM ET
FT. LAUDERDALE, Fla., April 17 /PRNewswire/ -- Tidalwave Holdings Inc. (OTC Bulletin Board: TDWV) announces that its has entered into a Letter of Intent with CFI Mortgage, Inc. (OTC Bulletin Board: CFIM). Upon the signing of the definitive Joint Venture Agreement the companies will launch First American Capital Markets Group,Inc., which shall operate as a subsidiary of Tidalwave. The new investment mortgage banking operation, First American Capital Markets Group, Inc. (FACMG), will manage secondary marketing for CFI's First United MortgageBanc, Inc.
Tidalwave's investment mortgage bank subsidiary, First American Mortgage Securities, Inc. (FAMS) of Clearwater, Florida, shall be compensated for each loan funded by FACMG in exchange for providing access to the capital markets via FAMS institutional private placements and securitizations. In addition, FAMS will provide interim financing and warehouse credit lines to the new company.
FAMS is a full service investment mortgage bank that operates a manufactured housing finance conduit, an "ALT A" securitization program, and is a bulk seller via institutional private placement of conforming, jumbo and subprime mortgages which are purchased from banks, credit unions and mortgage companies located throughout the United States.
CFI operates a national wholesale subprime mortgage conduit, First United MortgageBanc, Inc. (FUMB) that purchases loans from a large network of mortgage brokers and financial professionals.
Tidalwave President Leon Kline stated, "Tidalwave is thrilled to enter into a long range relationship with a company such as CFI, who seeks to combine technology and finance with innovative solutions." Kline continued, "The potential to expand and develop this relationship is virtually unlimited and Tidalwave expects to enjoy a long and mutually prosperous relationship with CFI."
Safe Harbor for Forward-Looking Statements: Except for historical information contained herein, the statements in this new release are forward- looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in the future periods to differ materially from forecasted results.
For further information, please contact Leon Kline, Investor Relations of Tidalwave
Holdings Inc., 954-255-6753, Kline@tidalwaveholdings.com,
http://www.tidalwaveHoldings.com ; or Marlene Noren of CFI Mortgage, Inc.,
727-674-1010, mnoren@cfiinc.com, http://www.cfiinc.com
CFIM files 10K second consecutive quarter of profits click on link below:
CFI Mortgage, Inc. Announced Today the Filing of Its Year 2000 Form 10K With the Securities and Exchange Commission Showing the Second Consecutive Quarter of Profitability
CLEARWATER, Fla.--(BUSINESS WIRE)--April 16, 2001--CFI Mortgage, Inc. (OTCBB:CFIM) announced today that it has filed its Form10K for the year 2000 with the Securities and Exchange Commission showing the second consecutive quarter of profitability.
The Company reported net income of approximately $68,000 for the quarter ended December 31, 2000. This is the second consecutive quarter of profitability in more than two and one-half years. For the year ended December 31, 1999, the Company had a negative Shareholder's Equity of approximately $7.7 million. For the year ended December 31, 2000, we have completely turned that around, and currently we have Shareholder Equity in excess of $2 million. As a further sign of the turnaround of CFI, the Company has reduced their working capital deficit from $2,442,858 at December 31, 1999, to a deficit of $1,066,324 at December 31, 2000, a reduction of $1.376,534. For the year ended December 31, 2000, the Company reported Earnings Per Share of $0.17, compared to a loss per share of $0.04 for the year ended December 31, 1999.
Stephen E. Williams, Chairman, President and CEO of CFI stated: "Although the majority of our Earnings Per Share figure is from the forgiveness of debt, the increase in revenues from $21,228 in 1999 to $2,561,922 in 2000, shows that we have
successfully turned our Company around. Not only have we become a viable entity in terms of productivity from operations, we have also successfully restructured our balance sheet to a point where we can attract additional mortgage warehouse and credit lines that will allow us to grow our business."
As a result of the loss of its credit facilities in November 1998, the Company discontinued its mortgage banking operations. The Company did not have any operations during the year ended December 31, 1999 and revenues were limited to $21,228. Revenues for the year ended December 31, 2000 are attributed to both the Company's increased development and marketing of its computer software business through its subsidiary, Surfside Software, and the beginning of its wholesale mortgage lending business through its subsidiary, First United MortgageBanc, Inc. in the third quarter of that year, resulting in a dramatic increase in revenues to $2,561,922 compared to $21,228 in 1999.
CFI provides mortgage services through a large network of mortgage brokers and financial professionals. CFI's goal, through acquisition and internal growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry. For more information on CFI please visit the Company web site at www.cfiinc.com or that of Responsive Research at www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFI news.
This release may contain forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events or
results. Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Future events and actual results could
differ materially from those set forth in, contemplated by, or underlying the
forward-looking statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect of government
regulation, competition and other material risks.
http://10kwizard.ccbn.com/contents.asp?iacc=1435726&CN=&FC=000000&BL=&BK=FFFFFF&...
Kama,
Great trading to end the week heading into the Easter weekend. I'm definitely looking forward to the coming week with the possible filing of the 10k. Also in case you didn't get a chance to check out the WSJ article on Investors Hub, thought I'd share it with the board:
http://public.wsj.com/sn/y/SB987167206854287277.html
Stock price moving upward and 10K should be filed soon given the 90 day deadline is April 15,2001.
The rest will be history.
Investor Update Vol. 1 No. 3 April 4, 2001
Prepared by: Richard C. Winkel
President, Responsive Research, Inc.
CFI Mortgage, Inc. (OTCBB: CFIM) continues a technical up trend in a very choppy market. It looked like some profit taking yesterday and perhaps market makers covering shorts.
The Company announced on Monday, last, that they had filed Form 12B-25 with the Securities and Exchange Commission because of scheduling problems with its auditors (the small caps are always last on the list when it comes to year-end filings) and issues regarding a former executive. Stephen E. Williams, Chairman and CEO stated, “We are proud of the fact that we will show a profit from operations for the second consecutive quarter. It has been my mission to grow the business both diversely and profitably and I believe that our 10KSB will show our shareholders that we are accomplishing our goals and fulfilling our promises.”
As a matter of clarification, the $400,000 in funds and bonds that Daniel Brown, CFO of CFI, stated were “frozen pending further investigation from the authorities.” Are actually due to First United MortgageBanc once certain paperwork, which was diverted by a former executive, is delivered to the proper banking authorities. Those files are now in the process of being delivered and the transaction will be completed, thus releasing those funds. The funds that were illegally endorsed and deposited by another company are estimated to be in the range of $40,000 to $60,000 and the Company anticipates that it
will recoup 100% of those dollars, which are believed to be frozen in the perpetrators account or through bonding insurance in place.
To receive periodic Investor Updates and up to the minute news releases for CFIM please register at our web site http://www.responsiveresearch.com/ or call 954-977-8699.
DISCLAIMER
Responsive Research, Inc. prepared this material for the Company discussed herein upon Company supplied information or other sources believed to be reliable. The information is not guarantee by Responsive Research for accuracy or to be all-inclusive. The materials contain forward-looking statements that contain risks and uncertainties. Actual results could differ materially from those discussed in these forward-looking statements. Although Responsive Research believes that the statements are reasonable, it cannot give assurances that such expectations will prove to be correct. This material is
for informational purposes only and it not an offer or solicitation of an offer to buy or sell securities. It is strongly recommended that any purchase or sale decisions be discussed with a financial advisor or broker prior to completing any such purchase or sale decision. Responsive Research will be compensated by CFIM in the amount of $4,000 per month
plus 100,000 options to purchase free trading shares of CFI Mortgage, Inc. for the preparation and distribution of this report, as well as other investor relations services. Responsive Research its affiliates, and/or officers, directors and employees may buy or sell or have a position in the securities discussed in this report and may profit in the event
that the shares of the Company discussed in this report rise in value.
FreeEDGAR Alert: CFI MORTGAGE INC NT 10-K
http://www.freeedgar.com/search/WL.asp?C=1036071&F=NT_10-K&D=4/2/2001
Monday April 2, 7:33 am Eastern Time
Press Release
CFI Mortgage, Inc., Files Form 12B-25 As
Profitability Continues for the Second Consecutive
Quarter
CLEARWATER, Fla.--(BUSINESS WIRE)--April 2, 2001--CFI Mortgage, Inc. (OTCBB:CFIM - news) announced today that it has filed Form 12B-25 with the Securities and Exchange Commission noting that there were issues regarding a former executive, which needed to be properly and thoroughly reviewed before the Company was prepared to issue its financial statements. The Company expects that its annual 10KSB will be filed sometime next week.
