MBHC Volume up. Price up. No news since December, was expecting press release the end of January, this could be a indication that something is up.
Here is the scoop.
Mortgage Bankers Holding Corp.
ADDRESS:
900 Washington Ave.
Carnegie, PA 15106
Phone: (412) 278-6272
Fax: (412) 278-5240
PRIMARY STOCK EXCHANGE: OTC (Over-The-Counter)
TICKER SYMBOL: MBHC
TRANSFER AGENT: ChaseMellon Shareholder Services, L.L.C.,
Pittsburgh, PA
Company, through wholly owned Mortgage Bankers Service Corp. (MBSC), originates, services and sells a full spectrum of financial services
products, including business, consumer and home equity loans,
equipment leases and Small Business Administration loans. MBSC
operates primarily through the Mid-Atlantic Region of the U.S.
MBSC has been actively marketing its Computerized Loan Origination
System since June 1994. The system is designed to simplify the approval process, speed-up the processing of mortgage loan applications, and offer consumers a choice of multiple, competitive, mortgage products. Customers receive sufficient data concerning mortgage products, rates, terms and what-if analysis to make a prudent financial decision. In addition, the customer also receives conditional approval of their loan in less than one hour. Realtors and builders benefitted from an additional source of income and a much shorter selling cycle.
SUBSIDIARY: Wholly Owned--
Mortgage Bankers Service Corp.
INCORPORATED: in N.Y. Mar. 15, 1995, as Regatta Group, Ltd. Present
title adopted Nov. 15, 1996. July 31, 1996, acquired Mortgage Bankers
Service Corp. (incorporated in Pa. Jan. 20, 1994) for 2,000,000 Conv. Pfd. shs.
LONG TERM DEBT: None.
STOCK Auth. Shs. Outstg. Shs.
Conv. Pfd. $0.0001 par.......................5,000,000 @2,000,000
Common $0.0001 par.........................*50,000,000 5,000,000
*Incl. 20,000,000 for conversion of Pfd.; and shs. for stock
option plans.
@Closely held. Liquidation value, $1. Each conv. into 10 Com. shs.
STOCK DATA
COMMON VOTING POWER: One vote per share.
VOTING POWER OF OTHER SECURITIES: Conv. Pfd., 10 votes per share.
PRINCIPAL STOCKHOLDERS: Jan. 20, 1997, officers and directors owned
or controlled 80.0% of the voting power, including 53.6% by R.P.
Sobieralski, 8.0% by J.F. Carr, and 8.0% by S.W. Shearer.
TRANSFER AGENT & REGISTRAR: ChaseMellon Shareholder Services,
L.L.C., Pittsburgh, Pa.
TRADED: OTC Bulletin Board (Symbol MBHC).
DIVIDENDS: Com. $0.0001 par: none.
A 1-for-10 reverse split was approved on July 31, 1996.
MARKET MAKERS: Hill, Thompson, Magid & Co., Jersey City, NJ, Chicago IL, Boca Raton, FL; Lion
Capital Corporation, Boca Raton, FL; Public Securities Inc, Spokane WA; Paragon Capital Corporation,
New York NY, Boca Raton, Florida, Boulder, CO; Sharpe Capital Inc, Nasdaq Trading
ma report:
PRO FORMA REPORT: aConsol. Inc. Acct.: Thou. $
@Mar. 8 '96
to
July 31 '96
Revenues.........................................................---
Oper. exps.........................................................4
Income tax.......................................................---
Net income........................................................d4
*Share earns.....................................................Nil
Avge. shs. (Thou.):............................................5,000
dDeficit.
*Based on avge. shs., adjtd. for July '96 1-for-10 reverse stk.
split.
@Date of incorporation.
aUnaudited.
Note: Effective July 31 '96 Regatta Group Ltd. issued 2,000,000
pfd. shs. for all the outstanding com. shs. of Mortgage Bankers
Service Corp.; transaction was acctd. for on a purchase basis. The
above pro forma income statement incls. opers. of Mortgage Bankers
Service Corp. only, from its date of incorporation Mar. 8 '96, and
the balance sheet incls. the combined entities. Subsequent to the
the acquisition Regatta Group Ltd. changed its name to Mortgage
Bankers Holding Corp.
cConsolidated Balance Sheet July 31 '96: Thou. $
Assets-
Cash. & equiv......................................................3
Income tax.........................................................1
Tot. curr. assets................................................4
Organization costs.................................................6
*Net property.....................................................41
Production costs..................................................17
Consulting agreement..............................................21
Intangibles......................................................244
Total assets...................................................333
Liabilities-.....................................................
