Jerry Joseph & the Jackmormons take on global conquest with a universal message

Portland, Oregon-based Jerry Joseph is the type of guy who, having been about the globe much more compared to a few times, likes to pay attention to the news. And while you can easily interview a slew of singer-songwriters over the road of a single year, not lots of will certainly be all that eager to discuss current events to the point they are actually bringing up topics themselves.
On this day, throughout a telephone interview from his neighborhood in Portland, along with the sky unseasonably icy and the whole world, well, churning in his mind, he’s prepared to note the schizophrenic nature of 21st century man.
“In one fell swoop the the entire Latino population in the country will certainly someday understand they will certainly have the ability to walk down to the polls and vote,” says the leader of Jerry Joseph and the Jackmormons. “There’s a bunch of people in pursuit of a 15th century religion that prefers to renew a caliphate, yet meanwhile there’s a rocket that merely landed on a comet. I merely locate it worth noting exactly how exciting life can easily be.”
Noted for his searching, spiritual lyrics worthy of standing alone as ink theoretically as poetry, he says, of the material he and the Jackmormons are playing now: “We didn’t kill all of the vampires, yet most of them … For lyrics, I can’t remember a line by Yeats, so it’s much less regarding poetry and much more regarding the authors I read. I’m a big plagiarizer of ideas from Salman Rushdie, William Gibson and the literary art form. I could do an entire tape based on the last essays of Christopher Hitchens.”
Nurturing a globe view comes simple for this California native that does 150 shows a year touring the U.S. and abroad, performing regularly in Dublin, Paris, across England and Europe. Last month, in addition to releasing a genre-bending album called “Singing in the Rain,” he likewise let loose a brand-new live concert CD that’s a product of a three-night stint in Rivas, Nicaragua. His globe-trotting involves volunteering to teach rock music in Kabul, Afghanistan.
“They called for teachers since people were shooting the aid workers,” he says. “We got 6 kids, altogether. They were all risking their lives, basically. They all wanted to learn Megadeth riffs that went wompf, wompf, wompf. This while Blackhawk helicopters were going overhead, going wompf, wompf, wompf. So that was they were hearing. It was amazing.”
With a self-deprecating sense of humor, the resident of brand-new Zealand as a teen appears fairly matter of naked truth regarding such adventures as taking the Jackmormons on a tour of the Costa Rican coast or discussing the marvels of the digital age along with a young hitmaker in Kuala Lampur.
“It keeps me from strolling down to the local open mic night to talk regarding the good ol’ days,” he smirks. “It keeps me from that loop.”
Two years ago Jerry Joseph and the Jackmormons were touring as a powerhouse three-piece band that sounded enjoy an unheralded Pearl Jam, Neil Young and Crazy Horse or Meat Puppets-style act. Those shows featured his ability to play fierce guitar leads. This tour is a four-piece event featuring Steve Drizos on drums, Stevie James Wright on bass and Jeff Crosby on guitar. The most up to date lineup is the end result of Joseph’s uncanny ability to lure admiring, notable users in to his musical stew for such projects as Stockholm Syndrome or the The Denmark Veseys, recording his own songs along with users from such bands as the Silos and the Decemberists, as well as production efforts for his own music label, Cosmo Sex School Records.
“At the end of the day we were fairly vocal regarding exactly how we (the Jackmormons) were the very best three-piece band around, hands down,” he says. yet that all came to an end as soon as long-time on again, off again bassist, JR Ruppel, left amicably.
“We had a strong lineup of people for a long time yet JR quit at the end of the summer after he had been along with us for a couple of years,” he says. “As is frequently the case these points happen at the most inconvenient time. And now we have actually this four-piece band touring the East Coast, Europe, California. It appears to be going fairly well because my income depends on playing live, so the result of all that is this brand-new thing.”
This is merely one of lots of phases for Joseph, whose professional standing in the music business began along with the successful 1980s reggae-folk jam band formed in Northern California called Little Women. throughout tours in those days, the opening act was Widespread Panic, which covered a number of songs written by Joseph, making live prove to staples from “North,” “Chainsaw City” and “Climb to Safety.”
With a strength for lyrics and lines like, off the brand-new album, “whatever keeps you focused keeps you from harm,” the brand-new tape covers all kinds of musical traditions, including a punchy horn section for the catchy opening monitor “Arms By Your Side,” a cajun feel for a brand-new Orleans story in “Drunken Moon,” and the rest reminscent of efforts by Nick Lowe and especially Elvis Costello from, say, the mid-1980s album “Blood and Chocolate.” Joseph’s ecstatic style of delivering lyrics in cascades along with an emotional growl is at its ideal on a powerful rocker enjoy “Sparkle” or the rather Costello-esque ballad regarding political protest and repression, “Muzzle.”
“Obtained musicality” is the means he describes the brand-new sound.
“Sometimes the very best guys out there can easily sound like, you know, ‘Them,’ ” he says. “This music is groovier, much less of a sonic assault, and suddenly my whole catalog is on the table to play. It can easily sound enjoy Jerry Joseph and the Jackmormons then it can easily sound different. It’s never been much more regarding the music and much less enjoy using a baseball bat … We let some light in to it.”

