EVIS- E vision USA.com, emerging new online broker
Who is E vision?
E vision USA with its subsidiaries, is a registered securities
broker/dealer, is engaged in industry specific software development and
provides consulting services, and participates in insurance brokerage
activities in certain states. For the nine months ended 6/99, revenues rose
42% to $28.2 million. Net loss from continuing operations before
extraordinary item fell 71% to $1 million. Results reflect higher
brokerage commissions and decreased S/G/A expenses as a percentage of
revenues.
What are the subsidiaries of E vision USA.com?
1. American Fronteer Financial Corporation, a regional securities
broker/dealer,
2. eBanker USA.com, Inc. which offers, among other things,
Internet-based high-yield lending opportunities
3. Secutron Corp., a computer
hardware seller and software developer.
Consolidated developing companies include:
1. eBroker USA.Com, Inc., a proposed on-line securities brokerage business
2. Q6Technologies, Inc., a business venture surrounding technology-based virtual
processing arenas with John Cusick, former founder, chairman and CEO of Primestar
as its chief executive officer.
The online brokerage house is scheduled to open in 1999. The site can be accessed at
ebrokerusa.com.(I have been told the name will be changed to olbroker.com (for
onlinebroker.com)
Here is a link to the Yahoo recent news and profile for EVIS which shows details on
EVIS:
PROFILE: biz.yahoo.com
RECENT NEWS: biz.yahoo.com
Subsidaries:
secutron.com
midrangesolutions.com
ebankerusa.com
ebrokerusa.com
quakerfunds.com (letter of intent to acquire)
Q6 Technologies (x-ceo of Primestar at the head)
American Fronteer Financial Corporation
Accounting firm for EVIS: (fully reporting to SEC)
dttus.com
This press release from March lists some of the projects being worked on at EVIS as
well as some background information on the company:
Frontier Financial Holdings (FDIR) changed their name to Evision USA trading under
the symbol OTC:BB EVIS
DENVER, March 30 /PRNewswire/ -- Frontier Financial Holdings (now EVIS) and
privately held Q6 Group, Ltd.
announced today the formation of a business venture which will focus on
the development of business opportunities in technology-based virtual
processing arenas. The new initiative, named Q6 Technologies, Inc., will
focus initially on value-added transactions processing for selected
e-commerce applications, as well as the development of commercial
opportunities in digital Geographic Information Services (GIS) and in
satellite Internet Protocol multicasting.
Q6 Technologies, Inc. will be headed by John J. Cusick, as Chairman and
CEO. Mr. Cusick has an extensive background in the development of
successful technology-based firms. He was the founder, chairman, and
CEO of PrimeStar, the first digital satellite television service in the world.
He launched PrimeStar from concept to its first million subscribers. The
Company was recently sold for nearly $2 billion. In addition, Mr. Cusick
was a founding director and investor in SSDS, Inc., a Colorado-based
pioneer in client-server computer networking, which was sold to United
Video Satellite Group in 1995. He has served as Director, President, and
CEO of several other ventures, including the Swedish-owned Innova
International Corporation, a $250 million revenue group of firms engaged in
cellular telephony and networking services.
Fronteer Financial Holdings, Ltd. is a Denver-based holding company with
consolidated entities that include American Fronteer Financial Corporation
(AFFC), a regional securities broker/dealer headquartered in Denver with
branches in New York; Chicago; San Francisco; Atlanta; Dallas; New
Orleans; Reston, Virginia; Las Vegas; West Palm Beach; Colorado
Springs; and Albany.
Fronteer also controls Secutron Corp., a computer systems and services
company, and eBankerUSA.com, Inc. (eBanker). The formation of Q6
Technologies, Inc. represents the next step in the movement of several
consolidated subsidiaries of Fronteer to Web-based business strategies.
The first step was the formation of eBanker, an Internet-based high-yield
lending operation. The second step was the establishment of
eBrokerUSA.COM, Inc. (eBroker), which plans to establish an on-line
securities brokerage business.
Q6 Group, Ltd., the other principal in the business venture, is a privately
held firm based in Princeton, N.J., which has made investments in
computing networking, satellite broadcasting, digital telephone switching
and bio-technology ventures.
