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I dont think we should expect big gains over night. how about one step at a time. this way more strong hands would join in. Also remember that as soon as we get thos " Q " off this stock it will fly. also another 8k or PR will be boost. but again it has a long way to go. so we go slow and strong
Nice consolidation ! this was expected. We go north from here.
I am holding all that I have ! Not giving to bashers :) good days ahead
Agree ! This will easily blast off to HOD with little volume
No one is selling. The volume has dried up. This is low float moves on air. Unlike other Q's this is solid news. All common shares are intact atleast will go as high as 0.1 in near future.
It is good to accumulate on a consolidation day.
Nice consolidation day ! HOLD your shares, This is way undervalued at this time.
any news update here. I am still holding a bag full. dont know what to do with that !
very well written ! lets lock this baby as a team here
We hear you loud and clear ! We understand the pro's and con's of investing in this stock. We understand the risks involved. We can loose all our money as you said ! understood. Now that you dont have any interest in this stock and you dont plan on buying this . Why dont you leave us all as we are. Come back in a week and have a laugh at us. ( or vice versa )
if you are not buying here and not interested in this stock ! then what are you doing here? trying to protect masses ? is that what you are paid to do at 1:40 in morning? are you so concerned ? huh
IMO
Thanks :)
whats the news? Any DD here? why are we expecting a surge?
how do you know about BM's just curious ! new here on ihub
how do you explain more than 4000 % gains in 2 days ( mostly from insiders ) there is something cooking !
0.022 wont be a bad entry if any one can get on
This thing will blast off in power hour. Mark my words here. Finish as HOD today and gap up and run on Monday, Profit takers are done. If you are thinking selling, think again ! my advice have patience and HOLD for the weekend :
atleast 0.05 today and gap up on monday with all the chit chat over the weekend !
0.03 is HISTORY now.
Sorry folks who waiting too long. Still not too late, we will see EOD @ 0.05 atleast ! its just warming up . float is almost locked
A wicked thought :
We see every day at the end of the day there is a million share buy. could it be PENA buying for next day ???
0.1 minimum :)
Hold and accumulate if possible
The float is locked ! dont sell ! ONLY BUY IF you can!!!
yes DO NOT sell your shares ! float is tight !!!! and it has no where to go but north
CEO UPDATE 7/22/2010
http://www.accutitleagency.biz/NotesfromtheCEO.html
7/22/10 afternoon update
An update on my lunch meeting with Vince, the CEO of Valcom. His secretary called about 11:00 and asked if Vince could call me at a later time and reschedule for next week. I will continue to work for this business, just the same as I work for all business.
7/22/10 update
Folks are asking me about what I plan for our capital raise and expansion and dilution:
First and foremost: I have not changed our SS at this time. Our TA is still ungagged.
There are effectively 3 sections of our business that I am focused on and each has specific needs and desires. I find myself trying to find balance and benefit for each.
The three sections are:
Ongoing Company Operations
Expansion
Shareholders
Each of these components are important to the success of our company and one cannot benefit at the expense of another. There has to be an advantage for each of these sections in order to justify the effort and expense of becoming a public company.
When I made the decision to take my private company public, I had to make sacrifices for the bigger picture. I recognized it would involve countless hours and significant expense, but felt that the short term setback would be beneficial for the long term return.
So far, the ongoing company operations and expansion have suffered due to this decision. I have personally spent into the 1000’s of hours preparing, authoring, accounting, conferencing, researching, etc. I have personally funded this offering through my lack of salary/compensation and the fact that I have put in 100’s of thousands of dollars. This is money and time that had we not gone public, we would have been able to use for our expansion. But I believe in a bigger picture and as a result, I have personally diluted my private company. We now have shareholders, such as yourself that are looking to come along for the ride. Most of you have been in this company for less than 2 months. I have been in this company since the inception, which is almost my entire professional career. This is what I do, this is pretty much what I have always done and what I will continue to do for many years to come.
