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82 mil basic I believe....fully diluted is maybe 90 or 100 mil including options/warrants out of the money I believe
This high risk speculative gamble appears to now be profitable. Now if they'd only close the damn spread up OR fill me on the bid I'd be one happy camper.
Excellent! Remind me what the share count is. I'm @ a museum & not @ my desk.
MLES -- $1 mil net income = EPS of over .01 or a +.04 pace.
PE of 4 and should grow nicely in 2010....
The Mint Leasing, Inc. Enters Into Purchase and Lease Transactions Involving
Fifty New Toyota Camrys and Corollas
--Company Expects Fourth Quarter 2009 Net Income to Approach $1 Million
HOUSTON, Dec 29, 2009 /PRNewswire-FirstCall via COMTEX/ -- The Mint Leasing, Inc.
(MLES) ("Mint Leasing" or "the Company"), which provides innovative leasing
services to customers of franchised automobile dealers throughout the United
States, today announced that it has purchased fifty 2010 Toyotas (Camry and
Corolla models) from a leading Houston Toyota dealer, utilizing its new and
previously announced credit facility of up to $10 million. The vehicles have been
leased to a major automobile rental agency in San Antonio, Texas.
"This transaction follows the purchase and lease of sixty-one Toyota Corollas
that was announced earlier this month and illustrates an improving business
outlook for Mint Leasing that we expect to continue into 2010," stated Jerry
Parish, Chief Executive Officer of the Company. "The San Antonio auto rental
agency selected Mint Leasing based upon the Company's ability to provide
competitive prices and tailor leasing terms to the customer's specific
requirements."
"Our ability to close on the purchase and lease of several dozen vehicles on a
timely basis further illustrates Mint Leasing's ability to adapt to the dramatic
changes that have impacted the vehicle leasing industry during the past 18
months," continued Mr. Parish. "We believe the completion of this latest
transaction in December should allow Mint Leasing to generate net income
approaching $1 million in the fourth quarter of 2009."
About The Mint Leasing, Inc.
The Mint Leasing, Inc. represents an alternative to traditional financing
companies by providing its innovative vehicle leasing solutions to the customers
of premier automotive retailers. Most of its customers are located in Texas and
six other states in the southeastern U.S. The Mint Leasing's customers are
primarily comprised of brand-name automobile dealers that seek to provide leasing
options to their customers. The Mint Leasing, Inc. is responsible for
underwriting criteria and procedures, administration of the leases, and
collection of payments from lessees.
The Company is headquartered in Houston, Texas, and its common stock trades on
the OTC Bulletin Board under the symbol "MLES".
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when
used in the preceding discussion, the words "believes," "should," "expects,"
"intends," "plans," "anticipates," or "may," and similar conditional expressions
are intended to identify forward-looking statements within the meaning of the
Act, and are subject to the safe harbor created by the Act. Any statements made
in this news release other than those of historical fact, about an action, event
or development, are forward-looking statements. Forward-looking statements are
based upon assumptions that in the future may prove not to have been accurate and
are subject to significant risks and uncertainties. Although the Company believes
that the expectations reflected in the forward-looking statements are reasonable,
it can give no assurance that such expectations or any of its forward-looking
statements will prove to be correct. Factors that could cause results to differ
include but are not limited to, successful performance of internal plans, product
or services development and acceptance, the impact of competitive services and
pricing, or general economic risks and uncertainties, and other risks disclosed
in the Company's periodic filings with the U.S. Securities and Exchange
Commission. The Company takes no obligation to update or correct forward-looking
statements, and also takes no obligation to update or correct information
prepared by third parties that are not paid for by the Company.
Contact:RJ Falkner & Company, Inc., Investor Relations Counsel at
(800) 377-9893 or via email at info@rjfalkner.com
or
The Mint Leasing, Inc. Investor Relations at investorinfo@mintleasing.com
SOURCE The Mint Leasing, Inc.
Copyright (C) 2009 PR Newswire. All rights reserved
I purchased a starter position in MLES and agree it is an interesting speculative play.
