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Hey thanks Crooner......and GLTU too........been fun watching from the wings for a change:)
Bit of coal this time....
http://www.firstlifefinancialcorporation.com/
GLTA
Little bit of fuel for the fire......
http://relmholdingsinc.com/
Still here, still holding.
GLTA
bsandy: hey there....looking good been watching and great to see all the new activity and boardmarks over 100 at last.......patience pays:)..
GLTA
Some earlier DD on HCPC's future plans to become a bank:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22980023
http://investorshub.advfn.com/boards/read_msg.asp?message_id=22479066
GLTA
Been looking for them to begin updating the site too...thought extract below from FIFG site was interesting:
Are the Bonds Listed?
The Company has applied for and is ready to list the Series 2005-1 Bonds on the Luxembourg Stock Exchange, with the right to be registered in the U.S.
How will the Bonds be rated?
The Senior Bonds have an AAA rating indication, and the Zero Bonds have an AAA rating indication on the initial investment amount.
GLTA
Yep, still here just very busy with other things at the moment. Am monitoring daily...just waiting like most for the real news....things will unfold in their timframe not ours, so just being pateient....
GLTA
I am no longer in this stock, but I did receive this email thread in my normal email account today....in case it is of interest to anyone out there....
GLTA
LARRY OLESEN <LOLESEN100@MCHSI.COM>
Don and other investors....
I have one million shares in one brokerage account, and 400,000 shares in another brokerage account for a total of 1,400,000 shares (One million four hundred thousand). I have wondered what become of all the valuable properties, of the oil rig in Alaska that was to be done, the Lauras group, the information source etc.... I am a retired business man and if I can help with this I would like to help. I have served on Boards of Directors and would like to get to the bottom of this company... It should have tremendous profits with the way that gold and platinum and all natural resources have skyrocketed...
Larry Olesen
----- Original Message -----
From: Don Johnson
To: Jeffrey Cohen ; Jeffy Waggy ; Jhon ; Jhon ; Jim Santucci ; Joe Bovee ; Joel Southern ; John Auto ; John Bingaman ; John Durkan ; John Wachter ; John Whitten ; Joseph Crolle ; Keving Keving Bradley ; Kint Word ; Kyle Fraser-Reid ; Larry Olesen ; Leo Anglo ; Lexi ; Malinda Sutcoiffe
Sent: Friday, November 23, 2007 8:04 AM
Subject: Fw: Investigation of Centurion Gold Holdings Inc
----- Forwarded Message ----
From: Don Johnson <don.johnson58@yahoo.com>
To: Mr. Robert Nicholas <robert.nicholas@wachoviasec.com>; Mr. Wakeman <wakemanew@hotmail.com>; Neil Hendry <neilh1uk@yahoo.com>; Paul Warren <aqschesun@earthlink.net>; Peter Cardozo <peter@cardozo.org>; Richard <beag@yahoo.com>; Richard Mauer <richmauer@netscape.net>; Rob Rammano <rromano37@earthlink.net>; Robert Italia <sritalia@earthlink.net>; Robert Robert Hunt <roberthunt@dock.net>; Ron Severson <ron7aaa@sol.com>; Ruben Shultes <R.schultes2002@yahoo.com>; Steinberger <js15@optonline.net>; Steve Johnson <steven5975@yahoo.com>; Steve Trowell <steve911@bellsouth.net>; Tom Zeiser <tznoko@fuse.net>; Tomy Brown <brown@csx.com>; W. van de Kerke <w.vandekerke@hetnet.nl>; Wil Wil Scheibe <wilscheibe@aol.com>; Will Rankine <wrankine@cox.net>; Willis Allen <wiljay@localnet.com>; Yiwu Zhang <ywzhang@yahoo.com>
Sent: Friday, November 23, 2007 3:27:35 PM
Subject: Fw: Investigation of Centurion Gold Holdings Inc
----- Forwarded Message ----
From: Don Johnson <don.johnson58@yahoo.com>
To: mario@gobc.ca
Cc: art@crosslink.net
Sent: Friday, November 23, 2007 3:18:38 PM
Subject: Investigation of Centurion Gold Holdings Inc
Good Day
I am emailing in connection with a company called Centurion Gold Holdings Inc, could you assist me with the following , I am looking for shareholders that have been taken to the cleaners on this share,or if you know any of the share holders could you please send them this message.I have information of what the Directors have been doing , what I would need from you is your amount of shares that you have and your share certificates no and your email address what we want to do is to put a letter forward to the NASDAQ from the share holders to investigate the transaction that have taken place and to cancel certain deals and to get the Directors to pay the monies back and have certain assets back to the company and remove the current Directors and replace them with a care taker till this is sorted out please assist us in this matter we to have been taken to the cleaners with these ( so called directors ) please do not forward this to any of the directors .Once we have your information we will give you a follow up this is in the intrest of all share holders and what we will give you is fact.
Thanking you for your support please assist us.
Don
Thanks for the update. I'd be pleased to see them just generate revs, if only to cover costs initially, before the 'bigger' business/ loan closing develops and the current credit issues sort themselves out. At least in that way we know that no more dilution is required and this is well and truly the bottom.
GLTA
Agreed and this will hopefully bring in revs in the shorter term to keep the company ticking along until the issues surrounding the BCLOC loans and the current credit problems are sorted out....
GLTA
Heritage Capital Credit Corporation Accepting Applications for Traditional Financing for Commercial Projects
Wednesday November 7, 12:23 pm ET
WILMINGTON, Del., Nov. 7 /PRNewswire-FirstCall/ -- Heritage Capital Credit Corporation (Pink Sheets: HCPC - News) announced that it has a funding source for traditional financing for commercial projects that range in size from $1,500,000 to $20,000,000.
