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OMGV FINRA DELETED SYMBOL
http://otce.finra.org/DLDeletions
OMGV SEC Suspension:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75547630
i'll try out for mod.
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looks pretty thin
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Clark County District Court – Nevada
SHAREHOLDER ADVOCATES, LLC VS. OMEGA VENTURES GROUP, INC.
Did you see that sell of 20,000 shares ,was that you
I only add when I have a little extra profit money in the day........little by little ....I am not super super sure just yet.......proceed with caution my friend....I will feel a lot better when I talk to Hickey......
Thanks , going to buy a little more this week
JOHN M HICKEY
did not return my calls as of yet......I called twice, I don't want to sweet him to much......I want to try to build a nice re pore with him.....know what I mean....I will call again tomorrow though....we need action.......
Roger Reynolds is out of town till friday............
IMO...we are safe here for a little bit...........
You and i know that could happen lol Did you get a chance to talk with anyone yet ?
I am shooting for the 10,000% group.........lol
This could be your next 1000% gainer .
As of my last conversation with Roger Ryenolds we have 120,000,000 outstanding
as of Feb 3, 2007
As of September 30, 2006, the Company had 72,103,686 shares of its $0.001 par value common stock outstanding.
Any news on your phone call ?
companies as i see here start at the btm.
possibilities always need a good product.
They are thin, but they hold water to say the least....
hi energyman, good afternoon.
you have two intetesting ideas.
Apex Resources Group, Inc.
http://www.ambraresources.com/
Investor Relations: Eric David & Sons (Steve Weiss, President of Eric David & Sons)<< I spoke with him tonight
He lives 50 minutes from me........He is calling me back in the morning
10 Schalks Crossing Road
Plainsboro, NJ 08536
Phone: (609) 529-3671
Website: ericdavid.com
Email: steveweiss@ericdavid.com
Authorized -------500 mil
Outstanding---- 120 mil <<<< from his lips
Apex Resources Group reports MacKenzie Valley Pipeline Clears Major Hurdle 1-25-2007
Officers:
John M. Hickey, President/CEO; John R. Rask, CFO
CIK: 0000742248
The own this also........................
Great find............nice
look at this ,
To our shareholders,
We are pleased to announce First Interstate BancSystem has achieved record earnings for the 18th consecutive year. The Company earned $75,609,000 in 2006, a 38% increase over the prior year’s earnings of $54,715,000. Diluted earnings per share were also a record $9.11, up $2.40 from 2005. Return on average common equity in 2006 was 20.38%, compared to 16.79% in 2005. Our efficiency ratio improved to 56.79%, down from 62.65% in 2005. Results for 2006 included a onetime, after-tax gain of $12,278,000 ($1.48 per diluted share) from the sale in December of First Interstate BancSystem’s 30% minority interest in iPay Technologies, LLC.
Annual Results
Net interest income of $187,463,000 increased $17,155,000 over 2005. Loans grew by $276,009,000 or 9%, while deposits grew $160,921,000, or 5%. The net interest margin of 4.47% was 1 basis point lower than 2005.
Total noninterest income for 2006 was $31,258,000 higher than 2005. Major components of the increase included gain on sale of assets and higher revenues from technology services, debit and credit cards, financial services and the origination and sale of real estate loans of $22,607,000, $2,541,000, $2,132,000, $1,076,000 and $992,000, respectively, as compared to 2005. Gain on sale of assets increased $19,802,000 as the result of the December 2006 sale of the Company’s investment in iPay. Gain on sale of assets also increased an additional $2,955,000 as compared to 2005 due to $3,677,000 of losses on the sale of securities recorded in 2005 compared to losses of $722,000 in 2006. These investment losses were incurred in conjunction with a restructuring of our investment portfolio.
Total noninterest expense was $164,142,000 in 2006 compared to $150,726,000 in 2005. The $13,416,000 increase in noninterest expense for 2006 reflected higher salaries and benefits expense of $8,859,000. The increase in salaries and benefits was due primarily to inflationary wage increases, higher incentive bonus and profit sharing accruals and stock option award expense. Stock option expense increased $863,000 due to implementation of a new accounting standard. This expense was not recognized under the prior accounting standards applicable to stock options. Also reflected in the noninterest expense increase, as compared to last year, was a $3,880,000 increase in impairment expense on mortgage servicing assets. Mortgage servicing impairment expense of $1,693,000 was recorded in 2006 compared to impairment expense reversals of $2,187,000 in 2005. Also, in 2005, we recorded $1,088,000 of expenses related to the closure of Wal-Mart branches compared to $23,000 in 2006.
Quarterly Results
Net interest income of $48,082,000 in fourth quarter 2006 was $2,596,000 more than fourth quarter 2005. This increase resulted from growth in average loans notwithstanding a decrease in net interest margin. Fourth quarter 2006 average loans grew $311,712,000, or 10%, over the same period last year. The net interest margin decreased 11 basis points from fourth quarter 2005 to 4.38% for fourth quarter 2006. Net interest margin has declined due to growth of higher cost deposits and securities sold under repurchase agreements. Fourth quarter 2006 average deposits grew $134,807,000, or 4%, due mainly to demand deposit growth, over the same period last year.
