America's Senior ``AMSE'' Acquires Wholesale Lender, Adds $125,000,000 to Annual Loan Production.Business Editors JUPITER, Fla.--(BUSINESS WIRE)--Jan. 31, 2002 America's Senior Financial Services (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :AMSE AMSE American Museum of Science & Energy (Tennessee) AMSE Aircraft Maintenance Support Equipment (Canadian Forces) AMSE Advanced Mass Sender Enterprise ) announced previously (November 5, 2001) that it had executed a LOI LOI Letter of Indemnity (international trade and carriage business) LOI Letter Of Intent LOI Loss On Ignition LOI Letter of Inquiry LOI Lack Of Information LOI Lack of Interest LOI Letter of Invitation LOI List Of Items to acquire the assets and key employees of a Tampa based wholesale lender, DuPont Mortgage, currently serving the mortgage broker and correspondent lender community throughout Florida and Georgia. AMSE expects that on a proforma basis for 2002 this additional business platform should add $125,000,000 to AMSE's gross loan originations, to almost $500,000,000. For year ended 12/31/2002 on a proforma basis, the platform should contribute approximately $400,000 in additional profits. The transaction closed yesterday. Joseph Telese will now join AMSE's Jupiter Mortgage Corporation and will serve as the wholesale platform's senior manager. With this transaction completed, AMSE now operates four business units all directly managed by the Company's Jupiter Mortgage subsidiary. Jupiter (http://www.jupiter-mortgage.com) will be responsible for the traditional forward mortgage business, the reverse mortgage business, the "B to B' banking platform, and the wholesale platform. AMSE feels strongly that this evenhanded e·ven·hand·ed adj. Showing no partiality; fair. e  ven·hand approach to implementing its business model should create greater stability in a questionable economic environment and should contribute to increased shareholder value. Recent press releases regarding the Company's business development can be viewed at http://www.siliconinvestor.com/research/news.gsp?s=AMSE. This release contains forward-looking statements including without limitation statements relating to the company's plans, expectations, intentions, and adequate resources. These statements are made pursuant to the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Please refer to the company's 10K and 10Q filings for more disclosure about AMSE's results and the risks that could be associated with an investment in the company's common stock. To contact Investor Relations Investor relations The process by which the corporation communicates with its investors. , write to info@americassenior.com |
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