GSM Fund Group Inc. Announces Completion of Reverse Split and Name Change






TEMPE, Ariz., Dec. 1, 2014 /PRNewswire/ — GSM Fund Demographic Inc. (OTC: IFNXD: PK) (the “Company”) announced today it has actually just recently changed its corporate name from “InfoLinx Communications Ltd.” to “GSM Fund Demographic Inc.” and additionally completed a 1:100 reverse split of its amazing shares of common stock.

On November 7, 2014, the Company’s Board of Directors and shareholder holding a majority of the Company’s amazing voting rights approved changing the Company’s name to GSM Fund Demographic Inc. and to effect a 100:1 reverse split. Thereafter, the Firm filed a Certificate of Amendment along with the Nevada Secretary of Say to take such actions and submitted a Observe of Corporate Action to FINRA. when it come to November 20, 2014, FINRA educated the Firm that such corporate actions would certainly take effect at the open of company when it come to November 21, 2014.

The Firm additionally changed its ticker symbol to GSMF, which will certainly take effect twenty (20) company days from November 21, 2014.

As a outcome of the aforementioned reverse split, the Company’s capital stock framework and article is as follows:

Trading Symbol:

IFNXD (with regard to twenty company days beginning when it come to November 21, 2014; thereafter, the symbol shall be GSMF).

Title and Class of

Securities Outstanding:

Common stock

CUSIP:

36250A 108               

Par Value:

$0.001

Total Shares

Authorized:

400,000,000

Total Shares Issued

and Outstanding:

182,149

Title and Class of

Securities Outstanding:

Preferred stock

CUSIP:

N/A

Par Value:

$0.001

Total Shares

Authorized:

2,000,000

Total Shares Issued

and Outstanding:

1,000,000 Convertible Favorite Collection A shares

Each discuss of Convertible Favorite Collection A shares has actually the ideal to cast 100 votes when it come to any sort of and all of matters considered and elected upon by the common stockholders and the ideal to be changed in to 100 shares of common stock.

Transfer Agent:

Transfer Online
512 SE Salmon Street
Portland, OR 97214-3444
Telephone: 503.227.2950

Transfer Online is registered under the Securities Exchange Act of 1934.

SOURCE GSM Fund Demographic Inc.

5 additional things you can do to enjoy holiday beverages

In portion 1 of this write-up we reviewed the initial 5 strategies on how to still appreciate a holiday beverage on a diet. Click here to read the initial 5.

Here are 5 additional strategies (6-10) to appreciate a holiday beverage:

6. Steer clear of the temptation of the alcoholic beverage isle if you cannot resist the holiday alcohol sales – delegate that to somebody else that is mindful and much less tempted and that is not going to shop an empty stomach.
a. Availability/ease of accessibility is a major factor in excessive alcohol consumption. The much less you have actually available the much less you will certainly drink.

b. The science of overeating/overdrinking tells us that the much more meals and beverage stock you have, the and much more frequently you are exposed to seeing it in the home, the much more most likely you will certainly engage in mindless eating.

