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Non-Tech : USAB - USABancShares.com -- Ignore unavailable to you. Want to Upgrade?

To: Penny Stocks who wrote (921)	5/2/1999 2:57:00 PM
From: Impristine	Respond to of 2419

USACapital, Inc. 2 employees to 18 employees in 1998.... ===================== source freeedgar.com USACapital USACapital, Inc. (USACapital"), a registered broker-dealer with the National Association of Securities Dealers, is a Pennsylvania corporation wholly owned by the Corporation. A subsidiary of the Corporation acquired USACapital in April 1997 for a purchase price of $75,000, paid in shares of the Corporation's common stock. USACapital is engaged in the business of trading stocks, bonds, annuities, and other investment related products to the general public. The operations of USACapital presently represent less than 10% of the Corporation's consolidated net income. However, during the year ended December 31, 1998, USACapital increased its staff from two persons to 18 persons, which management believes will facilitate the growth of USACapital's business. The majority of the additional employees at USACapital are compensated on a commission basis, which will maintain a variable expense base related to performance. USACapital operates out of the Corporation's corporate office. USACapital generated pre-tax earnings of $141,000 for the year ended December 31, 1998 and $102,000 from the Corporation's acquisition of USACapital in April 1997 through December 31, 1997. Personnel As of December 31, 1998, the Corporation, the Bank and USACapital have a total of 38 full-time and 2 part-time employees.