Taken from gcbankag website:
Company Profile
Junum.com, Inc., has developed and deployed a unique business model based on providing credit repair, credit profile maintenance, as well as other services related to correcting inaccurate credit reports, all via the Internet. Junum.com's credit management and financial services customers including small businesses with inaccurate credit reporting and less than perfect credit, who may have defaulted on other credit providers have been provided with a vehicle to significantly improve their credit scores through Junum.com's patented automated Internet Credit Management and Financial Services Membership. Junum.com clients receive credit facilities via a Junum Credit Card to settle overdue, defaulted or other outstanding problem debts. Junum.com's 15,000 members receive a series of services designed to clean up their credit negative profile as reported by the three major credit reporting companies. Credit Profile Maintenance (CPM) service is the most unique dimension of a Junum. com membership, which along with its other credit repair, enhancement and analysis services sets the Company apart from other companies offering consumer credit related financial services.
Junum.com has developed and patented an automated, all electronic process of verifying and maintaining the accuracy of credit reports (CPM), which includes performing electronic debt negotiation and monitoring credit granting/checking affiliates (e-partners, e-affiliates, etc.). The Company has deployed proprietary Internet applications giving its members instant access to the information and tools necessary to assume a proactive role in the credit process. Junum.com is the first Internet-only, membership based financial services and credit management Company to provide its 15,000 members the most effective credit profile improvement/repair and on-going credit profile maintenance related services in the credit industry. In addition, Junum.com provides a guaranteed issuance of a consumer credit facility (the very minimum is a Junum.com credit card - VISA), and other credit resources from its affiliated e-lenders, e-partners, etc., via the Internet.
Junum.com's use of the Internet as an information and service exchange medium for all related parties to a credit transaction allows the Company to keep its operating expenses extremely low. This dramatically increases the effectiveness of its business -to- business marketing partners, by providing low cost direct access to consumers who are pre-qualified for the services they desire, thus allowing for significant "recapture" of many "potential" consumer credit applicants who otherwise would be lost.
At the present time, the consumer credit repair market is serviced mostly by regional credit collection firms, debt negotiators, a variety of home, auto, credit card and other extremely high interest rate and high fee specialists that provide a one time only service for their credit challenged client.When the clients needs are the greatest, there are generally no other services available to assist the client in joining the mainstream of the population with good credit .Most financial services firms with multiple consumer credit offerings provide narrow and limited services, suggesting that they are primarily interested in completing for the one-time fees. This includes several companies that offer membership service via the Internet. While doing research for this report, the writer was unable to find a comprehensive, viable consumer credit service program that could compare to Junum.com's consumer and small business credit services. The Junum.com product leads to a method of garnering loyalty from its membership.
By providing the subscriber a method to truly repair, rebuild, and maintain the accuracy of his credit reports, all via the Internet, we feel Junum.com will become one of the larger consumer credit and credit management and financial services companies to join the financial services sector as an innovator. We were unable to find a single potential competitor of Junum.com in the consumer credit/debt field that effectively competes with Junum.com's comprehensive and technologically advanced service offering. None of Junum.com's potential competitors offer comprehensive credit profile monitoring programs on an ongoing basis, which includes ongoing credit "clean-up". Most credit services are ineffective due to the fact that many, mistakes, inaccuracies or derogatory credit report items reappear within 6 -to- 9 months after first removal.
The Junum.com membership provides its members with continual electronic (via the Internet) delivery of the only automated Credit Profile Maintenance process (Junum.com patents) available for consumers to avoid the time consuming, continual process of keeping credit reports accurate and up-to-date. Junum.com not only cleans up bad or inaccurate credit through its proprietary EDN (electronic debt negotiation), but maintains the accuracy of credit reports by regularly reviewing reports provided by the three major credit bureaus, disputing errors on an average cycle time of about 45-days. According to Commercial Law Journal; and as reported by Consumer reports, over 80% of all Americans have inaccurate data on their credit reports, while more than 50% of all Americans have errors such as misapplied charges, mistaken identities and other inaccuracies that are reported regularly by the main three credit bureaus and which have the potential to derail a loan or deflect a credit offer.
