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Company annual meeting announced!
July 14, 2020 in Lincoln.
Read the proxy materials to learn more about what is being voted on.
https://www.sec.gov/Archives/edgar/data/355379/000155837020006854/tmb-20200519xprer14a.htm
10-Q Issued!
Summary:
Total Assets $264,028,177 as of March 31, 2020
$219,915,886 as of Dec. 31, 2019
Cash & Equiv $25,506,856 as of March 31, 2020
$43,716,205 as of Dec. 31, 2019
Basic earnings per share in the first quarter of fiscal 2020 were $0.021 which included the aforementioned gain of $23.2 million. Basic loss per share in the first quarter of fiscal 2020 without the aforementioned gain was ($0.002).
Sales of MYGA & FIA products still very strong.
https://www.sec.gov/Archives/edgar/data/355379/000155837020006589/mdwt-20200331x10q.htm
From the Preliminary Proxy Statement:
"The Board believes that the Reverse Stock Split will enhance the Company’s potential ability to obtain an initial listing on a national securities exchange and thereby avoid classification of its common stock as penny stock under the SEC’s rules. The NASDAQ Capital Market, for example, requires an initial bid price of at least $4.00 per share and, following initial listing, maintenance of a continued price of at least $1.00 per share.
Executive Chairman insider share purchase.
Rendevous Capital LLC (owned by Chairman Mike Minnich & his spouse) purchased 11,111,112 shares on April 24, 2020.
https://www.sec.gov/Archives/edgar/data/355379/000181068820000001/xslF345X02/primary_doc.xml
Insider buy - 4/28/2020
Sachin Goel - Director
2,222,223 share purchase.
https://www.sec.gov/Archives/edgar/data/355379/000178276520000002/xslF345X03/primary_doc.xml
New April 2020 Company powerpoint
https://www.sec.gov/Archives/edgar/data/355379/000155837020004382/mdwt-20200427xex99d1.htm
Details of new 8-K filed 4/24/2020
Midwest Holding sold 222,222,222 shares to Crestline Assurance Holdings, LLC at a price of .045 per share, for $10,000,000.
Midwest Holding sold 115,044,467 shares to various investors for .045 per share, for $5,177,000.
As part of the agreement, Midwest agrees to various corporate changes, including the follwing:
"Consistent with its planned corporate structure going forward, the Company will seek stockholder approval to (i) reincorporate in Delaware, (ii) amend its articles of incorporation to have authorized capital stock of 20,000,000 shares of common stock, 2,000,000 million shares of non-voting common stock and 2,000,000 shares of preferred stock, and (iii) effect a reverse split of the Company’s common stock at the ratio of 500 existing shares for one share of new common stock, and (iv) classify, or “stagger” its Board of Directors into three classes. The Company intends to bring these proposals to a vote of its stockholders at its next annual meeting, and the Parties have agreed to vote their shares in favor of these restructuring proposals."
Other corporate changes can be found here:
https://www.sec.gov/Archives/edgar/data/355379/000155837020004305/mdwt-20200424x8k.htm
Things are certainly changing, and with a reverse split of 1 for 500, would put the share price at $35 per share based on today's share price of .07 per share. This would be above any requirement for listing on NYSE or NASDAQ.
I am not concerned about the reverse split. This can only benefit the company.
1505 Capital LLC, a investment advisory subsidiary of Midwest Holding, currently has $300,000,000 in assets under management.
Page 5:
https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=620740
10-K (annual report) is out!
https://www.sec.gov/Archives/edgar/data/355379/000155837020002592/mdwt-20191231x10k.htm
Quick recap:
Investments available for sale: $117,241,861 at Dec 31, 2019 vs. $17,381,183 at Dec 31, 2018
Cash and cash equivilents: $43,716,205 at Dec 31, 2019 vs $2,832,567 at Dec 31, 2018
Total Assets: $219,915,886 at Dec 31, 2019 vs $66,491,249 at Dec 31, 2018
Net Loss per common share: .01 at Dec 31, 2019 vs .22 at Dec 31, 2018
Positive progress is being made!!!
In previous years, the 10-K is out by end of March. 4th quarter 10-Q will be out mid-May.
Does anyone know when the fourth quarter financial data will be out?
Yeah man...that looks really good. Great work! I'm going to start prying on some existing investors and see what they are still thinking on this stock. Maybe I can get a new eye or two to check out this forum.
Definitely. I'll work on it this weekend.
Hey Big Casino: Could you throw some of those sweet numbers from the latest filings in the intro box? Or something to show off Midwest a little.
