PFCK looks like they are headed in right direction heres a little info from latest Sec filing
The Company expects to raise additional capital for its real estate operations
in the San Jactino Valley (California), where a $3 billion recreational
reservoir is nearing completion and to continue to seek out investment
opportunities in high tech emerging growth companies.
Revenues. Revenues for the three months ended June 30, 1999, increased by
$323,705 or 80% to $405,601 from $81,896 for the three months ended June 30,
1998. This increase resulted from fees charged for investment banking services
as well as an increase in property management income and administration
revenues.
Expenses. Total expenses for the three months ended June 30, 1999, decreased by
$246,752 or 61% to $157,300 from $404,052 for the three months ended June 30,
1998. This decrease resulted from lower home building costs. General and
administrative expenses for the three months ended June 30, 1999, decreased by
$169,808 or 52% to $157,126 from $326,934 for the three months June 30, 1998.
This decrease was primarily due to streamling our operations resulting in lower
salaries.
Results of Operations - Six months ended June 30, 1999, compared to the six
months ended June 30, 1998.
In the first two quarters, the Company raised $607,250 in capital which was used
for working capital, debt reduction and investments. Its primary investment was
into Solutions Media, Inc., an internet company focused on the development of an
interface technology for the convergence of all forms of media into High
Definition Television.
Revenues. Revenues for the six months ended June 30, 1999, increased by $280,640
or 47% to $606,194 from $325,554 for the six months ended June 30, 1998. This
increase resulted from fees charged for investment banking services as well as
an increase in property management and administration income.
Expenses. Total expenses for the six months ended June 30, 1999, decreased by
$566,488 or 64% to $325,636 from $892,124 for the six months ended June 30,
1998. This decrease resulted from lower home building development costs. General
and administrative expenses for the six months ended June 30, 1999, decreased by
$166,287 or 34% to $322,901 from $489,188 for the six months ended June 30,
1998
primariy due to streamlining our operations resulting in lower salaries.
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Changes in Financial Condition, Liquidity and Capital Resource.
For the six months ended June 30, 1999, the Company funded its operations and
capital requirements partially with its own capital and partially with proceeds
from stock offerings. As of June 30, 1999, the Company had cash of $63,458. |