Stephen E. Williams, Chairman and CEO of CFI, stated ``The turnaround of CFI, which was evident in the profit from operations in the third quarter continued in the fourth quarter of year 2000. Although we had to file Form 12B-25 due to our auditor's scheduling conflicts and issues regarding a former executive, we are proud of the fact that we will show a profit from operations for the second consecutive quarter.' Williams added, ``It has been my mission to grow the business both diversely and profitably and I believe that our 10KSB will show our shareholders that we are accomplishing our goals and fulfilling our promises.'
CFI provides mortgage services through a large network of mortgage brokers and financial professionals. CFI's goal, through
acquisition and internal growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry.
For more information on CFIM please visit the Company web site at www.cfiinc.com or that of Responsive Research at www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFIM news.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ
materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth
in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Contact:
Responsive Research, Inc., Coconut Creek, Fla.
Richard C. Winkel, 954/977-8699
info@responsiveresearch.com
or
CFI Mortgage, Inc., Clearwater
Marlene Noren, 727/674-1010
mnoren@cfiinc.com
Cfi will file 10K results soon with a bright future ahead. Thanks to management taking appropriate actions dealing with the internal setbacks caused by VP Gary Fioretti FUMB is on its way to higher revenues which means greater profits. Software division contributions to operation revenues are not to far away. I believe Cfi investors will be very happy beyond expections.
Thanks to the CFI Team
CFI Mortgage, Inc. Investor Update
CFI Mortgage, Inc.(OTC BB: CFIM)
Investor Update
Vol. 1 No. 2
March 26, 2001
Prepared by: Richard C. Winkel
President, Responsive Research, Inc.
On March 14th 2001 CFI announced the hiring of Robert Scarpetta, as the new President of its subsidiary, First United MortgageBanc, Inc, (FUMB). Mr. Scarpetta comes to FUMB with over twenty years of mortgage banking experience and a proven track record as a growth-oriented executive with the utmost in management skills. As President and COO of AABCO Mortgage Loans and Investments, Inc., Mr. Scarpetta designed operational and educational programs that positioned AABCO as one of the largest mortgage brokerage firms in the United States, expanding from a single office in
St. Petersburg, Florida to forty-one locations encompassing an eight state area. His marketing strategies showed significant annual increases of total loan volume. Subsequently, Mr. Scarpetta was instrumental in initiating the sale of AABCO to Crown Bank FSB.
A second press release on March 22nd 2001 noted that another CFI subsidiary, Surfside Software Systems, Inc., had strengthened its position in the South Florida marketplace through the installation of its “Automatic Routing Module” at Medical Care Transportation (MCT) in Miami. MCT’s General Manager Sergio Mansilli stated “It normally took us eight hours to manually set up our daily vehicle routing manifests and with the new Surfside software it now takes us less than five minutes.”
Surfside’s TranWareTM programs are also being used in the Miami area by the Super Yellow Cab Company, in its 260 taxicabs and SuperShuttle of Miami in its fleet of vans. In addition to TranWareTM, Sterling Services, Inc. uses Surfside’s WinLimoTM system to manage its corporate sedans and limousines.
In a Shareholder’s Letter dated January 24, 2001 Stephen E. Williams, Chairman and CEO said, “Many of our projects have been evaluated and reevaluated many times to enhance our position in the wireless communications and Internet field and as a provider of technology-based business solutions. Through acquisitions and redeployment of internal personnel we are developing one of the most sophisticated and comprehensive software modules available in the transportation industry today. To that end, we have intentionally delayed the commitment to many corporate client
agreements for our products and services in order to maximize our income stream by creating ongoing income rather than allowing this unique product to be sold as a one time only purchase. Service contracts will allow us to more precisely project ongoing income and revenues as opposed to estimating anticipated sales.”
Mr. Williams stated in a Shareholder’s Letter dated March 22, 2001 “As you may be aware, the Third Quarter 10QSB fining with the Securities and Exchange Commission (SEC) demonstrated the pronounced financial turning point of your company. CFI Mortgage, Inc. produced its first profitable quarter since going public in the summer of 1997. Presently, our auditors, Weinick, Sanders, Leventhal and Company, LLP, New York, New York, are completing our annual report (10KSB) for filing with the SEC prior to April 1, 2001.”
“The results demonstrated within your annual report will further support our continued profitability through the Fourth Quarter, 2000. It comes as no surprise that our stock price does not reflect such progress within the environment of the current stock market. However, we find solace in the fact that when stability of evaluations is found within the public market place, our time of recognition will be realized” Mr. Williams added.
According to Daniel Brown, CFO of CFI, “In January, we discovered to our misfortune that a main source of our income was being illegally endorsed and deposited by another company, which is owned by a former Director of CFI, Inc. As a result we began criminal and civil action against that individual and as part of the process we have close to $400,000 in funds and bonds that are frozen pending further investigation from the authorities.” CFI is in the process of obtaining additional funding through the issuance of collateralized debentures, which will allow it to rectify this temporary setback.
Based on the present interest rate cuts, CFI’s subsidiary, First United MortgageBanc, Inc., should experience expansion of its profitability and under the guidance of Mr. Scarpetta could become a leader in the mortgage banking industry.
Even with the present depressed market conditions, CFI has bounced off new lows and actually developed a positive trend change during the last few sessions. Light volume indicates investor cautiousness, but the upward trend shows that interest in CFI is developing a broader base. As the Company continues to progress and make announcements on a regular basis the overall interest in CFI should prove to be an affirmation to current shareholders.
Our overall opinion of CFI is that it is a strong buy at these prices and a long-term hold. Our price objective for year-end 2001 is $2 to $4 dollars, which is solely dependant on overall market sentiment and the continued growth of both the mortgage banking and software divisions.
To receive periodic Investor Updates and up to the minute news releases for CFIM please register at our web site www.responsiveresearch.com or call 954-977-8699.
DISCLAIMER
Responsive Research, Inc. prepared this material for the Company discussed herein upon Company supplied information or other sources believed to be reliable. The information is not guarantee by Responsive Research for accuracy or to be all-inclusive. The materials contain forward-looking statements that contain risks and uncertainties. Actual results could differ materially from those discussed in these forward-looking statements. Although Responsive Research believes that the
statements are reasonable, it cannot give assurances that such expectations will prove to be correct. This material is for informational purposes only and it not an offer or solicitation of an offer to buy or sell securities. It is strongly recommended that any purchase or sale decisions be discussed with a financial advisor or broker prior to completing any such purchase or sale decision. Responsive Research will be compensated by CFIM in the amount of $4,000 plus 100,000 options to purchase free trading shares of CFI Mortgage, Inc. for the preparation and distribution of this report, as well as other investor relations services. Responsive Research its affiliates, and/or officers, directors and employees may buy or sell or
have a position in the securities discussed in this report and may profit in the event that the shares of the Company discussed in this report rise in value
CFI's Surfside new intro web page awesome
http://www.surfside.com/
Surfside Software Systems, Inc., a Subsidiary of CFI Mortgage, Inc., Expands Its Penetration of South Florida Marketplace
CLEARWATER, Fla., Mar 22, 2001 (BUSINESS WIRE) -- CFI Mortgage, Inc.
(OTCBB:CFIM) announced today that its subsidiary, Surfside Software Systems,
Inc., has strengthened its position in the South Florida marketplacethrough the installation of its new "Automatic Routing Module" at Medical Care Transportation (MCT) of Miami, Florida. MCT currently uses the TranWare(TM) suite of products for order entry, scheduling, dispatching and billing.
Steven Furniss, V. P. and Director of Software Operations for CFI stated, "By using TranWare(TM), MCT has been able to be extremely competitive in the Miami market and they believe the addition of our `Automatic Routing Module' will allow them
to become the area leader in non-emergency medical transportation."
Sergio Mansilli, General Manager of MCT said, "It normally took us eight hours to manually set up our daily vehicle routing manifests and with the new Surfside software it now takes us less than five minutes." TranWare(TM) programs are also being used in the Miami area by the Super Yellow Cab Company, in its 260 taxicabs and SuperShuttle of Miami. In addition
to TranWare(TM), Sterling Services, Inc. uses Surfside's WinLimo(TM)system in its corporate sedans and limousines.