ADVERTISEMENT
Applications must be received on or before November 13, 2007, in order to be considered for funding prior to December 31, 2007. Commercial property types include multifamily apartments, office buildings, hotels, retail, industrial and mixed use buildings.
Visit the website: http://www.independentcapitalcreditcorp.com, "Traditional Financing" and apply via email or fax your information (302-778-1048). No application fee is required.
The Company will continue to accept applications for its flagship product, the BCLOC, which is corporate financing that provides 100% funding for commercial projects ranging from $10 million to $70 million. The BCLOC will continue to remain in the forefront of the Company's loan products. To date, the Company has not delivered any projects for funding.
About Heritage Capital Credit Corporation
The Heritage business model, which is implemented through its subsidiary, Independent Capital Credit Corporation, is to prepare real property and commercial revenue producing assets for funding. For more information visit the website at: http://www.heritagecapitalcreditcorp.com.
Safe Harbor
Other loan type info updated on page as well (bold is my own emphasis):
http://independentcapitalcreditcorp.com/id1.html
BCLOC
The Company developed its proprietary program, the BCLOC, in 2002. The BCLOC plan is to provide corporate funding for commercial properties in excess of $5 million. The BCLOC is a U.S. Treasury Bond Linked Product, which offers up to 100% real estae financing along with cash equity growth throughout the life of the loan.
Traditional Commercial Funding
On November1, 2007, ICCC expanded its commercil loan products to include the offering of traditional commercial mortgage loans in excess of $1.5 million. These loans range from 70% -90% loan to value ratio, and a minimum debt service ratio of 1.25.
GLTA
New loan type coming out November 15th:
From ICCC website:
http://independentcapitalcreditcorp.com/id1.html
BSMAL
On November 15, 2007, ICCC will begin offering a small commercial mortgage loan product, the BSMAL, which will range from $500,000 to $1.5 million. These loans will range from 80% to 97% loan to value ratio, based on the borrower's FICO score and other personal qualifications.
They are rolling out their new loan types as promised in the pr:
http://heritagecapitalcreditcorp.com/Pressrelease_1018_SHMeeting.pdf
Creating other loan types for more conventional commercial loans is a good thing imo. It may enable a quicker method of generating revs while the more complex issues around the BCLOC loans are resolved.
GLTA
Filing is for period up to September 30th. Any event after that will be filed in the 4th quarter ending December 31st and published c.mid-January at the earliest.
We know share structure has increased by a response made to a question at the shareholders meeting. Delaying the filing of the financials may enable them to release some good news (loan closing?)before the filing when the share structure (as of September 30th) will be published formally by the company.
Here's hoping:)
GLTA
nhguy: hoping that too, that good news is released before the financials come out.......if news is significant, loan closing etc....then they can soften the release of the financials/ shares structure with news that the buyback has begun....but they do need to deliver revs soon as I've mentioned in the last post.......
GLTA
Thanks for the notes....good to hear that Rick called you back, communication from them is really important, especially at the moment, as you mentioned.
Seems they are 'on track' still but need to see them follow through now. As you mentioned they have made some big statements of late with what we can expect to happen this year. They need to deliver on some of that soon.
The fact that he mentioned that he wished they could let us know who the lenders are, suggests to me that their names could help give the company credibilty.
They need to deliver revs ....simple as that, from one of their loan products....if they can do that then it will be a turning point for them and for us....and we can see good upside from here imo That's the pr we are all waiting for here....
GLTA
Financials: See they have amended the website stating that 3rd quarter financials will be posted mid-November now. At least they are keeping us updated. News on new commercial loans is good, but what we need to see is revs from somewhere to turn things around.
GLTA
Just a note to say I am still here and holding. Will add when possible. The company is still developing and am prepared to give them the time they need to bring things together.Should be seeing the new products rolled out soon imo.
GLTA
weatherbill: Thanks, I enjoy trying to unravel all of this.....and thanks to everyone who contributes to this board. I think we'll have a lot more people here in the weeks/ months to come.....this is really only just beginning imo.
GLTA
We should be getting the financials any day now imo. They provide a lot of detail and yes, there could be clues in them with regard to who has received shares in return for financing the company through the last quarter.....
GLTA
Loan Pool:
Originally there were 26 clients who created the $740 million loan pool. 5 clients requested refunds of application fees ( see PR of July 30th 2007) leaving the 21 mentioned in PR of 19th October 2007. Of those, some will finish the application process, some will not. The loan pool amount to be funded must be less than $740 million now imo.
For arguments sake the loan pool could now be half of the figure stated above. i.e $370 million.
We know they have a conduit lender (funding source) now and we also know that they have an institutional investor who is prepared to purchase substantially in excess of $300 million in BCLOC notes. That being the case, if the clients come forward with their part of the deal we could be looking at:
$370 million x 5% = $18.5 million net profit for HCPC
That would equate to $6 million available for share buyback purposes.
I'd certainly accept that, or even less, and see it as a great starting point for the business, with more loans/ business to be generated in future.
Just close some loans please:)
GLTA
Conduit Lender/ Funding Source
I think the conduit lender has been working in the background for sometime.
1. Firstly, back in the PR of 20th June 2007, they stated changes to the BCLOC Program to include a BCLOC Promissory Note.
http://heritagecapitalcreditcorp.com/sitebuildercontent/sitebuilderfiles/hcccprovidesupdates.pdf
• Revised BCLOC Program
The BCLOC Program has been enhanced to include a “BCLOC Promissory Note,” which is securitized and guaranteed with a Default Contract to cover 100% of the principal and interest payments for the life of the BCLOC Promissory Note. There are plans to have several avenues to sell the BCLOC Promissory Notes for funding.
