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PFCK Meeting Minutes from TCW
Yesterday we saw the beggining of a series of events that will be taking
place as PFCK strives to strengthen the bond between company and
shareholder. The first Internet shareholders meeting. Overall response
was rave reviews from those who attended, for Steve Peacock President of
PFCK. Below are the questions posed and answered.
Note: Please feel free to call PFCK.
Peacock Financial Corporation
248 E. Main Street
San Jacinto, California 92583
Tel (909) 487-8911
Fax (909) 487-8832
General E-Mail: peacockfin@aol.com
Visit PFCK website- peacockfinancial.com
Meeting minutes-
Steve: If Solutions Media performs as expected, we will have a substantial
capital base from which to work.
Shareholder: Wont't it take you quite some time to have that
materialized? The Solutions sale.
Steve: Not really, we expect to see some action on Solutions shortly
Shareholder: with the addition of Vir-Tek to our family what impact will
this have on earnings for year 2000 in our p/e which was estimated at .03
for the year?
Steve: Vit-Teck is a cash generator at no additional overhead to PFCK, We
expect a $500,000 revenue into Peacock next year.
Shareholder: Steve, seems like PFCK is being held back by MM Pams, what
can you do about it?
Steve: Shorts are a way of life, especially in the OTC. the flip side is,
if you believe in the Company, it is a buying opportunity. MY job is
simply to build a profitable company and they will lose big time in the
end.
Steve: We have received several calls directly and indirectly about
selling shares directly in large quantity at a discount. we have not sold.
Shareholder: when will the 76 homes be completed?
Steve: Currently building 33 homes, with 150 more lots in the pipe line.
New projects being looked at right now.
Shareholder: 33 homes in the Eastside Project area?
Steve: Infill lots in the valley, condos in Oceanside, land, etc.
Shareholder: Is this where your expected growth is centered, in
construction?
Steve: It acts as a base operation, cash flow and long term growth. Our
investments in emerging growth companies is where I see substantial upside
Shareholder: Are there other companies you're looking at, that would
overshadow Solutions? Bigger and or better?
Steve: no, and remember, I use these guys to look at internet opportunities
Shareholder: Steve, waht about NASDAQ?
Steve: As a BDC we are required to mark our investments to market at the
end of each year. with SDSDC and Solutions, this could mean doing so in
December. this would qualify us from an asset and net worth standpoint,
then only the trading price is an issue.
Shareholder: How did the business trip to New York last week go?
Steve: The trip to New York was by the Solution team for about ten days.
I have not spoken directly with wayne Irving yet but as recent as this
morning, they are confirming the IPO as soon as possible but not later
than 1st quarter.
Shareholder: Is a reverse split being considered to raise the share price
to get on NASDAQ?
Shareholder: How about getting to a dollar and having a reverse split to
qualify for NASDAQ?
Steve: Yes, but only after the other issues are over and it is determined
to be in the shareholder's best interest to do so.
Shareholder: Diamond Equity has stated to their shareholders interest in
buying DotCom Ventures is there any conversations between Peacock and
Diamond at this time?
Steve: I'm not aware of Diamond. DOTCOM is not for sale
Shareholder: Is Nasdaq listing being carefully considerated? if so, isn't
it possible for PFCK to rise above $5 w/o a R/S?
Steve: yes, without a reverse split.
Steve: IMO we don't need a reverse split.
Steve: There are no plans for one.
Shareholder: How come everyone wants to tell me what PAMS is going to do
except for who I want to hear from?
Steve: I can't tell you what Pams is going to do. Only what I am going to
do, which is beat them by building a successful company.
Shareholder: Do you have a plan for PFCK to one day be traded on the
NASDAQ and if so do you have a target date in which you would like to
achieve this goal?
Steve: Our goal is to become a NASDAQ company. It could happen, as I have
already stated, next year.
Shareholder: Steve, are there any major players looking to take a large
stake in the company?
Steve: We are growing our network almost daily. There are several players
that could finance our real estate operation and take an equity stake in
the company
Shareholder: I've heard a rumor that you are talking with another company
about possibly merging with PFCK and doubling your current size. Any truth
to this rumor?