Stephen E. Williams, Chairman, President and CEO of CFI said, "We are very excited about Surfside's penetration into the Miami area marketplace. Although the development of the software took longer than anticipated, we are now in a position to expand our market area and look forward to profitability from our Surfside subsidiary." CFI provides mortgage services through a large network of mortgage brokers and financial professionals. CFI's goal, through acquisition and internal
growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry.
For more information on CFIM please visit the Company web site at www.cfiinc.com or that of Responsive Research at www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFIM news.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
CONTACT: Responsive Research, Inc., Coconut Creek, Fla.
Richard C. Winkel, 954/977-8699
info@responsiveresearch.com
or
CFI Mortgage, Inc., Clearwater
Marlene Noren, 727/674-1010
mnoren@cfiinc.com
URL: http://www.businesswire.com
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KEYWORD: FLORIDA
INDUSTRY KEYWORD: BANKING
SOFTWARE
TRANSPORTATION
CFI MORTGAGE, INC. HIRES A NEW PRESIDENT FOR FIRST UNITED
MORTGAGEBANC, INC. FOR IMMEDIATE RELEASE
http://www.cfiinc.com/index.cfm?fuseaction=news
CFI Mortgage Posting 46% Gains
http://www.otcbbnn.com/news371.htm
Clearwater, FL -- (OTCBB NEWSWIRE) -- March 14, 2001, CFI Mortgage, Inc. (CFIM: .19) is climbing off its 52-week low of $.078 achieved last Friday, March 9. Today the company announced its subsidiary First United MortgageBanc, Inc. (FUMB) has hired Mr. Robert Scarpetta as its new President and COO.
Additionally, buyers may be coming in on the anticipated release of yearly financial results. Previous financial results, for
the nine months ended 9/30/00, revenues totaled $1.5 million, up from $1 thousand. Net loss applicable to common, before
extraordinary item, totaled $1.3 million, up from $627. The company recently refocused direction from a financial services company, to diversify its product offerings and focus on two major trends: wireless communications and Internet capabilities, both highly competitive markets.
The 52-week high, $1.81, was achieved March 29, 2000. The average daily volume is 80,000. Today's volume, 114,800, has already surpassed the daily average. The float is 16.9M. Currently, CFIM is higher by $.06 (46%).
http://www.otcbbnn.com/news371.htm
CFI Mortgage, Inc. Hires a New President for First United MortgageBanc, Inc.
Wednesday March 14, 1:06 pm Eastern Time
Press Release
CLEARWATER, Fla.--(BUSINESS WIRE)--March 14, 2001--CFI Mortgage, Inc. (OTCBB:CFIM - news) announced today that it's subsidiary First United MortgageBanc, Inc. (FUMB) has hired Mr. Robert Scarpetta as its new President and COO. Mr. Scarpetta comes to FUMB with over twenty years of mortgage banking experience and a proven track record as a growth-oriented executive with the utmost in management skills. As President and COO of AABCO Mortgage Loans and
Investments, Inc., Mr. Scarpetta designed operational and educational programs that positioned AABCO as one of the largest mortgage brokerage firms in the United States expanding from a single office in St. Petersburg, Florida to forty-one locations encompassing an eight state area. His marketing strategies showed significant annual increases of total loan volume. Subsequently, Mr. Scarpetta was instrumental in initiating the sale of AABCO to Crown Bank FSB.
Stephen E. Williams, Chairman, President and CEO of CFI said, ``We are very pleased to be able to attract an executive of
Bob Scarpetta's caliber. He brings a solid background and formidable managerial experience in the mortgage industry to FUMB. Under Bob's direction, I feel we have enhanced our ability to become a significant participant in the mortgage banking industry.'' Mr. Williams also stated, ``Mr. Scarpetta replaces Gary Fioretti, whose resignation from the Board of Directors was accepted last month and subsequently Mr. Fioretti was terminated from his employment `for cause.' The details of Mr. Fioretti's resignation and termination are of a sensitive nature and will not be disclosed at the present time pending further investigation. The reasons for his departure will not have an adverse effect on the long-term growth of FUMB, which I believe will thrive under Mr. Scarpetta.'' Additionally, Mr. Williams said that, ``Due to the rapid expansion of FUMB and the ever-increasing potential of our software subsidiaries, the projections that I promised for late February will not be available until the second quarter. Additionally, within this time frame, major contracts and installations that have been initiated for Surfside Software's TranWareTM products will be disseminated to the public. As we continue the augmentation of our software products, the projected income continually increases and therefore I need this additional time to present the most accurate data and assumptions possible.''
CFI provides mortgage services through a large network of mortgage brokers and financial professionals. The CFI's goal, through acquisition and internal growth, is to be a diversified leader creating custom software that provides technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage industry. For more information on CFIM please visit the Company web site at www.cfiinc.com or that of Responsive Research at www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor updates and market letters, which will keep you apprised of all late breaking CFIM news.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
Contact:
CFI Mortgage, Inc., Clearwater
Marlene Noren, 727/674-1010
mnoren@cfiinc.com
or
Responsive Research, Inc., Coconut Creek, Fla.
Richard C. Winkel, 954/977-8699
info@responsiveresearch.com
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CFIM's New Website is up click below:
http://www.cfiinc.com/
I need to bring to your attention that for those of us (me included) who are expecting the Annual financial report to be posted next week, I confirmed (because I forgot) with EDGAR that the 10K annual financial report have a 90 day reporting window different from the 10Q which is 45 days.
CFIM's 10K financial report will be due for filing March 31,2001 or there abouts. The 10K Annual financial report have to be audited financials so it is usually a very busy period for all CPA firms. I would expect CFIM to file its 10K sometime in March.
It would be nice if they surprised us and filed next week but that wouldn't be fair. Maybe CFIM will surprise us in other ways.
The diamond will sparkle soon.
On March 10, 1999, CFI commenced a voluntary petition for relief under Chapter 11 of Title 11 of the United States Bankruptcy Code in the Southern District of Florida. On July 6, 1999, the bankruptcy court confirmed a Plan of Reorganization, pursuant to which CFI was discharged from any debt that arose before the date of confirmation. The effective date of the Plan was on August 2, 1999.
CFI had a negative shareholder value of $10,498,303 and did not have any operating subsidiaries. For the quarter ended June 30, 2000 CFI realized an extraordinary gain on the forgiveness of debt of 4,301,439 due to the dissolution of the company's former subsidiary, Direct Mortgage Partners, and the successful negotiations with creditiors corresponding pre-petition liabilities as a result the balance sheet moved up to a positve $1,024,719.
The financial results for the quarter ended September 30, 2000 which was filed on Nov 14, 2000 reported a profit of $167,760 from operations. This marked the first profitable quarter from operations since Mr.Steve Williams and his team took over as Management.
The shareholder equity is now a positive $1,448,460, First United Mortgage Banc Inc. is in full operations and should be growing in revenues. The direction of CFI's plan of execution is developing into a profitable and expanding future. The 10K should be very exciting for all because of the pattern that Cfi should hopefully show given the past actions thus far.
I am hopeful that the company does post an increase in revenues for the quarter ended December 2000. This will be the fourth consecutive quarter of increased revenues. 1Q/2000-$124,000, 2Q2000-$311,856, 3Q2000-$1,090,188, 4th ? as for profit this would reflect the 3rd consecutive quarter of profit. This pattern should have a positive impact on CFIM.
I believe this will be exciting and a confidence reward for all of us that have had the opportunity to experience a once in a life time observation of a Professional Team in action. The diamond that is about to sparkle. My admiration to Mr. Steve Williams is due to the actions that he has shown throughout the entire year. The adversity and challenges that have presented themselves to the company have been met with the intensity of a competitor that has a clear focus on winning!!!.
New Letter to Shareholders posted on January 24, 2001 click on link below
http://www.cfiinc.com/corporate_overview/lettertoshareholders.shtml
Mele Kalikimaka me ka Hauoli Makahiki Hou---Merry Christmas and Happy New Year From Hawaii
Wishing all very prosperous 2001
CORPORATE PROFILE
CFI, INC. AND SUBSIDIARIES
The Company was originally founded in 1989 as Creative, Inc. and operated as a
licensed mortgage lender in North Palm Beach, Florida. In 1995 the Company became
CFI Mortgage, Inc. (OTC BB: CFIM) and today is located in Clearwater, Florida.
