Brokerage and venture capital firm VFIN touts itself as a "new breed" of financial services company. Through its Web site and subsidiaries, the company offers venture capital, brokerage, investment banking, and asset management services to more than 10,000 corporate and private clients worldwide. VFIN is trying to do some expanding itself: in recent years it has added three retail brokerage firms, a wholesale trading unit, and more than 25 independent contractor offices to its network. In late 2004, the company acquired Global Partners Securities, a Florida-based institutional brokerage. In November, VFIN reported its 6th consecutive profitable quarter and a strong balance sheet; positioning the company for future expansion and increased shareholder value. For the third quarter ended September 30, 2004 VFIN reported revenue of $4,629,023, a decrease of 34% over the prior year’s period. Net income came in at $19,742 or $0.00 per diluted share. For the nine months ended September 30, 2004, VFIN’s revenues increased 10% year-over-year to $18,587,245. Year-to-date net income was $2,335,431 or $0.07 per fully diluted share. Despite the downturn in the current quarter’s revenues, VFIN was able to realize a profit as a result of efficiencies realized from its continued investments in IT systems, as well as its management restructuring and reduced legal costs.
The company’s balance sheet remains strong. As of September 30, 2004 VFIN had a cash position of $4.2 million and virtually no long-term debt. "Beginning in late Q1 we have seen a continued softening in the financial services industry," said Leonard Sokolow, CEO and President. "Our ability to make an operating profit demonstrates that our business model and investments made in our technology systems are working." "Having a strong balance sheet and an efficient business model positions us to take advantage of the acquisition opportunities that exist during down markets," said Timothy Mahoney Chairman and COO. "Our acquisition of Global Partners Securities... demonstrates our ability to increase shareholder value during the toughest market conditions."
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In at .26 out at .34, one thing about this thing is it lets me sleep at night.I only sold to raise capital for another stock.I will buy again when I take profits from other ventures. IMHO any entry .26-.28 is safe.6months would be a good hold.
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Looks to me like a good solid dollar ,could take a year.However,this stock could change rapidly on good or bad rumors.I am hopeful for a bad rumor so I can get back in.
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MUSTANG..I will be buying again soon.VFIN has little if any debt,a good management team in place.This is not your average OTCBB stock.It actually reports good numbers. I will change my bid upwards this evening. LOL if your still buying. Volume is poor right now, but that is going to change.I Know, I basicly repeated your original post!!
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This stock is making me good money!!! I got back in with a average of .325 [ cst av ]including comm.I am thinking we see the comp. every day.VFIN is also a MM along with a whole host of other profitable enterprises.A BIG SHOT on Wall Street sure likes it.I don't think I can mention his name becouse I am a subscriber.
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I told you Bro.... I have made a nice Chunk of change so far . I've been out of town so I have been able to respond.I think this one with some more volume might just run for a while
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I have a very strong report on this stock from a highly respected Wall Street pro...the way I read my agreement it looks like I could jeopardize my standing as a amateur if I reveal his name. Do you have the same report?
also,,, I respect Wallace's comment that this is a good company!! He did mention Greed though.
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..I bought more at .341,,,,, level two at the moment .33 on bid... however apex streamer shows .30 .....sure would like to buy at .30 but nobody can.Sometimes the MM will send out info that is not accurate.Also...I hope you guys know that VFIN is a MM......
EXUSE my enthusiasm but I really like this stock ....GO VFIN!!!!!!!
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Watch for spike in volume mon.- -wed. Money on the big boards moving around in a direction that shows restlessness....Tons of money moving sideways ,some might come down here and give us a visit. Wallace, I would appreciate a shout on here when and if you buy back in. If you want to give us an opinion it would be appreciated.
I know some people make some bucks gambling in the pinks,however most don't...I sure would like to see some of that money show up here...Rather than being thrown away on pimped pump schemes.
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We will find out if this stock has the right stuff in the next few days...the doom sayers are running around like chickens with they're heads chopped off,,within the media. Screaming interest rate's are going to the moon. Stock crash coming,,some will actually believe this nonsense??
Remember the weak and ignorant are always looking for any excuse to quit..
myself I look at this as a buying oppertunity.
people know the US markets are the best game around.
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mustang...any spark and this thing might catch fire.....blocks building on the level two's.... I am no pro but it looks good to me...Also low vol. in the past this is the way it set's up before a run...the good thing about this stock is it stays close to the high's of the previous run....anyone thinking about this stock due your own DD also keep in mind, of current market forces at work, at this time..
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