BB's Stock Haven

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EQUR - primed

Here's a stock that had a recent run up and has since come back down and now is releasing some interesting PR's.. The most recent yesterday, and rumor has it more to come and 'bigger' from what I can gather...

Equus Resources Announces Launch of Commercial Lending Division
Monday May 16, 9:02 am ET


ATLANTA--(BUSINESS WIRE)--May 16, 2005--MacReport.net / Equus Resources, Inc. (OTC:EQUR - News; "Equus" or the "Company") announced today that it has launched and will aggressively market a commercial lending division. This division will offer asset-based financing for the acquisition and development of commercial real estate projects with lending requirements from $500,000 to $5,000,000. Acceptable properties will include apartments and other multi-family housing projects, shopping centers, office buildings, warehouse and light industrial projects, resort/vacation properties, restaurants, and hospitality properties (hotels/motels). Loan to equity values will range from 50% to 100%. The initial geographical market for this division will be the southeastern states in which the Company's residential mortgage business is currently concentrated, but the division will consider properties in all regions.
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The new head of the commercial lending division is Lee Pagnotta. Lee has 20 years' experience in commercial and residential mortgages. During most of these years, Lee operated on a national basis and originated many millions of dollars in asset-based (sometimes referred to as "hard money") loans on a wide range of commercial properties.

In making this announcement, Randy Harris, President of Equus, commented, "We believe there is great opportunity for Equus in the $500,000 to $5,000,000 segment of the commercial lending market, particularly in the high growth regions of the southeastern United States where our efforts will initially be concentrated. Having personally worked in the commercial lending market myself a couple of years ago, I know full well that proposals for this type of financing have to be reviewed and analyzed very carefully and it is critical to have a seasoned veteran at the helm to make sure this happens. This is why we are so fortunate to have a person like Lee Pagnotta, with his many years of experience in asset-based financing and his numerous industry contacts fostered over those years, to head up our division."

Regarding his new position with Equus, Lee commented, "I have been working with Equus and Team One management over the past two years, mainly on the residential side, getting to know them and their way of doing business. I was very impressed with what I saw and proposed that they let me set up and operate a formal commercial lending division for them. They agreed and I am now hitting the ground running and am ready, willing and able to build a solid commercial lending division for them. Although commercial loans are frequently more complex and difficult to close than residential mortgages, the significantly larger fees associated with commercial transactions as compared with residential ones make the extra effort well worthwhile. In fact, I fully expect this division to begin to turn a nice profit for Equus almost immediately, certainly within the next 30 to 60 days."

About Equus Resources

Equus Resources is a multi-faceted financial services company that offers consumer and commercial clients a broad range of mortgage and insurance products, mainly in the southeastern states. Equus plans to expand its business through internal growth and acquisition and to add new financial products and services as demand warrants. Equus is headquartered in Roswell, Georgia, a suburb of Atlanta. For more information, please visit us at www.equusresources.com and www.teamonemortgage.com or e-mail us at [e-mail].

Forward-Looking Statements:

Any statements made in this press release which are not historical facts contain certain "forward-looking statements," as such term is defined in the Private Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the Company to which this release pertains. The actual results of the specific items described in this release, and the Company's operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgment of management of the Company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties, including, without limitation, the Company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, the receipt of revenues, and other factors, many of which are beyond the control of the Company. The Company disclaims any obligation to update information contained in any forward-looking statement.


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Contact:
Equus Resources, Inc.
Steven A. Cunningham, CEO, or Randy L. Harris, President
770-442-2364
888-421-8326


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Source: Equus Resources, Inc.

Source: http://biz.yahoo.com/bw/050516/165652.html?.v=1