Have a great day!
Wow MDWT is very boring this year so far!
Nice. Getting this public to the unknown is what they need to tackle now. Hasn't been much action here in 2020 yet. I'm not ready to go with the shares I want, but this has got to start getting engaged. Like what I see in the presentation too.
8-K filed. Good news!
This is being posted to the www.midwestholding.com website. Contains a lot of great information and some hints about the future of the company. Great presentation.
https://www.sec.gov/Archives/edgar/data/355379/000155837020000239/ex-99d1.htm
I wish I had. Still trying.
As for all the other shareholders, I wonder if they have had the same problems transferring their shares as we have had? I just wonder where all these shares are coming from?
Im not aware of any Nebraska laws that would prohibit them from repurchasing shares. Of course, they would need money to do that. They do have $24 million in cash according to the last 10-Q, but probably want to keep that for a "rainy day", acquisitions or for new products. I can appreciate saving dry powder.
One thing I thought of, but don't know if they would or are considering it, would be for the new owners who own 1 billion of the outstanding shares to just buy the rest of the shares outright. I mean, 23 million shares at X per share, they take the company private. They already own 95%, why not just buy the rest?
Just my two cents.
No problem. I feel two fold right now about the price. One, I do hope that it goes a bit lower to load more, but at the same time want the price to go up as everyone else.
The shareholder count is huge. I wonder how many people who initial invested are even watching anymore? I would think a ton of people have that original purchase of $5 per share, and are sitting really red.
I hope that a R/S is not planned too, but the current structure does play into where we are at. Just need some more movement other than two people. If the company keeps producing revenue quarter after quarter, it should get somebodies attention. Are there any Nebraska laws that prohibit companies from buying back shares, or reducing the structure someway without the R/S? I don't know if I'm wording that correctly, but I know some states prohibit that activity for some reason.
Thanks for the update. I certainly hope there is no R/S, but if that's what it takes to get some volume and activity going with the stock, so be it. Would rather the money comes in and people take notice.
When I asked about any new products in 2020, reply was they'll only come out with new products if there is a market demand and if it will be profitable. So, no news there. But I like the answer.
As for transfer, yeah I gave up on transferring to TDA. Which isn't a deal breaker anyway.
Seems a .0999 ceiling. Hope we can break through that one of these days.
Tiny ask slap today with 2.5k. Was able to get some info from IR at MDWT, and they are frustrated with the current PPS. There are some options on the table (not officially) that have been considered and I asked about a reverse split and said that was one of them. Hopefully not, but if the money comes we'll be good...even though we all know this is hardly ever seen on the OTC...
Also, TDA did not accept my transfer due to policy that they now do not accept OTC/BB transfers. Computershare will have to suffice for my original investment.
If you like conspiracies, 500 shares is a signal to gap the stock. In this case the signal would mean gap up. Just fun thoughts. Have a great weekend!
Nice. I hit it yesterday on the ask, but can't get it to take today.
Someone makes a 500 share buy on the ask. .0999
Somebody from Etrade has a 20100 share bid in @ .085. But nobody wants to sell at .085.
what's going on here today...Bid and Ask are higher than the SP, but not moving...
Definitely post here if you hear from the company regarding any plans for public communications and advertising.
As for the share structure, it is what it is.
I don't think the new CEO and Chairman are going to be selling their shares anytime soon, they don't seem like the quick buck type. I could be wrong though. They hold about 1 billion of those shares. Kinda hard to unload that many anyway in thinly traded stock.
Most of my calculations I use for figuring cash per share, book value, etc., I don't figure in their shares, I go on the original 23 million. But to humor myself I add theirs in on occassion.
Float is ok at 22 mil. I don't know if the new guys shares are restricted or not.
I'm hoping they come out with a new product or two in 2020. That will really help juice the financials and hopefully the share price as well.
I'll let you know if I hear anything back from the company regarding the questions i sent.
I have approx 50,000 of my 400,000 goal in my roth IRA. Probably a good idea to have some there.
Yeah i don't blame you for being frustrated when the company was almost on the way out the door. I was too. I was hesitant when the new guys came along, but now I am glad they did.
They certainly changed things for the better!
Yeah I have gone rounds with Computershare in the past about these shares. They love a Medallion guarantee when transferring, and guess how many people are certified in western Nebraska with that type of certification? Not many...
Man you are sitting well, and hopefully this baby starts to soar for us. As I stated in my first post, I got tired of this stock doing nothing and quit paying attention. I've got some ground to cover to start getting my count up and hopefully before this thing is in dollarland. Might start adding them to my IRA too.