One other thing I like about MLES that you didn't mention is that the new CFO has a very impressive resume including tenure at a NYSE company. That is something that you almost never see on the OTCBB.
http://finance.yahoo.com/news/Warren-Williams-Joins-Mint-prnews-45924100.html?x=0&.v=1
CEO owns almost the entire company leaving a float of less than 3 million with no dilution.
I've been nibbling here and there from .12 and under on the bid. This is a HIGHLY SPECULATIVE play, but it will be a mega bagger if they can return to their old and RECENT profitability, even a fraction of it.
This company USED to make money hand over fist until the credit market dried up. They recently got a large credit facility again and now forecast profitability. Hmmmmm....
The Mint Leasing, Inc. Enters Into Purchase and Lease Transactions Involving
Sixty-One New Toyota Corollas
--TRANSACTION SUPPORTS MANAGEMENT'S EXPECTATION OF RETURN TO PROFITABILITY IN
FOURTH QUARTER OF 2009
HOUSTON, Dec 02, 2009 /PRNewswire-FirstCall via COMTEX/ -- The Mint Leasing, Inc.
(MLES) ("Mint Leasing" or "the Company"), which provides innovative leasing
services to customers of franchised automobile dealers throughout the United
States, today announced that it has purchased sixty-one 2010 Corollas from Fred
Haas Toyota Country, Inc., a leading Houston Toyota dealer, and leased these
vehicles to three corporate customers.
Utilizing its new and previously announced $10 million credit facility, Mint
Leasing has concluded the purchase of new Toyota Corollas valued at more than
$1.0 million and, simultaneously, has leased the vehicles to Premier CARSTARS,
U-Save Auto Rental, and Kenneth's Body Shop.
"We believe these transactions are representative of an improved business outlook
for Mint Leasing that reflects the business opportunities available to the
Company as a result of its new credit facility and the attractive purchase
opportunities presented by the current economic and auto retailing environment,"
stated Jerry Parish, Chief Executive Officer of The Mint Leasing, Inc. "These
Houston-based auto rental agencies selected Mint Leasing after carefully
evaluating our business proposition and customer service capabilities, relative
to the proposals available from our competitors. We are pleased to welcome these
agencies to our growing family of customers."
"These transactions should assure Mint Leasing of a return to profitability in
the fourth quarter of 2009, and we look forward to similar opportunities in the
upcoming year," continued Parish. "Our ability to fund over a million dollars in
new car purchases speaks highly of the Company's ability to play an increasingly
important role in a tough market environment."
About The Mint Leasing, Inc.
The Mint Leasing, Inc. represents an alternative to traditional financing
companies by providing its innovative vehicle leasing solutions to the customers
of premier automotive retailers. Most of its customers are located in Texas and
six other states in the southeastern U.S. The Mint Leasing's customers are
primarily comprised of brand-name automobile dealers that seek to provide leasing
options to their customers. The Mint Leasing, Inc. is responsible for
underwriting criteria and procedures, administration of the leases, and
collection of payments from lessees.
The Company is headquartered in Houston, Texas, and its common stock trades on
the OTC Bulletin Board under the symbol "MLES".
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when
used in the preceding discussion, the words "believes," "expects," "intends,"
"plans," "anticipates," or "may," and similar conditional expressions are
intended to identify forward-looking statements within the meaning of the Act,
and are subject to the safe harbor created by the Act. Any statements made in
this news release other than those of historical fact, about an action, event or
development, are forward-looking statements. Forward-looking statements are based
upon assumptions that in the future may prove not to have been accurate and are
subject to significant risks and uncertainties. Although the Company believes
that the expectations reflected in the forward-looking statements are reasonable,
it can give no assurance that such expectations or any of its forward-looking
statements will prove to be correct. Factors that could cause results to differ
include but are not limited to, successful performance of internal plans, product
or services development and acceptance, the impact of competitive services and
pricing, or general economic risks and uncertainties, and other risks disclosed
in the Company's periodic filings with the U.S. Securities and Exchange
Commission. The Company takes no obligation to update or correct forward-looking
statements, and also takes no obligation to update or correct information
prepared by third parties that are not paid for by the Company.
