Heritage Capital Credit Corporation First Quarter Update.WILMINGTON, Del. -- Heritage Capital Credit Corporation (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :HCPC HCPC Harris County Psychiatric Center (University of Texas Health Science Center at Houston) HCPC Healthcare Common Procedure Coding HCPC Hancock County Planning Commission (Maine) ) is pleased to provide shareholders with a summary update regarding the BCLOC Trust Pool 2007-1. * Heritage, through its subsidiary Independent Capital Credit Corporation, is making substantial progress toward completing the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. necessary to pre-close commercial loans for delivery to the lender, BCLOC Trust Pool 2007-1, which is expected to fund the loans, once they are all pre-closed in the attorney's escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. title companies. BCLOC Trust Pool 2007-1 is a special purpose entity which currently expects to make in excess of $700 million of commercial asset backed loans. * Concurrently, the BCLOC Trust Pool 2007-1 sponsor is in talks with an investment banking firm, which is expecting to finalize the due diligence on the pool of loan documents to be delivered to attorney's title escrow companies for pre-closing, before the BCLOC Trust issues securities to fund the Pool. * Neither Heritage nor its subsidiary Independent Capital Credit Corporation makes loans. Independent Capital Credit Corporation originates loan documents and pre-closes loans for the BCLOC Trust. The sponsor of the BCLOC Trust is the largest shareholder of Heritage. * Heritage has narrowed its losses to $690,871 in 2006 from $1,413,384 in 2005, because the costs related to four years of research and development of its proprietary product has been completed. Heritage's first quarter financial report is expected to reflect a true quarterly cost of doing business. * Heritage plans to submit an application to list on the OTCQX. The OTCQX is a new market tier offered by Pink Sheets, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control that provides a premier trading, quotation and disclosure venue for securities of the highest quality companies in the U.S. OTC markets. The company is accepting commercial property loan applications. For more information, visit www.independentcapitalcreditcorp.com. About Heritage Capital Credit Corporation Heritage is a holding company, which through its subsidiary, Independent Capital Credit Corporation is engaged in the commercial property lending business as well as in other 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. that are in large part associated with the real estate industry. Visit our website: www.HeritageCapitalCreditCorp.com. 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 provides a 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. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . 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 and consummate the proposed acquisition, actual results may differ materially from the expectations expressed in the forward-looking statements. |
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