| Business Summary | | Westmark
Group
Holdings,
Inc.,
until
July
22,
2000,
was
engaged
in
the
business
of
purchasing
and
selling
residential
mortgage
loans
through
its
wholly
owned
subsidiary,
Westmark
Mortgage
Corporation.
The
Company
dealt
primarily
in
non-conforming
loans
(generally
those
borrowers
outside
the
conforming
guidelines).
In
July
2000,
the
Company
suspended
operations
of
Westmark
Mortgage.
Those
operations
were
its
sole
operations.
The
Company's
value
as
a
shell,
if
any,
is
limited.
Before
ceasing
operations,
the
Company
attempted
to
secure
financing
that
would
have
allowed
it
to
continue
its
business,
but
was
unsuccessful. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Westmark
group
Holdings,
currently
has
no
operations
or
sources
of
revenue.
The
Company's
only
business
strategy
is
to
acquire
or
merge
with
an
operaing
entity.
For
the
three
months
ended
3/31/00,
revenues
increased
23%
to
$5.8
million.
Net
loss
totalled
$1.9
million
vs.
an
income
of
$91
thousand.
Revenues
reflect
increases
in
the
sale
of
loans.
Net
loss
reflects
increased
direct
loan
fees,
interest
expense
and
general
and
administrative
fees. | More
from
Market Guide: Significant
Developments |
| Officers | | | FY1999 Pay | |
| Dori Carpinello, 49 Chairman,
Pres, CEO | -- | Payton Story, III, 53 Director
and Pres of Westmark Mortgage Corp. | $248K | Dollar amounts are as of 31-Dec-1999 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|