A Toronto-based company that has announced that it is going to amalgamate with an e-commerce company that specializes in the "2 Minute Mortgage".
Taken directly from the e-Net website.
Currently, e-Net operates two Internet-based, multi-lender mortgage networks in North America.
www.themortgage.com is North America's first and Canada's largest Internet-based mortgage origination network.
Some of Canada's largest financial institutions, including Bank of Montreal, CIBC and MCAP are funding mortgages at themortgage.com
The success of our Canadian multi-lender network and our dedication to being a leader in the electronic commerce and financial services industries has been instrumental in expanding e-Net's solutions in other geographies.
In January 1999, e-Net's Online Mortgage Explorer technology was selected by BCE Emergis to offer Internet-based mortgages MLS (Multi Lender Software) to the U.S. marketplace.
www.multilender.com enables American borrowers to shop and apply for a mortgage among U.S. based lenders, that sell mortgages to Freddie Mac.
AUT.A has 4,415,736 issued and outstanding and 4,197,549 is controlled by the insiders who don't seem to have ever sold a share - leaving a float of 218,187.
This stock went from 30 cents to an intraday high of $13.50 in just two days back in April on the news that it was proposing to amalgamate with an e-commerce company called e-Net.
Similar story for AUT.B
AUT.B has 1,192,598 I&O of which 1,108,775 are held by the controlling shareholders. Float of 83,823. Went from 40 cents to $13.70 in same two days (intraday).
Short position for AUT.A as of July 31 is 155,200 out of float of 218,187.
No short for AUT.B. |
