PRRM Prime Rate Invs Inc (OTHER OTC) 9/17/2004 10:45:32 AM ET
Realtime Quote $0.00 UNCH UNCH Refresh Quote
Press Release for Prime Rate Invs Inc
Prime Rate Investors, Inc. Outstanding Stock Statement
9/15/2004 8:56:00 AM
CORAL GABLES, Fla., Sep 15, 2004 (BUSINESS WIRE) -- Prime Rate Investors, Inc. (Pink Sheets:PRRM) announces the number of shares outstanding as of September 13, 2004.
Free trading shares not restricted 5,218,991,476; Restricted shares owned by management and shares issued in forward split: 9,400,226,802; Authorized shares 20,000,000,000.
Recently the company has: funded the Royal Arkansas Hotel and Suites; retained Windsor Capital, located in New York City, to find a merger candidate in the Northeast U.S.; funded a $200,000 Mortgage in Stowe, Vt.; the company is in discussions to acquire a mortgage company in the Stowe-Burlington, Vt area. The company is taking applications in Florida for companies that have had hurricane related disasters and need quick mortgage funding.
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".
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
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 or Fax 305/666-3994
www.prrm.usE-mail: nres74@hotmail.com
Customize your Business Wire news & multimedia to match your needs.
Get breaking news from companies and organizations worldwide.
Logon for FREE today at
www.BusinessWire.com.
Copyright (C) 2004 Business Wire. All rights reserved.
Copyright © 1998-2004 MarketWatch.com Inc.
Historical, current end-of-day data, and Splits data provided by FT Interactive Data.
Intraday data is realtime. All times are ET.
Intraday data provided by ComStock, a division of Interactive Data Corp, and subject to terms of use.
WorldScope/IBES data provided by Thomson Financial Solutions.
Earnings data provided by WallStreetHorizon.com
I beleive that the O/S is very low for the current pps. JMHO. I currently am holding.