2. Then in the shareholders letter of 27th August they referred to a 'potential funding source' that had mentioned certain changes to the notes would allow them to offer substantially in excess of $300 million in notes.
http://heritagecapitalcreditcorp.com/Share_Letter_PR_82707.pdf
5. Q: Is the institutional investor, stated in the press release on February 27,
2007, still providing the $300 million in funding for the purchase of
the BCLOC Notes?
A: A potential funding source has advised us that the special purpose entity (SPE) that issues the BCLOC Securities has made changes in the structure to reflect the current credit market conditions and expects to offer direct pay “AAA” rated notes versus collateralized debt obligations or CDOs. Further, they have advised that the restructuring is expected to allow the funding source to offer BCLOC Securities at a substantial amount over the $300 million previously mentioned in the press release.
3. Then in the WallSt.net interview of September 20th 2007, they mentioned that they have a new funding source (i.e. no longer a 'potential' funding source):
"We have a new funding source and funding for loans appears to be imminent."
4. And finally in the last PR of 19th October 2007, they mention the proposed merger with the conduit lender (i.e. funding source).
http://biz.yahoo.com/prnews/071018/lath129.html?.v=44
"Heritage will develop an action plan to merge with its conduit lender that will provide the capital infrastructure for launching new business and funding remaining BCLOCs in the pipeline."
All this signifies that progress in the relationship has been made over the last few months, that changes have been made to the BCLOC Promissory Notes to make them more attractive to institutional investors and this third party (i.e. conduit lender) having carried out DD on HCPC and their business model is now prepared to enter into a merger agreement with them.
If that is the case, it provides the best third party DD/ validation of HCPC and their business model that anyone could ask for imo. We should be hearing more about this funding source, who they are, the size and type of the organistaion, and the proposed merger in due course imo. Until the deal/ merger is finalised I think that info will be kept under wraps imo.
The funding source/ conduit lender may have provided financial backing to HCPC (i.e. prior to the merger) in exchange for shares to keep things on track imo. If so, when they merge they will have a vested interest to see the company progress. We may find out more info on this when the 3rd Quarter financial statement is published shortly imo.
GLTA
From WallSt.net interview of September 20th 2007.
"We have a new funding source and funding for loans appears to be imminent."
This seems to support the view that the funding source ( which refers to the 'conduit lender' imo with whom they propose to merge as mentioned in the pr of 19th October 2007), is a fairly recent introduction business-wise to Heritage.
Without the conduit lender, they cannot fund the loans initially, as the funding source/ conduit lender provides the short term funds to cover the loans before they in turn sell the notes to the institutional investors. Previously they had, and still have, an institutional investor willing to purchase $300 million of BCLOC notes (and now seems able to purchase substantially more than this figure) but it seems the missing link was the funding source/ conduit lender imo.
The price of the delays while this has been resolved has been the dilution to raise capital for the company, that has in turn affected the pps.
If this funding source/ conduit lender is now in place and they are satisfied with their DD on the business model, then we may have the 'green light' to move forward and close some loans. This assumes the clients follow through with their applications now. As I said before, they may have been waiting until they received confirmation from Heritage that the funding source/ conduit lender was in place before doing this.
The company has stated several times that they expect loans to close and revs to be generated by year end. That is the timeframe I think most people here are expecting things to happen in imo.
The move to merge with this funding source/ conduit lender company could then take HCPC to another level imo.
GLTA
Further point from latest PR of 19th October 2007:
Extract:
"Regarding the initial 21 clients who came to Heritage in 2004 and 2005, they provided a business plan and signed contracts for funding. Heritage is still waiting for signed agreements to acquire commercial asset projects, as required in Jane's part. Although none of the clients have been funded, some of them plan to honor their contracts and finish the application process to receive funding. Others do not."
The highlighted part from the latest PR tells us that the required action is from the borrowers side ( i.e. clients) and not Heritage to get these loans closed imo. Clients need to complete the signed agreements and return them to Heritage.
To fund the loans requires 2 key steps then after HCPC has carried out DD:
1. Funding source/ conduit lender to finance the loans until:
2. Institutional Investors purchase the securities (BCLOC Notes)
1. Funding Source/ Conduit Lender
We know that Heritage has a new funding source/ conduit lender who's role is to provide the necessary finance for the loans until the notes can be sold to the institutional investor. HCPC also plan to merge with this conduit lender in due course. It appears that it took some time for the conduit lender to be satisfied by the process/ business model as was mentioned in the Shareholders Letter of August 27th 2007, response to Qu.1. Extract follows:
"Second, the BCLOC represents a paradigm shift from traditional commercial lending philosophy that requires time and effort to gain the trust, acclamation and comfort of investors involved with a funding source."
The 'funding source' being the conduit lender imo.
2. Institutional Investors
We know that Heritage has one institutional investor waiting to purchase in excess of $300 million in BCLOC notes/ securities and we know these notes have a AAA rating (see shareholders letter of 27th August 2007, response to Qus. 3 & 5 http://heritagecapitalcreditcorp.com/Share_Letter_PR_82707.pdf ).
Extracts:
"Our affiliate executed a contract in 2005 with a rating agency to process “AAA” rated securities issued by its special purpose entity. This contract is currently in effect."
and:
5. Q: Is the institutional investor, stated in the press release on February 27, 2007, still providing the $300 million in funding for the purchase of the BCLOC Notes?
A: A potential funding source ( Note: i.e. the conduit lender ) has advised us that the special purpose entity (SPE) that issues the BCLOC Securities has made changes in the structure to reflect the current credit market conditions and expects to offer direct pay “AAA” rated notes versus collateralized debt obligations or CDOs. Further, they have advised that the restructuring is expected to allow the funding source to offer BCLOC Securities at a substantial amount over the $300 million previously mentioned in the press release.
