| Business Summary | | Newtek
Capital,
Inc.,
through
capco
(certified
capital
company)
programs,
operates
as
a
holding
company
for
a
network
of
partner
companies
in
a
collaborative
and
coordinated
effort
to
develop
successful
businesses
in
a
number
of
existing
as
well
as
emerging,
technological
business
lines.
A
capco
is
either
a
corporation
or
a
limited
liability
company,
established
in
and
chartered
by
one
of
the
five
states
currently
with
authorizing
legislation
(Florida,
Louisiana,
Missouri,
New
York
and
Wisconsin).
Aside
from
seed
capital
provided
by
on
organizer,
a
capco
will
issue
debt
and
equity
instruments
exclusively
to
insurance
companies.
The
capcos
then
are
authorized,
under
the
respective
state
statutes,
to
make
targeted
acquisitions
of
interests
in
companies,
which
may
be
majority
owned
or
primarily
controlled
by
the
capcos
after
the
acquisition
is
consummated. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Netwek
Capital,
Inc.
provides
venture
capital
to
e-commerce
and
high-tech
startups
and
assists
in
their
planning,
marketing
and
management.
Newtek
does
business
in
Florida,
Louisiana,
New
York
and
Wisconsin.
For
the
six
months
ended
6/30/01,
revenues
totalled
$16
million,
up
from
$1.3
million.
Net
income
before
extraordinary
item
totalled
$2
million
vs.
a
loss
of
$2.6
million.
Results
reflect
an
increase
in
income
from
tax
credits
and
an
increase
in
operating
margin. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Barry Sloane, 41 Chairman,
CEO, Sec. | $300K | Jeffrey Rubin, 33 Pres,
CIO, Director | 300K | Brian Wasserman, 35 CFO,
Treasurer, Director | 300K | Dollar amounts are as of 31-Dec-2000 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
|
|