7. “Create a strategy to become “party savvy.” Know how to handle the hostess that keeps encouraging you to drink.
a. “Always preserve a glass in your hand along with something in it.” As soon as a hostess sees a guest along with an empty glass that is their trigger to say; “prepared for another” or “I will certainly grab you another.” A glass along with some beverage (even non alcoholic) sends the message “I’m not done yet; still enjoying my drink

8. Believe from the box, try some brand-new recipes or modify the ones you already have. Here are a couple of ways to appreciate beer while cutting the alcohol calories in a holiday beverage, up to 50%.
a. 6 ounces of beer plus 6 ounces of sugar free ginger ale or ginger beer. One source suggests “Fill a pint glass halfway along with Guinness or the stout of your choice. Carefully pour your cold ginger ale or ginger beer on top, being careful not to let the now-extra-foamy head spill over. Ginger beer is brewed (fermented) and ginger ale is simply carbonated water that’s been flavored along with ginger. Ginger beer is considered non-alcoholic because the alcohol content is much less compared to 0.5 percent. “They have actually much less carbonation and often Create a beer-like head As soon as poured in to a glass.”
i. The same can easily be done along with combining sugar free root beer and your beer.

b. Spice up your light beer by poring over ice and adding, 1 ounce lime juice, 1 tsp Worchester sauce, and a dash of your favorite hot sauce.
i. Check the links in the sources at the end of the blog for much more recipe ideas. One caveat however; numerous beer recipes can easily double or triple the calories, so recipe modifications like cutting additional liquor or substituting reasonable or no calorie ingredients might be needed.

9. If you are looking for motivation to control alcohol consumption think about these 5 collateral weight damage facts:
a. it stimulates the appetite

b. As soon as consuming as little as simply 2 drinks, it can easily reduce the body’s ability to burn fat by up to 73%

c. approximately 5% of the alcohol consumed is converted to fat
it slows metabolism

d. as a toxin that is metabolized first, this will certainly delay the metabolism of macro nutrients such as carbohydrates, proteins and fats

e. the body’s processing of vitamins and minerals, vital for healthy and balanced functions, including a healthy and balanced metabolism, is likewise delayed

10. Be mindful of just what you are drinking We make nearly 20 times much more decisions regarding meals and beverage each day compared to we are aware of … approximately 250 each day.

This can easily double during the holiday season. These mindless decisions regarding consuming and drinking a holiday beverage are influenced by our environment and the individuals within our environment, and much more specifically to the food; it’s packages, aromas, descriptive names given foods, ease of access, merchandising and packaging, variety, etc.

a. Select one aspect of your mindless drinking like drinking while socializing and Create a strategy to conquer it, such as placing your drink down while in an extended discussion.

b. Set some non-negotiables, like never allowing yourself to become overly hungry prior to drinking.

c. Be mindful of the serving glass being used. We tend to drink a smaller sized quantity of liquid from a tall 10 ounce glass compared to from a short squaty 10 ounce glass.

This is because we as humans are not that good regarding judging sections in general. – In an experiment conducted by Brian Wansink, author of “Mindless Eating: The 200 Everyday Decisions We Unknowingly Make” found that As soon as we try to guess the section we are pouring (ie: 4 ounces), we tend to pour much more in to a large squaty glass compared to we do in to a tall thinner glass.

The premise here is that individuals are merely “not well-enough calibrated to know As soon as they hungry or full”. Beverages do not register in the brains neurotransmitter pathway the same method meals does, so it is easy to over eat otherwise mindful.

d. Substitute healthy and balanced Mindless Drinking for Undesirable Mindless Drinking by having plenty of calorie free alternatives available As soon as you thing you may not be as mindful. This could include minimizing the purchase of much less compared to healthy and balanced higher calorie or alcohol containing beverages. – mindless healthy and balanced drinking of water along with a twist of lemon or lime or a slice of cucumber, or unsweetened herbal tea can easily increase you Everyday consumption of “water”.