Why would I do this? Why would I invest this amount of time, energy and money and end up with less than what I began with? Simple, I see the bigger picture and I know with the help of the capital that can come from being public, we can make our expansion and growth happen that much faster. Why would I open myself up for public scrutiny, much the same as running for a public office? I swore, I would never run for office despite being asked and being well respected in my community for over 20 years. Well the last couple of weeks, have been just like running for public office. 95% of the shareholders see the vision, while the other 5% bash the company and make personal attacks against me. I have been called many names such as POS and other unflattering names by this small group of unhappy people. I have been inundated with calls and emails and have done my very best to return all of them within a timely manner. All of which distracts me from the most important task at hand…running the business!
So far, the advantage has totally been on the shareholder side, in that they now have an opportunity to come along for a ride after the foundation has already been laid. This is to the benefit of the shareholders component and so far has been at the expense of the company. We are not a developmental or some pie in the sky company. We are a company with a good history, years of success and a plan, based on that experience to expand.
The benefit to the company has to come in the form of being able to raise capital for the improvement of our balance sheet, our expansion, our acquisitions and the ability to attract talent. All of these items will hopefully lead to top line growth and bottom line results, which will be to all three of the components benefit.
I have been asked to lower the A/S, to issue PR’s, hire an IR company, buy back stock, etc, etc, etc, the list goes on and on from the suggestions that I have received. All of these things cost money, energy, and time. And as I mentioned there has been no financial advantage for the company or myself…only expenses and a huge amount of time and energy.
Everyone wants to move up the boards. That costs time and money. Accounting fees, legal fees, and filing fees just to name a few. Where should this money come from? Should we sacrifice current operations that are just now starting to get back on track? Should we put off expansion and let the improving market run past us and leave us in the dust?
Everyone wants to see a better balance sheet, everyone wants to see expansion, and everyone wants to see both top and bottom line growth.
All of these items on the wish list can come from one place and one place only and that is raising capital. As one of our shareholders put it: “the only reason a company goes public is to have the ability to raise capital”.
Over the last four years, I have talked with countless money managers, investment bankers, wealthy private investors and all have the same goal, invest in a company and help it grow.
I am being approached on a regular basis by wealthy private investors, mutual fund managers, and other types of money managers who want to make a direct investment in our company, thereby allowing us to do all of the items listed above. Of course, they want equity in the company, which will be a point of dilution.
I have previously discussed, a responsible capital raise and by this I mean allowing capital to be raised for the aforementioned uses. Not to spend money foolishly, but to use the capital raised in a responsible manner that should yield itself to top line growth and bottom line results, which in turn should result in greater market cap, greater shareholder returns and value. I see this as ultimately beneficial for all three components listed above.
I hope this better explains how we intend to raise our capital for our expansion. I do not have specifics at this time, nor have I entered into any agreement. I am exploring the options and will continue to share with you as we continue down this road. So please don’t ask me for further explanation at this time…as there isn’t one.
Also, as mentioned above, I have not changed our SS at this time.
========================================
One of the questions that has come up pursuant to our balance sheet is in regards to two items of debt:
The first debt is with ORT, and the concern was that because it was on the balance sheet it was a short term debt and that it would have to be paid off this year. Just because it is on the balance sheet, does not mean it has to be paid off this year.
This credit facility had been interest only (2.25%) as of last year, but we started paying principal reduction with the July, 2010 payment. We are intent on retiring the debt and to that end , the note calls for a repayment equal to 1.5% of the outstanding principal balance on a monthly basis. This payment is coming from normal operating operations.
This credit facility has already been modified several times over the last couple of years to allow us to continue to recover without placing a heavy burden of repayment on us.
Keep in mind that last 12months we remitted approximately $430,000 in premiums to ORT. In our best year (2005), when we were over $5mil in revenue, we remitted approximately $1,761,466 in premiums to ORT. The premiums paid are paid directly to them, out of escrow and is a non-balance sheet item for us.
Since we started our relationship with ORT, we have closed an estimated $6,612,858,000 of real estate transactions.