Summary
So with the funding source/ conduit lender seemingly now in place and an institutional investor willing to purchase substantially in excess of $300 million in notes, it would appear that the funding side is now in place. The onus, it seems, is now on the clients to complete the application process and return the signed agreements to HCPC.
It maybe that they have not done this until they were assured that Heritage had the funding source/ conduit lender and institutional investors in place. I think this has caused the delays to date, both in finding a suitable funding source/ conduit lender and then the time taken for them to carry out their own DD before they were satisfied. The talk now of the proposed merger with the conduit lender certainly seems to support the view that the Conduit Lender is now 'on board' so to speak imo.
That being the case, the clients may now be willing to complete the application process and return the signed agreements. All the remaining 21 clients will not now proceed with the application and the loan pool will be less than $740 million as a result imo. However, the sum could still be very significant in terms if getting HCPC's business off the ground and more deals will no doubt follow in time.
GLTA
From Latest PR:
Extract:
"Regarding the initial 21 clients who came to Heritage in 2004 and 2005, they provided a business plan and signed contracts for funding. Heritage is still waiting for signed agreements to acquire commercial asset projects, as required in Jane's part. Although none of the clients have been funded, some of them plan to honor their contracts and finish the application process to receive funding. Others do not."
Originally there were 26 clients who created the $740 million loan pool. 5 clients requested refunds of application fees ( see PR of July 30th 2007) leaving the 21 mentioned in PR of 19th October 2007. Of those, some will finish the application process, some will not. The loan pool amount to be funded must be less than $740 million now imo. Exactly how much we will find out in time. I've written to the company asking for more info on this point. They can always obtain new business, closing some loans and validating the business model is the important thing imo. We are still waiting for that.
Share structure is disappointing at present, but as gempicker said it depends who owns the shares in the difference between the float of 700-800 million and the OS of 2.3 million. Loan closure and buyback of shares would turn the structure around imo
Share value will increase here if they imo:
1. Close a loan / loans
2. Commence buyback of shares
3. Merge with Conduit Lender (RM into HCPC?) and expand business.
4. Develop new business with their new loan products.
Closing a loan(s) and obtaining revs for the first time is the key. Their improved communication of late is definitely a positive, but they need to give us earnings and show us their business model works imo.
Buyback of shares can then commence and in time the merger with Conduit Lender confirmed (we don't know as yet how big an organisation the CL is and what their other business interests are/ balance sheet looks like. This could be very significant imo). They could then expand the business with the increased capital available, introduce additional loan types etc.
But the bottom line is that they need to deliver loan closing and revs now to give us the confidence that the rest will follow imo.
GLTA
Record Attendance Projected at The Wealth Expo in New York City
Helping Investors Learn to Build Wealth, Exposition to Feature Informative Workshops, Celebrity Speakers, Exhibits and Corporate Presentations
Helping Investors Learn to Build Wealth
Irvine, Calif. (PRWEB) October 17, 2007 -- The Wealth Expo, Inc., a wholly-owned subsidiary of Financial Media Group, Inc. (OTCBB:FNGP), today announced that it is expecting a record turnout for “The Wealth Expo 2007” to be held Oct. 19-21 at the Jacob K. Javits Convention Center in New York, NY.
Themed “Helping Investors Learn to Build Wealth,” The New York City Wealth Expo 2007 will provide a forum for attendees to share ideas and participate in workshops to gain insight into a broad range of prevailing financial and investing topics related to franchising, real estate, oil and gas, Canadian Trusts, commodities, trading strategies, succession planning, direct re-investment programs and offshore banking, among others, from top industry experts.
Attendees will also have the opportunity to speak one-on-one with top executives from public and private companies, and hear from an impressive roster of nationally recognized financial experts and celebrities. Scheduled keynotes are:
Ron Insana - CNBC’s senior analyst and commentator. He also appears on Squawk Box once a month. Previously, Ron was the anchor of CNBC's Street Signs. He is a regular contributor to NBC’s Today Show, NBC Nightly News with Brian Williams, and other programs when market activity warrants. Ron began his career in 1984 as an FNN production assistant, rising to managing editor and chief of FNN's Los Angeles bureau at the time the two networks combined. While at FNN, he was nominated for a Golden ACE Award for his role in covering the 1987 stock market crash. ''Trend Watching: How to Avoid Wall Street's Next Fads, Manias and Bubbles,'' his third book, was published by Harpers Business in November, 2002. His first book, "Traders' Tales" (John Wiley), a compendium of anecdotes about Wall Street Life, was published in 1996. His second book, ''The Message of the Markets,'' was published by Harpers Business in October 2000. Ron was nominated for a News and Documentary Emmy Award as part of NBC’s coverage of 9/11, and in 1999, he was named one of the top 100 business news journalists of the century by TJFR Group.
Charles V. Payne - Founder, CEO and Chief Analyst of Wall Street Strategies, and author of ''Be Smart, Act Fast, Get Rich: Your Game Plan for Getting It Right in the Stock Market.'' He is a regular guest on the Fox News Channel on Cavuto on Business, and will be seen daily on the new Fox Business Network. His stock selections reap sizable profits for his subscribers. He is in demand as a guest on several well-respected finance-oriented radio and television programs and he is widely recognized in the media as a leader in the analyst community. Charles is also routinely sought after for his market opinions by several prestigious news organizations.
