CREDIT DEPOT SELLS CONVERTIBLE MORTGAGE PARTICIPATIONS.GAINESVILLE, Ga.--(BUSINESS WIRE)--July 12, 1995--Credit Depot Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LEND) announced today that it retained Thieme Consulting, Inc., which is wholly-owned by Heiko Thieme, to consult with the Company in connection with matters relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , among other things, its capital structure, including future financings. The Company also announced that, to date, it has received $2,400,000 from the placement of Convertible Senior Mortgage Participations. The Participations are convertible into Common Stock at a conversion price of $4.00 per share and the Company can force the conversion of the Participations after one year if the market price of the Company's Common Stock then exceeds $8.00 for a 20-day period. Credit Depot Corporation is a multi-state financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. company that provides residential real estate financing to individuals unable to secure loans through conventional sources. The Company currently originates loans in Florida, Georgia, Indiana, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. , Ohio, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. , and Tennessee. These loans are collateralized by first mortgages, primarily on owner-occupied residential properties. CONTACT: Credit Depot Corporation, Gainesville Gerald F. Sullivan, 404/531-9927 |
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