Stephen E. Williams, Chairman and CEO of CFIM joined the Company in August
of 1999 when it had negative shareholder equity of $10 million and no revenue production.
Since that time Mr. Williams has guided CFIM out of bankruptcy and into profitability in just
16 months. To his credit CFIM showed a profit of $167,760 for the third quarter of 2000
and positive shareholder equity of $1,448,460, wiping out the previously stated $10 million
deficit. Mr. Williams has implemented a unique and revolutionary business model
combining the financial services and software product segments of the Company through
the efficient use of advanced technology. CFIM is at this time a classic turn around
situation, which we believe will continue to grow as quality professionals are added to
management under Mr. Williams direction.
The rapid growth to profitability of CFIM has come in part from the reviving of the
mortgage business, as well as through acquisitions, which help diversify CFIM into a
mini-conglomerate. The growth has evolved as follows:
First United MortgageBanc, Inc. (FUMB), was created as the mortgage arm of
CFIM and since inception in June 2000 has generated positive net income, increasing
monthly. Through a network of mortgage brokers FUMB packages mortgages to be sold
in the secondary market, which management believes is the fastest growing and most
profitable segment of the mortgage industry.
Surfside Software, a specialist in the field of software for the ground transportation
industry, was acquired in January 2000. Their product line, TranWareTM is recognized
as the industry leader. This product will be expanded and offered to other service oriented
businesses. The overwhelming acceptance of TranWareTM led to the formation of North
American Metro Dispatch, Inc. in November 2000.
North American Metro Dispatch, Inc. provides products and services to the
transportation businesses that serve New York City. Through its affiliate, North American
Mobile, Inc., they are the primary provider of two-way wireless data and voice
communications to over 7000 vehicles in the metropolitan New York area, all of which are
potential users of TranWareTM software. North American Metro anticipates contracts
from Fortune 500 companies in the New York area to utilize BlackcarTM (corporate sedan
software) for transporting executives of these companies. This area offers huge potential
for both North American Metro and Surfside.
As CFIM continues to diversify its product lines it intends to capitalize on wireless
communications and Internet capabilities, which are two major trends in today’s private
and business sectors. CFIM will continue to work with leading companies in these
industries to create new interfaces to serve its growing customer base.
For a more in-depth look at CFIM products and those of its subsidiaries please
visit their respective web sites at www.cfiinc.com and www.surfside.com.
FINANCIAL HIGHLIGHTS
Fifteen months ago CFIM had negative shareholder equity of $10,498,303 with no
revenue, nor any operating subsidiaries. For the quarter ended June 30, 2000 the
Company realized an extraordinary gain on the forgiveness of debt of $4,301,439 due to
the dissolution of the Company’s former subsidiary, Direct Mortgage Partners and the
successful negotiations with creditors corresponding pre-petition liabilities, leaving the
balance sheet with a positive $1,024,719 of shareholder equity.
The 10-QSB filed on November 14, 2000 indicated that CFIM produced a profit of
$167,760 for the quarter ended September 30, 2000 increasing shareholder equity to
$1,448,460. This significant change is attributable to the first full quarter of operations for
First United MortgageBanc, Inc. and the release of Surfside Software’s TranWareTM
WinLimo product line.
Looking forward, Steve Williams, Chairman and CEO, stated “With the majority of
the balance sheet issues behind us, the Company can now concentrate on revenue
growth and profitability.”
MISSION STATEMENT
The mission of CFIM is to implement a unique and revolutionary business model
combining the financial services and software product segments of the Company through
the efficient use of advanced technology.
CFI MORTGAGE, INC.
BROKER FACT SHEET
Company Name:
CFI Mortgage, Inc.
NASD OTC Symbol:
CFIM
State of Incorporation:
Delaware
Offices:
601 Cleveland St. Suite 500, Clearwater, FL 33755
Date First Publicly Traded:
1995
Investor Relations Firm:
Responsive Research, Inc. (954) 977-8699
Public Relations Firm:
Lagano & Associates (727) 726-7910
Title and Class of Stock:
Common
Shareholders:
1150
Authorized Number of
Shares:
35,000,000
Outstanding Number of
Shares:
24,121,015
Float:
12,664,975
Auditor:
Weinick, Sanders & Leventhal
1515 Broadway, N.Y., N.Y.
SEC/Corporate Attorney:
Jackson Morris, Tampa, FL
Business:
Mortgage services provider and technology-based
business solutions.
Growth Plan:
CFIM’s goal, through acquisition and internal
growth, is to be a diversified leader creating custom
software that provides technology-based business
solutions for the national and international
marketplace, as well as a leader in the mortgage
industry.
DISCLAIMER
This material was prepared by Responsive Research, Inc. for the Company discussed
herein upon Company supplied information or other sources believed to be reliable. The
information is not guarantee by Responsive Research for accuracy or to be all-inclusive.
The materials contain forward-looking statements that contain risks and uncertainties.
Actual results could differ materially from those discussed in these forward-looking
statements. Although Responsive Research believes that the statements are
reasonable, it cannot give assurances that such expectations will prove to be correct.
This material is for informational purposes only and it not an offer or solicitation of an
offer to buy or sell securities. It is strongly recommended that any purchase or sale
decisions be discussed with a financial advisor or broker prior to completing any such
purchase or sale decision. Responsive Research will be compensated in the amount of
$4,000 per month plus 100,000 options to purchase free trading shares of CFI Mortgage,
Inc. for the preparation and distribution of this report, as well as other investor relations
services. Responsive Research its affiliates, and/or officers, directors and employees
may buy or sell or have a position in the securities discussed in this report and may profit
in the event that the shares of the Company discussed in this report rise in value.
CFI Mortgage, Inc. Makes First Investor Presentation to St. Petersburg, Florida Stock and Bond Club
CLEARWATER, Fla., Dec. 11 /PRNewswire/ -- CFI Mortgage, Inc. (OTC Bulletin Board: CFIM) announced today that it
conducted its first investor forum at the St. Petersburg, Florida Stock and Bond Club on Friday, December 8, 2000. Over 150
brokers and individual investors were in attendance to hear Stephen E. Williams, Chairman, President and CEO of CFI
Mortgage, tell about the complete turn around of the Company and the direction which will be taken to make CFI a broad,
technology-based business solutions provider.
Attendees received a complete due diligence package, which included a recently released research report from Wall Street
Research that can be found at www.wallstreetresearch.org. Wall Street Research is known for identifying substantially
undervalued investment opportunities and their track record shows, on average, significant price appreciation and increased
volume in the companies they cover.
Mr. Williams stated, "I feel my presentation was well received and by the amount of questions posed later in the evening, I
sensed a serious interest in CFI as an investment opportunity. We are now formulating a schedule for many other investor
forums to be held during the year 2001."
CFI provides mortgage services through a large network of mortgage brokers and financial professionals. The Company's
goal, through acquisition and internal growth, is to be a diversified leader creating custom software that provides
technology-based business solutions for the national and international marketplace, as well as a leader in the mortgage
industry. For more information on CFI, please visit the Company web site at www.cfiinc.com or that of Responsive Research
at www.responsiveresearch.com where you can subscribe, free of charge, to its mailing list for press releases, investor
updates and market letters, which will keep you apprised of all late-breaking CFI news.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ
materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth
in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect of government regulation, competition and other material
risks.
Company Contact: Agency Contacts:
Marlene Noren Pam Lagano
Vice President, Director of Lagano & Associates, Inc.
Administration and Corporate Secretary plagano@laganoassoc.com
727-674-1010 727-726-7910
Richard Winkel
Responsive Research, Inc.
www.responsiveresearch.com
954-977-8699
SOURCE CFI Mortgage, Inc.
CONTACT: Pam Lagano of Lagano & Associates, Inc., 727-726-7910, for CFI Mortgage, Inc./
Sorry I haven't been responsive during the past few days, but I spent two days with
Steve and his superb staff in Clearwater last week. Every time I go there (now as the IR
coordinator - previously as a shareholder) I'm more impressed. The offices are very
professional, and with the quality of companies they are dealing with this is very
important. Many great things are happening, which we will be relating to the
shareholders in the very near future (hopefully this week). I spent today speaking with a
few of the shareholders who called me and I believe they appreciate Steve's decisions
and efforts as much as I do.