Contact:RJ Falkner & Company, Inc., Investor Relations Counsel at (800)
377-9893
or via email at info@rjfalkner.com
or
The Mint Leasing, Inc. Investor Relations at investorinfo@mintleasing.com
SOURCE The Mint Leasing, Inc.
Copyright (C) 2009 PR Newswire. All rights reserved
The Mint Leasing, Inc. Announces First Quarter Operating Results
May 22, 2009 5:25:00 PM
Email Story Discuss on ZenoBank
View Additional ProfilesHOUSTON, May 22 /PRNewswire-FirstCall/ -- The Mint Leasing, Inc. (OTC Bulletin Board: MLES), which provides innovative leasing services to customers of franchised automobile dealers throughout the United States, today announced its operating results for the first quarter of 2009.
For the three months ended March 31, 2009, the Company reported revenues of approximately $6.2 million and a net loss of ($147,777), or ($0.00) per share. These results compared with revenues of approximately $13.9 million and a net loss of ($2,343,242), or ($0.03) per share, in the three months ended March 31, 2008. The Company's results for the first quarter of 2008 included a one-time charge of approximately $4.8 million related to the cumulative effect on prior years of changing the method of determination of allowance for doubtful accounts.
The decrease in revenues during the most recent quarter, when compared with the prior-year period, was principally due to the Company's inability to access additional financing to purchase vehicles and issue new leases. Additionally, the Company increased its inventory of used cars during the three months ended March 31, 2009, in anticipation of rising prices for used cars, which the Company has experienced during periods of prior recession and higher unemployment.
Gross profit as a percentage of revenues declined to approximately 23% in the first quarter of 2009, compared with approximately 30% in the year-earlier quarter. The decrease in gross profit was primarily attributable to the fact that during the three months ended March 31, 2009, a higher percentage of vehicle leases related to vehicles reacquired from prior lessees (which do not afford the Company as high a margin as leases of newly purchased vehicles), when compared with a greater percentage of new car leases in the first quarter of 2008.
"I believe the Company would have recorded substantially higher revenues and profitability during the first quarter if we had been able to access additional capital in order to expand our lease portfolio," stated Jerry Parish, Chief Executive Officer of The Mint Leasing, Inc. "The auto dealerships that we work with are faced with substantial and growing demand for vehicle lease financing that is not being satisfied by commercial banks or traditional leasing companies. Unfortunately, due to the 'frozen' state of certain segments of the financial markets, we have been unable to expand our bank lines or complete a securitization of our lease portfolio, which would allow us to meet the needs of our customers. The quality of new leases available to Mint has never been higher, because even car buyers with very high credit ratings are unable to lease vehicles from traditional sources due to the turmoil in financial markets. We shall continue our efforts to secure additional capital in order to expand our lease portfolio and take advantage of the tremendous growth opportunities available to the Company."
For more information regarding the Company's first quarter operating results, please see the Form 10-Q filed with the Securities and Exchange Commission on May 20, 2009 which is available on the Internet at www.sec.gov.
About The Mint Leasing, Inc.
The Mint Leasing, Inc. represents an alternative to traditional financing companies by providing its innovative vehicle leasing solutions to the customers of premier automotive retailers. Most of its customers are located in Texas and six other states in the southeastern U.S. The Mint Leasing's customers are primarily comprised of brand-name automobile dealers that seek to provide leasing options to their customers, many of whom would otherwise not have the opportunity to acquire a new- or late-model-year vehicle. The Mint Leasing, Inc. is responsible for underwriting criteria and procedures, administration of the leases, and collection of payments from lessees.
The Company is headquartered in Houston, Texas, and its common stock trades on the OTC Bulletin Board under the symbol "MLES".
