To: Pask who wrote (66 ) 7/6/1999 4:21:00 PM From: marketmaven Read Replies (1) | Respond to of 81
Anderson Eyes Full Status, Shares Soar 7/6/99 1:15:00 PM By Rich Hubbard, dbusiness.com FORT LAUDERDALE, July 6 (dbusiness.com) -- Small-cap Anderson Computers/Tidalwave Corp. is now in its “final stages” to become fully reporting, the diversified computer and online mortgage firm said Tuesday. The local company's penny stocks were trading at 44 cents Tuesday morning, up a robust run-up of 74.80 percent, on the news. Anderson is complying with new, tougher OTC Bulletin Board guidelines. The firm is trading on the OTC Pink Sheets under its ticker of ACPT -- dropping the temporary ACPTE ticker it had been using. Here's how it works: The local firm recently filed a Form 10-SB with the Securities and Exchange Commission. On approval of its 10-SB, Anderson will begin filing regular quarterly and annual reports with the SEC. At that time, the company can once again begin permanent trading on the OTC BB under its ACPT ticker. The computer company, which is in the process of diversifying its business into online mortgages and mortgage services, “will soon be changing its corporate name to better reflect the company's new direction,” Anderson predicted Tuesday. dbusiness reported June 24 that Anderson had completed its acquisition of a minority stake in Citizen's Title Services Inc. of Fort Lauderdale, an insurance and mortgage firm. In an earlier acquisition, Mortgage Depot Online of Boca Raton became a wholly owned subsidiary of Anderson, a computer reseller with a market cap Tuesday of only $8.82 million. On July 29, Anderson said it expected to sign a formal letter of intent to acquire yet another mortgage company “within the next couple of weeks.” Anderson said the targeted firm “does approximately $50 million in mortgage originations” annually. Anderson shares have seen a 52-week high and low of $1.25 and 20 cents. Anderson says its goal is to have revenues “in excess of $50 million” within the next 12 months. Because Anderson is not yet a fully reporting company, current revenues were not disclosed Tuesday. dbusiness Copyright © 1999 dbusiness.com. dbusiness.com is a trademark of dbusiness.com, inc. Copyright © 1999 Technology and content by eLogic communications. All Rights Reserved FOR INFORMATION ONLY Search, Quote and index technology developed by eLogic. Historical information supplied by Iverson Financial , news articles contibuted by Reuters and Comtex. Data and information is provided for informational purposes only, and is not intended for trading purposes. Neither eLogic nor any of its data or content providers shall be liable for any errors or delays in the content, or for any actions taken in reliance thereon.