Jean Chatzky - award-winning journalist, best-selling author and motivational speaker, who has created a global platform that is making significant strides to help millions of men and women battle an epidemic with a devastating impact - debt. Jean is a contributing editor for Money, and columnist for The New York Daily News. She is the author of four books, including Pay It Down: From Debt to Wealth on $10 A Day, a New York Times and Business Week best seller. Her latest book, Make Money, Not Excuses is a Wall Street Journal and New York Times Bestseller. Jean has been recognized as an exceptional journalist. She received the Clarion Award for magazine columns from the Association of Woman in Communications, her radio show received a Gracie Award from the American Women in Radio and Television, she has been nominated twice for National Magazine Awards and was named one of the country’s best magazine columnists by the Chicago Tribune.
Other scheduled featured speakers include Jack Adamo, Rob Booker, Roger Conrad, Arch Crawford, Colleen DeBaise, John Dessauer, Keith Fitz-Gerald, Elliott Gue, Price Headley, Andrew Horowitz, Jack Hough, Ken Kam, Drew Klein, Dr. Stephen Leeb, Vivian Lewis, Vita Nelson, John Netto, Joseph Parnes, Boris Schlossberg, Jay Taylor, Steve Todd and Adrienne Toghraie.
Exhibitors scheduled to attend the Wealth Expo include Verizon Communications, Inc. (NYSE: VZ), Duke Energy Corp. (NYSE: DUK), BP, plc (NYSE: BP), Sanofi-Aventis SA (NYSE: SNY), Darden Restaurants, Inc. (NYSE: DRI), Provident Energy Trust (NYSE: PVX), AFA Music Group, Ltd. (Pink Sheets: AFAO), Big Apple Worldwide, Inc. (Pink Sheets: BPWI), Coda Octopus Group, Inc. (OTCBB: CDOC), Element 21 Golf Co. (OTCBB: EGLF), RBID.com, Inc. (Pink Sheets: RBID), Goldex Resources Corp. (TSX.V: GDX), Heritage Capital Credit Corp. (Pink Sheets: HCPC), InteleCom, Inc. (Pink Sheets: IECM), Natural Harmony Foods, Inc. (Pink Sheets: NHYF), Nayarit Gold, Inc. (TSX.V: NYG), NetSky Holdings, Inc. (Pink Sheets: NKYH), Nettel Holdings, Inc. (OTCBB: NTTL), NewMarket Technology, Inc. (OTCBB: NMKT), Nuclear Solutions, Inc. (OTCBB: NSOL), Paxton Energy, Inc. (OTCBB: PXTE), Signature Devices, Inc. (Pink Sheets: SDVI), Sunrise Energy Resources, Inc. (OTCBB: SEYR), Tearlach Resources Ltd. (TSX.V: TEA), iFinix Corp. (Pink Sheets: INXR), and Proctor & Gamble Co. (NYSE: PG), among others.
Sponsors for the event include MyWallSt.net, SmartMoney, Royal Dutch Shell plc (NYSE: RDS-A), Big Apple Consulting, First Trust Portfolios, Investors Energy, LLC., The Moscow Times, LUX Petroleum, Inc., Buffalo Gold Ltd. (TSX.V: BUF), Reeds, Inc. (OTCBB: REED), Coates International, Ltd. (OTCBB: COTE), The Mexico Equity and Income Fund (NYSE: MXE), and Matt Gillogly of ''How to Become a Millionaire in a Troubled Real Estate Market.''
EVENT DETAILS AT A GLANCE:
WHEN:
October 19-21, 2007
WHERE:
Jacob K. Javits Convention Center
655 West 34th Street
New York, NY 10001
WHAT:
The Wealth Expo will feature a wide array of seminars by leading financial experts. The goal of the three-day Wealth Expo is to provide attendees with winning strategies and tips to make them more astute investors. The event will also feature corporate presentations from both private and public companies.
The Wealth Expo exhibition hall will be open between 1 p.m. and 6:30 p.m. EDT on Friday, October 19th with a cocktail hour to follow, from 9 a.m. to 6:30 p.m. EDT on October 20th with a cocktail hour to follow, and from 9 a.m. to 4 p.m. EDT on Sunday October 21st.
Please visit http://www.wealthexpo.net to register. General admission to The Wealth Expo is free of charge.
For a more detailed event schedule, registration information or to schedule a one-on-one interview with a member of Financial Media Group’s executive management team, please contact Elite Media Group at 407-585-1080 or via email at fngp@efcg.net.
About The Wealth Expo, Inc.
The Wealth Expo, Inc. owns and operates the brand name and Web site of “The Wealth Expo,” a series of investor conferences held throughout the United States. The Wealth Expo is designed to provide investors worldwide with informative, educational seminars that offer information on a broad range of topics including investment strategies, public companies, franchising, real estate and trading. Wealth Expo seminars also features keynote speeches from well-known investment professionals, and exhibitions from leading organizations, and firms. The Wealth Expo, Inc. is a wholly-owned subsidiary of Financial Media Group, Inc. For more information, please visit http://www.wealthexpo.net
About Financial Media Group, Inc.
Financial Media Group, Inc. is a diversified media and advertising company that owns and operates http://www.wallst.net, a branded financial consumer gateway that provides in-depth, original, multimedia editorial content, up-to- the-minute business news, and comprehensive financial tools and data for investors. In addition to WallSt.net, Financial Media Group, Inc. owns and operates http://www.mywallst.net, the Web’s first multimedia social network for the global financial community. Financial Media Group, Inc. also owns “The Wealth Expo,” (http://www.thewealthexpo.com), a leading producer of educational investor expositions that are held across the United States. For more information, visit http://www.financialmediagroupinc.com.