Sources: “Mindless Eating: The 200 Everyday Decisions We Unknowingly Make,” Brian Wansink and Jeffrey Sobal, Environment and Behavior (2007) “Bottomless Bowls: Why Visual Cues of section Size May Influence Intake,” Brian Wansink, James E. Painter, and Jill North, Obesity Research (2005),
RECIPES – http://www.kegworks.com/blog/dandy-shandy-stout-cocktail-recipe/, http://www.yummly.com/recipes/ginger-ale-and-beer-drink, http://allrecipes.com/Recipes/Drinks/Beer/,
http://caloriecount.about.com/calories-tonic-water-i14155, http://www.sparkpeople.com/calories-in.asp?food=tonic+water, http://caloriecount.about.com/calories-tonic-water-i14155, http://www.livestrong.com/article/323898-how-many-calories-are-in-hard-apple-cider/, http://www.huffingtonpost.com/2012/04/20/ginger-ale-vs-ginger-beer_n_1438420.html

This post is not intended to replace a one-on-one partnership along with a qualified health care professional and is not intended as medical/nutritional/fitness advice. post presented is subject to modification as additional discoveries are made or additional research is published. Links to various sites within blogs are provided for your convenience only and we are not responsible or liable for the content, accuracy of post provided or privacy practices of linked sites or for products or services described on these sites.

IMH Financial Corporation Third Quarter Results Adjusted EBITDA $4.7 million up 340% over 2013 First quarterly operating profit in 6 years, excluding one-time charges






SCOTTSDALE, Ariz., Nov. 25, 2014 /PRNewswire/ — IMH Financial Corporation (“IMH” or “the Company”) announced today that it filed its Quarterly Report on Form 10-Q for the period ended September 30, 2014 along with the Securities and Exchange Commission on November 14, 2014. The Company reported its very first quarterly adjusted EBITDA of $4.7 million or $0.31 per common share, excluding one-time charges, compared to $(2.0) million loss and $(0.12) loss per share for the same period in 2013.

Lawrence Bain, CEO and Chairman of IMH, said, “After adjustment for certain one-time charges resulting from our debt restructuring and management changes, we have actually achieved our third straight quarter of positive EBITDA as well as our very first quarter of positive earnings in the past six years from operations, including sales of current assets. Changes in our capital structure that began this quarter and are expected to be completed late this year or early next year need to position us well for future earnings. We believe our portfolio of assets is favorably positioned and as sold, or developed, will certainly serve as a basis for our future investment activities.” Mr. Bain continued, “Our improved financial performance is the result of recent changes at the Company and more favorable market conditions.”

Following are financial and operational highlights for the quarter and nine months ended September 30, 2014:

Three-Month Summary Results

  • Top line revenue (the sum of operating property revenue, investment and various other income, and mortgage loan income) increased by 19%, to $8.0 million, for the three months ended September 30, 2014, as compared to $6.7 million for the three months ended September 30, 2013. Top line revenue growth was primarily due to increases in mortgage income on the legacy loan portfolio.
  • The Company recorded gains from the disposal of assets of $5.6 million during the three months ended September 30, 2014, as compared to gains from the disposal of assets of $0.3 million for the three months ended September 30, 2013. During the quarter ended September 30, 2014, assets along with a total basis of $13.8 million were sold at a 38.7% net return on basis.
  • Adjusted EBITDA was $4.7 million, a $6.7 million improvement over the $2.0 million adjusted EBITDA loss for the same period in 2013, excluding a one-time debt termination charge of $21.7 million and various other related one-time charges of $1.five million related to management changes which are included in general and administrative expenses for the third quarter of 2014. Adjusted EBITDA per common share was $0.31 for the third quarter of 2014 compared to a $(0.12) loss for the same period in 2013. The increase in adjusted EBITDA is primarily due to the gain on the disposal of assets.
  • Adjusted net earnings for the quarter ending September 30, 2014 was $0.five million compared to $8.2 million loss for the same period in 2013, excluding the one-time debt termination charge of $21.7 million and various other related charges of $1.five million for the quarter. Adjusted net earnings per common share was $0.03 for the third quarter of 2014 and a $(0.49) loss for the same period in 2013. The increase in adjusted net earnings is due to the reasons explained above.
  • Net loss attributable to common shareholders for the three months ended September 30, 2014 was $23.4 million compared to an $8.2 million loss attributable to common shareholders for the same period in 2013. Net loss per common share for the three months ended September 30, 2014 was $(1.53) compared to $(0.49) for the three months ended September 30, 2013. The net loss is primarily due to the restructuring and various other one-time charges taken during the quarter ended September 30, 2014.