Note pay.........................................................167
Accruals...........................................................1
Agreement pay.....................................................75
Accts. pay........................................................87
Tot. curr. liabs...............................................330
@Pfd. stk. p.$0.0001...............................................b
aCom. stk. p.$0.0001...............................................1
Paid-in cap........................................................6
Retained earns....................................................d4
Total liabs....................................................333
Net wkg. cap....................................................d326
Equity per sh....................................................Nil
dDeficit.
*Depr. res......................................................47
@Pfd. shs. (Thou.):..........................................2,000
aCom. shs. (Thou.):..........................................5,000
bRepresents $200.
cUnaudited.
Monday December 8, 7:59 am Eastern Time
Company Press Release
SOURCE: Mortgage Bankers Holding Corp.
Mortgage Bankers Holding Corp. Announces It Has Been
Appointed Escrow Agent By a Group of International
Banks for $2.6 Billion Development Project
CARNEGIE, Pa., Dec. 8 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin
Board: MBHC - news) announced today that it has been appointed Escrow Agent of a $2.6 Billion development project led by a group of international banks consisting of Deutsche Bank, Barclays Bank, Credit Suisse, UB Switzerland, and National Westminster-London. Lead eveloper for the project will be PDI, a Joint Venture domiciled in Nevada having offices in Las Vegas and New York City.
The $2.6 Billion development project will consist of several separate projects in Greece, Italy, and the United States with the US projects to be located in Illinois, Arizona, Nevada, New Mexico,
North Dakota, Montana and Virginia. The nature of the projects is varied and will include a 5-Star Resort Hotel with Health Spa, Golf Course, Equestrian Center, Convention Center, Shopping Village, Motels, Restaurants and Lounges, Airport, Quality Inn, Comfort Inn, 3 Hilton Mid-Rise Garden Hotels, 5 Truck Stops and Motel Complexes, 2 Ferries, 4 Luxury Mini Cruise Ships, 5 Aircraft, 2 Shipping Terminals, European Office Building, United States Office Building, Casino,
Apartment Complexes, and Parking Lots. Additional development plans include the acquisition of
various energy producing properties from Texaco.
Mortgage Bankers Holding Corp.'s Chairman, Raymond P. Sobieralski, stated ''the appointment of Mortgage Bankers Holding Corp. as Escrow Agent for this quality international project will have a
direct effect on improving the Company's revenue and earnings in the new term. We are pleased and honored to be recognized by such a premier cabal of banking industry giants. By this
appointment MBHC is poised to make the move from an Over-the-Counter Stock to a Nasdaq Stock, hopefully by the end of the First Quarter 1998.''
Mortgage Bankers Holding Corp. is a diversified technology-based financial services company, which, through its subsidiaries utilizes data transfer and exchange to offer a full spectrum of financial
and asset management services and products.
Financial Statements in this press release other than historical facts are ''forward-looking'' statements within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be
subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual
results could differ materially from expected results.
SOURCE: Mortgage Bankers Holding Corp.
Thursday December 18, 8:01 am Eastern Time
Company Press Release
SOURCE: Mortgage Bankers Holding Corp.
Mortgage Bankers Holding Corp. Announces its
Mortgage Division Has Been Approved As a Fannie Mae
Lender to Sell First Mortgages
CARNEGIE, Pa., Dec. 18 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin
Board: MBHC - news) announced today that its mortgage division, Mortgage Bankers Service Corporation, Inc. (MBSC) has been approved as a Fannie Mae [NYSE:FNM - news] lender to sell first mortgages. With this approval, MBSC may participate immediately in Fannie Mae's
mortgage programs on a nationwide basis through all of Fannie Mae's regional offices.
Since its creation by Congress in 1938 and its evolution into a shareholder owned company in 1968, the Federal National Mortgage Association's (Fannie Mae's) mission has been to provide
financial products and services that increase the availability and the affordability of housing for low, moderate and middle-income Americans.
