December 1, 2022

MCVT PROFILE

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OUR NEW PROFILE IS:   (NASDAQ: MCVT)

 

Pre-tax earnings from lending operations increased in the second quarter to $734,250 from $425,393 in the prior year period, a 73% increase. In the six-month period, pre-tax earnings reached $1,188,638 million compared to $438,377 in the prior year period, a 171% increase

Investment income from lending operations increased 83% to $1,236,505 in the three-month period ended June 30, 2022, from $675,549 in the prior year period. For the six-month period, investment income was $2,236,711 compared to $1,222,391 in the prior year period, an 83% increase

 

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Hello Everyone,

I hope that you were able to catch our last profile.  It was one of the stronger movers that we have seen so far this year.

The stock gapped up and opened at $10.30 and yesterday it hit $14.75 for a 43% move in just a few sessions.

We have a new profile that we want you to turn your attention to immediately.

Pull up MCVT right now before the open.

As borrowers continue seeking alternative financing sources, MCVT, a short-term nonbank lending and specialty finance company could be answering this demand with its specialty financing solutions

Founded in January 2006, Mill City specialized in providing bespoke short-term lending solutions to public and private companies facing short-term liquidity issues.

Mill City ordinarily provides nonbank lending and specialty finance to companies and individuals with both collateral and a short-term source of liquidity anticipated to be available by the time the loan matures. The principal specialty finance solutions the company provides are high-interest, short-term lending arrangements.

The loans the company provides typically have maturities of nine months or less and involve a pledge of collateral or, in the case of loans made to companies, personal guarantees by the borrower’s principals.

Since commencing short-term nonbank lending operations in January 2020, both the average loan size and weighted interest rate have increased year over year.

Specialty finance firms make it easier for consumers and small to mid-size businesses to get loans they may find difficult to obtain from traditional banks.

They have easily won the hearts of some customers who were yearning to bypass long bureaucratic processes in favor of more straightforward procedures like completing loan applications and payments digitally with no initial fees and low-interest rates.

Thanks to this financing option, people who do not qualify for a traditional bank loan because of bad credit history are now turning to the alternative lending market for their capital needs.

Unlike some other players in the industry, Mill City specializes in investments in debt and equity securities of public and private companies looking to fund operations, whether for starting up, acquiring another company or fuelling growth.

Over the years, Mill City notes that it has provided non-bank lending and specialty finance to companies and individuals on both a secured and unsecured basis. The primary specialty finance solutions the company offers are high-interest, short-term lending arrangements.

Designed for individuals, business owners, real estate owners, house redevelopers and small business owners, the company’s lending arrangements occasionally involve the company obtaining collateral as security for the borrower’s repayment of funds.

The loans the company provides typically have maturities ranging from nine to 12 months and may involve a pledge of collateral or, in the case of loans made to companies, personal guarantees by the borrower’s principals.

Nature Of Lending Operations

  • Non-bank lending and specialty finance
  • Asset-backed loans
  • Settled claim purchases
  • Tax anticipation loans
  • Real estate bridge loans
  • Litigation finance
  • Public market companies
  • Title loans
  • Opportunistic acquisitions
  • Mortgages

Since commencing non-bank lending operations in January 2020, its average loan size and weighted rate trajectory have increased year over year. This change resulted from the company’s focus on making higher-dollar loans that usually have additional features such as the quality of the borrower and collateral levels.

Key Investment Considerations

  • Management has experience in entrepreneurial ventures and finance.
  • The company is not subject to many of the regulatory limitations that govern other traditional lenders or institutional competitors.
  • Mill City runs on lean operating costs, which allows for greater income statement leverage.
  • Management continually focuses on moving the blended portfolio returns up and to the right in the context of proper risk mitigation.
  • The company takes advantage of inorganic growth opportunities in the market through complementary and accretive acquisitions.

For a bespoke lender that provides custom and tailored lending to meet a customer’s needs, Mill City could have an advantage over competitors, with a significant driver being that it is not subject to many of the regulatory limitations that govern traditional lenders or institutional competitors.

