Here is the text of the SOTM email that came out today:
Lahaina Acquisitions (OTC BB: LAHA)
Current Price: 3 1/2
52-wk High: $6.75
52-wk Low: $0.50
Shares I/O: ~16.4M
Float: ~1.4M
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Lahaina Acquisitions (OTC BB: LAHA) is in position to become a
leading provider of mortgage and financial services in the
nation and on the Web. The Company merged with The Accent
Group (AG) in the latter part of 1999, and since then has been
growing by leaps and bounds. The merger with AG was a
significant step for LAHA, which created a multi-dimensional
and versatile company, providing divisions specializing in
mortgage services, staged financing, and real estate
development operations.
LAHA's Mortgage Services
LAHA's Accent Mortgage Services, Inc. (AMSI) division is a
dynamic growth organization utilizing local neighborhood
mortgage origination offices. The Company has in excess of
200 mortgage offices nationwide and has established a
nationwide "Net Branches" operation, which utilizes the
Internet for back-office (accounting, training, lead
generation, niche mortgage products) and compliance support,
as well as prospecting for loans. Because LAHA has established
its presence online, it has the ability to add additional
branches to its Net Branches network and not be burdened with
the expenses of brick and mortar offices. This gives LAHA the
ability to add branches nationwide to its network with ease.
The Company is currently adding branches on a weekly basis.
LAHA has established a great strategy for growth and
successful operations, giving consumers access to the widest
range of funding and available services. Through mortgage
brokerage branch consolidation, AMSI's mortgage brokers have
unlimited access to a higher level of licensing as mortgage
brokers, in addition to a greater access of funding sources
and other marketing and support services. Once a consumer
completes an online pre-qualification application, a broker
will establish contact with the consumer and will guide the
consumer through the entire loan application process. The
Company is also dedicated to completing the loan process as
soon as possible, providing consumers with the funds they
needs when they need them, an excellent benefit in today's
fast paced market.
Due to the increasing growth of manufactured-home communities,
LAHA realizes the importance of staged financing. The Company
provides interim mortgage financing to the manufactured-home
industry, covering the costs of site preparation during the
time between the date of shipment of a manufactured housing
unit from a dealer to the date of final closing. This staged
financing opportunity provides the manufactured housing dealer
with the necessary stream of revenue to complete the
manufacturing process.
LAHA doesn't stop there. In order to provide top quality
service to consumers, it is necessary to provide highly
trained individuals as mortgage brokers and consultants. AMSI
has initiated recruiting activities aimed at adding additional
mortgage brokers and consultants to its branch operations. The
Company now provides mortgage broker licensing, marketing, and
training (The Accent Academy), in addition to crucial
Internet-based information and services. AMSI gives its
brokers access to a proprietary Internet site for generating
loan application information, communicating with AMSI's
corporate office, access to loan origination software, and
receiving accounting information relating to loan activity.
This gives AMSI's consultants and brokers access to an
abundance of information at the touch of a key, eliminating
extended waits for loan information and providing brokers with
immediate information.
Real Estate
Real estate continues to be a hot commodity, and LAHA is
taking advantage of the ongoing profit potential. The
Company's Accent Real Estate Group (ARG) division specializes
in the consolidation of existing and proposed real estate
development projects. All partners involved in the ARG are
experienced and highly qualified in real estate and brokerage
services. ARG has made arrangements with real estate
developers in which the developers trade their interest in
their development for an interest in The Accent Group, Inc.,
allowing development-ready properties to be available to ARG
at significantly favorable valuations. Developments can then
be used as lead generation opportunities for ARG's primary
mortgage origination business. The Company has a number of
developments currently in its possession and each property
poses a significant source of profit for LAHA. The properties
are:
* Swiss Air Estates: Swiss Air Estates consists of 12
exclusive lake view estate lots and is located near Lake
Sidney Lanier, north of Atlanta. Individual lots range in
value from $350,000 to over $900,000. The finished private
community will contain homes in the $2 million to $4 million
range.
* Castleberry Residential Community: This development is a 197
townhouse planned community on a 33-acre parcel in Cumming,
Georgia. The development will consist of midlevel family homes
in the $150,000 to $180,000 price range. Demand for these
homes has continued to increase due to zoning regulations
restricting the number of homes that can be built on the
property. The demand is exceeding the supply and that's great
news for LAHA.
* Peachtree Industrial Development: ARG owns this 50-acre
industrial lot on Peachtree Industrial Boulevard in Fulton
County, Georgia. The Company is currently designing the lot to
serve as an industrial park.
