This little piggy cried wee, all the way to the bank!
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Yes, like the pattern to RTGV, no worries really w/ .07 entry point. We should see .10s+ soon enough.
Apologies, I bought some RTGV @ .07 so it's now cursed to go red for a bit here...LOL.
Vid of CEO Rico* after reading predictions EXPU goes to $.03:
Testing.
EDIT: hey it works! (post youtube video = [yt} tag)
Can someone add "post embedded youtube videos" to Tips & Tricks?
Tried chart, tried url, neither seems to work. Pasting the embed link from youtube by itself almost worked, asks to download plug-in.
Funny...
PCBC - hand me a pukebag: got stopped out at .819 while in a meeting this AM (on a f'in .812 LOD?) At least I got 15% out of it, but prolly shoulda got back in @ mid .80s. I still might do that tomorrow if it repeats today's pattern again.
IOVE needs meds adjusted, looking very bipolar/schizo today.
ACTC news out
More due diligence to add here:
http://www.city-data.com/city/Bal-Harbour-Florida.html
Search for "Home Mortgage Disclosure Act Aggregated Statistics For Year 2007" near bottom of page. These are the newest/latest numbers available. That said,
Keeping in mind Bal Harbour is a small community with just over 3,000 residents...Statistics for home loan origination Market in Bal Harbour area: (loans originated x average value):
Conventionals: 164 x $577k
Refis: 68 x $478k
Home Improvs: 8 x $345k
Non-occupants: 105 x $561k
Total originations: 345
Total Dollars of home mortgage loan originations in Bal Harbour for 2007: $188,797,000.
Recall from last post about Aventura, the Total Dollars of loan originations in Aventura for 2007: $962,700,000.
That makes a grand total, 2007 originations from inside Expert's immediate service area, of $1,151,497,000.
Expert's goal: fulfill the lion's share of the area's mortgage originations.
My take on the local market for 2009/2010:
New home starts have no bearing, this area has been fully developed for many years. Prices of existing properties may be down, but demand is now at an all-time high since 2007, government incentives and attractive wholesaler prices are keeping the LOAN market Expert works in, moving forward.
Sizzle would be good, or better yet a stick of dynamite -
this thing has been growing moss on its back lately.
PCBC 50ma = @ $1.50 and shorty needs 8 days to cover? BSEGs
PCBC = short squeezer momentummmmm now +20%
PCBC picking up strength here
Some interesting due diligence to add here:
http://www.city-data.com/city/Aventura-Florida.html
Search for "Home Mortgage Disclosure Act Aggregated Statistics For Year 2007", near bottom of page. These are the newest/latest numbers available - too bad nothing more recent. That said,
Statistics for home loan origination MARKET in Expert's Aventura area: (loans originated x average value):
FHA: 6 x $212k (lack of FHA lender in the area back then? Not now!)
Conventionals: 1287 x $353,000
Refis: 647 x $322k
Home Improvs: 57 x $173k
Non-occupants: 778 x $373k
Total originations: 2,769
Total Dollars of home mortgage loan originations in 2007: $962,700,000.
Expert's first two locations are both within this compact, defined area, but the new Bal Harbour shop is not considered part of the Aventura area. Demographics there in Bal Harbour will show higher-priced properties than Aventura.
Expert does loans for properties outside of this area of course.
PCBC -> hope this momentum continues for next few days
*You have been person marked Buzzy.
PCBC -> near 24% shorted, squeeze could happen.
Rated #1 buy @ ricochettrader.com: "60% chance PCBC will yield a net composite return of 24.32% in 15 days".
http://ricochettrader.com/forecast.php?ticker=PCBC&cn=Pacific%20Capital%20Bancorp&date=2009-11-17&tb=1
PCBC -> looking to bounce yet?
"I think you're off a bit there bro. Can you refigure? "
LOL - that $ sign was a typo, I meant:
"...has traded for over 130 million in volume so far this year." That's still @ $6.5 million @ .05, fairly hefty turnover rate but I've seen worse!
I'll go back to my day job now. <g>
Hey that's cool luca, but what we're really looking for is the "discussion group" link on the EXPU page to start working:
http://finance.yahoo.com/q?s=EXPU.PK
I also complained to Yahoo weeks ago, got no result.
Hey Vant, re: your earlier post
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&SortBy=volume&Issue=expu&Month=10-1-2009
I just added up our YTD dollar volume in my head, it looks like this little $2 million micro-cap has traded for over $130 million in volume so far this year. That's quite a turnover rate!
Starting to think we have precious few buy-and-holds left in this stock, seems one of the best if not an over-riding reason for RR to get us up-listed to the OTC ASAP...I really hope he does not let this critical task slip by the wayside.
EXPU's spring is wound tight, no kiddin'.
