Several companies on the Pink Sheets are making noise in the markets today, surrounding news or intentions of acquisitions. Oxford Funding Corp. (Pink Sheets: OXFD) may not be acquiring another company, but the company is acquiring a portfolio of under-performing loans at a substantial discount from a U.S. mortgage lender.
Evan with the housing market facing serious problems and the mortgage sector in shambles, Oxford believes the acquisition of these under-performing loans might have a potential turnaround to become profitable.
Oxford, which plans on receiving $3 million in these under-performing loans, will be receiving these loans at quite a discount.
“We expect this to be a highly profitable acquisition for the company,” stated OXFD’s CEO, Ronald Redd, in a statement. “In addition, we are hoping to make a series of additional portfolio acquisitions from this nationwide lender over the next several months. We have structured this transaction to be profitable to both our investors and our shareholders.”
Oxford is currently trading at $2.00 per share, a gain of 7 cents, or 3 percent today. Oxford’s main strategy is to acquire these types of loans at a discount and hopefully rehabilitate the portfolio and turn it around for a profit.
Emergency Filtration Products Inc. (Pink Sheets: EMFP) and Applied Nanoscience Inc. (Pink Sheets: APNN) announced earlier today that they have signed a letter of intent to combine the two companies in an all-stock transaction.
Emergency Filtration stock has jumped 4 cents, or 15 percent, since the announcement of the news to 30 cents on the day. In contrast, Applied Nanoscience is down 3 cents, or 4 percent, to 72 cents.
Through the terms of the deal, Emergency Filtration will in essence own 62 percent of the combined company. Also, the board of directors will consist of three members from Emergency Filtration, and two members from Applied Nanonscience.
“The merger of these two companies will result in a number of advantages that can produce superior value to the shareholders of both companies,” said Philip Dascher, CEO of Emergency Filtration, in a statement.
“Joining forces with Applied Nanoscience should produce a number of significant recurring cost savings by creating a single corporate entity whose product and intellectual property portfolio will make it easier to access capital markets. We expect this merger and the resulting benefits to enable us to build a significant business within a relatively short time.”
Pink Sheet Earnings Although companies trading on the Pink Sheets are not required to file with the Securities and Exchange Commission (SEC), they do still release information on earnings to keep investors updated.
Expo Holdings Inc. (Pink Sheets: EXPH) announced this morning its third consecutive quarter of profitability. During the second quarter, the company was able to generate $1.054 million in sales, which provided the company with a net income of $40,720.
According to J.D. Brown, chairman and CEO of Expo Holdings, in an earlier statement, “Continued strong execution by our management team and our valued team members has delivered another profitable quarter for our shareholders. Typically first and second quarter lag behind third and fourth quarter in terms of gross sales. We expect strong demand in the third and fourth quarter from many of our customers including our largest customer a Fortune 100 retailer.”
During the first half of the year the company exceeded $2.7 million in sales; the stock price is currently up 35 percent to about 3 cents on the day.
All Nippon Airways Co., based out of Japan, announced it had net profit of $87.38 billion yen, which is about US$735 million. This was generated from an extraordinary profit from the sale of its hotel operations.
Yesterday the company announced plans to be the first airline to implement an all-electronic ticketing system. This system eliminates the use of a paper ticketing system and shifts the tickets to the screen of your cell phone or to an electronic card that can be scanned by the special scanner.
The company plans on generating US$54 million next year with revenues totaling a little more than US$125 million.
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