WTHL more from the 10QSB and the more I read, the more these guys remind me of the people running WAST.... IMO..smart.
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"HBI will continue its research and development relative to the
prevention of hair loss in conjunction with the University of Miami School of
Medicine. The Company and HBI are currently negotiating with multinational
industry leaders for the funding of clinical trials and ongoing research.
The Company expects that upon execution of an Option Agreement, a
leading pharmaceutical company will be responsible for funding 100% of
Hairbiotech's human clinical trials and ongoing research, as well as supplying
adequate bulk topical compound needed to complete the study. The term of the
study will commence within 30 days of the FDA's acceptance of the application.
Per the agreement, Hairbiotech is not required to pay for any of the research or
costs associated with the product. The pharmaceutical company will furnish
Hairbiotech with $1,200,000 in milestone payments. In exchange for the
pharmaceutical company's patronage, Hairbiotech will grant it an option to
acquire an exclusive worldwide license to the patent and all applications of the
study. The pharmaceutical company will utilize its resources to manufacture,
market and sell the product(s) and submit associated reports to Hairbiotech.
Upon commercialization, the pharmaceutical company is obligated to document
sales of the product(s) and submit royalty payments to Hairbiotech.
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ALG recently created two new divisions: the Wholesale Division and the
Internet Online Mortgage Division. These divisions will help establish the
company's national presence and substantially increase gross production over the
next 12 months.
Mortgage financing has traditionally been a lengthy ordeal, lasting
weeks or sometimes even months. ALG offers the convenience of applying for all
types of loans via the Internet. ALG has utilized the Internet as a referral
source for the past three years, and has maintained a $2 million monthly average
loan volume from its previous website. The company has spent much of the past 10
months developing a new website, Alternativelending.com, and a new business plan
for the Internet Online Mortgage Division.
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With the launch of its website, Alternativelending.com, ALG plans to
increase its market focus from nine states to nationwide, during the next 12
months. Alternativelending.com intends to become the place to shop online for a
home loan. ALG will continue its Internet marketing strategy direct to customers
and will compete directly with current online leaders E-loan and Mortgage.com to
provide a low cost mortgage option to all customers regardless of credit
history.
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"With the addition of ALG's Wholesale Division, the company will not
only be marketing its Internet Online Mortgages, but also its mortgage banking
services to other mortgage brokers. The Wholesale Division has allowed ALG to
make every loan more profitable, thus allowing improved customer service and
more competitive rates, costs and closing times.
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The C & M Oil Company Acquisition
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Whitehall recently executed a stock purchase agreement to purchase 100%
of the common stock of C & M Oil Company, Inc. ("CMO") and all its related
assets.
CMO has been a South Florida distributor of gasoline and oil related
products branded by CITGO. CMO operates under an agreement with CITGO supplying
several CITGO gasoline stations, as well as government and local and national
businesses with truck fleets in South Florida.
CMO has grown its sales from $6 million in 1990 to over $12 million in
1998 and $15 million in 1999. CMO's growth in its customer base has been steady,
especially if we account for a very steady price in gasoline and oil products
until the third quarter of 1999. The Company's marketing efforts have been in
expanding its service based revenues. These services consist of maintaining
truck fleets of governmental entities and local and national carriers
operational on a daily basis. This type of service provides CMO with a higher
profit margin than sales of gasoline to gas stations. CMO is the only
distributor providing this service in South Florida. |
