Paulson Capital (PLCC)

[rtraster]

personally think merger very positive. NASDAQ low floater could move quickly higher, I think we see $1.50 again easily

[rtraster]

MERGER: Paulson Capital and Variation Biotechnologies Merge
May 9, 2014 (GLOBE NEWSWIRE) -- Paulson Capital and privately owned Variation Biotechnologies announced today that they have signed a definitive merger agreement. Under the agreement, VBI will become the operating subsidiary of Paulson and VBI's pre-merger stockholders will acquire shares of Paulson Common Stock that will represent approximately 59% of the outstanding voting power of Paulson capital stock upon consummation of the transactions contemplated by the merger agreement, including a concurrent private placement of Paulson Common Stock with gross proceeds of at least $11,000,000 to certain institutional stockholders of VBI and an additional institutional investor that has been identified.

Upon completion of the merger, Paulson will be renamed VBI Vaccines, Inc. and, if NASDAQ approves VBI's initial listing application in connection with the merger, Paulson Common Stock will continue to trade on The NASDAQ Capital Market after the merger.

Upon the merger, Jeff Baxter, President and Chief Executive Officer of VBI, will be appointed as the President and Chief Executive Officer of Paulson (to be renamed VBI Vaccines, Inc.) and the company will be headquartered in Cambridge, Massachusetts, with research and development facilities in Ontario, Canada. "A merger with Paulson provides a strong financial foundation with enhanced access to capital to further VBI's mission of innovative vaccine formulation, development, and delivery of safe and effective prophylactic and therapeutic vaccines," Mr. Baxter said. "This transaction represents an excellent opportunity to progress our eVLP platform and lead CMV candidate into clinical development and to meet our long-term growth objectives through the acquisition of novel and innovative platforms and clinical assets."

Trent D. Davis, President of Paulson, said, "We are very pleased to announce that we have reached an agreement to merge with VBI. VBI has world class leadership and a scientific team with a proven track record developing products that address critical unmet medical needs."

Mr. Davis added, "After we sold our brokerage business in May 2012, and in view of the contemplated retirement of our founder and Chairman, Chester Paulson, which became effective at the end of last year, our Board has been exploring a variety of options including changes to our operating subsidiary's ownership structure and its investment banking operations. As part of this new strategy, our Board has decided to pursue a merger with VBI, which we believe will create more value for our stockholders over the long term than Paulson could otherwise achieve as an independent, stand-alone company. Upon consummation of the merger, we intend to form an irrevocable liquidating trust for the benefit of certain legacy shareholders who were holders of record of our stock on October 11, 2013, as previously announced in our public filings. The trust will hold the non-operating assets of our current operating subsidiary, Paulson Investment Company, Inc., which will be liquidated and distributed to the legacy shareholders over time."

The merger has been approved by the Boards of Directors of both companies and by the requisite majority of VBI's stockholders and is subject to certain conditions, including NASDAQ approval of an initial listing of the merged entity's Common Stock on NASDAQ on a post-merger basis, the execution of documentation whereby Paulson's ownership in Paulson Investment Company, Inc. ("PIC") will be diluted to 0.01%, FINRA approval of a change in the equity control of PIC resulting from the merger and the restructuring of the ownership of PIC, the closing of the $5.25 million investment in Paulson that has been held in escrow since July 2013, approval of the merger by Paulson's stockholders and other customary closing conditions.

Holland & Knight LLP is serving as counsel to Paulson in the transaction, and Richardson & Patel LLP is acting as counsel to VBI.

[Juschilln]

Interesting little sage here.

[willlbone]

Robot MM's in control.

[SaltyMutt]

Company Background



Paulson Capital Corp. is a holding company whose operating subsidiary, Paulson Investment Company, Inc., is a full service brokerage firm engaged in operations in four principal categories, including securities brokerage activities, for which it earns commission revenues, corporate finance revenues consisting principally of underwriting discounts and underwriter warrants, securities trading and investment income resulting from earnings on, and increases or decreases in the value of, its investment portfolio. In addition, Paulson Capital Properties, LLC, a 100% owned subsidiary, was established for the purpose of purchasing, improving and remarketing underappreciated real estate. Through December 31, 2011, it had not purchased any real estate. In April 2012, the Company sold the retail operations of its wholly owned subsidiary, Paulson Investment Company, Inc, to JHS Capital Advisors, LLC.


