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Home > Company Index > Financial Services > Mortgage Banking & Related Services > Equitex, Inc.

Equitex, Inc.
Nasdaq (SC): EQTX
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 PROFILE
Equitex has changed its tune from the passive voice to the active voice. Formerly a business development company, its First TeleServices subsidiary markets subprime auto and mortgage loans, credit cards, and other financial services to consumers with poor credit ratings. Subsidiary Meridian Residential Group provides mortgages and mortgage management services. Equitex unit nMortgage offers mortgages in more than 20 states via its Web site, nMortgage.com. The acquisitive company also owns Triumph Sports and VP Sports Canadian both of which sell health products and sports accessories.

 COMPETITION
Citigroup Inc. (C)
Household International, Inc. (HI)
New Century Financial Corporation (NCEN)

 DEALS
Deal: Equitex Buys First Bankers Mortgage
Date Announced: 06.23.99
Value of transaction (US $Mil): 11.4
Description: Financial-services holding company acquires mortgage-services company to launch Internet financial services business for $11.4 million in stock.

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 2.80
1-Yr. Sales Growth: 100.0%

 KEY PEOPLE
• Henry Fong
    CEO

 CONTACT INFO
7315 E. Peakview Ave.
Englewood, CO 80111
US
Phone: 303-796-8940
Fax: 303-796-9762

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