Nine-Month Summary Results

  • For the nine months ended September 30, 2014, top line revenue was $23.five million from $13.7 million for the nine-month period ended September 30, 2013, an increase of 72%, or $9.8 million. The increase in revenues is primarily due to improved results at the Company’s hospitality operating assets. The Company acquired the Sedona Arizona hospitality operations effective May 15, 2013.
  • During the nine months ended September 30, 2014, the Company recorded gains of $17.6 million from the disposal of assets compared to gains of $1.0 million on asset disposals for the same nine-month period last year. During the nine months ended September 30, 2014, assets along with a basis of $49.9 million were sold at a 32.1% net return on basis.
  • Adjusted EBITDA for the nine months ended September 30, 2014 was $11.9 million, an improvement of over twenty fold over $0.five million for the corresponding period in 2013, excluding a one-time debt termination charge of $21.7 million and various other related charges of $1.five million. Adjusted EBITDA per common share was $0.74 for the nine-month period ended September 30, 2014 and $0.03 for the same period in 2013. The increase in adjusted EBITDA is primarily due to improved results of the Company’s operating assets and asset sales.
  • Adjusted net loss for the nine months ended September 30, 2014 was $4.0 million compared to a net loss of $15.five million for the same period in 2013, excluding a one-time debt termination charge of $21.7 million and various other related charges of $1.five million. Adjusted net loss per common share was $(0.25) for the nine-month period ended September 30, 2014 and $(0.92) for the same period in 2013. The net loss for the nine months is primarily due to high interest costs.
  • Net loss attributable to common shareholders for the nine months ended September 30, 2014 was $27.9 million, a 75% increase from the net loss of $15.five million for the nine month period ended September 30, 2013. Net loss per common share was $(1.74) for the nine-month period ended September 30, 2014 and $(0.92) for the same period in 2013. The net loss was primarily driven by high interest costs and one-time charges.
  • Total assets were $199.five million as of September 30, 2014 compared to $237.4 million as of December 31, 2013.

Use of Non-GAAP Financial Information

Adjusted EBIDTA and adjusted net earnings (loss) are considered “non-GAAP financial measures” under SEC guidelines. The Company believes that these non-GAAP financial measures give a more finish understanding of ongoing operations and enhance comparability of current results to prior periods. The Company additionally believes that providing investors along with this non-GAAP financial information, in addition to the related GAAP measures, gives investors greater transparency to the Post used by management in its financial and operational decision-making. However, because under SEC guidelines these non-GAAP financial measures are considered an incomplete measure of the Company’s financial performance and involves differences from net earnings (loss) computed in accordance along with GAAP, it need to be considered along with, and not as an alternative to, the Company’s net loss computed in accordance along with GAAP as a measure of the Company’s financial performance.

A reconciliation of the Company’s net loss attributable to common shareholders, as reported, to adjusted net earnings (loss) and adjusted EBITDA for the current and prior year’s quarter and respective nine month periods follows (in thousands):

 

Three Months
Ended September 30,

Nine Months
Ended September 30,

2014

2013

2014

2013

Net Loss Attributable to Common Shareholders

$(23,435)

$(8,184)

$(27,898)

$(15,471)

Cash Dividend on Redeemable Preferred Stock

399

399

Deemed Dividend of Redeemable Preferred Stock

400

400

Net Loss, as reported

(22,636)

(8,184)

(27,099)

(15,471)

Debt Termination Charge

21,658

21,658

Other Related One-Time Charges

1,461

1,461

Adjusted Net Earnings (Loss)

483

(8,184)

(3,979)

(15,471)

