Home at last. Like EubieV said, it was an excellent visit with Homelife. We met with Andrew Cimerman, CEO of HomeLife. I was impressed by both Andrew and Eubie.
Andrew is a seemingly endless bundle of energy, and struck me as being a workaholic. He has 30 years experience in real estate and marketing.
It was great meeting Eubie. You all know how bright she is. Well, guess what? She is drop dead GORGEOUS too. :)
Andrew and his staff worked in the office Sunday from 7AM to 10PM preparing the F10 filing. Today he showed us the completed package, and stated that it was going to their attorney's office today for review. He expects to have it filed by the end of the month.
It was stated that based on value, the stock should be currently trading in the $6 to $7 range, and that it has been heavily shorted by several MM's. Andrew feels that once he becomes fully reporting, that problem should be taken care of. He does not plan on staying on the OTC:BB much longer.
He is also looking into more acquisitions to compliment the real estate, mortgage, and appraisal businesses. One of the things he is interested in, and is persuing, is also being in the position of offering homeowners insurance.
One thing he was adamant about. Unlike other companies that do acquisitions by printing millions more shares, Andrew is a cash only kind of guy. He buys them outright and refuses to increase the number of shares.
One thing that I think caught both Eubie and I by surprise, was to find out that the float is even smaller than we had thought. A LOT smaller. Roughly 100K to 150K!!!
Andrew is currently in talks with a couple of new MM's that claim to want to help HomeLife. They would certainly be more friendly that HERZ, and the other jerks that are out there.
I asked about the web site. Andrew said that the site should be updated in just a few weeks. The site has not been updated in quite a long while. For example, when you click on the link for offices in the US, the only link is the Mid West. There are over 55 locations in California alone now, and there is no link. By the time I post this, there may even be more than 55 <ggg>.
This is running way too long. Sorry. More later.
Paul
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