LETS TAKE A LOOK AT THIS,,
RCC HOLDINGS INC VS RCC HOLDINGS INC,,,YEP I THINK WE ARE RCC HOLDINGS INC,,,YEP
5.00 A SHARE,,,I FEEL IT,,RCCH CAN GO ON A LIFETIME BABY,,,THAT EARNE
GENERAL FORM FOR REGISTRATION OF SECURITIES
Pursuant to Section 12(b) or (g) of the Securites Exchange
Act of 1934
RCC HOLDINGS CORP
(Exact Name of Registrant as specified in its charter)
COLORADO 13-1026995
______________________________________________________
(State of Incorporation) (I.R.S. EIN)
2058 NORTH MILLS AVE, STE 341, CLAREMONT, CA 91711
(Address of principle offices)
(310) 823-0181
Registrant's Telephone Number, including area code
Securities to be registed pursuant ot Section 12 (b) of the Act:
Title of Name of each exchange
each class on which each class
to be so is to be registered
registered
______________________________________________________
COMMON STOCK NYSE
CLASS A PREFERRED STOCK NYSE
Securities to be registered pursuant to Section 12(g) of the Act:
COMMON STOCK, $5.50 PER SHARE, 5,000,000 SHARES
CLASS A PREFERRED STOCK, PAR VALUE OF $5.00 PER SHARE, 500,000 SHARES
Persons who respond to the collection of information contained in this form are not required to respond SEC 1396 (3-03) unless the form displays a valid OMB Control Number.
SIGNATURES
Pursuant to the requirements of Section 12 of the Securities Exchange Act of 1934, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized.
RCC HOLDINGS CORP
Date: OCTOBER 17, 2003 /s/ Jason Majeski
BY:__________________
Signature
Jason Majeski VP Adm.
ITEM 1. BUSINESS
RCC Holdings, Corp (hereafter referred to as "Company") was founded and organized under the laws of the State of Colorado on March 10, 2003. The company's founder is Mr. Gene Newton, born in Oxnard, California on May 14, 1946. Mr. Newton has an excess of thirty years of education, holding a Master's degree in Finance and a BA in Physical Education. Mr. Newton acquired International Reinsurance Company, Ltd. (hereafter referred to as "IRC"), a sole ownership business, originally licensed in the State of Wisconsin under the guidance of Mr. Todd Norvett, in which he was the founder and managing director during the mid-eighties till President. Upon the acquisition of IRC, Mr. Norvett resigned and was replaced by Mr. Holloway, who is presently the managing director of IRC. The acquisition of IRC was conducted as a transaction between Mr. Newton, Individually prior to the incorporation on March 10, 2003. Mr. Newton realized in the mid-eighties that the insurance companies that were the most profitable were the re-insurance companies. Mr. Norvett began IRC in February of 2000 and has become a significant niche in the reinsurance industry. After Mr. Newton's personal acquisition of IRC, he moved the company operation headquarters to Las Vegas, Nevada and maintains subsidiary offices in London, England and Dallas, Texas, in which it provides unique reinsurance solutions to clients throughout the world. IRC became a wholly owned subsidiary of the Company shortly after the founding of the Company in March of 2003. IRC's business includes the provisions of reinsurance and retrocession to underwriters of life, property, casualty, accident and health, in addition to, a world-class annuity business.
Mr. Holloway, under the direct supervision of Mr. Newton and the Board of Directors of the Company, has directed IRC towards reinsurance of companies such as Warren Buffet's Berkshire Hathaway, have centered their entire operation around their insurance and reinsurance business, even though they own numerous name brand companies. There are no conflicts of interest between the above named firms.
ITEM 2. COMPANY OVERVIEW
The Board of Directors of RCC Holdings, Corp. and Mr. Newton realized that those who were selling reinsurance policies were realizing the higher percentage profit margin.