Junum.com's automated technologies are all designed around Internet protocol (TCP/IP), which it is quickly becoming the worldwide electronic standard. With the proliferation of the Internet and the subsequent rapid rise in transactions occurring over it, Junum.com has positioned itself as an industry leader in both the application of IP Technology and Credit Management and Financial Services. The Internet has grown to almost 100 million users and is expected to experience double-digit growth for the next several years.
Since its inception in April 2000, Junum.com's membership base has grown rapidly to over 15,000 members (each paying a monthly recurring fee of approximately $30 for a host of credit improvement, correction and repair services). From the beginning, Junum.com has developed relationships within its Internet Business -to- Business e-partner-marketing program, whereby businesses that either offer or check credit now refer previously disqualified customers directly to Junum.com. Junum has the ability to turn a disqualified credit candidate into a pre-qualified, revenue source at little or no cost to the credit grantor. The Company sees this marketing channel as an increased revenue source as well as a potential new client base for the Company. The business -to- business referral relationship, including: e-Partner, e-Affiliate, e-Lender, Co-branding, Private Labeling, marketing Junum.com membership as an employee benefit, as well as other Business -to- Business services has received a tremendous response in the few months that it has been actively marketed to credit grantors and other consumer credit related financial services. Based upon the rapid acceptance, effectiveness and resulting exponential expansion of Junum.com's Business -to- Business strategy with marketing partners (e-partners, e- affiliates, co-branding, etc.) and subscribers, the Company estimates that membership growth from various marketing channel(s) is conservatively expected to add in excess of 2 million new members in its third year of operations.
The Company appears to be entering perhaps its fastest growth period and has recently acquired the first of several portfolios of non-performing consumer debt, of approximately 220,000 individuals and small businesses in default on a credit facility. These portfolios are acquired at a fraction of their actual outstanding balance, the first being purchased for just over 1% of outstanding debt balances, and purchased with the use of Junum.com, no-dividend, non-voting Preferred Stock. Junum.com's membership base is expected by management to increase by a minimum of 100% annually for the next 3 -5 years. The financial services sector is expected to increase dramatically as well, based upon a rapidly growing "Membership" base of consumers and small businesses via a patented, real-time, virtually automated credit.
Based upon a current membership of 15,000 members who pay an average of $30.00 per month, Junum.com will generate a staggering $6,000,000 in revenue in 2001.
In an era in which the dot com disasters still loom fresh in the minds of investors, it is refreshing to find a company that follows the business paradigm which dictates that a business must generate revenues in order to survive and those revenues must translate into bottom line profits for the company and its shareholders.
Junum.com management has not lost sight of the fact that in the past few years nearly 80% of the dot com companies that did not generate revenues or profits are no longer in business, and if so, then most likely not for long.
As of the date of the writing of this report, Jumun revenues are nearly $6,000,000 per annum and are expected to increase dramatically over the next year based upon past results and future projections.
There is no reason to believe that the company will do anything other than to follow through with the original business plan that calls for growth of nearly 50% per annum over the next five years. This kind of management and continuity of operation coupled with uncharacteristically low operating overhead cannot help but increase shareholder value over both the short and long term making Junum.com a definite buy.
Officers Positon
David B. Coulter, 32 CEO, Chairman
Tyler Aldous, CPA, 31 President and Chief Operation Officer
Craig Hewitt, 33 Chief Financial Officer
Scott Rader, 32 Chief Technical Officer
Steve W. Keck, CPA, 48 Controller
Ivan De La Torre, 31 Vice President of Sales and Business Development
Travis Harritt, 25 Webmaster
1590 Corporate Dr.
Costa Mesa CA. 92626
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