http://www.paulsoninvestment.com

[sdy]

JHS Capital Advisors Buys Paulson Investment Co.’s Retail Business
Paulson Investment Co. Has Approximately 75 Advisors Who Manage more than $1 Billion of Client Assets

TAMPA, Fla., Feb. 29, 2012 /PRNewswire/ – JHS Capital Advisors, a registered securities broker dealer and Registered Investment Advisor, is today announcing that it has reached an agreement in principle to purchase the retail operations of Paulson Investment Company, Inc. (Paulson), a wholly owned subsidiary of Portland, Ore.-based Paulson Capital Corp. (NASDAQ:PLCC). Terms were not disclosed. The transaction is subject to approval by FINRA.

Paulson Investment Co. has approximately 75 financial advisors who manage $1.1 billion of client assets, adding to JHS’s national network of nearly 100 advisors who currently manage in excess of $2 billion of client assets.

“With similar cultures and values, Paulson’s retail division is a natural fit for JHS and will assist both of us in advancing our business plans,” said Scott J. Bendert, JHS president and CEO. ”At JHS, we’ve experienced exceptional growth during the past year and this transaction further enhances our business development strategy. We’ve continued to invest in our infrastructure and operations at the same time that we’ve been adding advisor teams to our firm, so we’re looking forward to working with the Paulson advisors as the newest members of the JHS network.”

“JHS shares Paulson’s commitment to operating with the highest level of integrity and always putting clients first,” said Trent D. Davis, president and CEO of Paulson. “JHS is an excellent opportunity for our registered representatives because of its similar infrastructure that supports both employee and independent contractor representatives. In addition, our brokers and clients will benefit from JHS’s size, scope, extensive product platform, financial resources and industry-leading technologies.”

Under the terms of the agreement, the former Paulson advisors will become registered representatives of JHS and, through JHS, continue to use RBC Correspondent Services, a division of RBC Capital Markets, LLC, for custody of client assets and securities, trade execution and portfolio reporting, thereby minimizing the impact on clients.

Paulson will continue to operate independently as a broker/dealer focused on its core competencies in boutique investment banking activities. It will remain a wholly owned subsidiary of Paulson Capital Corp., which will continue to trade under the ticker symbol of “PLCC” on the Nasdaq Exchange.

About JHS Capital Advisors
JHS Capital Advisors is an asset management firm providing personalized client services for investors nationwide. Founded on a simple code of ethics based on integrity, transparency and full disclosure, JHS’s mission is to always put its clients’ needs and interests first, and to build a reputation for fostering multi-generational relationships. JHS has an open platform that offers a full suite of financial products and services, enabling greater choice and autonomy for its advisors. JHS clears its brokerage transactions through RBC Correspondent Services, a division of RBC Capital Markets LLC, member NYSE/FINRA/SIPC. Founded in 2009 by John H. Sykes, JHS Capital Advisors is headquartered in Tampa, Florida, and is a subsidiary of JHS Capital Holdings. For more information about JHS Capital Advisors: http://jhscapital.com

About Paulson Capital Corp
Paulson Capital Corporation is the parent company of Paulson Investment Company Inc. Headquartered in Portland, Ore., Paulson Investment Company Inc. is the Northwest’s largest independent brokerage firm and a national leader in public offerings of small and emerging growth companies with capital needs of $5 million to $45 million. Founded by Chester “Chet” Paulson in 1970, it has managed or underwritten 170 securities offerings and has generated more than $1.2 billion for client companies. For more information about Paulson Investment Company Inc.: http://www.paulsoninvestment.com/

[radar72]

Anyone still paying attention to this one? Looks interesting to me - and undervalued.

[QualityStocks]

PLCC is “One to Watch”

Anybody that says they know which way the financial markets are trending in the first quarter of 2008 is likely speculating on many differing factors. Far too many variables are acting on the markets for anybody to be certain of what the future may bring. With this in mind, it is all that many smaller companies can do to keep moving forward, but a great majority are moving forward and with a positive perspective. There are buys available and many are ready to capitalize.

Paulson Capital Corporation, a financial investment concern, works to bring people and companies together for mutual financial gain. The company is primarily involved with retail financial trading transactions and small capitalization companies seeking Initial public or secondary offerings. The company, however, has the investment knowledge and power to operate at all levels of finance.