LAHA recently announced the sale of certain development rights
associated with 30-acres of its modular home community in
Athens, Tennessee. The development rights of the 30
undeveloped acres were sold to H&H Construction, Inc., a
Tennessee corporation. LAHA expects to realize a profit in
excess of $1 million on the sale. This sale came right before
LAHA announced the sale of its subsidiary, Beachside Commons
I, Inc., to Beachside Holding, LLC a non-affiliated Georgia
limited liability company. The major asset owned by Beachside
Commons I, Inc. is Beachside Commons, a commercial real estate
development located in Fernandina Beach, Florida on Amelia
Island. Management has determined that the value of the
transaction is approximately $4,550,000. Consideration
consists of a one year, non-recourse promissory note from the
Buyer in the amount of $3,000,000 (secured by 660,000 shares
of LAHA Common Stock), and the assumption of certain
liabilities primarily consisting of the existing first
Mortgage on the property in the approximate amount of
$1,550,000. The sale of this property will allow LAHA to
continue investing in properties in the Company's target
market and to continue building its mortgage origination
division.
Looking to the Future
LAHA has its sight set on something big, and we believe this
innovative Company is capable of achieving its goals. The
Company announced in early January that it has executed a
letter of intent to acquire all of the issued and outstanding
common stock of Paradigm Mortgage Associates, Inc. The
Jacksonville, Florida-based company originated in 1997 and is
one of the largest cooperative branch mortgage companies in
the country with more than 250 branch offices. According to L.
Scott Demerau, Chairman and CEO of LAHA, "Our wholly owned
subsidiary, Accent Mortgage Services, Inc. ("AMS") has made a
name for itself in the mortgage brokerage industry over the
past six months and has recruited more than 200 new branches.
We are extremely excited about the prospects of partnering
with Paradigm to accelerate our growth. The Executive
Management team of AMS and Paradigm together offer more than
500 years of combined mortgage experience to the market. Both
companies realize the importance of education and training,
and have trained more than 1,000 employees through Paradigm
University and Accent Mortgage Academy." Demerau continued,
"The joining of these two great organizations provides an
excellent platform for more accelerated growth in our mortgage
brokerage division and we believe it will propel us 18 months
ahead of our growth model."
This is a very exciting opportunity for LAHA. Once the
acquisition is complete, LAHA will merge its Accent Mortgage
Services with Paradigm, creating a mortgage company consisting
of over 400 branch offices, an excess of 1000 highly qualified
loan officers, and a combined origination run rate exceeding
$500,000,000! LAHA has plans to change its name to The Accent
Group, Inc, and will make its mortgage services division its
top priority. This is great news for the investment community.
Similar online mortgage and financial services companies, such
as E-Loan (NASDAQ: EELN), have performed extremely well in the
market, and we believe LAHA has the potential to do the same.
As common stock prices continue to rise for EELN, we believe
investors will take a long and hard look at LAHA as a
potential investment. For those waiting for EELN to get too
high for buys before they invest in LAHA, they are missing out
on an awesome investment opportunity. LAHA is a rocket waiting
to take off and now is the time to research this Company and
see what it has to offer. Just remember: As long as people
need places to live, LAHA will have the services they need and
will undoubtedly become the leader of the mortgage services
industry.
Company Press Releases
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Disclaimer
Forward-looking statements in this release are made pursuant
to the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that
investing in securities based on such forward-looking
statements involves risk and uncertainties. All investors are
cautioned that they may lose all or a portion of their
investment if they decide to purchase any profiled stocks.
Readers should consult with their own independent tax,
business, and financial advisors with respect to any
investment in the presented companies. SOTM is an independent
newsletter, providing readers with financial research of
publicly held companies. SOTM selects companies with the
belief that they posses the potential for sustained financial
growth or select financial opportunity. All analysis and
expressions are the opinion and belief of SOTM and are not an
offer or solicitation to buy or sell and securities mentioned.
SOTM does not provide an analysis of the financial positions
of the companies contained herein. SOTM, its research team,
affiliates, and/or families may at times hold positions in the
selected companies, however, it is not under SOTM's control,
or within our scope, to monitor the transactions or holdings
of SOTM friends or families. To be in full compliance with the
Securities Act of 1933, Section 17(b), management of SOTM, in
regards to LAHA, has agreed to receive forty thousand one year
restricted 144 stock. The services rendered herein include
project analysis, electronic dissemination of this report, and
periodic updates performed on behalf of the company. All
analysis, statements, and expressions made by SOTM are
obtained from materials supplied by selected companies, other
public sources, and/or interviews conducted by SOTM. Although
it is the belief of SOTM that all sources of information are
factual and reliable, we in no way represent or guarantee the
reliability of such information. |
