sorry but I don't have anything new yet today! I do have several calls in to the company and when I get a return call I will update the news here! On a good note the volume was very low today and lets hope that that means the MMs are concidering covering before the 10% share dividend coming up! Time is getting short for any movement before the split!
posted
The usual rick, I didn't buy it, and I saw it go down to .0075, didn't pay much attention after that. Was a nice move though, I hope someone who follows the bottom thread got in on it.
quote:Originally posted by rickpic: Sorry I didn't see your post and I hope you bought this this am!
Rick
Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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Ric, Do you think this bird is going to fly soon? Alot of vol. today so far.
Posts: 132 | From: JACKSON,TN,USA | Registered: Jun 2003
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I think we will see something happen here by next monday, because the last minute buyers and with any hope a PR of a letter of intent to buy a NE Hard Money Broker. Its a wait and see game. As far as the volume is concerned I think Its being shorted, because I can't think of one reason for anyone to sell this stock at a loss this close to a 10% dividend. It just wouldn't make any sense. Its still a stronge buy at .0002 as far as Im concerned! look at it this way! If you buy 10 million at .0002 and wait out the 10% dividend and then had to sell at .0002 you could hold 1 million shares for free! If you got back .0003 after the split, you would be up 50% and still have 1 million free shares! Seems like a no brainer at .0002, doesn't it? Rick
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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Rickpic I was thinking on buying more shares, but was curious how many you have in your arsenal. I have a 30 count, and debating on getting mo. I'm kinda still hopin for that .0001, but your right that probably won't happen. LOVIN THE VOLUME BABY!!! Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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Im still holding 43.5 million , but am concidering adding a quick 100 million to that this week! If for no other reason than to get the 10 million free shares! Rick
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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That would ROCK! Hope you can get it at .0002 or maybe .0001 if it can get there. Good Luck I'll be tryin too.
Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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I just put that stronge buy rec out all over the web and I am well read, so i would guess that .0001 wont be happening! I would however be looking at 200 million more at .0001 though! This is a bone Im throwing out there, to those who read what I post as a token! I still have an average of .0003906 and wont sell any part of that for less than .0005. if I buy 100 million more @.0002 I would however be looking for an out with that @.0003 after the split! The way I see it someone is gonna buy these shares for a profit @.0002 so It may a well be those who follow my posts! Good Luck Rick
PS as you can all see I have nothing to gain from suggesting a buy at .0002 and a sell at .0003 at this time!
[This message has been edited by rickpic (edited August 23, 2004).]
[This message has been edited by rickpic (edited August 23, 2004).]
posted
Prime Rate Investors Inc. $200,000 Mortgage Placement Stowe/Burlington, VT, Forward Split Set For Sept. 1, 2004 Business Wire - August 24, 2004 08:00
CORAL GABLES, Fla., Aug 24, 2004 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (PRRM) (Pink Sheets:PRRM) announces that it is funding a $200,000 Mortgage in Stowe, Vt. through its subsidiary, Tampa Bay Mortgage Solutions, Inc. Richard Astrom President said: "We are extremely enthusiastic about the Stowe/Burlington area and we are in discussions to open a Loan Production Office in Stowe/Burlington, Vt. There does not appear to be any competition in Stowe for our hard-money equity loan product and the real estate market is very strong due to the Stowe Mountain Ski Resort's $250,000,000 expansion." The mortgage placement will earn 18 percent interest for the company. Prime Rate typically lends thru its subsidiary, Tampa Bay Mortgage Solutions, Inc. and lends 70 percent of the value of property at rates of 15 percent per year, plus points. Typically, term is 1 to 2 years. The company specialty is acquisition financing, construction loans, and lines of credit for builders and investors. The specialty of the company is "hassle free hard equity loans."
A forward stock split (owners of 10 shares get 1 share extra) has been approved by the board of directors and will be effective September 1, 2004.
PRRM has retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S. Prime Rate is looking for a "hard money equity" mortgage lender in the Northeast that also lends with a maximum 70% loan to value.
The mission of the company is to build a diverse portfolio of debt and equity instruments that will provide the shareholders with both current income and capital appreciation. The company has a web site: http://www.prrm.us
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic and business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE: Prime Rate Investors, Inc.
Prime Rate Investors, Inc., Coral Gables Richard Astrom, 786-236-6434, Fax 305-666-3994 http://www.prrm.us E-mail: nres74@hotmail.com
posted
Opening a NE office is one of the most positive moves yet! Its cheaper than aquiring an existing Hard money lender. Astrom does say "in negotiations" so he may be looking at a lease at this time! This little company seems to be doing all the right things and @.0002 hmm I think it may be time for me to add in a very big way to my own holding here!
Where do you see this as a 3-4 month investment going? Maybe 0.01 in the next year? I have a lot of shares and thinking I will just lay off watching everyday and look for a long term.
Where do you see this as a 3-4 month investment going? Maybe 0.01 in the next year? I have a lot of shares and thinking I will just lay off watching everyday and look for a long term.
I see great long term and short term potential here. The profit margin in Hard Money Motgages is huge and if Astrom keeps growing his base of operations, the revenue will continue to grow with it! 18% interest and 4-7 points at closing, plus early out penalties is all a win/win! Not hard to see a profit from .0002 investment here!
posted
You can call this a rumor, because I have no way to confirm it but, here goes!
I am in comunication with a DC Hard Money broker who says that they are making an attempt to form a relationship with PRRM, because they have loan request in the Florida area that they can not handle at this time and would like to pass on the leads to PRRM. As I said its just a rumor, but could be a good one!
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A 9 count just went through at .0002 now if the other 61 will go through Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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Had ta cancel the partial order now holding a 60 count and looking forward to more PR's !! Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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Just spoke with Richard Astrom and the O/S is!
1.5 billion as of the close yesterday! The Dependiture is still not done, but it apears as thought it is close to completion! A PR will be issued upon completion per my request!
" Anyone who buys this stock at .0002 will see a profit within 1 month"
Once again he took the time to answer every question, and did not evade any question I asked! The biggest question being " will there be a R/S any time in the near future" answer " No absolutly not, there will be no R/S anytime in the forseable future"
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NICE on ANTI-R/S! Lookin forward to that PR on the 504 completion! Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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ric what is the last day to buy to be eligible for 10/1 split... would this be sept.1st.. thanks rivercity
Posts: 58 | From: austin,tx. u.s.a. | Registered: Apr 2004
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No its the 30th I believe because thats the day that nasdaq shows for F/S I posted the nasdaq listing somewhere back in these posts! Rick
Posts: 3346 | From: Leominster,MA,US | Registered: Jul 2003
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thanks ric, i to was taken down a notch in vrmd,and you are right,you can't stop with 1 bad play. mark it down to experience,learn from it,go find another good play. thanks again.....rivercity
Posts: 58 | From: austin,tx. u.s.a. | Registered: Apr 2004
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I see a major PR coming within the next 2 weeks! Call it a very stronge feeling! Remember the PR about the company being hired to do an aquisition in the NE area! Vermont is in the NE area!
quote:Originally posted by rickpic: I see a major PR coming within the next 2 weeks! Call it a very stronge feeling! Remember the PR about the company being hired to do an aquisition in the NE area! Vermont is in the NE area!
Rick
Posts: 829 | From: people's republic of cambridge | Registered: Jun 2004
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. I was looking for something like this.
