finance.yahoo.com
The chart at the bottom of this thread is no good.
This Baby is SMOKING! I first found it at $2.70 ish.
Put it into a Newsletter I write for on 9/10/03 @ $3.04
It traded Thursday 3/4/04 at $11.35
Wonder if it will hit mid $30s by Christmas 04.
I still see this as a long term, non-expiring call option on the new generational gold bull market, as well as the other PMs and currencies traded.
Yahoo states: 54% held by insiders
1 Institution holds 100 share block (FMR) as of 12/31/03
1 M/Fund holds 2395 shares (Vanguard Balanced) 6/30/03
Morning Star issued research report March 5, 2004
Insiders NOT churning this stock...still pretty low avg daily volume.
QTR REPORT RELEASE: blows away Y/Y comparisons.
<font color=slateblue>
International Assets Reports Record First Quarter Revenue and Income Before Income Taxes
Thursday February 12, 9:01 am ET
ALTAMONTE SPRINGS, Fla.--(BUSINESS WIRE)--Feb. 12, 2004--International Assets Holding Corporation (the "Company") (Nasdaq:IAAC - News) today announced first quarter net income of $772,000 ($0.14 per diluted share) for the three months ended December 31, 2003 ("Q1 2004"). This represents an increase of 267% over the net income of $210,000 for the three months ended December 31, 2002 ("Q1 2003"). Diluted earnings per share increased 56% to $.14 per share in Q1 2004 up from $.09 per share in Q1 2003.
Total revenue for Q1 2004 increased by 160% to a record of $5,305,000 versus $2,041,000 in Q1 2003. The growth in revenue was due to a substantial increase in the Company's international equity market-making activities and growing revenues from the Company's recently established activities in the areas of international debt capital markets (which began in January 2003) and commodity/foreign exchange trading (which began in July 2003). Total expenses increased by 138% over the same period ($4,029,000 in Q1 2004 vs. $1,693,000 in Q1 2003). This increase was directly attributable to the expansion of the Company's business and increased variable costs accompanying the increase in the Company's revenues. Income before income taxes for Q1 2004 increased by 267% to a record of $1,276,000 compared to $348,000 for Q1 2004.
The improved performance for Q1 2004 is a result of the expansion and diversification of the Company's wholesale trading activities and better market conditions.
Sean O'Connor, CEO stated, "We continue to see the benefits of the business strategy which we launched in the first quarter of the 2003 fiscal year. We believe we have established a solid platform for future growth and our excited about our future prospects."
March 4 Press Release (Date of new high in stock)
4-Mar-2004
Other Events and Financial Statements & Exhibits
Item 5. Other Events
International Assets Holding Corporation (Nasdaq: IAAC; the "Company") announced today that it has issued $8,525,000 in principal amount of its 7% convertible subordinated notes due 2014 (the "Notes"). The Notes issued by the Company represent the initial tranche of the Company's planned private placement of $12,000,000 of the Notes. The Notes will be convertible into shares of the Company's common stock at a conversion price of $5.75 per share, subject to shareholder approval of the conversion rights.
The proceeds from the issuance of the Notes will be used by the Company to support the expansion of the Company's international trading activities.
The Notes have not been registered under the United States Securities Act of 1933, as amended, or applicable state securities laws, and may not be offered or sold except in transactions which are either registered under the Securities Act and applicable state securities laws, or exempt from such registration requirements.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any security. </font> |
