خبر بتاريخ 18-1 ابي رايكم
Press Release Source: Heritage Capital Credit Corporation
Heritage Capital Credit Corporation Posts Fourth Quarter Financials
Friday January 18, 2:22 pm ET
- Losses increase 2% over 4th Quarter 2006
WILMINGTON, Del., Jan. 18 /PRNewswire-FirstCall/ -- Heritage Capital Credit Corporation (Pink Sheets: HCPC - News) announced today that the Company has published its Fourth Quarter Financial Statement on
http://www.pinksheets.com and on its website,
http://www.heritagecapitalcreditcorp.com.
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The fourth quarter 2007 Financial Statement reflects a fourth quarter net loss of $246,546, which represents $5,367 more than the fourth quarter loss of $237,159 at fourth quarter 2006.
Our cost of revenue decreased in 2007 to $177,264 from $184,897 in 2006. This cost decreased due to a reduced management fee paid to a related company, whose services we use from time to time to review and analyze applicants' requests for funding as well as for general corporate purposes.
Expenses on an ongoing basis increased to $58,117 in the fourth quarter 2007 as compared with $47,446 spent in the fourth quarter 2006. This increase is primarily due to increased legal fees to support pending transactions.
About Heritage Capital Credit Corporation
The Heritage business model, which is implemented through its subsidiary, Independent Capital Credit Corporation, is to arrange financing for real property and commercial revenue producing assets. To date, the Company has not delivered any projects for funding.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the company, which include the ability of the company to implement its business plans, actual results may differ materially from the expectations expressed in the forward-looking statements.
Contact:
Heritage Capital Credit Corporation
Richard Razzeca, VP, Tel: 302-778-4222
Email:
info@heritagecapitalcreditcorp.com