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Microcap & Penny Stocks : Zia Sun(zsun) -- Ignore unavailable to you. Want to Upgrade?

To: Sir Auric Goldfinger who wrote (4974)	10/13/1999 4:58:00 PM
From: StockDung	Read Replies (1) \| Respond to of 10354

Loraca International, Inc. Loraca International, Inc. ("Loraca") is a financial services holding company. It was formed on March 11, 1996, as a Nevada corporation and currently operates a mortgage bank through its wholly-owned subsidiary, NMMC, Inc. ("NMMC," and together with Loraca, the "Company"), headquartered in Lake Oswego, Oregon. NMMC is a New Mexico corporation which was formed on March 28, 1986, under the name B.C. Trucking, Inc. In 1991, NMMC commenced loan originations and changed its name to New Mexico Mortgage Co., Inc. In December 1998, the name New Mexico Mortgage Co., Inc. was changed to NMMC, Inc. NMMC is currently focused on the origination and sale of non-prime mortgage products in certain western states and is doing business as New Mortgage Millenium Corp. All of the outstanding capital stock of NMMC was acquired by Loraca in a purchase transaction on February 23, 1998. From 1991 through early 1999, NMMC originated primarily single family, conventional and government insured mortgage loans. Commencing in March 1999, NMMC began to shift its focus to origination of non-prime mortgage loans under the direction of a new management team. See Item 5, Directors and Executive Officers. As part of its new strategic focus, NMMC closed its retail lending operations in Albuquerque, New Mexico and Irvine, California and relocated its principal offices to Lake Oswego, Oregon.