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. Forward-looking statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include but are not limited to, successful performance of internal plans, product or services development and acceptance, the impact of competitive services and pricing, or general economic risks and uncertainties, and other risks disclosed in the Company's periodic filings with the U.S. Securities and Exchange Commission. The Company takes no obligation to update or correct forward-looking statements, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company.
Contact: R. Jerry Falkner, CFA, RJ Falkner & Company, Inc., Investor
Relations Counsel at (800) 377-9893 or via email at info@rjfalkner.com
or
The Mint Leasing, Inc. Investor Relations at investorinfo@mintleasing.com
The Mint Leasing, Inc.
Consolidated Balance Sheets
ASSETS ($000)
3/31/2009 12/31/2008
--------- ----------
Cash and equivalents $ 882 $ 881
Investment in sales-type leases, net 44,468 45,633
Vehicle inventory 1,339 855
Property and equipment, net 116 121
Other assets 440 79
----- -----
TOTAL ASSETS $ 47,245 $ 47,569
=========== ============
LIABILITIES AND SHAREHOLDERS' EQUITY ($000)
LIABILITIES:
Accounts payable and accrued
liabilities $ 338 $ 450
Credit facilities 33,000 33,000
Deferred income taxes 1,373 1,447
Notes payable to related parties 435 435
----- -----
TOTAL LIABILITIES 35,146 35,333
------ ------
STOCKHOLDERS' EQUITY:
Preferred stock Series A - -
Preferred stock Series B 2 2
Common stock 82 82
Additional paid-in capital 9,227 9,218
Retained earnings 2,788 2,935
----- -----
TOTAL STOCKHOLDERS' EQUITY 12,099 12,237
------ ------
TOTAL LIABILITIES AND STOCKHOLDERS'
EQUITY $ 47,245 $ 47,569
=========== ============
The Mint Leasing, Inc.
Consolidated Statements of Income
For the Three Months Ended March 31 ($000)
2009 2008
---- ----
REVENUES
Sales-type leases, net $ 4,702 $ 12,864
Amortization of unearned income
related to Sales-type leases 1,541 1,043
----- -----
Total Revenues 6,243 13,906
------ ------
COST OF REVENUES 4,816 9,722
----- -----
GROSS PROFIT 1,427 4,185
GENERAL AND ADMINISTRATIVE EXPENSE 1,187 1,167
INCOME BEFORE OTHER INCOME (EXPENSE)
FROM CONTINUING OPERATIONS 240 3,018
OTHER INCOME (EXPENSE)
Interest expense (462) (573)
Other income - 24
----- -----
Total Other Income (Expense) (462) (549)
----- -----
Income (loss) before cumulative
effect of change in Accounting
principle and income tax provision (222) 2,469
Cumulative effect on prior years
of changing method of determination
of allowance for doubtful accounts - (4,812)
------ ------
LOSS BEFORE TAXES (222) (2,343)
Provision for (benefit from) Income Tax (74) -
----- -----
NET LOSS $ (148) $ (2,343)
========== ===========
Weighted average shares
outstanding (000)
Basic and fully-diluted 81,930 70,650
======= =======
Basic and Fully-Diluted Loss Per
Share $ (0.00) $ (0.03)
========== ===========
SOURCE The Mint Leasing, Inc.
----------------------------------------------
R. Jerry Falkner
CFA
Investor Relations Counsel of RJ Falkner & Company
Inc.
1-800-377-9893
info@rjfalkner.com
for The Mint Leasing
Inc.; or Investor Relations of The Mint Leasing
Inc.
investorinfo@mintleasing.com
This one is getting a lot of hype
on the Internet....just don't see
it coming.
Briboy
I am the new Moderator of this board. I will be updating the ibox several times a week with any/all info that I find. Thank you.
Three days of green in a row. WOW, things are looking up right now. This trend should continue through the week...IMO.
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This is the message board for Mint Leasing, Inc. Trading Symbol is: MLES
Website: http://www.mintleasing.com/
Contact Information:
The Mint Leasing Inc
323 North Loop West
Houston, TX 77008
Main Office: 866.311.MINT (6468) / 713.665.2000
Fax: 800.591.MINT
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