Matt has recently answered new questions on Baron Capital's Blog page. Matt's answers are in red.
Hello Matt,
I value you creating this blog and being as forthright as possible about Baron Capital and the stock by answering shareholders' questions directly. I have formulated several questions which I would appreciate your answers to.
1. Baron Capital's website is obviously still in a production phase. How soon do you expect the site to go live and become fully functioning?
I believe the web site will be functioning for what we need at this time within the next two weeks, of course we will always be working on the site to make improvements.
I don't think a company is ever done working on its website.
2. According to the September 28th PR, "The Company plans to purchase two separate firms, one for trading and clearing of securities and the other for retail investors. The retail firm will use an online platform to maintain low operating costs, while using the other firm to clear and handle trades. The Company has been doing extensive research to find suitable candidates that will fill these spots and should be placing a deposit on one in the coming weeks." Has there been any progress in the acquisition of a brokerage firm(s)?
Progress has been made you can view a response I made to another post regarding this matter as the answer was rather long.
Response to another poster:
This is a tough question to answer we would like to say this year, but there are so many factors that go into buying a firm, you need licensed personnel, you need regulatory approval, you need to find a firm that meets all your needs (almost impossible) so you look for one that meets a significant amount of them.
You also look to see the last time they amended their charter with FINRA, maybe they can go before a them and request the changes you want prior to purchasing the firm. Once the firm is purchased the new owners will not be able to make any changes for 12-24 months. So as you can see this is not as simple as finding a company entering into a purchase agreement and off you go.
3. I know several traders/investors that would love to open an account with Baron Capital. When do you expect the retail brokerage firm to become available for individuals to open an account and trade through?
I will have to refer you to the other post again as this is the same question phrased a different way.
4. There has been two attempts at registering Baron Capital Bank with the State of Florida (September 29th and October 6th). Both of the filings have been rejected. Do you know why the Bank filings were rejected, and do you plan on having the filings resubmitted for approval in the near future?
Yes, the State requires you to submit documentation for a full license to obtain a corporation with the word "Bank" we simply wanted to acquire the name as the bank will be the last part of the Company to become active. We will seek to purchase a small 1 or 2 branch Federally chartered bank this way we can cut down the time to obtain a new charter from the Government.
5. Considering your tone in the October 5th PR, it's obvious that, like shareholders, you're currently confused and disappointed with the current share price. The market ultimately dictates share price; however, without providing insider information, can you please provide an idea of what you feel the fair market value of each share currently should be?
Well considering the improvements we have made to the Company,s share structure, debt reduction and the new business model I believe we should be trading in the .003-.005 range.
Once we release the financials for the period ending September 30 and begin generating revenue during the fourth quarter I believe the value of the Company should be over $.01.
6. Do you plan on providing (perhaps on the blog) a written transcript, Q & A review, or general overview of the Conference Call for those shareholders who are unable to attend?
I think we will have the ability to record the call if so we will post a link to the audio file for people to listen to later on.
I'm grateful for your time spent reviewing my questions. I'd appreciate as many answers as you can provide at this time. If for any reason you can not answer one, or several, of my questions, perhaps you can address them at the end of the Conference Call on October 26th. Thanks in advance.
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