"This announcement appears as a matter of record only
Oxford International, Inc., with the assistance of International Mercantile Corporation (OTC-BB-IMTL) has assisted in the completion of $18,000,000. In an Asset Acquisition with Growth Fund Partners, Inc. Mortgage Bankers Holding Corp (MBHC) Financing Structured and Placed by The Oxford Group, Inc."
Source - oxfordint.com
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Source - 1997-1998 financials for IMTL
"As part of the assets acquired in this series of transactions, the company acquired 200,000 shares of preferred stock, par value $100.00, of Mortgage Bankers Holding Corp. for 500,000 shares of the company's common stock, with rights to 2,000,000 additional shares subject to terms and conditions of the agreement. Pursuant to the agreement, the transaction was subject to confirmation of value as part of the Company's due diligence process on the assets. The Company concluded its due diligence process and concluded that the value of the assets could not be confirmed. As of December 31, 1997, this aspect of the transaction was rescinded."
Link for complete report biz.yahoo.com
Now we know GFP is liquid. Good sign that the value is realized in financials. Audit must be done. |
