Beneficial Holdings Third Quarter Financials
Investor Conference Call
MONTVALE, NJ--(Marketwired - Oct 15, 2013) - Beneficial
Holdings, Inc. (OTC Pink: BFHJ) today announced the results of
operations for the third quarter and nine months ended September
30, 2013.
The Company recorded $89,419 of revenue for the three months
ended September 30, 2013. The net loss for the period was
$111,459 (a loss of $0.01 per share after considering the Company's
previously announced -- but still pending -- 1:5,000 reverse split
of its common shares).
At September 30, 2013 there were 820,000 common shares
outstanding and the Company's Series B Preferred Stock was
convertible into 2,000,000 common shares (both after considering
the effects of the pending reverse split). The weighted
average number of fully diluted common shares for the three months
ended September 30, 2013 was 22,081,633. All such share counts
are after considering the effects of the pending reverse
split.
For the nine months ended September 30,2013, the Company
recorded $209,419 of revenue and a net loss for the nine-month
period of $322,465 (a loss of $0.01 per share after
considering the aforementioned pending reverse split). The
weighted average number of fully-diluted common shares for the nine
months ended September 30, 2013 was 22,081,633 after considering
the effects of the pending reverse split.
All such reported results and share counts are
unaudited. Operating results for the comparable periods in
2012 are not relevant due to the previously-announced
discontinuance of certain operations and changes in accounting
methods. There were no common shares or equity-related
securities issued by the Company during the quarter or the nine
months ended September 30, 2013 other than the issuance of $150,000
of Series A Convertible Notes as per the Company's
previously-announced plans to privately place up to $500,000 of
Series A Convertible Notes (convertible at $1.43 per common share
post the pending reverse split) and with attached warrants (each
warrant allowing a holder to acquire a common share at $2.00 per
share post the pending reverse split). Additionally, no member
of management or their beneficiaries has engaged in any sale or
purchase of the Company's common shares or equity-related
securities during the nine months ended September 30, 2013.
Revenues for the three- and nine-month periods were generated
from the Company's asset management and development
assignments.
These results do not include the results of operations of the
two previously-announced pending acquisitions: Green RG and Green
Econometrics. Through the nine months ended September 30,
2013, those operations recorded revenues of approximately $1.7
million. Such amounts are unaudited. Beneficial Holdings
continues its due diligence on these two proposed acquisitions.
Summing up year-to-date activity, Gregory N. Senkevitch,
Beneficial's Chairman, President and CEO said: "Our Project
Solutions business is on track with expectations. The Company
recorded revenue from our co-development assignment at 1355 First
Avenue and from our asset management engagements."
Senkevitch also announced the Company's first ever investor
call: "Our recent corporate announcements are significant. We
hope that the call will provide an interactive forum that will
allow for the discussion of the Company's strategy and communicate
management's expectations."
The investor call will start promptly at 10:00 AM EDT on
Wednesday October 23, 2013. The toll free dial in number for
the US and Canada is (888) 576-4398. The toll number for
international calls is (719) 325-2429. The passcode for both
is 3963276 when prompted. It is important to allow at 15
minutes prior to the call for registration. Investor questions
will be answered as time permits.
"We are proceeding deliberately with our plan to build a company
that offers a unique portfolio of asset management, development and
energy management services to owners and users of buildings and
infrastructure," according to Senkevitch. "We are building a
company that combines experienced, principal based talent with
cutting edge technology and capital based solutions. We
believe that his basket of services goes well beyond those provided
by traditional real estate service providers. We will target
unique value added situations where we will be able to achieve
enhanced revenue streams from multiple engagements with repeat
clients and customers. We are 'Creating Value from Market
Knowledge' every day," Senkevitch concluded.
ABOUT BENEFICIAL HOLDINGS, INC. Beneficial Holdings, Inc. is a
holding company currently operating in the real estate services
sector. The Company is seeking to acquire and invest in
operating service-oriented businesses in the real estate, financial
services and energy management sectors. For more information
on the Company please visit our web site at
www.beneficial-holdings.net.
FORWARD-LOOKING STATEMENTS This news release may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. As a general matter, forward-looking statements
reflect our current expectations and projections relating to our
financial condition, results of operations, plans, objectives,
future performance and business. These statements may be identified
by the use of forward-looking terminology such as "may", "will",
"expects", "plans", "estimates", "anticipates", "projects",
"intends", "believes", "outlook" and similar expressions.
The forward-looking statements contained in this news release
are based upon our historical performance, current plans,
estimates, expectations and other factors we believe are
appropriate under the circumstances. The inclusion of this
forward-looking information is inherently subject to risks and
uncertainties, many of which cannot be predicted with accuracy and
some of which might not even be anticipated. Future events and
actual results, financial and otherwise, may differ materially from
the results discussed in the forward-looking
statements. Statements regarding the following subjects, among
others, may be forward-looking: our business and investment
strategy; our projected operating results; estimates relating to
our ability to make distributions to our stockholders in the future
and economic trends and economic recoveries.
All information in this release is as of October 15,
2013. The Company does not undertake a duty to update
forward-looking statements, including its projected operating
results.
FOR: BENEFICIAL HOLDINGS, INC. (OTC Pink: BFHJ) Gregory A.
McAndrews (310) 804-7037 greg@gregmcandrews.com
Beneficial (CE) (USOTC:BFHJ)
Historical Stock Chart
From Jan 2025 to Mar 2025
Beneficial (CE) (USOTC:BFHJ)
Historical Stock Chart
From Feb 2024 to Mar 2025