I think we will all be very happy with our investment as CFIM continues to grow. Please
email me any questions or call me at 954-977-8699 and I will try to provide a timely
responsive .
I'm Dick Winkel, President of Responsive Research, which is compensated by CFIM to
provide Investor Relations services.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Good Morning,
I'm Dick Winkel, President of Responsive Research, Inc., which is being compensated
to provide Investor Relations services for CFIM. In the future this statement will follow my
posts for compliance purposes.
I'd like to thank some of you for allowing us to prove ourselves and to those who have
prejudged us, please understand that although we are a new company, I personally
have over 35 years of experience in the financial industry.
I promise to do everything in my power to develop a larger shareholder base for CFIM
and to give Mr. Steve Williams and the Company the recognition they so rightly
deserve.
I will be available to answer any of your questions, either by email or via the telephone.
So please feel free to contact me at any time. I'm sure once we get to know each other
this board will be a great source of information and will allow you, the CFIM
shareholders, to fully understand just what is being accomplished by CFIM
management.
I look forward to a long and fruitful relationship with CFIM and its shareholders.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong Buy)
Responsive Research Adds CFI Mortgage, Inc. To Its Client List Of Emerging Growth Companies
CFIM FOCUSED ON INCREASING SHAREHOLDER VALUE.
COCONUT CREEK, Fla., Nov. 24 /PRNewswire/ -- Responsive Research, Inc. is
pleased to announce that it has been retained by CFI Mortgage, Inc. (OTC Bulletin
Board: CFIM) as its Investor Relations Coordinator. CFIM is a unique turn-around
situation, having emerged from bankruptcy and produced profitability within the last
year.
"After extensive due diligence, we have determined that CFIM meets and exceeds our
criteria as an emerging growth Company, which we are proud to represent," said
Richard C. Winkel, President of Responsive Research. "We will immediately
commence a comprehensive Investor Relations campaign, which will give CFIM and its
Chairman and CEO, Steve Williams the credit they so rightly deserve."
In a November 14, 2000 release Mr. Williams, stated, "This quarter represents more
than the fact that it was the first profitable quarter since taking over the reigns at CFIM in
July 1999. Just 14 months ago, CFIM had a negative $10 million in Shareholder Equity
and was operating under the Bankruptcy Plan of Reorganization. There were no
operating subsidiaries producing revenue. With that now behind us, we have a
Shareholder Equity in excess of $1 million, and more important, our subsidiaries are in
full operation and now focused on revenue growth and profit."
"We research many companies in order to find unique situations to introduce to our
subscribers," said Mr. Winkel. "And the results produced by CFIM are so outstanding,
that we feel once the investment community hears about this Company, many will want
to take a long term position and watch CFIM grow."
CFIM provides mortgage services through a large network of mortgage brokers and
financial professionals. The Company's goal, through acquisition and internal growth, is
to be a diversified leader creating custom software that provides technology-based
business solutions for the national and international marketplace, as well as a leader in
the mortgage industry. For more information on CFIM, please visit the Company Web
site at www.cfiinc.com or that of Responsive Research at
www.responsiveresearch.com, where you can subscribe, free of charge, to its mailing
list for press releases, investor updates and market letters, which will keep you
apprised of all late breaking CFIM news.
Certain statements in this news release may contain forward-looking information within
the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor created by those
rules. All statements other than statements of fact, included in this release, including,
without limitation, statements regarding potential future plans and objectives of the
company, are forward-looking statements that involve risks and uncertainties. There
can be no assurance that such statements will prove to be accurate and actual results
and future events could differ materially form those anticipated in such statements.
SOURCE CFI Mortgage, Inc.
CO: CFI Mortgage, Inc.; Responsive Research, Inc.
ST: Florida
IN: FIN RLT
SU:
11/24/2000 06:00 EST http://www.prnewswire.com
Shareholder letter update by Chairman Williams
http://cfiinc.com/corporate_overview/lettertoshareholders.shtml
CFI Accelerates Investor Relations Efforts With The Addition Of Responsive Research, Inc
Date: Wed, 22 Nov 2000 09:39:47 -0500
CFI Mortgage, Inc. has added the following News Release to its Investor Relations web site.
CFI Accelerates Investor Relations Efforts With The Addition Of
Responsive
Research, Inc
Date(s): 11/22/2000 9:06:00 AM
To view the release click on the following link:
http://ir.ccbn.com/ir.zhtml?t=CFIM&s=400
Thanks To the Team of CFIM another Dream will become a true financial reality. Thank you Mr. Steve Williams and Co. for your hard work and dedication. It is truly an honor to observe the Captain steering CFIM. http://freeedgar.com/Search/FilingsResults.asp?SourcePage=CompanyList&CIK=1036071&UseFrame=1&FormType=&DateFiled=&CompanyName=CFI+MORTGAGE+INC
CFI Announces Financial Results and Files 10-QSB for 3rd Qtr. First Profit in 2-1/2 Yrs.
Indicates Turnaround has Taken Effect
CLEARWATER, Fla., Nov 14, 2000 /PRNewswire via COMTEX/ -- CFI Mortgage, Inc.
(OTC Bulletin Board: CFIM), a broad, technology-based consumer finance and
business software company serving the national and international markets today has
submitted its Form 10-QSB for the three months ending September 30, 2000. The
Company has submitted the filing to the Edgar System for filing with the U.S. Securities
and Exchange Commission and notification to the OTC Bulletin Board and is available
on the Edgar System to the public today.
The Company reported income from operations of $167,760 for the quarter ended
September 30, 2000 compared to a loss from operations of $855,450 for the quarter
ended June 30, 2000. This is the first profit from operations for the Company in more
than two and one-half years.
Steve Williams, President and CEO stated, "This quarter represents more than the fact
that it was the first profitable quarter since taking over the reigns at CFI in July 1999.
Just 14 months ago, CFI had a negative $10 million in Shareholder Equity and was
operating under the Bankruptcy Plan of Reorganization. There were no operating
subsidiaries producing revenue. With that now behind us, we have a Shareholder
Equity in excess of $1 million and more important, our subsidiaries are in full operation
and now focused on revenue growth and profit."
The revenues produced in the current quarter are attributable to the first full quarter of
operations for First United MortgageBanc, Inc., and the release of Surfside Software's
TranWare(TM) WinLimo product, which was received with much excitement. First
United MortgageBanc, Inc. realized significant revenue and profitability in its first full
quarter of operations, and management anticipates a significant contribution to revenue
growth in the next quarter and thereafter. The continued release of Surfside Software's
core Windows technology-based TranWare(TM) applications are expected to positively
impact revenues in future quarters.
CFI has recently restructured to diversify its product offerings, capitalizing on two major
trends: wireless communications and Internet capabilities. CFI's business areas include
flexible solutions for the financial services marketplace, and business management
technology applications for a wide range of industries. For more information on the
Company, visit the newly designed corporate website at www.cfiinc.com.
This release may contain forward-looking statements that involve risks and
uncertainties. These statements may differ materially from actual future events or
results. Forward-looking statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Future events and actual results could
differ materially from those set forth in, contemplated by, or underlying the
forward-looking statements. The risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect of government
regulation, competition and other material risks.
SOURCE CFI Mortgage, Inc.
CONTACT: Marlene Noren, Vice President, Director of Administration and Corporate
Secretary, CFI Mortgage, 727-674-1010; or Agency, Pam Lagano, Lagano &
Associates, Inc., 727-726-7910, for CFI Mortgage (CFIM)
http://www.prnewswire.com
(C) 2000 PR Newswire. All rights reserved.
3rd quarter Financial Results ( 10-QSB ), for period ending September 30, will be filed with the SEC on Nov. 13 after the market closes> http://www.cfiinc.com/index.shtml
CFIM Subsidiary Surfside Software signs Joint Venture with North American Mobile Systems
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cfim&script=410&layout=-6&item_id=123532
CFIM debut its surfside software succesfully. Revenues from surfside will have a positive impact on the overall CFIM earnings. Thanks to the CFIM team we have a winner.
CFI Announces Surfside to Exhibit at International Taxicab and Livery Association; WinTaxi, TranWare's Newest Product Addition, to be Demonstrated
CLEARWATER, Fla.--(BUSINESS WIRE)--Sept. 29, 2000--CFI Mortgage, Inc. (OTCBB:CFIM), a broad, technology-based
consumer finance company serving the national and international markets, today announced that its wholly-owned
subsidiary, Surfside Software Systems, will exhibit at the ITLA (International Taxicab and Livery Association) Annual
Convention and Trade Show at Caesars Palace, Las Vegas, Nevada, October 2nd through 4th.