In a rather stagnant market for initial public offerings, Paulson Capital Corp. has managed to stay somewhat active. During 2007, the company brought 2 IPOs’ one secondary offering to market. This might be said to be no small feat in today’s investment market. The company has instead relied on its retail small cap satellite offices to keep the company moving along at a modest pace. With regional offices throughout the Western United States, the company continues to offer trading services through its proprietary systems. At the beginning of 2008, the company appears to be in a good position to service small capitalization firms and its retail customers.

[timhyma]

nothing, I'm taking it off watch. GLTY

[lentinman]

I do still have a small amount, but pay zero attention to it.

If you come up with anything meaningful, let me know.

Len

[timhyma]

Len, you still hold this opinion? I read an article in Equities magazine on them, and found the story interesting. Just starting my dd on the company

[ada]

Nice report, nice rise today!

Paulson Capital Corp. Announces 2007 First Quarter Results


Company Reports Net Income of $0.45 Earnings per Share; Management to Host Teleconference Tomorrow Afternoon Beginning at 4:15 PM ET

PORTLAND, OR, May 14, 2007 (MARKET WIRE via COMTEX) -- Paulson Capital Corp. (PLCC), parent company to Paulson Investment Company, Inc., today announced its financial results for the three months ended March 31, 2007.

Financial Highlights for Three Months Ended March 31, 2007 Compared to Three Months Ended March 31, 2006:

-- Total revenues climbed to $9.7 million compared to total revenues of ($958,000).-- Sales commissions and salaries remained relatively unchanged at $4.0 million.-- Corporate finance revenues increased 1779% to $996,000 from $53,000.-- Investment income rose to $3.2 million compared to investment losses of $5.2 million.-- Trading income increased 3662% to $1.3 million from $36,000.-- Income before taxes was $4.5 million compared to a loss before taxes of $5.7 million.-- Net income totaled $2.8 million, or $0.45 earnings per basic and diluted share, compared to a net loss of $3.5 million, or $0.57 loss per basic and diluted share.

As of March 31, 2007, the Company had $12.4 million in cash and receivables and $37.3 million in total shareholders' equity. The value of the Company's trading securities, investment securities and underwriter warrants was $29.7 million. During the 2007 first quarter period, the Company repurchased a total of 37,500 shares of its common stock under the stock repurchase program approved by the Board in September 2001.

Chester L.F. Paulson, founder and Chairman of Paulson, stated, "Our strong first quarter results are primarily a reflection of the favorable market conditions that have helped to restore and enhance value in our proprietary investment and trading accounts. In addition, with the completion of our initial public offering for Converted Organics, we saw a sizable gain in our corporate finance revenues. Overall, we're very proud of our performance and hope that we can continue this success in coming quarters."

The Company will host a teleconference tomorrow afternoon, Tuesday, May 15, 2007, beginning at 4:15 PM Eastern Time and invites all interested parties to join management in a discussion regarding the Company's financials, corporate progress and other developments. The conference call can be accessed by dialing toll-free 1-800-867-0448. For those unable to participate at that time, a replay of the teleconference can be accessed domestically by dialing 1-800-405-2236 and enter the passcode 11090156#. The replay will be available for 30 days.

[Bobwins]

PLCC is a regional brokerage. They have several offices around the country with retail brokerage clients. They generate income from retail brokerage as well as underwriting microcap companies and bringing them public. The underwriting activities are necessary for PLCC to show profits. A third component of their income is the market performance of their warrant/stock portfolio. As underwriter, PLCC gets warrants/stock as part of their compensation. Some of the stock/warrants are restricted and PLCC typically has a fairly large portfolio of their own investments. The performance of these longer term investments is added or subtracted from the P&L each qtr. This adds volatility and can significantly impact PLCC results.

I used to own PLCC but found the volatility created too much uncertainty amongst investor. They could not forecast profits consistently due to the huge impact of both the underwriting fees and the portfolio performance on the stock. This kept the p/e very low. Also since it is a retail broker, PLCC maintains a high cash position that is partly their clients funds clearing. I sold out last year after several up and down qtrs with no appreciation in the stock. Bobwins

[lentinman]

See IBox for my opinion on this stock.

Len