► CYAA: HIGHLIGHTS of the SEC REPORT for 1999...
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PORTFOLIO:
The Company's portfolio consists primarily of restricted and unrestricted shares of common stock in micro to small cap publicly traded companies. This portfolio currently consists of shares of common in over 70 different companies whose operations range from that of high-tech Internet operations to oil and gas companies. The Company believes that the diversity of its current holdings is such that the overall volatility of its portfolio is significantly less than in prior years of operations. The Company generally books securities that it accepts as payment at a 25% to 75% discount of the current market value at the time the Company accepts the securities due to illiquidity of the securities because of restrictions on resale.
FINANCIAL CONSULTING:
Revenues from the Company's financial consulting operations increased for the year ended December 31, 1999. The Company recorded $3,822,117 in revenues for the year ended December 31, 1999, from its financial consulting operations as compared to $996,447 for the same period of 1998. This increase was due to an increase in the number of clients that retained the Company during the year ended December 31, 1999 coupled with an increase in revenues from the sale of securities previously received as payment for services rendered.
REVENUE AND EARNINGS:
Gross revenues for December 31, 1999 and 1998 were $6,858,784 and $4,189,634 respectively. Gross revenues for the year ended December 31, 1999 increased 64% over December 31, 1998. This is due to a $2,825,670 increase in financial consulting and a $235,018 increase in rental revenues in 1999 as compared to 1998. The net profit as a percentage increased by 786% for December 31, 1999 over December 31, 1998. The Company recorded a net profit of $3,624,067 compared to a net profit of $408,984 for December 31, 1999 and 1998, respectively. The Company's improvement in profitability is largely attributable to the increase in consulting. Additionally, the Company realized a gain from the sale of investment securities of $698,759 in 1999 as compared to gain from the sale of investment securities of $375,323 in 1998.
CAPITAL RESOURCES and LIQUIDITY:
At December 31, 1999, the Company had current assets of $6,019,507 and total assets of $17,726,261 as compared to $2,777,442 and $12,594,655, respectively at December 31, 1998. The Company had net working capital of $3,831,190 at December 31, 1999 compared to a working capital deficit of $1,410,156 at December 31, 1998. Net stockholders' equity in the Company was $7,473,761 as of December 31, 1999, compared to $3,381,184 as of December 31, 1998.
GROWTH OF ASSETS AND SHAREHOLDERS EQUITY:
ASSETS: Securities available for sale in 1999: $3,970,445... in 1998: $937,282....
TOTAL SHAREHOLDERS' EQUITY: 1999 @ $7,473,761... 1998 @ $3,381,184
FUTURE:
The Company expects increases in expenses through 2000 as the Company steps up its effort to acquire additional properties and continues to grow its consulting businesses.
CONCLUSION: Based on the foregoing, I expect continued Growth to translate into about $2.50 to $3.00 EPS for 2000, listing on AMEX and a potential Forward Split... Initial target: $10.00... End of Year Target: $30.00+
JMHO, F. Goelo + + +
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