Profit Central - maui.net
We have just updated the Profit Central Web Site with this latest Gem.
This one is really hot folks. MBHC, Mortgage Bankers Holding Corporation,
Pittsburgh, (MBHC OTCBB) Doing business as National Institute Companies of
America (NICA). We are very excited about this new selection, it's always
like finding a pearl in an oyster. Subsidiaries include National
Institute for Estate Planning, Employee Benefits, Retirement Planning, and
Financial Services. This family of companies offers services and producing
fee income for Community and Independent Banks on an equal and superior
performance basis to the largest banks in the nation. They have structured
their business to assist banks and bank holding companies in planning
design and implementation of an insurance marketing program and financial
planning profit center within the bank. They have 14 years of proven
success in selling Financial Products and offering Estate Planning
seminars to banks and customers. The community consists of about 5,500
banks; NICA (MBHC) is the exclusive endorsed provider for about 2,000 of
these banks with about 37% of market share. NICA is the number one fee
generator for the State Associations.
The MBHC Corporation has recently signed a deal with Strong Funds Mutual
Fund Family ($30 billion in assets), to be the sole provider of Estate
Planning for its customers with a net worth over $250,000. They have also
signed a deal with Clarke-Bartis. The corporation has reduced its debt
from $4 million to only $300k through greatly improved business practices!
In addition, they have hired a PR Firm.
MBHC has currently signed a “non binding letter of intent” to merge with
Boomers.Com, a business and web site that is receiving 25,000 hits per day
with a customer profile that fits MBHC. They have opened their own web
site as well. nicoa.com and Boomers is at
boomers.com
The stock price is near the low at about 10 cents, there are 50 million
shares Authorized, 38 mil outstanding and 28 mil in the float. There
appears to be substantial accumulation occurring at these levels in large
blocks. Audited financials are expected next month indicating the
reduction of the $4 mil in debt to now profitable numbers. Estimated
income from NICA alone is said to be forecast at $16 million! The company
is due to meet eligibility requirements mid year, yet is scheduled to file
probably this quarter, well ahead of schedule.
In summary we have a company in a major turnaround phase, and at a low in
stock price. Major reduction in debt, several big deals on the table and a
very aggressive stance to the future. We will be adding MBHC to our
portfolio.
PC Staff
Safe Harbor Statement under the Private Securities Litigation Reform Act
of 1995: The statements which are not historical facts contained in this
press release are forward-looking statements that involve certain risks
and uncertainties including but not limited to risks associated with the
uncertainty of future financial results, regulatory approval processes,
the impact of competitive products or other uncertainties detailed in the
Company's filings with the Securities and Exchange Commission.
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