In fact, here is a quote from one of their senior management regarding our company. (this was from a couple of years ago)
"Dustin: Per your request I am responding with some information regarding Accu Title’s standing with Old Republic and some pertinent data.
First let me state that Accu Title is in excellent standing with Old Republic National Title. Not only is AT one of the largest agents for ORT in the Southeast Region of the country, but your footprint in Florida with your various office locations is the largest of any of our Florida agents. I believe that your business model has allowed you to grow in a number of markets, taking advantage of experienced closers with a book of business where other agencies business models and plans do not allow them to be that nimble.
I have looked at your gross premiums to ORT since 2003 and compared it to claims that we have incurred. (Incurred includes reserves that we have set aside regardless of whether or not and dollars will be paid. This is a standard method of looking at claims). Since 2003 we have received $17.786 million in gross premiums and have incurred losses of 3.87%. As a comparison, ORT’s statewide incurred losses to gross premiums in 2006 was 6.6%, and 3.4% in 2005. Overall industry expectations are that average incurred losses to gross under 5% is acceptable. With only three months left in the year our percentage with AT is 2.65%.
Another trend in favor of AT is that the number of claims has remained level given your increase in premiums over the past few years. Opened claims were 13 in 2003 and have remained at 11 each year thereafter with only three open claims this year. A typical loss triangle would have predicted more as your volume and premiums increased.
I suspect that this is due to the experience level of your examination staff which is centralized along with policy production. I understand the same is true for your escrow auditing and reconciliations.
Again, we value our relationship with Accu Title and look forward to continued growth in the future.
So, as mentioned, they want to see our success in recovery and expansion.
The next large item that was questioned was our mortgage. This is interest only and it does balloon in 2014. This note, like all mortgages in today’s world, are renegotiable at the time of balloon. Management will need to make a decision at some point in the future whether to keep the note and property or to dispose of it. Given the downturn in the commercial real estate values, it may be in the best interest of the company to deed it back, provided that this could be done without recourse and then lease property for its corporate operations. This will all be based on value and how it affects our balance sheet and any tax consequences. This will not have an effect on our business regardless of the decision as the asset is close to the liability on the balance sheet, but the reality of the market value is substantially less than the debt, so like most of America, we are upside down and considering our options.
Also, yes, I have a lunch scheduled with Vince, the CEO of VALCOM. It is only a lunch. I hope to be able to sell our services to him and be able to conduct the closings and title insurance on his auction properties. Our success will depend on his existing relationship with his current title company and their level of performance. While an increase in business is always good and appreciated, it is certainly not a make or break type situation. While I will appreciate the newly found business, it is a drop in the bucket in our overall business.
I have meetings like this all the time and am always marketing our company. So please don't read anything more into this simple lunch/marketing meeting.
Make it a great day!
Our CEO is working hard :)
Welcome Toucan, CollegaGrade22 ( friends from TIT-)
LOL ...
did we have another paint job at the end today? how much i cant access trades section from work. and with the float almost locked down what does this mean? gap up and run in AM ?
I am thinking 0.5 not 0.1 :) QSGIQ knows how to fly for sure. IF any doubt check its flight from today. Hold on tight shareholders we are flying
every one set ask on their shares to no less than 0.5 so that MM does not use it !
I hope tomorrow we see big rally and close beyond 0.02
whats the share structure like? any one, I have heard its very low float
should be atleast 0.02 HOD ! IMO
I am in for long :)
Great to see it upticking finally. I am glad I filled some more at 55 today :)
The little dry powder that i had i have used it all. I hope we go up from this level ! lots at stake
I have never seen a moron consultant like this
TITL is GREEN today !
very well done ! this meeting in itself is bigger than any PR.
I think we should spread the word out on forums . We deserve to see green today !
There are too many good things about TITL to be ignored. This will bounce and bounce hard today IMO.
Good Luck everyone.
9 and going beyond ! bring in the bounce here ! folks