Mill City Ventures III, Ltd. Provides 2nd Quarter Fiscal 2022 Guidance Revenue Increased 83% Year Over Year and 83% for 6-Month Period

MINNEAPOLIS, MN / ACCESSWIRE / August 10, 2022 / Mill City Ventures III, Ltd. (NASDAQ:MCVT), a leading non-bank lender and specialty finance company is pleased to provide guidance for the second quarter of the 2022 fiscal year.

For the second quarter ending June 30, 2022, the company expects revenue to exceed approximately $1.2M, an estimated 83% year-over-year increase compared to approximately $675,000 for second quarter of fiscal 2021. Six-month revenue is expected to exceed approximately $2.2M compared to approximately $1.2M for the same period of fiscal 2021, also representing an 83% increase.

Commenting on the guidance, Chief Executive Douglas M. Polinsky said, “The demand for loans from our borrowers has been vibrant and we continue to work diligently for the benefit of our borrowers and stockholders.”

2Q 2022 Highlights

  • Investment income from lending operations increased 83% to $1,236,505 in the three-month period ended June 30, 2022, from $675,549 in the prior year period. For the six-month period, investment income was $2,236,711 compared to $1,222,391 in the prior year period, an 83% increase.
  • Pre-tax earnings from lending operations increased in the second quarter to $734,250 from $425,393 in the prior year period, a 73% increase. In the six-month period, pre-tax earnings reached $1,188,638 million compared to $438,377 in the prior year period, a 171% increase.
  • Shareholder equity increased to $14,426,607 million from $13,414,049 million at December 31, 2021
  • At June 30, 2022, the Company had $629,572 in cash, compared with $1,936,148 at December 31, 2021.

Commenting on the quarter, Chief Executive Officer Douglas M. Polinsky said, “The second quarter of 2022 was our 10th record quarter for income and earnings from our lending operations as we continue to experience strong demand for our loan products. We’re investing in our business as we seek to meet the demand so while our expenses were higher in the quarter, we’re able to maintain solid margins. Our loan portfolio generates income with an average rate on the loans in excess of 20%, a testament to the level of demand and our ability to structure the loans with favorable terms while investing in the growth of our business. We continue to show a zero-loss ratio on our loan portfolio.”

Mill City Provides Short-Term Funding to Facilitate Merger of Podcast Platforms

MINNEAPOLIS, MN / ACCESSWIRE / October 18, 2022 / Mill City Ventures III, Ltd. (“Mill City” or the “Company”) (NASDAQ:MCVT) announced today it has provided $2.225 million of short-term debt financing to Liberated Syndication Inc. (“Libsyn”), a leading “Podcasting As A Service” platform, to facilitate Libsyn’s recently announced acquisition of German podcast company Julep Media GmbH (“Julep”).

Founded in 2004, Libsyn is one of the first podcast hosting companies in the industry and today hosts over 75,000 shows and delivers over 6 billion downloads a year to listeners around the world. Libsyn accelerated its effort into podcast advertising in 2021 through a merger with AdvertiseCast LLC. Libsyn has indicated that with the combination of Julep, the combined companies will connect over 3,000 creators to over 750 advertisers who are looking to tap into the fast-growing podcast media market. In addition, Libsyn indicates that per the PwC / IAB Podcast Advertising Revenue Report, podcast advertising revenues are forecasted to exceed $2B in 2022 and almost triple to over $4B by 2024.

Brad Tirpak, Libsyn’s CEO, said, “Libsyn is thrilled to welcome Julep to our growing platform of advertising solutions for creators. Germany is one of the largest podcast markets in Europe, and Julep provides Libsyn with the immediate scale to become a leading force in podcast monetization in both Germany and the broader European market. We are grateful for our partnership with Mill City in helping us complete this transaction in a timely and efficient manner that delivered value to both sides.”

Mill City Chief Financial Officer, Joseph Geraci, said, “We have noted in the past that the market for our type of lending is robust and underserved by larger financial institutions. Our ability to create unique and tailored financing solutions allows us to service many different kinds of financial needs. Providing funding to meet a short-term liquidity need in furtherance of the closing of the merger of two companies is just one more example of where we can create solid results for our investors subject to well-managed risks.”

The debt financing matures in 180 days.

