I have had lots of inquiries as to how the company is doing and what we are working on behind the scenes, so I want to take a quick minute to update you on some things.
We are an asset-based finance company, as has been the case for the last six years. As such, we are presently working on setting up some warehouse lines (credit lines used to fund loans with). These warehouse lines are used to fund loans and “warehouse” them, or hold them for resale on the secondary market. Selling the loans off the line is how we’ll make money. Until we are further down the road with getting these lines secured, I won’t be issuing any news related specifically to that, as I don’t want to be accuses of being overly optimistic and misleading.
We plan to work primarily with transactions that are based on assets in the life insurance and commercial real estate sectors. After we get these verticals solidified, we will explore other asset classes. We are no longer working with mining and precious metals assets, as stated in my press releases.
I’ve been asked repeatedly whether or not we will need to raise money by issuing new stock. Without a doubt, the answer will be yes. The decision, however, needs to be made as to whether or not we will need to do a reverse-split in order to accomplish this. At this time, my desire is to raise the authorized stock limit versus doing a reverse-split. However, as you all know, I will need to temper my expectations to meet with the requirements of any would-be funding partners. Therefore, I cannot state definitively at this time what is going to happen–simply because I don’t yet know. My desire is to avoid doing a reverse-split, though.
That said, my goal has been and always will be, to move the company forward to fully reporting status and ultimately, listing on the NASDAQ. This will be a long road and will require shareholders to stick with me for an extended period of time. And, as always, I cannot guarantee that people won’t lose money (including myself).
However, because my interests are aligned with shareholders, I can assure you that I am in this for the long-haul and will make it work. My goal is to have things turned around in the next few months.
I’ll post more soon. Thank you for your support!