USAB - USABancShares.com Message Board

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Non-Tech : USAB - USABancShares.com

USAB 75.00

0.0%

Dec 29 4:00 PM EST

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To: Guidothecat who wrote (1990)	9/14/1999 3:47:00 PM
From: usab_long	Read Replies (1) of 2419

<<< Here's some basic information from the sec filing - its bloody long and I don't have much time available to go through it in detail. SPO - 3 million shares - price to be decided - date to be decided (probably in the next 10/14 days or so. USAB to be listed on National market from thursday 16th september 1999. Money raised from SPO to be used for 1. Marketing the USABancShares.com website ($10m) 2. Development of the website ($4m) 3. Purchase of performing loan books. Co-brand agreements entered with Earthlink (2 years), Systemax(1 Year) Microworkz (1 year) Ultrasites (1 year) webcitizen (small regional ISP) The systemax deal lets USABancShares literature to be sent with the computer and also heavily marketed on the Systemax website. Earthlink deal makes USABancShares the exclusive provider of financial services to Earthlink customers and the default link on the finance portions of Earthlinks site. It goes on and on, but in general it is an extremely bullish filing and if the management can carry out the promises the shares at today's price will be seen as an extreme bargain. >>>>

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