NEWS

MANAGEMENT

Douglas M. Polinsky is our Chief Executive Officer. He co-founded the Company in January 2006 and since that time has been the Chairman, Chief Executive Officer and President of the Company. Since 1994, Mr. Polinsky has been the Chief Executive Officer of Great North Capital Consultants, Inc., a financial advisory company he founded. Great North Capital Consultants advises corporate clients on matters regarding corporate and governance structures, public company acquisitions of private companies and other transaction-related matters, and also makes direct investments into public and private companies. Since 2007, Mr. Polinsky has been an independent director of Wizzard Software Corporation, a Pennsylvania-based company specializing in speech recognition technology. Mr. Polinsky earned a Bachelor of Science degree in hotel administration at the University of Nevada at Las Vegas.

Joseph A. Geraci is our Chief Financial Officer. He co-founded the Company in January 2006 and has been a director and the Chief Financial Officer of the Company since that time. Since February 2002 through the present time, Mr. Geraci has been managing member of Isles Capital, LLC, an advisory and consulting firm that assists small businesses, both public and private, in business development. In March 2005, Mr. Geraci also became the managing member of Mill City Advisors, LLC, the general partner of Mill City Ventures, LP, and Mill City Ventures II. LP, each a Minnesota limited partnership that invested directly into both private and public companies. From January 2005 until August 2005, Mr. Geraci served as the Director of Finance for Gelstat Corporation, a purveyor of homeopathic remedies, based in Bloomington, Minnesota. Mr. Geraci provided investment advice to clients as a stockbroker and Vice President of Oak Ridge Financial Services, Inc., from June 2000 to December 2004. While at Oak Ridge Financial Services, Mr. Geraci’s business focused on structuring and negotiating debt and equity private placements with both private and publicly held companies. Currently, Mr. Geraci is a managing principal and active investor in and through a number of private and special equities vehicles. In this regard, Mr. Geraci actively participates in the evaluation, negotiation and structuring of all investments made by these funds, as well as coordinating and executing exit strategies for such investments.

Independent Directors

Laurence S. Zipkin is one of our independent outside directors. He is nationally recognized for his expertise in the gaming industry, restaurants, and emerging small growth companies. From 1996 to 2007, Mr. Zipkin owned Oakridge Financial Services Group (formally Equity Securities). The firm received national recognition for being the underwriter for the first native American public company, Grand Casino. After selling his brokerage firm he was self-employed engaging in various consulting activities operating two restaurant properties and purchased distressed real estate. In 2014, he began an association with The Tailwind Group whose primary business is student housing on college campuses. The Tailwind Group has twenty-two properties in the Midwest and Southern United States. He is a director of Foxo Technologies, a private company in the life insurance field who specializes in unique testing for the insured. Mr. Zipkin attended the University of Pennsylvania Wharton School of Finance.

Lyle Berman. Since August 2015 Mr. Berman has served on the Board of Directors of Golden Entertainment, Inc. He also provides consulting services to the Chief Executive Officer of Golden. Previously, he was the Chairman of the Board and Chief Executive Officer of Lakes Entertainment, Inc. (“Lakes”, the predecessor of Golden) since June 1998 and Chairman of the Board of Directors of Grand Casinos, Inc. (the predecessor to Lakes) from October 1991 through December 1998.

Mr. Berman has also served as the Executive Chairman of the Board of WPT Enterprises, Inc. (now known as Emerald Oil, Inc.) from its inception in February 2002 until July 2013. Mr. Berman was also Chairman of the Board of PokerTek, Inc. from January 2005 until October 2011. Mr. Berman also served as Chief Executive Officer of Rainforest Café, Inc. from February 1993 until December 2000.

We believe Mr. Berman’s qualifications to sit on our Board of Directors include: his over 30 years in retail, gaming and many other industries; his extensive executive experience running large national companies, and his particular strengths in strategic operations; and his extensive public company experience.

Howard Liszt served as Chief Executive Officer of Campbell Mithun, a national marketing communications agency he joined in 1976, until 2001. He currently serves on the board of the following companies: Eggland’s Best, a branded egg company; Land O’ Lakes, the second largest cooperative in the United States; OCO Holdings, an independent marketing communications company; and Wireless Ronin, a marketing technology company. Mr. Liszt holds a Bachelor of Arts in Journalism and Marketing and a Masters of Science in Marketing from the University of Minnesota, Minneapolis

Sincerely,

 

Sincerely,

The Viral Stocks Team

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