AFSR .13x.16.Bammmmmmmmmmmmmmmmmmm.
To:Rocket Red who wrote (104382)
From: Taki Thursday, May 2, 2002 10:19 AM
View Replies (1) | Respond to of 104660
AFSR .06x.09.IMO it should be way higher than that, and it will, and very soon.
IMO maybe .50 to $1.00 per share, if the .11 per share earnings comes to be fact..50 to $1.00 on 5 to 10 PE.
Even if they make .02 per share, with 10 PE=.20.
So I see value here.There for I am buying more.
1)Read DD.Worth reading IMO all the way down to #8).
(COMTEX) B: AutoFund Servicing, Inc. Reports $2 Million Loan Approved
B: AutoFund Servicing, Inc. Reports $2 Million Loan Approved
SAN ANTONIO, March 7, 2002 (PRIMEZONE via COMTEX) -- After careful evaluation
of its projected cost of Auto portfolios and expected operating cost, the Board
of Directors of AutoFund Servicing, Inc. (OTCBB:AFSR) announces that 11 cents
per share is in the company's forecast.
According to Mr. James Haggard, Chairman of the Board and President of AutoFund
Servicing, "Eleven cents on twenty million outstanding common shares is in our
grasp, when you take our history into play. We have consistently acquired Auto
portfolios for 1% to 1.5% of face value and the cost of collecting these
portfolios has not been more than 40% of the face value. Now with the new lender
in place, an essential part of the puzzle is about to close. The new $2,000,000
loan will afford us the opportunity to purchase $200,000,000 in additional Auto
portfolios and, with our reduced operating cost, we can now expect earnings per
share of 11 cents."
2)Dirt, dirt, cheap IMO.
3)James Haggard =President and Chief Executive Officer owns 18 million shares per last filing=90% of the outstanding=wow
4)Shares outstanding 20 million.
5)Float only 2 million.
6)Book value +.
7)SAN ANTONIO, April 9, 2002 (PRIMEZONE via COMTEX) -- AutoFund Servicing, Inc.'s (OTCBB: AFSR chart, msgs) Board of Directors announced that it has completed a reduction of the Company's overhead by 40%. Furthermore, due to the company's new strategically focused collecting, revenues are generated in six to nine months rather than in the 18 to 24 months of the past.
"We have restructured and refocused our collection staff to collect first from what we call the 'premium four' (i.e., insurance, collateral, bankruptcy and tax rebates) of our auto portfolios," according to Mr. James Haggard, Chairman of the Board and President of AutoFund Servicing. "These four sections represent over 88% of our collective potential net revenue from the auto portfolio. History has shown us that the fifth part of the portfolio, the deficiency balance section, has always been very labor intensive with a high employee turnover. So by changing the focus of our collection staff, we have been able to cut our employee base significantly and reduce our previous collection time of 18 to 24 months to as low as six to nine months. During the sixth to ninth months we then resize and remarket the portfolio for 150% of its original cost. As a result we collect eight percent of the face value in one-fourth the time. As an added bonus of our strategically refocused debt collecting, our operating costs have adjusted down to 32%."
8)8)The stock was .90 four months ago, and the reason for the crash=(COMTEX) B: AUTOFUND SERVICING INC. - Stock Drops 84% in 19 Trading Days
B: AUTOFUND SERVICING INC. - Stock Drops 84% in 19 Trading Days and Company
Gets Stronger
New York, New York, Jan 16, 2002 (Market News Publishing via COMTEX) -- During
the last 19 days of trading AutoFund Servicing, Inc.'s stock has traded for a
high of .40 to a low of .06 losing 84% of its value. Yet according to Mr. James
Haggard, Chairman of the Board and President, things are looking much better.
Mr. Haggard further states, "I do not understand public stock as well as I
understand running AutoFund, but I am a quick study. AutoFund became public in
part, due to a reverse merger. The merger unfortunately came with 2 large
shareholders who, in my opinion, would have inhibited our future growth and
financial stability of the stock. We now have reason to believe these
shareholders have sold their interest in AutoFund and moved on. This sudden sale
of their stock, I believe, resulted in the collapse of the stocks integrity. Now
with these shareholders out of the picture AutoFund has a better opportunity for
its future growth and financial stability of the stock."
Mr. Haggard continues, "Very few investors know of AutoFund and that has to
change. At present, we are in the process of interviewing with several public
relations companies. Getting the word out about who AutoFund is has become as
important as running it.
"We are days away from closing two major portfolios with a total value of 96
million dollars. The due diligence for the portfolios are completed, the offers
accepted and the lenders in agreement. Acquisitions this size take time and lots
of patience. We may have been a bit premature back in September 2001 when we
announced the Non-Binding Bid for the 56 million portfolio, but all things come
in their own time. An announcement with specifics on the portfolios will follow
the closing." |
