March 08, 2000 05:15
TheSubway.com Announces Investment Opinion on Mortgage Bankers Holding Corp.
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WESTON, Fla.--(BUSINESS WIRE)--March 8, 2000--TheSubway.com Announces Investment Opinion on Mortgage Bankers Holding Corp. (OTCBB: MBHC), doing business as National Institute Companies of America with a short term target price of $3.00 per share.
Mortgage Bankers Holding Corp. (OTCBB: MBHC) is going to receive a $20 million dollar funding in the form of a secondary offering from Oxford Financial.
MBHC Management warrants that 100% of the proceeds will be used for mergers and acquisitions.
The company recently reduced their debt to the tune of 3.7 million dollars and is expected to be profitable later this year. From the last shareholders meeting, one investor's notes stated that the company from just signing 23 of 75 individuals, will receive $115,000 in commissions. The company also stated that these are consulting fees and would be mostly profit. On October 7th and 8th, the company will be giving the same presentation to 300 banks. The company is endorsed by the state banking associations in 7 states and is expected to get approval by two of the largest US states within 1 month.
MBHC is expected to do 200 seminars in 2000 and generate $15,000,000 in commissions. One shareholder from the meeting also stated that there is another division of MBHC which deals with software, and E-commerce. The company could possibly set up an E-loan type of business. This division is not included in the $15,000,000.
MBHC offers services and produces fee income for Community & Independent Banks on an equal, if not superior, performance basis to the largest banks in the nation. NICA has 14 years of proven success in selling financial products and offering estate and financial planning seminars to the banks and their customers.
CRG feels the stock is a great buy, currently trading around the $.40 range. CRG is also beginning an intense public relations campaign to alert new, experienced investors of this opportunity. With a 52 week high of .60, CRG feels that MBHC could break that and be trading at the $3.00+ range in the short term as these new seminars are given and their client base grows. |