I have about 4,000 shares held at Computershare. I tried to get them moved to TDA account but TDA kept asking for some paperwork that I either cant find or don't have.
So, they will just sit there for a while I guess until I can figure something else out. With close to 400K at TDA, the 4k at computershare isn't really a concern.
Big C, were or are your shares held at Computershare? Trying to get my original investment out of there and transferred to my TDA account. Seems like I couldn't do anything with the shares at that brokerage.
What do you think of the current share structure?
Market Cap Market Cap 102,215,680 12/04/2019
Authorized Shares 2,070,000,000 12/03/2019
Outstanding Shares 1,023,179,976 12/03/2019
Restricted Not Available
Unrestricted Not Available
Held at DTC 2,504,443 12/03/2019
Float 22,479,328 04/18/2019
Par Value No Par Value
Yeah things have been ramping up lately internally, which is good, and may make that 52 week low of .021 never been seen again. I'll take it, but some days these prices jump high/low and all over the place on very little volume. Hopefully I am not sitting on my shares next year with the same thing happening this year.
I'll be fighting you for the .02's if it gets that low :)
I don't see it getting that low again. According to the 10-Q, they have at least 1.5 cents in cash for every share issued, so that would be a heck of a bargain at .02 per share.
Good luck!
Nice. I had some powder free up today from another stock so I picked up the 12k today on the ask. Price dropped when I purchased.
Nice goal too. If we get back to .02's I can really load up. Personally, would like to get above 100k shares for my base. 400k is a nice goal.
I'm guessing thats fairly common that nobody has heard about MDWT.
Saving up some dry powder in case the price drops. Trying to get up to 400,000 shares. May just have to buy on the ask though.
Yeah, that is an issue.
THey have a facebook page, American Life & Security Corp. Unfortunately that doesn't help them spread the word about MDWT. They also don't post very often.
I will contact the company and see if they have any plans to increase awareness of the stock and/or company.
Talked with a guy at TD Ameritrade this morning out of Omaha, and he had never heard of Midwest. Need a boost in social media or something to get the word out on this company!
Nice updates Big C. I picked up a little stash here today. Only problem here is there is no activity. Like nobody even knows we're here...
Wow! Someone picked up shares on the ask @ .0999! That will pay off handsomely in a year or so! Gotta love cheap shares of a massively growing company that's flying under the radar!
10-Q is out! Great report!!!
Investments, available for sale, at fair value:
June 2019: $40,753,983
Sept 2019: $67,264,433 (+60%)
Cash and cash equivalents:
June 2019: $10,274,224
Sept 2019: $24,369,609 (+142%)
Total Assets:
June 2019: $94,206,195
Sept 2019: $142,526,651 (+66%)
.002 loss per share for the quarter.
This was a great quarter, despite the very small loss. Investments, Cash and Assets growing like crazy!!
One quote from the current 10-Q:
"We expect that the fourth quarter annuity premium could increase substantially."
https://ih.advfn.com/stock-market/USOTC/midwest-hldg-inc-MDWT/stock-news/81109026/quarterly-report-10-q
Picked up those 3,000 shares today. Don't get left out!
Quarterly financial report should be out this week!
Very exciting times of big growth for Midwest Holding & American Life!
Midwest Holding 10-Q due in a couple of weeks! Based on last quarters report, I am expecting big numbers!
The next quarterly report after that will have numbers from the second new product as well.
I'm buying!
New product out!
https://www.american-life.com/product/american-select/
This is great news and will help grow revenue and profits!!!
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American Life & Security Corp.
2900 South 70th Street, Suite 400
Lincoln, NE 68506
Phone: 402-489-8266
Fax: 402-489-8295
Manage your money into retirement with a secure, low-risk fixed deferred annuity. American Classic provides predictable returns through a fixed, competitively high interest rate and offers innovative features like a Loyalty Bonus that rewards you for helping keep our costs low.
American Select
Grow & protect your savings with a fixed indexed annuity. American Select offers flexible participation in any of three reputable indices or a fixed rate, you can customize your allocation over time to meet your needs. When markets grow, you gain, but should markets decline, your principal remains protected.
Stock Information:
As of March 15, 2021, there are 3,737,564 shares of Voting Common Stock, par value $0.001 per share, issued and outstanding.
As of August 28, 2020, there are 22,000,000 shares authorized, of which 20,000,000 shares are designated as voting common stock and 2,000,000 shares are designated as non-voting common stock. Also available are 2,000,000 shares of preferred stock (zero issued/outstanding).
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