Perhaps someone wants to place a fresh set of eyes on PWCC--one which looked like it had potential, but after further analysis I determined that the risk/reward may not be worthwhile. But, I very well could have missed something and would be very open to explore new approaches if anyone has some idea.
Here are the facts. Maybe someone else can find something I am missing.
PWCC has a stake is FlashNet (FLAS), a fairly large ISP IPO coming in February.
PWCC will have 330,000 shares of FLAS. Thus, if FLAS is at $30 then it is worth $10 million to PWCC or the equivalent of $3 per share. This, of course, is on top of PWCC's intrinsic value which I cannot gauge. They were a $2 - $4 stock for a while, but that was before they just announced their brokerage dealership. (described below)
PWCC has two affiliates, Allegiance Capital, LLC and Fourteen Hill
Capital, L.P.
Allegiance Capital provides financing to the nation's funeral home and
cemetery owners. (what could be better!)
Fourteen Hill Capital provides financing to growing small businesses and is licensed as a small business nvestment company by the Small Business Administration.
Some of the companies they have stakes in:
FlashNet Communications is a rapidly growing Internet Service Provider
headquartered in Ft. Worth, Texas. FlashNet is one of the largest
privately
held ISPs in the country, providing Internet access to over 175,000
individual and business customers throughout the United States.
FlashNet was
recently
ranked third in the nation for customer service quality by an
independent research group.
(OTC Bulletin Board: HMSK). Homeseekers.com develops software
applications for the real estate and mortgage banking industry. The
company has developed and positioned several software products designed
specifically
for the residential real estate market;
HomeSeekers(SM), HomeSeekers CityNet, H.S. Passport and Realty 2000®.
Homeseekers.com is dedicated to providing the premium Internet real
estate experience for the consumer/homebuyer.
Vaultline is a data communications carrier based in Santa Clara,
California. It
provides Internet access, Intranet circuits and collocation facilities
to Internet
Service Providers and corporate users requiring bandwith capacities of
DS1
or greater. Vaultline provides high quality connectivity with direct
connections to multiple Internet backbones providing maximum throughput
and
reliability. Vaultline has developed a local infrastructure which
include an OC48 Sonet Ring (2.4 Mbps) from which to deliver circuits.
It's Data Center
and Collocation services operate from a carrier class facility with
redundant data and power, delivering absolute reliability.
WorldPort (NASDAQ: WRDP). The company is a global facilities-based
telecommunications service provider offering a full range of voice and
value-added services to carriers and corporate customers worldwide. The
company is developing a state-of-the-art global network through internal
business development, strategic acquisitions of telecommunication
service companies and internal strategic alliances. The company is
focusing on
expanding its network infrastructure in targeted geographic regions in
order to gain early market entry and achieve rapid growth.
SAN FRANCISCO-(January 11, 1999) Point West Capital Corporation (Nasdaq
Symbol: PWCC) today announced that it recently formed Point West
Securities,
LLC, a broker-dealer licensed by the National Association of Securities
Dealers,
Inc. and registered with the Securities and Exchange Commission.
Point West
Securities is licensed as a broker dealer in California, Colorado,
Connecticut,
Delaware, Illinois, Maryland, Minnesota, New Jersey, Oregon and
Pennsylvania and
has applied to be licensed as a broker dealer in approximately 13 other
states.
Point West Securities will offer investment banking services
targeting
e-commerce, telecommunications, internet and other technology growth
companies
as well as provide equity research and brokerage services to
institutional
investors.
The Company reported that Point West Securities hired as a
Managing
Director Michael Gallo (42), formerly a managing director with
Morgan Fuller
Capital Group. Mr. Gallo has 18 years of experience in the securities
industry
with firms including Bear Stearns, Genesis Merchant Group, J.P.
Morgan and
Merrill Lynch. |