8/4/99 For the nine months ended June 30, 1999, eVision reported
revenues of $28,186,000, an increase of $8,346,000 or 42.1% over
revenues for the comparable prior year period.
NOTE: EVIS formed a technoloogical advisory committee in June of this year. Here is
the news link:
quote.bloomberg.com.
FINALLY:
eVision Signs Letter of Intent withQuaker Funds, Inc.
August 10, 1999 11:30 AM
DENVER--(BUSINESS WIRE)--Aug. 10, 1999--eVision USA.Com, Inc. (eVision
or the Company) EVIS signed a letter of intent to acquire control of Quaker Funds, Inc.
(see www.quakerfunds.com).
Quaker Funds, Inc. is the developer and sponsor of the Quaker Family of Funds, a
group of six mutual funds having approximately $70 million assets under management
with an independent institutional investment advisor managing each fund. The Quaker
Aggressive Growth Fund was rated fourth among the top fifteen performing mutual
funds evaluated by the Wall Street Journal on August 2, 1999. The Quaker Aggressive
Growth Fund, according to the Wall Street Journal, reflected a 60.25% return for the
52-week period ending July 29, 1999.
"This acquisition will add a new dimension to the Company's broker/dealer related
business which has traditionally focused on retail sales and corporate finance," said Mr.
Fai H. Chan, President and Chief Executive Officer of eVision. "This should enhance
our asset-gathering abilities."
The Quaker Family of Funds was developed to bring the unique skills of prominent
investment management firms to the mutual fund community. Quaker Funds include the
Core Equity Fund managed by Geewax, Terker & Company, the Aggressive Growth
Fund managed by DG Capital Management, the Small Cap Value Fund managed by
Aronson + Partners, the Fixed Income Fund managed by Fiduciary Asset Management
and the Quaker Mid-Cap and Large-Cap Value Funds managed by Compu-Val
Investments.
Quaker Funds, Inc. is based in Valley Forge, Pennsylvania, and is owned by Jeffry
King, Principal of Quaker Securities, Inc., Peter Waitneight, Quaker Funds, Inc.
President, and David Dameron, Vice President, Marketing. Quaker Funds, Inc. was
founded in 1996 and the Quaker Funds commenced operations in November of that
year. The Quaker Funds have received favorable comment in the financial press for
investment style and performance. The Quaker Small-Cap Value Fund, managed by
Ted Aronson of Aronson + Partners, Philadelphia, was the first winner with a feature
article in the July 1998 edition of Mutual Funds Magazine. More recently, the Quaker
Core Equity Fund, managed by John Geewax of Geewax, Terker & Company,
Pennsylvania, and the Quaker Aggressive Growth Fund, managed by Manu Daftary of
DG Capital Management, Boston, have attracted press attention.
The terms of the acquisition include payment of 4,666,667 shares of common stock of
eVision. After the acquisition, eVision would own approximately 60% of Quaker
Funds, Inc. The Quaker Funds, Inc. shareholders will be able to sell their eVision stock
back to eVision if the eVision stock does not trade at an average price of $3.00 per
share for a period of time between one and two years after the closing. There are also
provisions whereby the Quaker Funds, Inc. shareholders may sell the remaining 40%
ownership to eVision or buy back the 60% sold to eVision.
The Quarter Funds are now distributed through Schwab OneSource, Waterhouse
Advisor NoFee Network, Vanguard Brokerage Services, Fidelity FundsNetwork,
E*Trade and other mutual fund "supermarkets." The Quaker Funds will now be made
available through American Fronteer Financial Corporation, a subsidiary of eVision.
"I am very excited about this deal," said Jeff King. "I really like the folks at eVision.
They have a very good client base and they will be able to use the Quaker Funds to
great advantage for individual portfolios. Working together, I believe that we can
significantly increase assets."
it should be noted that that the Quaker Funds offer values EVIS at $3 a
share for the shares being used to purchase controlling interest. EVIS currently trades at
a substantial discount to this price.
Ties to Hong Kong:
The company's owner is from Hong Kong and has major plans to bring his company's
services into that market.
Float: 3.6 million shares
price: .94 |