Typically, a major insurance carrier will underwrite a policy for, let's say $10 million, but feels that it can only assume $5 million worth of risk. A reinsurance carrier such as, IRC, will then issue a policy covering the second 5 million dollars of the master policy. If a claim is made in the amount of $6 million, the issuing company will pay the first $5 million and IRC would be responsible for any balance.
As previously stated, IRC's core business is reinsurance. To understand IRC, therefore it is necessary to understand how to evaluate an insurance company. A key determination would be as follows: (1) the amount of float that the business generates; (2) its cost; and (3) most critical of all, the long-term outlook for both of these factors is instrumental in the profit structure on the long haul.
To begin with, the float are premiums that the company holds but do not own. Typically in the reinsurance operations, float arises because premiums are received before loses are paid, and in the majority of cases the interval extends over many years. However, the majority of premiums that are written by the company are typically one-year premiums. During this time, the reinsurer invests the "float". This pleasant activity, typically carries a down side: the premiums that an insurer takes in usually do not covers the loses on expenses that it would normally have to pay. That leaves it running an underwriting loss, which is the cost of the float. An insurance business has value, if it's cost of float is less than the market rates for money. The Company feels that is has obtained a "float" at a very low cost, indeed the Company's cost is currently less than zero, in fact, we are actually paid to hold other people's money. The difference between IRC's conduct of business is that there are several items that distinguish IRC from its competitors. They include:
IRC is a small reinsurance company and is not concerned with the quality of policies it writes, only the quantity. The company exercises great discipline in issuing policies, which carry a very low risk and provide a high standard of profitability.
Our insurance operations are to generate the maximum profitability and the lowest cost of float. We must underwrite with an unwavering discipline only after a very comprehensive due diligence, hold a high level of reserve in a conservative manner, avoid any aggregation of exposure that would allow supposedly, impossible, incident to threaten IRC's solvency.
Even though the opportunity stands to write hundreds of millions of policies each year, the Company will write $100 million in policies during this current fiscal year. We understand from past experience, research, and actuarial tables that 15%-25% of the company's premiums have been and are paid in claims. Company policies dictates that in the next few years of operation 50-60% of all premiums are set-aside as reserves.
In addition to the underwriting of reinsurance policies, the company also issues surety bonds to businesses here in the United States. The company is marketed and sold through direct and indirect channels and after introducing the quality of our under writings here in North America, we will expand to other continents although not necessary to produce greater under writings. The unique situation enables the end-user to save considerable money, no matter what class or type of reinsurance we offer, since we do not have a high cost of advertising, business operations, and other cost factors, which ultimately provides the end-user to save considerable money, whether the end-user is requesting other types of under writings, we still benefit by our highly experienced and trained underwriters, along with reinsuring major companies that have already expended high dollars in large staffs, and higher costs, in order to evaluate the typical policy.
Cheap reinsurance is a fool's bargain. When an insurer lays out money today in exchange for an insurer's promise to pay a decade or two later-it's dangerous, and possibly life-threatening-for the insurer to deal with any but the strongest primary underwriter, such as Occidental, Etna, State Farm, etc.
The company has no significant off balance sheet, concentrations of credit risk, such as, foreign exchange contracts, options contracts, or other foreign hedging arrangements.
ITEM 2. FINANCIAL
Preferred Stock-All preferred stock will carry a coupon rate of interest of 8% per annum. We intend to issue Class A Preferred Stock only and maintain all monies received in an investment account, which shall hold U.S. Treasury notes with maturity dates to act as a sinking fund or a redemption payment basis for the issuance of the above-mentioned stock.
ITEM 3. PROPERTIES
The company owns no real estate to service any loans for its current location, and is only subject to an annual renewable lease for offices, located in Las Vegas, Nevada.
ITEM 4. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT
Currently, no Director, Officer, Employee, Outsider, or any other entity holds any Common stock, Preferred Stock, long term debentures, or any other obligation to any person, partnerships, entities, investment groups, capital organizations, bank institutions of any degree or nature.