Steve: We are in the very initial stage of looking at a deal that was
brought to us by a PFCK shareholder. It has cash and some investments...it
would be an acquisition not a merger...very preliminary
Shareholder: Steve, how interest rate sensitive is the REIT portion of the
company?
Steve: Interest rates are always a factor in real estate. We have been
involved in affordable housing for a long time and know how to access
subsidy financing during these times.
Shareholder: Steve, what are the biggest challenges that the company faces
in the next 12 months?
Steve: That is a good question because I am feeling good about where we
are right now. I think it is to make sure that the existing operations
come to fruition and seek out new opportunities that can do the same type
of performance as Solutions.
Shareholder: Are you currently advertising in any Major media?
Steve: There was an article today in the San Diego paper about Solutions
teaming up with a new strategic partner. They are in the news here almost
on a weekly basis.
Shareholder: Steve you are keeping our interest, keep up the good work.
You are showing great management abilities and will keep supporting the
effort and we in the south are going to have a biiiggg party when we get
to .50
Steve: There are events that are newsworthy in all our subsidiaries and
investments that will unfold through the balance of the year.
Shareholder: Steve How long before you can turn Solutions into cash?
Steve: Sol Med IPO is "as soon as possible, but no later than 1st quarter".
Shareholder: Will we get our shares before it goes public?
Steve: Your Sol Med dividend will be restricted for one year. No
underwriter would approve a deal knowing that zero cost shares would be
sold immediately into the IPO.
Only the (PFCK) trading price will be an issue.
Other than my fingers and trying to keep up, I am enjoying this, too.
Let's do it again K
Steve: PFCK issues its dividents prior to an IPO but only when we are
assured that the company is going public. Sol Med has already agreed to
the dividend and we are waiting for SEC council's statement that they are
ready. Remember I get Sol Med shares as an individual as well, so I am
definetly motivated.
Shareholder: How many years have you been in this business, Steve?
Steve: I am 54 and have been in business for 24 years as Pres. of Peacock.
The Sol Med shareholder of record date will be announced publicly and will
provide up to 20 days prior notice. Should do some good thing for the
stock
Shareholder: Steve, do you know exactly at what price Solutions will IPO?
Steve: word from Sol Med is between $10 to $20. Calculate the numbers if
the stock opens at $20 and runs to just $50
Steve: Although I can't be precise, we are working very diligently to
bring a stadium to San Diego for the soccer team. By the way the FLASH are
in the Western Division finals, with the first of a three game series
starting Saturday in Minnesota.
Shareholder: Do Flash shareholders get a discount on conssesions?
Steve: If you go to the game, say Hello to Yan Skwala, the Pres. and
visionary for SDSDC. He is a solid guy and working every day to achieve
his dream. I think we will get there.
Shareholder: Steve, as shareholders, what more can we do tho help you out?
Steve: Stay a believer and help us get the story out. It really is about
good people networking with other good people. Our deals come from people
who know us and know that we will perform and be fair. We have been
tested during difficult times and our colors didn't change...thanks for
asking.
Shareholder: Steve let's throw a big Peacock party in Las Vegas
Steve: That would be the place to do it. Let's just see what happens over
the balance of the year. Maybe big things!
Shareholder: A Great story unfolding it is.. I got off of work early to
view this!! Although I have a T1 line at work, I wanted to be a part of
history in the makes!! We are there for you Steve!!
Steve: Thank you all for your interest and good questions. I am always
available through the corporate email, but these sessions are both
informative and challenging. I look forward to our next
session...Respectfully yours, Steve
Shareholder: Steve, Does a diversity of resources that the company is
involved in help or hinder the bottom line? PFCK has such a variety of
interests, is it difficult to keep them all in line?
Steve: That was such a good question that I will stay to answer it
Steve: Real Estate is slow, capital intensive and in our case, regional.
We diversified because that was always my dream, and because it became
obvious that we needed to enhance our upside potential through
diversification. By filing to become a BDC, it allowed us to raise some
initial capital which went into SDSDC and Sol Med. these investments are
now about to materialize and bring huge profit to the bottom line. |
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