"Visitors to the Surfside booth will be able to catch a glimpse of the exciting growth potential that exists with the Genesis
technology from RJ Systems. The successful roll-out of the WinTaxi(TM) system paves the way for Surfside's entry into
vertical markets," said Stephen Williams, President and CEO. "In addition, for the first time, we will also be discussing the
utilization of our headquarters training center for advanced customer training to provide resellers, dealers and distributors with structured instruction. We will work together to insure they are equipped to preserve their investment in our services, and sell and implement the wide variety of high-performance TranWare systems throughout the marketplace," Mr. Williams continued.
System modules, including order entry, dispatch, scheduling, cashiering, billing and vehicle maintenance, will be showcased at the ITLA. Recently featured on The Discovery Channel's "On the Inside" program as well as in other broadcast media, the automatic mobile data terminal dispatch and automatic vehicle location (AVL) systems will be displayed. Hardware from Qualcomm, CES Wireless Technologies, Rim Pagers and King Communications, representing new interfaces for the TranWare AutoDisp dispatching system, will also be on display.
TranWare's newest product addition, WinTaxi, will be demonstrated. Exploiting the power of the latest Microsoft Windows(R) technology and bringing a new level of sophistication and flexibility to the ground transportation market, WinTaxi was designed using Genesis technology from RJ Systems.
The staff of RJ Systems is finalizing their relocation from California to Clearwater. Pending results from the Financial
Valuation Group of Florida, the acquisition of RJ systems by CFI Mortgage, Inc., is expected to close by October 15th.
CFI has recently restructured to diversify its product offering, capitalizing on two major trends: wireless communications and Internet capabilities. The Company is continuing to work with leading companies in this industry, creating new interfaces to serve a growing customer base while intensifying its acquisition search for companies that fit its long-term growth strategy.
For more information on the Company, visit the corporate website at www.cfiinc.com.
This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ
materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
CONTACT:
Dow Jones finally post latest press release on CFIM. Maybe the investment community will finally see what a great company this is and the outstanding leadership that is destined to win. The companies progress to date isthe result of hard relentless work. Thanks to Mr. Steve Williams
I retrived a message posted by LorenS@ragingbull.com. The message read as follows:
I had a conversation with Steven Williams this morning. The company looks like it is in great
shape. While he couldn't share too many details, the impression I have is that investors have
a lot to look forward to in the coming months. One thing he did share is that he did not expect
any further dilution. Revenues are ramping up pretty much as predicted in the previous PR.
Regarding the RJ Systems acquisition, they are already on the CFIM payroll. The legal folks
are working out some more details before the deal can be concluded once and for all. RJ
Systems has 11 completed products that can bring revenue into the company. Surfside is
doing great. Their taxi and limo products are being evaluated around the country and Mr.
Williams was optimistic that they could be very successful in the near future. If and when
Surfside sells these products, they will bring on-going revenue into the company, not just
one-time sales. Mr. Williams said that CFI is looking at a number of potential acquisition
targets. All in all, I feel more optimistic than ever about CFIM's prospects after this
conversation.
CFI on the move from ($10,498,303) as of 9/99 to positive $1,024,719 as of 6/30/00
Williams, in looking to future quarters stated "with the majority of the balance sheet
issues behind us, the Company can now concentrate on revenue growth and
profitability." Williams added that the revenues generated by the Company in the
month of July 2000 alone, surpassed total revenues for the three-month period
ended June 30, 2000.
The following table highlights key transitions in the strengthening of CFI's balance sheet over the last year:
Period Ended: 09/30/99 12/31/99 03/31/00 6/30/00
Assets: $ 210,505 $ 178,718 $ 1,612,752 $ 4,710,259
Liabilities: $10,708,808 $ 7,862,038 $ 8,211,446 $ 3,685,540
Shareholder
Equity: -$10,498,303 -$ 7,683,320 -$6,598,694 $ 1,024,719
log on to CFIM
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cfim&script=400
Mr. Stephen Williams elected Chairman of the Board log on below
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cfim&script=400
Discovery Channel features Surfside Software August 27 log on below
http://biz.yahoo.com/bw/000823/fl_cfi_mor.html
CFIM Post earnings WOW log on below
Press Release
http://www.corporate-ir.net/ireye/ir_site.zhtml?ticker=cfim&script=410&layout=-6&item_id=112204
Edgar Filing
http://www.freeedgar.com/oem/ccbn1/ViewFilingsContentNF.asp?OEMSource=ccbn1&UseFrame=0&Directory=889812&Year=00&SECIndex=3594&Extension=.tst&PathFlag=0&TextFileSize=111254&CIK=1036071&datefiled=8/21/2000&formtype=10QSB&CompanyName=CFI+MORTGAGE+INC
CFI Mortgage, Inc., Files 12B-25; Company On Target With Growth
Objectives
CLEARWATER, Fla.--(BUSINESS WIRE)--Aug. 15, 2000--CFI
Mortgage, Inc. (OTCBB:CFIM), a broad, technology-based
consumer finance company serving the national and international
markets, announced that yesterday it filed Form 12B-25 with
the Securities and Exchange Commission.
Steve Williams, president and CEO stated "the turnaround of CFI
Mortgage, which began one year ago, has come full circle
as the Company is on target with growth objectives." Williams cited
the extra reporting requirements placed on the Company
during the current reporting period as the primary reason for the delay
and is confident that the filing will be completed by
week's end.
The additional reporting requirements for the current period in addition
to normal operations include:
-- A full two-year audit of the books and records of Inventek, d.b.a.
Surfside Software Systems; and
-- A full audit of the Company's newly formed subsidiary First United
MortgageBanc, which includes the assets purchased in the quarter
from Flamingo Financial Services.
In addition to reporting information from normal operations for the
quarter ended June 30, 2000, the Company also finalized
several major financial issues which resulted in the elimination of
liabilities from the Company's balance sheet. These issues
that were finalized include, but are not limited to, the outstanding
claim objections from the Company's bankruptcy filing and
the disposition of the Company's former subsidiary, Direct Mortgage
Partners, Inc.
Williams further added, "It has been my mission to grow the business
both diversely and profitably. While the Company did
hire a new Chief Financial Officer on July 18, it did not do so until the
Company was profitable." One of the primary
responsibilities of this position will be to insure timely reporting with
the SEC. The company expects to report net income for
the six-month period ended June 30, 2000 as compared to a net loss
for the six months ended June 30, 1999.
CFI's goal is to become a diversified eCommerce financial services
company with a 50-state lending capability. The company's
strategy is to introduce a solution into the financial services
marketplace, offering it as the most efficient and flexible
web-enabled mortgage solution that supports all borrowing channels,
consumer direct, retail and wholesale. For more
information on the Company, visit the newly designed website at
www.cfiinc.com.
This release may contain forward-looking statements that involve
risks and uncertainties. These statements may differ
materially from actual future events or results. Forward-looking
statements are inherently subject to risks and uncertainties,
some of which cannot be predicted or quantified. Future events and
actual results could differ materially from those set forth in,
contemplated by, or underlying the forward-looking statements. The
risks and uncertainties to which forward-looking
statements are subject include, but are not limited to, the effect of
government regulation, competition and other material
risks.
CONTACT: CFI Mortgage, Inc., Clearwater
Marlene Noren, Director of Administration
727/674-1010
Observing the progress and watching the strategic structuring which
has transitioned CFIM from a traditional Mortgage company into a
diversified financial company IMO is not a sunday walk in the park.
Steve has been very cautious and CFIM IMO is making progress
through action and not hype. This extension period is not taken
without good reason as stated in the filing. So far CFIM has gone
from bankruptcy to -37,000 net loss to now net income as the reason
stated.Patience is a virtue. Sometimes its difficult but with Steve as
the quarterback I believe we have a shot at the superbowl.
(Voluntary Disclosure: Position- Long; ST Rating- Strong Buy; LT Rating- Strong
Buy)
A Friend of mine told me that surfside had been on the discovery channel as part of a documentary featuring taxi drivers.