Fannie Mae approval is a standard requirement and/or compensating factor for State licensing, investor correspondent approvals and warehouse lending on a nationwide basis. As such, Fannie
Mae approval speaks to the stability of MBSC in the Secondary Market.
Mortgage Bankers Service Corporation's President, James F. Carr, stated, ''the appointment of MBSC as a Fannie Mae lender provides MBSC with a Secondary Market conduit to purchase
whole loans and improve pricing through production as well as opens opportunities for MBSC to became a correspondent lender with other Secondary Investors. Additionally, Fannie Mae approval
will allow MBSC to have greater liquidity for additional lending, enabling MBSC to increase earning potential as well as to better serve the community's housing needs.''
MBSC will further benefit as a direct result of its relationship with Fannie Mae by having greater product variety, pricing flexibility, state of the art technology, extensive training opportunities, and
exposure to industry professionals dedicated to the highest level of service.
Mortgage Bankers, Holding Corp. is a diversified technology-based financial services company which, through its subsidiaries, utilizes data transfer and exchange to offer a full spectrum of financial
and asset management services and products.
SOURCE: Mortgage Bankers Holding Corp.
Friday December 19, 8:00 am Eastern Time
Company Press Release
SOURCE: Mortgage Bankers Holding Corp.
Mortgage Bankers Holding Corp. to Become a Fully
Reporting Company Ahead Of April 1998 Deadline
Engages Stokes Kelly & Hinds, LLC as Independent Auditors and F. Thomas
Eck, Esq. as Securities Attorney
CARNEGIE, Pa., Dec. 19 /PRNewswire/ -- Mortgage Bankers Holding Corp. (OTC Bulletin
Board: MBHC - news) announced today that it is preparing to fulfill the requirements to become a fully reporting company with the Securities and Exchange Commission by the end of January 1998,
two full months ahead of its required reporting deadline of April 1, 1998. To realize this self-imposed deadline, MBHC has engaged Pittsburgh based Stokes Kelly & Hinds, LLC,
Certified Public Accountants, to perform an independent audit of the Company's financial statements for filing with the Securities and Exchange Commission. Additionally, Mortgage Bankers
Holding Corporation has retained the professional services of Attorney F. Thomas Eck, III to prepare all necessary, and mandatory SEC filings on behalf of the Company. Attorney Eck limits the
primary focus of his practice to the area of Securities Law and has offices in Nevada and California.
Mortgage Bankers Holding Corp.'s Chairman, Raymond P. Sobieralski, stated ''although MBHC is not required to become a fully reporting company with the SEC until April 1, 1998 based on the
acquisition date of its assets, the Board of Directors of the Company has made the decision to immediately cause the Company's financial statements and other SEC filings to be prepared by
competent, licensed professionals and filed directly with the SEC upon completion at the end of January 1998. MBHC applauds the recent announcement by the NASD, parent company of the
Nasdaq Stock Market, that it might remove approximately 3,400 OTC stocks from the OTC Bulletin Board. MBHC stands ready, willing and able to immediately comply with and to surpass
the necessary SEC filing requirements. By complying with all necessary and mandatory SEC fining requirements, MBHC is positioning itself to make the move from an Over-the-Counter Stock to a
Nasdaq Stock.''
Mortgage Bankers Holding Corp. is a diversified technology-based financial services company, which, through its subsidiaries utilizes data transfer and exchange to offer a full spectrum of financial
and asset management services and products.
Financial Statements in this press release other than historical facts are ''forward-looking''
statements within the meaning of section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation
Reform Act of 1995. The Company intends that such statements about the Company's future
expectations, including future revenues and earning, and all other forward-looking statements be
subject to the safe harbors created thereby. Since these statements (future operational results and
sales) involve risks and uncertainties and are subject to change at any time, the Company's actual
results could differ materially from expected results.
SOURCE: Mortgage Bankers Holding Corp.
I know, the damm thing is up today. I just found it yesterday, I was going to have a friend in Pittsburg check them out for me. The volume has been low for the past month. I got my foot the door at .17 (small & safe, not through with DD yet), to make sure I don't miss something.
They might have one hell of financial statement coming out, so I, am taking a chance. Not a lot of shares issued, compared to other OTC companies.
Anyone familiar with this one.
charlie |