IOVE looks ready here, picking up a few shares for shitzengiggels.
I slapped out some of those last .0139s and it took a while. This is oversold lately IMO. The money flow is weak right now, and RSI still on the weak side, but a good meaty PR in the next few days should bring the money back in and get this moving back up.
Shakezz what's hot today bro?????
1,344 Twit followers, @ 50% increase, matches up with the big accumulation trend showing up on the chart. Lots of new players at the table this month, and many more to come with the frozen-for-2009 OS announcement.
Chart is cocked and locked here Bigzy!
Yep, indicators all in the power zone today.
"...why there is no NC office and where the money went from shares sold to open that office..."
The Cliff Notes version.
1. There is no NC office because the company adjusted their expansion plan for changing market conditions. In plain English they decided to open their new offices where the prospects for the business were better. Deals do fall through you know.
2. The money raised went to open the new offices at the Aventura Mall and in Bal Harbour.
It's all right there in the published company PRs, but you probably knew all this already. So why all the constant rhetorical questioning splattered with scandalous innuendo?
If you doubt the word of the CEO, prove he is lying and the money raised went for something other than opening and staffing the two new stores. Put up or shut up, cite some actual references of your data. Or is scandalous innuendo all you have to offer?
We usually dip into red on good PR days here -- always a few goobers holding big hands who must sell into the news, for whatever reason.
So what about future dilution for Expert Group?
Not a problem, as long as used for expansion. When this company sells shares, the money is quickly converted into profit-generating shareholder equity, rather than expensed out on the CEO's lifestyle.
Look at our recent financial results for the recent duilution, and decide for yourself.
Based on interim financials, each $250k raised to open a new storefront should add $750k +/- to retained earnings ($187k x 4 = $748k). So each storefront earns $500k the first year open, $750k+ each year thereafter (Gods of Real Estate willing, but that's a different topic).
Next note that when we reach $.10/share (by year-end? sooner?), the next dilution-for-expansion will require only 2.5 million shares at $.10 each, instead of 5 million at $.05 each.
And the next opening after that, maybe 1 million sold at $.25 each?
You get the picture... as share price climbs, required dilution % for each new store diminishes.
End of 2010, and if all went according to plan, we'll have close to 400 originators in 6+ storefronts. At minimum, $4 million to $5 million in retained earnings per year (more or less, based only on real earnings of 1 store in Q3/09). Hard to say what the OS will be by then... but if 50 million shares, that would be upwards of $.06/share, maybe $.08/share in earnings.
Looked at another way, $187k x 4Q x 6 stores = $4,488,000.
Plus add shareholder equity for ownership of 6 stores.
GM, any updates on buys thru other than broker?
twit was followed by a LARGE smiley face....
I sent Mr. Rico a polite reminder today (at 9:36am) reminding him that he promised interim financials by end of last month, and also that his shareholders were beginning to lose faith as a result,
3 hours ago this was posted to Twitter:
Good Morning updates on financial statement we are just about done financial will be released shortly. about 3 hours ago from web.
Squeeky hinge...oil...yada yada yada.
For better or worse, get ready for some financial news.
HESG 400 mils, 1st half hour
Expert Financing approved FHA lender now in SEVEN markets, according to the HUD website:
BIRMINGHAM , AL
JACKSONVILLE , FL
MIAMI , FL
ORLANDO , FL
TAMPA , FL
ATLANTA , GA
JACKSON , MS
http://www.hud.gov/ll/code/getaafb.cfm?ins_name=EXPERT+FINANCING+&+INVESTMENTS+INC&mort_id=2839600001&ins_type=2
Robert Rico concluded: "Being able to offer low FICO Ginnie Mae backed loans means more loan closings for Expert. We project that we will do up to 20% more loan closings per month as a result."
MrB looking for bargains - see EXPU
1. Shares nicely discounted today and due for a bounce.
2. CEO announced he's done fundraising for the remainder of 2009.
3. Interim Q3 financials are due out next couple of days, they are rumored to be blockbuster record-setters for the Company.
GETA ouch.
10-4 MDT, so are you still planning to sell much of yours before 11/1 then? I have to think waiting a bit at this point might bring you a better number.
As far as the seller being RR, hard to say with any certainty. There are six members of the BoD, could be any one of them. Or could be one of the large holders here, putting up a buyer's front as they are attempting to exit.
I've been re-reading much of the fine print in EXPU's filings lately. Did you guys know Rico draws no salary from the company? But OTOH Shirley was scheduled to be paid $150k salary for 2009 (plus commissions). That's not an overtly extravagant amount for their family to be pulling out, except for the fact that the company lost @ $65k last year (an admittedly bad year to be in the housing/RE line of business!).
For now I'll take RR at his word that the stock would only be diluted for expansion purposes and is a bargain at $.07/share. Time will reveal all.