I've posted the air times I retrived from discovery.com. If you're interested log on to the address below
http://dsc.discovery.com/tv/tvschedule/episode.jsp?episode=22856000
On the Inside
Taxi Drivers: A Ride on the Wild Side
Driving a taxi is one of the most dangerous jobs
in America; a cab driver is four times more likely
to be murdered on the job than a police officer.
As drivers try to keep themselves safe, cities are
also looking at ways to protect them.
Air Time(s) Eastern/Pacific Time:
DSC Aug 7 2000 8:00 PM
DSC Aug 7 2000 11:00 PM
DSC Aug 27 2000 4:00 PM
Earnings are expected next week.
I see you posted this here...
Is CFIM somehow correlated to this?
Just curious..(I know its not in the PR..)
FM
Ford, Qualcomm Form Wireless Firm
Monday, July 31, 2000
By Todd Nissen
DEARBORN, Mich. (Reuters) - Ford Motor Co. (F.N) on Monday unveiled a partnership with wireless phone technology firm Qualcomm Inc. (QCOM.O) to put Internet, entertainment and safety services into vehicles, joining General Motors Corp. (GM.N) in the race to convert cars into rolling information portals.
Known as Wingcast, the new company will start putting wireless products into Ford vehicles in late 2001. By the end of 2004, the No. 2 automaker envisions almost all of the more than 7 million new cars and trucks it currently produces a year featuring the services.
Ford officials expects Wingcast to charge consumers a beginning monthly fee ranging from $9-$29. The price and level of service, as well as the marketing name, will vary depending on the Ford Motor brand that sells it.
"What we would like to do is build the car into one of the most prominent nodes on the Internet," said Harel Kodesh, a former Microsoft (MSFT.O) vice president who was named president and chief executive officer of Wingcast.
Qualcomm shares, which have been beaten down from a year high of $200, were up 2-8/16 to $64-15/16 on Nasdaq. Ford rose 1/2 to $46-5/8 on the New York Stock Exchange.
Ford has already taken a small step toward outfitting new cars and trucks with the burgeoning "telematics" services that wed telecommunications and information technology. The telematics market is forecast to soar to $42 billion by 2010 from $1 billion in 1998, according to International Data Corp.
This fall Ford will begin offering security features, voice-activated Internet access and wireless telephone service on some of its luxury Lincoln vehicles in the United States and Ford Focus small car in Europe.
But the automaker is behind rival GM, which is preparing to make its OnStar system available across most of its fleet with the 2001 model year this fall. No. 1 automaker GM expects to have more than one million OnStar subscribers by the end of this year, putting it two years ahead of Ford's venture, according to analysts.
Ford and Qualcomm officials on Monday would not offer details of Wingcast products. In general, they said users will get access to safety systems like those that alert police if an air bag deploys. There will also be navigation aids, hands-free telephone and Internet access, as well as connection to entertainment programs that are streamed into the vehicle.
Merrill Lynch analyst John Casesa said it is unclear to what extent Ford will match the OnStar live-person assistance that makes restaurant reservations or summons tow trucks.
Also unknown is what wireless telephone company will provide the phone service. Ford has an agreement with Sprint Corp. (FON.N) that runs out next year.
Nissan Motor Co. Ltd (7201.T) agreed to offer Wingcast services, initially on its Infiniti vehicles. Ford Vice President Brian Kelley said Wingcast is talking with other automakers as well.
Wingcast will be available initially in North America over cdmaOne, Qualcomm's code division multiple access (CDMA), digital wireless networks. Advanced offerings using high-speed wireless data will become available as third-generation cdma2000 and WCDMA networks roll out.
Although it is behind OnStar in subscribers now, Dain Rauscher Wessels analyst Jonathan Lawrence said the technology from Ford/Qualcomm will be more flexible in the long run than the OnStar hardware.
Wingcast will be based in San Diego, where Qualcomm headquarters are located. Shareholders are Ford, Qualcomm and Cartell, a Romulus, Mich. equipment supplier. Investment details were not released, but most analysts said Ford is the likely majority shareholder.
In addition to Kodesh, who was vice president of Microsoft's consumer appliance unit, top management includes Ford Vice Chairman Wayne Booker, who was appointed chairman.
Unlike GM, which has no short-term plans to spin off OnStar, Wingcast is being set up immediately as a separate company that will eventually go public, Kelley said. That should give it the flexibility to draw on other outside relationships, officials said.
Deutsche Banc Alex. Brown analyst Rod Lache said Wingcast could be worth up to $10 a Ford share when it is taken public, probably in 2002. But it is not expected to affect Ford's stock price until more details are out.
Wingcast will eventually have about 300 employees, drawn from Ford, Qualcomm and from outside the companies.
Meantime DaimlerChrysler AG's (DCX.N)(DCXGn.DE) Mercedes luxury unit offers an emergency notification service called Tele Aid that has 130,000 subscribers. Tele Aid will be expanded for 2001. A spokesman for the Chrysler group said telematics is a "high priority," but declined to elaborate further.
CFI's Surfside Debuts WinTaxi at Industry Conference CLEARWATER, Fla.--(BUSINESS WIRE)--July 25, 2000--Surfside Software Systems, Inc., a subsidiary of CFI Mortgage, Inc. [CFIM-news], today announced that WinTaxi(TM), the first successor to WinLimo(TM) will be debuted at the upcoming Southern Taxi Conference. The Southern Taxi Conference, an annual convention attended by key industry operators from the East Central and Southeast U.S, will be held July 29 through August 2 in Myrtle Beach, SC. This is Surfside's fourth year of annual attendance as an exhibitor. "WinTaxi inherits many of the advanced features of WinLimo, such as integrated geodata management, client consolidation, flexible reporting, and media storage," stated Steve Furniss, president of Surfside. Advanced technological features offered will include the ability to dispatch to mobile data terminals (MDTs), alpha numeric pagers, text capable cellular and PCS telephones, and RIM(R) two-way pagers. WinTaxi provides superior performance in terms of implementation flexibility and accuracy. The enhanced design and feature set of this dynamic product is based largely on the knowledge gained from the installations of TranWare(TM), Surfside's flagship ground transportation management system. Fleets both nationwide and in Canada have utilized TranWare modules for order processing, dispatching, cashiering, billing and vehicle maintenance for the past five years. Like WinLimo, WinTaxi can be used by small fleets in a single user configuration as well as by larger fleets utilizing client-server database technology. All Windows(R) based solutions offered by Surfside feature full on-line help and multimedia tutorials. CFI is a broad, technology-based consumer finance company serving the national and international markets. The Company's goal is to become a diversified eCommerce financial services company with a 50-state lending capability. The company's strategy is to introduce a solution into the financial services marketplace, offering it as the most efficient and flexible web-enabled mortgage solution that supports all borrowing channels, consumer direct, retail and wholesale. For more information on the Company, visit the newly designed website at www.cfiinc.com. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but a re not limited to, the effect of government regulation, competition and other material risks. --30--pp/mi* CONTACT: CFI Mortgage, Inc., Clearwater Marlene Noren, Director of Administration 727/674-1010 or Lagano & Associates Pam Lagano, 727/726-7910 Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com (c) 1998 Business Wire
CFI's Surfside Announces Partnership With Qualcomm and Other
Leading [CFIM-news]
CFI's Surfside Announces Partnership With Qualcomm and Other Leading Infrastructure Providers
CLEARWATER, Fla.--(BUSINESS WIRE)--July 24, 2000-- Leading Providers, Partnering with Surfside,to Deliver Wireless Assisted Services to Global Markets Surfside Software Systems, Inc., a subsidiary of CFI Mortgage, Inc. [CFIM-news], today announced strategic development alliances with mobile data equipment manufacturers to enhance the marketability of its TranWare(TM) Transportation Software Suite. On July 21, 2000, a strategic development agreement was signed with Qualcomm [QCOM-news]. Under the terms of the agreement, an interface will be created between TranWare Autodisp dispatching software and Qualcomm's OmniExpress(TM) digital wireless mobile communications system. Qualcomm, a leader in developing and enabling innovative wireless communications products and services based on digital technologies, has been recognized for years as the industry frontrunner for mobile data in the over-the-road trucking industry. The interface with TranWare will bring this technology to Surfside's taxi, limousine and courier customers. Drivers in fleet vehicles will be able to receive and update job/trip information, communicate with the home office via digital text messages or voice utilizing the Sprint PCS(R) network. Through this interface, Surfside will enable its customers to access high-performance location functionality utilizing the wireless assisted GPS (Global Positioning System) technology. "This agreement is a key stepping stone in making TranWare the foundation for the transportation industry," said Steve Furniss, president of Surfside. "We're very pleased to be working with Qualcomm, one of the largest digital developers. This agreement provides for the development of a wider range of product choices to transportation providers for meeting their location server needs." CFI also announced recent alliances with other leading