Forward-Looking Statements:
This press release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These forward-looking statements include, among others, statements with respect to our objectives and strategies to achieve those objectives, as well as statements with respect to our beliefs, plans, expectations, anticipations, estimates or intentions. These forward-looking statements are based on our current expectations. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected or contained in the forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control. Therefore, future events and results may vary significantly from what we currently foresee. We are under no obligation (and we expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise.
FOR MORE INFORMATION, PLEASE CONTACT:
Elite Financial Communications Group, LLC
Daniel Conway, Chief Strategist
407-585-1080 or via email at fngp@efcg.net
###
http://www.prweb.com/releases/The_Wealth_Expo/Financial_Experts/prweb561503.htm
HCPC vs Mortgage Broker
From Wikipedia:
http://en.wikipedia.org/wiki/Mortgage_broker
"A mortgage broker acts as an intermediary who sources mortgage loans on behalf of individuals or businesses.
Traditionally, banks and other lending institutions have distributed their own products. However as markets for mortgages have become more competitive, the role of the mortgage broker has become more popular. Today in most developed mortgage markets (especially the U.S., UK, Australia, New Zealand, Spain and Canada) mortgage brokers are the largest distributors of mortgage products for lenders."
So brokers source the approprite product for the borrower from a range of products produced by other institutions.
Whereas, HCPC has developed it's own product the BCLOC commercial loan and is adding additional loan types to the range for both residential and commercial mortgages. Through it's subsidiary, Independent Capital Credit Corporation (ICCC), they actually use a broker network to market their own product.
http://independentcapitalcreditcorp.com/id1.html
Extract:
"Currently, Independent works with a small Broker Network to market the BCLOC loan product."
HCPC has spent 4 years developing the unique product.......that's where the potential lies imo.
When the merger with the conduit lender is complete they will also have the financial backing/ support in place to fund the loans prior to selling securities to institutional investors. With the financial backing in place they then aim to form a Bank as stated in the shareholders letter of 27th September 2007. Big differences imo.
GLTA
Great, please post any findings or companies...we can always do with comparisons here.
Agree, I think the credit difficulties will create innovative solutions.....and I think HCPC with their BCLOC commercial loan is one of them....I also think their new commercial and residential loans will also have unique elements to them, such as equity building features to safeguard borrowers as well as the institutional investors etc. They could create a big niche for themselves by creating demand for this new type of product in future imo.
And when they have what seems like the future financial backing of the conduit lender upon completion of the merger, they will have the support necessary to build the company and maximise that potential imo.
GLTA
Shareholders Letter: Been looking back at the Shareholders Letter of 27th August 2007, to understand some of the statements made with reference to the 'funding source'/ conduit lender and institutional investors.
First Point from Letter:
Extract:
"Through our business model, the Company does not operate as a funding source. However, we originate and prepare real property commercial promissory notes for pre-closing and deliver them to a funding source. Management believes it can deliver more than $740 million in projects for funding before year-end."
The 'Funding Source' referred to is the Conduit Lender with whom HCPC plan to merge in due course imo
Second Point from Letter:
Extract:
"Second, the BCLOC represents a paradigm shift from traditional commercial lending philosophy that requires time and effort to gain the trust, acclamation and comfort of investors involved with a funding source."
Again imo, the 'Funding Source' referred to is the Conduit Lender with whom HCPC plan to merge in due course. The Conduit Lender funds the loans until they can sell the notes to the institutional investor. As we are talking about hundreds of millions of dollars/ risk, I am not surprised that the Funding Source has required extensive DD before committing such funds.
Third Point from Letter:
Extract:
"Q: Is the institutional investor, stated in the press release on February 27,
2007, still providing the $300 million in funding for the purchase of
the BCLOC Notes?
A: A potential funding source has advised us that the special purpose entity (SPE) that issues the BCLOC Securities has made changes in the structure to reflect the current credit market conditions and expects to offer direct pay “AAA” rated notes versus collateralized debt obligations or CDOs. Further, they have advised that the restructuring is expected to allow the funding source to offer BCLOC Securities at a substantial amount over the $300 million previously mentioned in the press release."
Again, the 'Funding Source' is the Conduit Lender with whom HCPC plan to merge in due course imo. They sell the BCLOC Promissory notes/ securities (issued by the Special Purpose Entity (SPE) set up by HCPC) to the Instututional Investor. In this particular case, the institutional investor mentioned who was originally going to purchase $300 million worth of notes is now expected to purchase significantly more. The 'Funding Source' or Conduit Lender could either utilise the NASD member firm mentioned in HCPC's earlier PR of 27th June 2007, or it could also be a NASD Member firm. We will find out in time.
We know from the PR of 18th October 2007, that, "Heritage will develop an action plan to merge with its conduit lender that will provide the capital infrastructure for launching new business and funding remaining BCLOCs in the pipeline."
The remaining BCLOC loans in the pipeline would probably amount to several hundred million dollars as the total pool of loans to be funded is $740 million. In my opinion, this conduit lender must either have pretty deep pockets or access to substantial amounts of short term financing that allows them to fund these loans until they are able to sell the notes to institutional investors. It's exciting that there are plans being developed at present for them to reverse merge into HCPC in due course.
Final point. The PR of October 18th stated that, 'October 19, 20 and 21, our staff will participate in the Wealth Expo in New York in an effort to appeal to a broader span of institutional investors."
As we know HCPC have a Funding Source/ Conduit Lender with whom they plan to merge in future. I think the attendance at the Expo is to raise awareness of the company and what they offer, to attract more institutional investor money for the purchase of the BCLOC promissory notes from the Funding Source/ Conduit Lender in the future imo. Obviously as more loans are generated, the number of institutional investors required to purchase the BCLOC notes will increase dramatically imo.
