| Business Summary | | Equitex,
Inc.
is
a
holding
company
operating
through
its
wholly
owned
subsidiaries,
First
TeleServices
Corp.
(FTC)
and
Meridian
Services,
Inc.,
and
its
majority-owned
subsidiaries
nMortgage
and
Triumph
Sports,
Inc.
In
addition,
the
Company
also
owns
an
interest
in
VP
Sports.
nMortgage
is
a
business-to-consumer
retail
Internet
mortgage
banking
company.
Meridian
Services's
business
is
to
provide
the
back-office
support
to
help
originate,
fully
process,
underwrite
and
close
residential
mortgages.
FTC's
business
plan
calls
for
it
to
perform
as
a
consumer
finance
company,
offering
an
array
of
financial
products
and
services
to
the
sub-prime
market. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | EQTX
is
a
holding
company
that
operates
through
its
wholly
owned
subsidiaries,
First
TeleServices
Corp.
and
Meridian
Services,
Inc.,
and
its
majority-owned
subsidiaries,
nMortgage
and
Triumph
Sports,
Inc.
For
the
three
months
ended
3/01,
revenues
fell
46%
to
$771
thousand.
Net
loss
applicable
to
Common
rose
28%
to
$2.5
million.
Revenues
reflect
the
absence
of
secondary
marketing
revenues.
Loss
reflects
the
inclusion
of
accretion
of
redemption
value
on
preferred. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
937;
after
tax
earnings
were
-1,762. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | |
| Position | Henry Fong, 65 | Pres,
Treasurer, Principal Exec., Financial, Accounting Officer, Director | Thomas Olson, 35 | Sec. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|