mobile data equipment manufacturers, including King Communications, CES Wireless Technologies, and RLM Software. TranWare Autodisp has been successfully interfaced with the King Communications KDT5000 mobile data terminal system for over two years. Installations are operational throughout the United States and Canada. This system delivers fully automated dispatch capabilities, traditionally available only to the largest of transportation fleets, to smaller operators. Additional interfaces are under development with a variety of providers of mobile data components. Another interface is under development with CES Wireless Technologies, manufacturer of the rugged and reliable TRK-240 terminal that will be utilized in the courier and taxi markets. This terminal can operate on traditional two-way radio as well as packet switched type networks such as CDPD. The WinLimo(TM) product is being interfaced to RLM FlightView(R), an industry leader in providing real-time flight data to ground transportation operators, allowing WinLimo users the ability to identify trips that must be rescheduled due to flight time changes. "Surfside's goal is to meet the challenges of this new information age by addressing the ever-changing needs of its customers," said Stephen Williams, president and CEO of parent company, CFI Mortgage, Inc. "To help them achieve this goal, CFI has made substantial investments in development technology. These investments are funded by revenues from our mortgage business, not by reaching into the equity markets. Our vision is to continue to remain debt-free while fueling technology growth." "Our client base continues to grow due to our commitment to provide the latest technology and the highest levels of service to our customers," said Jim Furniss, VP - Sales and Marketing. Surfside's WinLimo Limousine and Premium Transportation system has recently been licensed to SpeediShuttle, Maui, Hawaii. This multi-user, multi-site installation of WinLimo will showcase the advanced features of the product such as complex zone to zone pricing, cashiering with voucher redemption, multiple order linking, and contract and charter business. CFI is a broad, technology-based consumer finance company serving the national and international markets. The Company's goal is to become a diversified eCommerce financial services company with a 50-state lending capability. The company's strategy is to introduce a solution into the financial services marketplace, offering it as the most efficient and flexible web-enabled mortgage solution that supports all borrowing channels, consumer direct, retail and wholesale. For more information on the Company, visit the newly designed website at www.cfiinc.com. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but a re not limited to, the effect of government regulation, competition and other material risks. --30--jd/mi* CONTACT: CFI Mortgage, Inc., Clearwater Marlene Noren, Director of Administration 727/674-1010 or Lagano & Associates Pam Lagano, 727/726-7910 Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com (c) 1998 Business Wire
CFI's Surfside Announces Partnership With Qualcomm and Other
Leading [CFIM-news]
CFI's Surfside Announces Partnership With Qualcomm and Other Leading Infrastructure Providers
CLEARWATER, Fla.--(BUSINESS WIRE)--July 24, 2000-- Leading Providers, Partnering with Surfside,to Deliver Wireless Assisted Services to Global Markets Surfside Software Systems, Inc., a subsidiary of CFI Mortgage, Inc. [CFIM-news], today announced strategic development alliances with mobile data equipment manufacturers to enhance the marketability of its TranWare(TM) Transportation Software Suite. On July 21, 2000, a strategic development agreement was signed with Qualcomm [QCOM-news]. Under the terms of the agreement, an interface will be created between TranWare Autodisp dispatching software and Qualcomm's OmniExpress(TM) digital wireless mobile communications system. Qualcomm, a leader in developing and enabling innovative wireless communications products and services based on digital technologies, has been recognized for years as the industry frontrunner for mobile data in the over-the-road trucking industry. The interface with TranWare will bring this technology to Surfside's taxi, limousine and courier customers. Drivers in fleet vehicles will be able to receive and update job/trip information, communicate with the home office via digital text messages or voice utilizing the Sprint PCS(R) network. Through this interface, Surfside will enable its customers to access high-performance location functionality utilizing the wireless assisted GPS (Global Positioning System) technology. "This agreement is a key stepping stone in making TranWare the foundation for the transportation industry," said Steve Furniss, president of Surfside. "We're very pleased to be working with Qualcomm, one of the largest digital developers. This agreement provides for the development of a wider range of product choices to transportation providers for meeting their location server needs." CFI also announced recent alliances with other leading mobile data equipment manufacturers, including King Communications, CES Wireless Technologies, and RLM Software. TranWare Autodisp has been successfully interfaced with the King Communications KDT5000 mobile data terminal system for over two years. Installations are operational throughout the United States and Canada. This system delivers fully automated dispatch capabilities, traditionally available only to the largest of transportation fleets, to smaller operators. Additional interfaces are under development with a variety of providers of mobile data components. Another interface is under development with CES Wireless Technologies, manufacturer of the rugged and reliable TRK-240 terminal that will be utilized in the courier and taxi markets. This terminal can operate on traditional two-way radio as well as packet switched type networks such as CDPD. The WinLimo(TM) product is being interfaced to RLM FlightView(R), an industry leader in providing real-time flight data to ground transportation operators, allowing WinLimo users the ability to identify trips that must be rescheduled due to flight time changes. "Surfside's goal is to meet the challenges of this new information age by addressing the ever-changing needs of its customers," said Stephen Williams, president and CEO of parent company, CFI Mortgage, Inc. "To help them achieve this goal, CFI has made substantial investments in development technology. These investments are funded by revenues from our mortgage business, not by reaching into the equity markets. Our vision is to continue to remain debt-free while fueling technology growth." "Our client base continues to grow due to our commitment to provide the latest technology and the highest levels of service to our customers," said Jim Furniss, VP - Sales and Marketing. Surfside's WinLimo Limousine and Premium Transportation system has recently been licensed to SpeediShuttle, Maui, Hawaii. This multi-user, multi-site installation of WinLimo will showcase the advanced features of the product such as complex zone to zone pricing, cashiering with voucher redemption, multiple order linking, and contract and charter business. CFI is a broad, technology-based consumer finance company serving the national and international markets. The Company's goal is to become a diversified eCommerce financial services company with a 50-state lending capability. The company's strategy is to introduce a solution into the financial services marketplace, offering it as the most efficient and flexible web-enabled mortgage solution that supports all borrowing channels, consumer direct, retail and wholesale. For more information on the Company, visit the newly designed website at www.cfiinc.com. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but a re not limited to, the effect of government regulation, competition and other material risks. --30--jd/mi* CONTACT: CFI Mortgage, Inc., Clearwater Marlene Noren, Director of Administration 727/674-1010 or Lagano & Associates Pam Lagano, 727/726-7910 Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: http://www.businesswire.com (c) 1998 Business Wire
CFI Appoints Daniel Brown, CPA Chief Financial Officer
CLEARWATER, Fla.--(BUSINESS WIRE)--July 18, 2000--CFI Mortgage, Inc. (OTCBB:CFIM), a broad, technology-based consumer finance company serving the national and international markets, today announced that Daniel Brown, CPA has been appointed Chief Financial Officer effective July 24, 2000. Previously Brown served as senior accountant at Pender, Newkirk & Co., a leading CPA firm located in Tampa, where he was active in SEC engagements, audits and reviews.
"We are extremely pleased to have Dan join us during this period of rapid growth," said Stephen Williams, CFI president and CEO. "Dan's solid accounting background and SEC experience will be an asset for us moving forward as we expand CFI's global presence and extend our position in the technology marketplace."
Prior to joining Pender, Newkirk & Co., Brown was senior accountant at DDK & Company LLP, New York, supervising staff on audit, review and compilation engagements. Brown earned his B.S. Degree in Accounting from S.U.N.Y. College at Old Westbury and is an active member of the AICPA.
CFI's goal is to become a diversified eCommerce financial services company with a 50-state lending capability. The company's strategy is to introduce a solution into the financial services marketplace, offering it as the most efficient and flexible web-enabled mortgage solution that supports all borrowing channels, consumer direct, retail and wholesale. For more information on the Company, visit the newly designed website at www.cfiinc.com. This release may contain forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.
CONTACT: Company Contact:
CFI Mortgage, Inc., Clearwater
Marlene Noren, Director of Administration, 727/674-1010
or
Agency Contact:
Lagano & Associates, Inc.
Pam Lagano, 727/726-7910
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