In summary, HCPC originates the loans, securities/ notes are issued by the SPE, the conduit lender funds these loans until they can sells the notes to the institutional investor. Eventually HCPC and the conduit lender will merge. Exciting times lay ahead imo.
GLTA
Conduit Lender: More thoughts on merger candidate
On June 27th 2007, HCPC issued a pr stating that they had engaged a NASD member firm to raise debt and equity:
http://heritagecapitalcreditcorp.com/sitebuildercontent/sitebuilderfiles/hcpcengagesnasdfirm627.pdf
Looking into NASD member firms a bit more I came across the following:
"Most small investment banks and agents are not broker dealers and cannot legally facilitate the sale of securities. The private placement or sale of securities must be handled by a registered broker/dealer. If the sale is not conducted by a registered broker/dealer, the Securities and Exchange Commission may intervene."
(This is from the following website. Nothing to do with HCPC just useful for the info it contains: http://www.bristoldirect.com/adobe/Brochure_CRC.pdf )
We know from my earlier post that, " A conduit lender makes their profits based on the difference from what they can sell the bond for on Wall Street and the value of the sum of all of the loans in the pool."
So to sell the bond, or in this case Promissory Notes/ Securities, a NASD member firm must be used.
Based on this info, two possibilities exist imo:
1. The proposed merger partner/ conduit lender is also the NASD member firm mentioned in the PR.
2. The conduit lender with whom HCPC proposes to merge, utilises the services of the NASD member firm to sell the Promissory Notes to Institutional Investors.
There is no real way of knowing at this stage but interesting to know about the various players in all of this. In the pr it does state that,
"The initial capital raise will be an amount mutually agreed upon to assist the company with its capital needs through a debt and/or equity offering." This seems to suggest some kind of deeper business arrangement between HCPC and the NASD member firm imo, otherwise why would the decision need to be 'mutually agreed"?
Just thoughts at this stage...time will tell imo.
GLTA
Conduit Lenders: Bit more information.
http://www.all-about-commercial-mortgages.com/commercial-lenders.html
extract follows:
"In general, there are basically two types of commercial lenders in the market: those that hold the loan on their balance (portfolio lenders) and those that sell the loan into the secondary market (conduit lenders).The secondary market represents Wall Street funds, also known as Commercial Mortgage Backed Securities (CMBS). [Or in the case of HCPC, BCLOC loans funded through the sale of Promissory notes to institutional investors].
A portfolio lender makes their profits from the spread or margin above the interest rate index. A conduit lender makes their profits based on the difference from what they can sell the bond for on Wall Street and the value of the sum of all of the loans in the pool. That is the main reason why conduit lenders are able to price a commercial mortgage loan more aggressively than a portfolio lender."
The conduit lender (with whom HCPC have a business arrangement with at present), through going public by way of a reverse merger with HCPC, would provide this additional revenue stream/ potential to the company. When the three additional loan types (two commercial and one residential mortgage loan) are added to the range by HCPC, in addition to the BCLOC Commercial Loan, this should produce even more revenue potential for the newly merged companies.
GLTA
Certainly hope so:) Ms Johnson stated twice in the recent WallSt.net interview of 21st September that they had a new funding source and that funding of loans was 'imminent'. That being the case we could see a turnaround in the near future imo.
GLTA
Could be that is the case balamidas. Dimadaggs reported that Ms. Johnson said at the meeting that they had sufficient capital to get them to deal #1. That being the case the OS should not need to increase now as revenues will come soon....and they may want to buy back some shares in advance of a pr imo.
GLTA
It is a known fact here, and been stated many times, that they have not delivered loans yet for funding. That gives it the upside potential if they do and the risk if they don't. Everyone should do their own DD and assess that risk.
GLTA
Yesterday's PR: Some thoughts on PR and the proposed merger with Conduit Lender.
I think some very significant developments are on the cards for HCPC and all our futures, which I've expanded upon below.
Firstly, upcoming events to look forward to as mentioned in the PR, in addition to the closing of the first BCLOC loan, include three new loan types for both commercial and residential mortgages which will be introduced in the short to medium term. Most likely in 2008 imo.. This equates to additional potential revenue stream for the company in addition to the BCLOC Commercial Loans. This diversification can only be good for the company imo.
The key point which really excites me, however, is this one:
"Heritage will develop an action plan to merge with its conduit lender that will provide the capital infrastructure for launching new business and funding remaining BCLOCs in the pipeline".
Note that the statement clearly states that there is an existing business arrangement with this conduit lender. I've done some DD on the type of organisation the conduit lender could be in the following post:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=23622391
This conduit lender sounds to me then like they are already a big player in the financial world. They may even have their own listing on an exchange, but they could also be going public by reverse merging into HCPC. This second scenario is more likely imo.
This conduit lender, as stated above, will help provide the capital infrastructure for launching new business and funding the remaining BCLOC in the pipeline. This is really significant as we are talking about $100's millions of dollars in financing here imo. Imagine what such a private company going public by reverse merging into HCPC would do for the share price/ future potential of the company?
We are not then just looking at HCPC and their deals on the table at the moment, with their small operation out of Wilmington, but the potential for a much bigger corporation going public by becoming part of HCPC. This to me is really significant.
We would then have a totally different company on our hands. It looks like the potential of HCPC, their business model/ products etc. has been discovered by a much 'bigger fish' in the industry. The conduit lender company seeing that potential proposes a merger and goes public through a merger with HCPC. The conduit lender brings capital to the table to help HCPC expand and develop their business potential to another level from where they exist at present and help realsie the earning potential. It's a win win situation for both parties.
Talk then of becoming fully reporting, uplisting to a higher exchange beyond OTCQX, a much higher potential share-price valuation in the future and formation of a bank are indeed then a real prospect imo.
