>>. I am looking into this company now. <<
Well I have not been able to get much info on this company. I can see that they have great potential and if so then they are way undervalued at anythign under 40 or so. But the risks of finding really undervaled companies with potential also means it may remain undervalued or get more undervalued. The insiders sold 30% of their holdings last month which really got to me, and that 30% helped pay for their original investment and taxes and made a real nice chunk of change considering they bought like 1 mil shares at a price under 2 1/2 and sold for 16 in an year (not sure if they really dumped all those shares or just part of it and the rest really just went into the Rotter Group investments club..
This is an entirely family based, owned and run business. Very risky but in that sence they will also not do anything to hurt themselves either.
As of 2/16/99 SEC reports, major PWCC Stock holders were as follows
Brad Rotter 1,082,178 or 33.2%
Alan Perper 536,265 or 16.2%
John Rotter 619,101 or 18.9%
Fleet Financial 225,000 or 6.9%
Kamizise et al 202,581 or 6.2%
Heartland 160,600 or 4.9%
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TOTAL 2,826,725 or 86.3%
Then on March 24, 1999 Dow Jones Newswires Rotter Group Holds 29.6% Point West Capital Stake
A group including investor Bradley N. Rotter reported a 29.6% investment stake in Point West Capital Corp. (PWCC).
Investor Michael Fitzsimmons reported a 2.5% stake representing about 83,000 outstanding common shares of the company.
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Summary of Transactions for March 1999 as of 3/25/99 filing
All of the following sales were effected in brokerage transactions on the Nasdaq Stock Market.
Date sold / Number of Shares Sold / Average Price
Bradley N. Rotter
03/09/99 5,000 16.0000
03/10/99 8,000 14.7969
03/11/99 34,900 16.0206
03/12/99 40,000 15.7969
03/15/99 110,100 16.7018
03/16/99 2,800 15.5000
The Perper/ Raiche
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Revocable Trust
- --------------
03/09/99 45,000 15.7614
03/12/99 5,000 16.0000
03/15/99 10,000 18.0000
John Ward Rotter
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03/09/99 5,000 16.4250
03/11/99 20,000 15.8655
03/12/99 24,000 15.7214
03/15/99 80,000 16.3129
03/16/99 40,000 17.5313
Lodestone Capital Fund, LLC
- ----------------------------
03/09/99 27,600 15.7883
03/10/99 22,700 14.7897
03/11/99 27,800 15.6169
03/12/99 25,500 15.7269
03/15/99 20,000 17.3984
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Fourteen Hill has made the following investments:
$750,000 of 5% convertible preferred stock of Amnex Inc, investment made in first qtr 1998, doesn't look to be going in the right direction. NASDAQ symbol AMXI or AMXIC
Fourteen Hill owns 971,000 common shares of First Priority Group NASDAQ symbol FPGP.
$1,000,000 of convertible debt of Vaultline, this debt can be converted into common equity at some point.
$900,000 of 7% convertible preferred stock of WorldPort Communications Inc. Convertible into 671,640 common shares of WorldPort. NASDAQ symbol WRDP worth about $6.4 million at todays prices.
1,120,266 shares of Flashnet common stock, They paid $2 million for this stock in 1998 and at the IPO price of $14 it will be worth $15.6 million.
They loaned Homeseekers.com $250,000 in sept of 1998. They earn 14% interest on this loan plus 50,000 stock warrants per quarter that the loan is outstanding for 2 15/32. They currently have warrants to purchase 119,000. They also purchased in a private placement 500,000 of common stock of Homeseekers.com, Inc. (HMSK).
PWCC also owns 14.7% of Carclub.com in convertible preferred stock.
Fourteen Hill also purchased 1,000,000 of common stock and warrants in a private placement by DBS Industries, Inc. (DBSS). DBSS is designing and developing an automated meter reading service utilizing low earth orbiting ("LEO") satellites.
PWCC also has $6.6 million in cash.
They plan to lanuch a investment banking division at vcroadshow.com
They own Allegiance Capital which loans money to funeral homes. |
