| Business Summary | | Westsphere
Asset
Corporation,
Inc.
is
engaged
in
the
non-conventional
banking
industry.
The
Company
seeks
opportunities
available
through
acquisitions
of
equity
positions
within
operating
companies,
or
the
establishment
of
wholly
owned
subsidiary
companies
that
would
assist
in
the
asset
growth
of
Westsphere.
Non-conventional
banking
business
is
defined
by
the
Company
as
business-related
activities
that
would
be
normally
associated
in
Canada
with
a
registered
chartered
bank
or
bank-affiliated
financial
institution,
but
is
privately
owned
and
operated
and
non-bank
affiliated.
The
Company
has
no
ongoing
business
operations
other
then
acting
as
a
holding
company,
and
provides
financial
services
and
packages
such
as
leasing
packages
and
equity-based
secured
loans
and
venture
capital
to
its
subsidiaries,
Vencash
Capital
Corporation,
Westsphere
Financial
Group
Ltd.,
VC/POS/ATM
Services
Inc.
and
880487
Alberta
Ltd.,
Kan-Can
Resorts
Ltd.
and
E
Debit
International
Inc. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Westsphere
Asset
Corporation,
Inc.
is
a
holding
company,
with
subsidiaries
engaged
in
a
number
of
different
business
activities
but
focusing
mainly
on
the
non-conventional
banking
industry.
For
the
six
months
ended
6/01,
revenues
decreased
25%
to
$577
thousand.
Net
loss
totalled
$64
thousand
vs.
income
of
$19
thousand.
Revenues
reflect
decreased
product
sales.
Net
loss
suffered
from
increases
in
consulting
fees
and
travel
costs. | More
from
Market Guide: Significant
Developments |
| Officers | | Douglas
N. MacDonald,
Pres./CEO Robert
L. Robins,
Secy./Treas. | More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|