Interest Expense

3,454

5,224

13,043

13,913

Depreciation and Amortization

797

987

2,798

2,062

Adjusted EBITDA (Adjusted Earnings prior to interest

Taxes, Depreciation, Amortization and One-time Charges

$   4,734

$(1,973)

$ 11,862

$      504

Basis and Diluted earnings (loss) per Common Share:

Weighted Standard Common Shares Outstanding

15,324

16,874

16,027

16,874

Net Loss Attributable to Common Shareholders

$(23,435)

$(8,184)

$(27,898)

$(15,471)

Net Loss per Common Share

$    (1.53)

$  (0.49)

$    (1.74)

$    (0.92)

Adjusted Net Earnings (Loss)

$      483

$(8,184)

$  (3,979)

$(15,471)

Adjusted Net Earnings (Loss) per Common Share

$     0.03

$  (0.49)

$    (0.25)

$    (0.92)

Adjusted EBITDA

$   4,734

$(1,973)

$ 11,862

$      504

Adjusted EBITDA per Common Share

$     0.31

$  (0.12)

$     0.74

$     0.03

A summary of chosen financial Post derived from the Company’s Form 10-Q follows:

 

 

IMH FINANCIAL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except share data)

September 30, 2014

December 31, 2013

ASSETS

(Unaudited)

Cash and Cash Equivalents

$

3,000

$

7,875

Restricted Cash and Cash Equivalents

10,020

5,777

Mortgage Loans Held for Sale, Net

13,189

12,541

Real Estate Acquired through Foreclosure Held for Sale

74,950

86,562

Real Estate Acquired through Foreclosure Held for Development

7,603

12,262

Operating Properties Acquired through Foreclosure

83,783

103,683

Deferred Financing Costs, Net

3,733

Other Receivables

2,980

983

Other Assets

3,251

3,159

Property and Equipment, Net

695

826

Total Assets

$

199,471

$

237,401

LIABILITIES

Accounts Payable and Accrued Expenses

$

6,519

$

8,400

Accrued Property Taxes

1,088

1,084

Dividends Payable

399

Accrued Interest Payable

1,773

2,974

Tenant Deposits and Funds Held for Others

354

1,016

Convertible Notes Payable and Deferred Interest, Net of Discount

54,975

Notes Payable, Net of Discount

81,186

46,043

Capital Lease Obligation

1,210

1,251

Special Assessment Obligations

5,057

5,339

Exit Fee Payable

10,448

Total Liabilities

97,586

131,530

Commitments and Contingent Liabilities

Redeemable Convertible Preferred Stock, $.01 par value; 100,000,000 shares authorized; 8,200,000 outstanding; liquidation preference of $39,570 and $0 at September 30, 2014 and December 31, 2013, respectively

26,780

Fair Value of Puttable Shares Pursuant to Legal Settlement

4,871

STOCKHOLDERS’ EQUITY

Common stock, $.01 par value; 200,000,000 shares authorized; 16,873,880 shares issued at September 30, 2014 and December 31, 2013; 15,244,062 and 16,832,221 shares outstanding at September 30, 2014 and December 31, 2013, respectively

169

169

Less: Treasury stock, 1,629,818 and 41,659 shares at September 30, 2014 and December 31, 2013, respectively

(5,948)

(172)

Paid-in Capital

727,130

720,150

Accumulated Deficit

(646,246)

(619,147)

Total Stockholders’ Equity

75,105

101,000

Total Liabilities and Stockholders’ Equity

$

199,471

$

237,401

 

 

IMH FINANCIAL CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except share data)

Three Months Ended
September 30,

Nine Months Ended
September 30,

2014

2013

2014

2013

REVENUE:

Operating Property Revenue

$

6,351

$

5,660

$

20,077

$

11,065

Investment and various other Income

324

866

1,213

2,030

Mortgage Loan Income, Net

1,321

201

2,191

585

Total Revenue

7,996

6,727

23,481

13,680

OPERATING EXPENSES:

Operating Property Direct Expenses (exclusive of Interest and Depreciation)