I would love to know who this merger partner is. Hopefully we find out soon enough.
GLTA
Based on $740 million loans closed, this would generate $35 million net profit for the company.
With the current 2.3 billion OS that would equate to $0.015 net EPS assuming no buyback and assuming that they do have sufficient capital now to get them to loan deal #1.
If they used the $12.25 million for a buyback (i.e.35% of the $35 million allocated for buyback is $12.25 million) they maybe able to buyback 1 billion shares over the next year at an average price of c.$0.012 which would then give an OS of 1.3 billion shares.
Now assuming then an OS of 1.3 billion, the remaining profit would be $20 million (this figure allows for $2.75 million for other company costs expenses). This would give $0.015 net EPS share again, but this time based on a smaller OS figure and a reduced profit after the buyback.
If they can buyback more with that $12.25 million, the better for us all:
A 1.5 billion buyback could give a net EPS of $0.025 (OS 800 million) if all $740 million in loans close
A 2 billion buyback could give a net EPS of $0.065 (OS 300 million) if all $740 million in loans close
Obviously if they don't close the full $740 million in loans, these figures would need to be adjusted accordingly.
All this is just playing with figures. The company needs to close loans and commence the buyback. The amount of loans closed and the number of shares bought back will affect shareprice potential. If they do start to close loans then there is considerable upside potential from where we are at the moment imo.
GLTA
Interesting that their son also stated that they still plan to uplist this year.....this would be to the OTCQX as they have stated previously. That would mean that they would have filed their audited financials and must have begun generating revenues by that point imo. They stated loan closings/ revs by year end so that would fit in with the timeframe.
Thanks for all your efforts Dimadaggs....
GLTA
Share Structure: Checked the Florida state site and noted the AS has been increased. Based on that info and Dimadaggs post we have the following structure at present. I've updated the i-Box accordingy:
AS: 4 billion (as of 5th October 2007)
OS: 2.3 billion (as of 18th October 2007: Stated by Company at shareholders meeting)
Float: 700-800 million (as of 18th October 2007: Stated by Company at shareholders meeting)
The keys to our success are the company closing loans, generatings revs for the first time in their history and carrying out the buyback of shares as planned imo.
A billion shares bought back at say $0.001 would cost HCPC $1 million. From the projected earnings of them closing just a few loans from their pool, they could buy back a lot of shares imo. This obviously depends on share price at time of purchase but this is just a picture of what could happen imo. They have stated that they will assign 35% of capital generated from future loan closings to buyback shares. If they close all $740 million loans in their current pool that would equate to $12.25 million for buyback purposes. Closing even 25-50% of that pool in the short-medium term would be significant imo
The key to all of this is can they close loans and generate revenues imo? To date they haven't and that has led to the dilution and fall in share price. Ms. Johnson stated at the shareholders meeting today that they have sufficient capital now to get to loan deal #1. If that is correct, then the share structure should remain as stated above for the time being and improve considerably in the future as the OS and float is reduced in size through the buyback.
If they can close loans and generate revs then they can get the share structure back in shape.........that is the risk/ reward scenario we all face at the moment....I think they will close loans imo.....time will tell....
GLTA
There was a news report in July this year concerning some clients who were complaining about the time taken to close the loans. This was addressed by the company pr of 30th July 2007. Posts on this board around that time have addressed and discussed this issue in some detail. Apparently, the company presented information on the current position with regard to loan closing to the news team, but this was not included in the report.
http://heritagecapitalcreditcorp.com/sitebuildercontent/sitebuilderfiles/hcpcpr_refund_73007-final3.....
It could be the older gentleman at the meeting was one of these clients and not necessarily a shareholder imo, although there is no way of verifying one way or another.
The company stated in there shareholders letter of 27th August 2007:
http://heritagecapitalcreditcorp.com/Share_Letter_PR_82707.pdf
1. Q: What is causing the current delay in funding the loans?
A: Heritage does not fund loans. However, in the origination of real property commercial promissory notes, there are a number of simultaneous challenges the company has faced in order to be in its current position. First, each request from a customer requires that their individual business plan be packaged into the BCLOC. The BCLOC is a new product with a new process. With this has come a learning curve resulting in significant challenges and the additional workload of assisting applicants who have submitted business plans that required more information gathering in addition to explaining the product and process. Second, the BCLOC represents a paradigm shift from traditional commercial lending philosophy that requires time and effort to gain the trust, acclamation and comfort of investors involved with a funding source. Lastly, the time necessary to assist applicants with submitting full applications caused the seasoning of business plans and the expiration of purchase contracts they were negotiating under their business plans.
HCPC is a relatively new company trying to get an innovative product onto the market. Delays have occured, but if they can overcome these obstacles then they will generate revs for the first time. IMO they are a 'startup' which will either succeed or fail........if they succeed then the upside from here will be huge imo.
GLTA
World Wealth Expo, New York City: Great:) Good to see Heritage getting out and about. Is anyone based in NY and going to attend? Again, any info, photos of the stand, information HCPC distribute etc. would be invaluable in assisting us to put more of the pieces together.
They have become much more pro-active in terms of their actions/ communications this last few months. It started with the shareholders letter, then the Interview on WallSt.net....next the shareholders meeting at the Hotel Du Pont, Wilmington tomorrow (18th) and then the World Wealth Expo at the weekend. This is a quantum change in terms of communication by the company from just a few months previous.
It's very positive and hopefully indicates that things are finally coming together at their end. Exciting times lie ahead for us imo:)
GLTA
That kind of update at the meeting would be great.....really wish I was going but looking forward to people posting their impressions/ thoughts/ findings on this board after the event.
GLTA
Good day all...hopefully many more like this one to come:)