Noninterest income of $40,991,000 was $22,952,000, or 127%, higher than fourth quarter 2005. Major components of the increase were gain on sale of assets, technology services revenue, debit and credit card revenue, income from real estate loans held for sale, and financial services revenue increases of $19,751,000, $882,000, $625,000, $504,000 and $196,000, respectively. Gain on sale of assets increased as a result of the iPay transaction described above. Financial Highlights
Three Months ended December 31
(unaudited) 2006 2005 %Change
(in thousands except per share data)
OPERATING RESULTS
Net income $ 26,592 $ 14,602 82.1 %
Diluted earnings per share 3.18 1.77 79.7 %
Dividends per share 0.61 0.50 22.0 %
PERIOD END BALANCES
Assets 4,974,134 4,562,313 9.0 %
Loans 3,310,363 3,034,354 9.1 %
Investment securities 1,124,598 1,019,901 10.3 %
Deposits 3,708,511 3,547,590 4.5 %
Common stockholders’ equity 410,375 349,847 17.3 %
Common shares outstanding 8,145 8,099 0.6 %
QUARTERLY AVERAGES
Assets 4,889,790 4,555,990 7.3 %
Loans 3,310,509 2,998,797 10.4 %
Investment securities 1,077,418 943,169 14.2 %
Deposits 3,655,262 3,520,455 3.8 %
Common stockholders’ equity 394,942 346,881 13.9 %
Common shares outstanding 8,144 8,090 0.7 %
Noninterest expense of $45,931,000 was $6,386,000, or 16%, higher than the comparable quarter in 2005. Salary and benefits expense increased $3,058,000, or 15%, as compared to fourth quarter 2005, primarily due to inflationary wage increases, higher profit sharing accruals and increased group health insurance expense. Group health insurance expense increased $855,000 in fourth quarter 2006 as compared to 2005. The increase was primarily the result of higher levels of claim activity during 2006 prompting increased funding to the Company’s medical trust fund. In addition to the increases in salary and benefits, noninterest expense increased $2,317,000 due to a mortgage servicing impairment expense recorded in fourth quarter 2006 compared to a $890,000 impairment reversal for the fourth quarter of 2005.
On January 9, 2007, the Company paid a $.61 dividend per common share. At its January 25, 2007, meeting, the board of directors approved a special dividend of $.41 per common share payable to shareholders of record as of that date. This dividend was paid January 29, 2007.
First Interstate BancSystem achieved record earnings and performance far surpassing prior results, even without the increases attributed to the iPay gain. This strength shown by our core operations is a reflection of our talented team of employees, officers and directors. Thank you for all your contributions to the success of our Company!
Lyle R. Knight Terrill R. Moore
President Executive Vice President
Chief Executive Officer Chief Financial Officer
--------------------------------------------------------------------------------
Diluted EPS $ 3.18 $ 1.77 $ 9.11 $ 6.71
* Based on the latest independent appraised minority share valuation as of September 30, 2006, effective for transactions on or after November 14, 2006.
** Based on the independent appraised minority share valuation as of December 31, 2005.
Condensed Consolidated Balance Sheet
December 31
(unaudited) 2006 2005
(In thousands)
ASSETS
Cash and due from banks $ 187,555 $ 207,877
Federal funds sold 55,427 27,607
Interest bearing deposits 12,809 5,493
Investment securities 1,124,598 1,019,901
Loans 3,310,363 3,034,354
Less: allowance for loan losses 47,452 42,450
Net loans 3,262,911 2,991,904
Premises & equipment, net 120,280 120,438
Accrued interest receivable 30,913 26,104
Goodwill and core deposit intangibles 37,812 38,594
Mortgage servicing rights 22,644 22,116
Company owned life insurance 64,705 62,547
Other assets 54,480 39,732
Total Assets $ 4,974,134 $ 4,562,313
LIABILITIES AND STOCKHOLDERS’ EQUITY
Deposits $ 3,708,511 $ 3,547,590
Federal funds purchased 0 1,500
Securities sold under repurchase agreements 731,548 518,718
Accrued interest payable 18,872 13,185
Other liabilities 36,295 28,086
Other borrowed funds 5,694 7,495
Long — term debt 21,601 54,654
Subordinated debenture 41,238 41,238
Total Liabilities 4,563,759 4,212,466
Common stockholders’ equity 410,375 349,847
Total Liabilities and Stockholders’ Equity $ 4,974,134 $ 4,562,313
Selected Ratios
Three Months Ended Twelve Months Ended
December 31 December 31
(unaudited) 2006 2005 2006 2005
PERFORMANCE
Return on avg common equity 26.71 % 16.70 % 20.38 % 16.79 %
Return on avg common equity excl. market adj of securities 26.15 % 16.48 % 19.82 % 16.56 %
Return on avg assets 2.16 % 1.27 % 1.60 % 1.26 %
Net interest margin, FTE 4.38 % 4.49 % 4.47 % 4.48 %
Efficiency ratio 51.17 % 62.25 % 56.79 % 62.65 %
CREDIT QUALITY (Period End)
Provision for loan losses to average loans 0.24 % 0.20 %
Net charge offs to average loans 0.08 % 0.19 %
Allowance for loan losses to loans 1.43 % 1.40 %
Allowance for loan losses to non-accruing loans 321.52 % 247.84 %
CAPITAL ADEQUACY & LIQUIDITY
Leverage capital ratio 8.61 % 7.91 %
Avg loans to avg deposits 90.48 % 85.46 %
i have on my watch list , Thanks
Omega Ventures Group Inc. CONTACT: Roger Reynolds, Investor Relations of Omega Ventures Group Inc., 780-469-0199.
Sorry gave wrong number before, this on is correct.
We have very good things to come from this
ULTRA CLEAN SHELL..IMO
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