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KBK Capital Corporation, which provided commercial loans, mezzanine

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Enterprising Investor Member Level  Thursday, 06/06/19 09:18:50 AM
Re: Gideonmagnus post# 28
Post # of 58 
KBK Capital Corporation, which provided commercial loans, mezzanine loans, and factoring services to middle-market businesses, was sold.

However, KBK Capital must have been a structured as a subsidiary of U.S. Growth Funds when it was sold. The Capital Trust and its liabilities continue to live on. Shares of KBPCP have been acquired by a "subsidiary" at prices ranging from $1.00 and $3.00 per share, which would be, of course, at very deep discounts to liquidation value.

USGF has been investing in branded consumer product, those found in the food and beverage aisles in specialty retail, mainstream grocery channels, discount and club stores. It also acquires mature, orphan brands in the food sector, personal care and household sectors.

The company has bought and sold product lines through the years. There were issues with some of those sales. Management had to work hard to get some recoveries. A new investment was made near the end of 2016. These are structured as VIEs with USFG being a limited partner.

I have received USGF financials for both 2016 and 2017. Waiting for 2018 to arrive.

USFG had $8.7 million in assets at 12/31/17. Equity stood at $2.4 million or $7,030,73 per share. That is not a typo - there were only 347 common shares outstanding.

EI

"Someone said it takes 30 years to be an instant success" - Gabriel Barbier-Mueller, CEO of Harwood International
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