NICM (National Institute Companies of America) Message Board

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Microcap & Penny Stocks : NICM (National Institute Companies of America)

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To: bruceski who started this subject	12/12/2000 11:17:02 PM
From: bruceski	Read Replies (3) of 124

Shareholder's meeting summary: While I was trying to get through today's posts to see what was posted and what was not, I saw a lot of misinformation so I am just going to post from my notes. Anything I had questions on after the meeting, I reviewed with several others or asked management. I will say that anyone who found the meeting uniformative didn't listen. There were 4 strategic alliances announced at the meeting: 1) Strategic Financial Solutions is Dennis Rushovich's company and a member of the Sage group which is a huge multbillion dollar company. They are a professional service and technology firm that provides some of the world's largest financial institutions with solutions for managing insurance and investment programs. Typical revenues range from $5000-50,000 per month per system. strategicfs.com 2) Prime Solutions provides financial services to high net worth clients and is a leader in advising clients on asset management. They also develop solutions for small cap companies. They manage over $500 million in assets. This is run by Thomas Santone. They are also a broker dealer 3) Universal Genesis LLC is run by Stephen Bradley and enhance's institutional cash assets, cash equivalent assets, fixed income assets of major US corporations, pension funds etc. 4) Easycap is an insurance provider that provides insurance for variable rate loans to protect the borrower. It is backed by Toronto Dominion Bank which is one of NA's highest rated banks. This is now available to community banks where previously it had only been available on loans at $5 million +. It is run by Larry ? who was Dean at Columbia University. The company's net worth has gone from negative $2.2 million when Maloney and crew took over to $9.5 million and may be higher when the auditors give the final value to some assets. Oxford by itself is projecting $50 -100 million in revenues (not loans) and has loans in the works of $1.6 Billion. In the next 90 days, they antcipate closing $160 million in loans. It was verfied that the commission rate is about 3%. When asked about financing the $300 million speedway in Pittsburgh, it was a "no comment" but it was then said they will be attempting to get that business. Talking with Paul Apostolu, it was determined that an addition 5+ of these are planned once this one proves to be successful from an exhaust and noise standpoint. Other revenues are projected at $10 million but it was also stated that each division should be up to Oxford's level in the future. One of Kevin's most omportant statements was easily missed by many until Ferrari had him repeat it. They have no debt other than day to day costs and "we have money". There are stil two acqusitions planned as stated earlier and these will be done with stock and cash. ABSOLUTELY NO REVERSE SPLIT The company has considered a stock buyback program but Mellon Shareholder Services advised against it at this time. CEA was a regional company based in PA and OH and has since become a national company. They have conducted 12 seminars so far this year and have added several new courses. The GFP lawsuit is being mediated tomorrow and could be settled tomorrow as well. It is over roughly 300K shares. The company has only issued 20-25 million new shares since the last meeting, for lawsuits, acquisitions, and compensation. The company determined more shares from previous management were out than they had known about. Maloney is paid entirely in shares restricted by 144 rules and his shares are restricted for another year. Other executives take shares in lieu of cash as well. The company has added mutual funds and annuities in addition to their insurance products. They are currently endorsed in 7 states which represents 40% + of community banks. They anticipate doubling that this year. Two shareholders were placed on the board of directors in an advisory role. The company has no current PR firm but have been in contact with several well known firms. At this time we do meet meet their market cap requirements. I was highly impressed with Santone's answering of question as he seemed extremely intelligent. If I can think of anything else, I will post it tomorrow. Those who felt the meeting was worthless didn't take the time to talk with management after the meeting. Many left as soon as the meeting was adjourned but a few of us stayed and continued asking questions for almost an hour after the meeting. You don't get answers to unasked questions.

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