ITEM 5. DIRECTORS AND EXECUTIVE OFFICERS
GENE NEWTON (57)-As Chairman of the Board, Mr. Gene Newton is highly qualified and experienced, utilizing his MBA in Finance and also having a Physical Education sub-major. Mr. Newton was born in Oxnard, California, and has lived in California since May 14, 1946. His combination of education, business experience, and surrounding himself with experienced personnel has brought him to the position of Chairman of the Board and Chief Operating Officer.
His contribution of bringing to RCC Holdings, Corp. the subsidiary of IRC certainly displays his conservative direction, which indicates the potential of a high growth corporation. The above Director was appointed to serve his/her term to the next annual meeting of the stockholders and holds no proxy statements, nor has the Director been convicted of a misdemeanor or felony.
LUCINDA NEWTON (42)-As a member of the Board of Directors, Lucinda, Gene Newton's wife, adds to the potential of excellent direction due to the fact that Mrs. Newton carries an MBA in Education and is currently employed full-time by the Alta Loma School District, soon to be promoted to the position of being the school Principal. She also has been a long standing resident of the state of California. The above Director was appointed to serve his/her term to the next annual meeting of the stockholders and holds no proxy statements, nor has the Director been convicted of a misdemeanor or felony.
JASON MAJESKI (24)-With his education at Robert Morris University, Jason brings diversified youthful aggression towards business growth, having experience with a small start-up company after leaving college. He is able to express powerful economical thought, along with conservative training, which he is able to assist in carrying forth the process of directing a company similar to the rise of the early morning sun. His talents in computer electronics, professionalism, and work ethic will surely contribute to the overall profitability of the company. The above Director was appointed to serve his/her term to the next annual meeting of the stockholders and holds no proxy statements, nor has the Director been convicted of a misdemeanor or felony.
There are no short term or long-term incentive plans for any director or executive officer or any other compensation than the stated salary below.
ITEM 6. EXECUTIVE COMPENSATION
Gene Newton, C.E.O.-$100,000 annual salary
Lucinda Newton, Secretary-$40,000 annual salary
Jason Majeski, Vice President of Administration-$40,000 annual salary
ITEM 7. CERTAIN RELATIONSHIPS AND RELATED
TRANSACTIONS
There are no certain relationships or outside related transactions, either written or verbally, prior to the date of this filing.
ITEM 8. LEGAL PROCEEDINGS
There are no unknown or known legal proceedings involving any of the Directors or Officers appointed to the Corporation.
ITEM 9. MARKET PRICE OF AND DIVIDENDS ON THE
REGISTRANT'S COMMON EQUITY AND RELATED STOCKHOLDER
MATTERS
The Company was issued the trading symbol "RCCL" in which the stock was publicly traded "OTC, over-the-counter" with a market high of $17.00 and a market low of $1.00
ITEM 10. RECENT SALES OF UNREGISTERED SECURITITES
Under the provisions of Regulation 229.701, item 701, Standard and Poor's and the Pink Sheet have reported sales which were misrepresented as there is a RCC Holdings, Inc of Nevada, in which, a corporate take-over was attempted by a Director of said Nevada Corporation. Mr. Taggatz used the symbol (RCCL) (other OTC) in which he sold stock under the historical chart of RCC Holdings, Corp as of June 13, 2003. We have included as an Exhibit a photographic copy of a quotation sheet by pinksheets.com displaying a $17 sales price, as of May 30, 2003 and a $1 sales price as of March 25, 2003. There is no connection either by acquisition, merger, or stock trade represented under the books, records, Bylaws, and minutes of RCC Holdings, Inc., a Nevada Corporation or RCC Holdings, Corp., a Colorado Corporation. RCC Holdings, Corp of Colorado was registered with Standard and Poor's on or near it's date of incorporation. There have been no filings with the SEC, the State of Colorado, the State of Nevada, that reflect any co-mingling of these two identities.
AI