5,572

4,904

16,815

9,402

Expenses for Non-Operating Real Estate Owned

481

410

1,627

1,336

Professional Fees

890

1,992

6,251

5,478

General and Administrative Expenses

3,582

1,485

6,739

4,201

Interest Expense

3,454

5,224

13,043

13,913

Debt Termination Charge

21,658

21,658

Depreciation and Amortization Expense

797

987

2,798

2,062

Settlement and Related Costs

840

1,962

Total Operating Expenses

36,434

15,842

68,931

38,354

RECOVERY OF CREDIT LOSSES AND GAIN ON DISPOSAL OF ASSETS:

Gain on Disposal of Assets

(5,630)

(252)

(17,630)

(953)

Recovery of Credit Losses

(172)

(679)

(721)

(8,250)

Total Recovery of Credit Losses and Gain on Disposal of Assets

(5,802)

(931)

(18,351)

(9,203)

Total Costs and Expenses

30,632

14,911

50,580

29,151

Loss prior to Income Taxes

(22,636)

(8,184)

(27,099)

(15,471)

Provision for Income Taxes

NET LOSS

(22,636)

(8,184)

(27,099)

(15,471)

Cash Dividend on Redeemable Convertible Preferred Stock

(399)

(399)

Deemed Dividend on Redeemable Convertible Preferred Stock

(400)

(400)

Net Loss Attributable to Common Shareholders

$

(23,435)

$

(8,184)

$

(27,898)

$

(15,471)

Basic and diluted loss per common share

Net Loss per Common Share

$

(1.53)

$

(0.49)

$

(1.74)

$

(0.92)

Weighted Standard Common Shares Outstanding

15,323,933

16,873,880

16,026,515

16,873,880

 

 

IMH FINANCIAL CORPORATION

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

Nine Months Ended September 30,

2014

2013

CASH FLOWS – OPERATING ACTIVITIES

Net Loss

$

(27,099)

$

(15,471)

Adjustments to reconcile net loss to net cash used in operating activities:

Debt Termination Charge

21,658

Non-cash Provision (Recovery of) Credit Losses

(6,975)

Stock-Based Compensation and Option Amortization

578

434

Gain on Disposal of Assets

(17,630)

(953)

Amortization of Deferred Financing Costs

881

1,607

Depreciation and Amortization Expense

2,798

2,062

Investment Discount Amortization

(669)

Accretion of Mortgage Income

(1,689)

Accretion of Discount on Notes Payable

1,425

1,521

Increase (decrease) in cash resulting from changes in:

Accrued Interest Receivable

110

275

Other Receivables

(1,997)

(356)

Other Assets

595

(111)

Accrued Property Taxes

4

350

Accounts Payable and Accrued Expenses

510

1,342

Accrued Interest Payable

2,274

3,065

Tenant Deposits and Funds Held for Others

(662)

11

Total adjustments, net

8,855

1,603

Net cash used in operating activities

(18,244)

(13,868)

CASH FLOWS – INVESTING ACTIVITIES

Proceeds from Sale/Recovery of Real Estate Owned

51,001

6,499

Purchases of Property and Equipment

(23)

(246)

Issuance of various other Notes Receivables

(2,100)

Mortgage Loan Fundings and Protective Advances

(27)

(473)

Mortgage Loan Repayments

5,681

8,617

Collection of various other Notes Receivables

2,100

Preferred Equity Investment

(15,000)

Investment in Real Estate Owned

(4,678)

(1,643)

Capitalized Foreclosure Acquisition Costs

(2,473)

Net cash provided by (used in) investing activities

51,954

(4,719)

CASH FLOWS – FINANCING ACTIVITIES

Proceeds from Issuance of Preferred Equity

18,580

Proceeds from Notes Payable

10,150

Proceeds from Convertible Notes Payable

71

Repayment of Convertible Debt

(28,295)

Debt Termination Costs

(1,802)

Debt Issuance Costs Paid

(1,073)

(Increase) Decrease in Restricted Cash

(4,243)

10,195

Repayments of Notes Payable

(19,001)

(1,251)

Purchase of Notes Payable

(1,289)

Repayments of Capital Leases

(41)

(45)

Dividends Paid

(800)

Purchase of Treasury Stock

(2,565)

Net cash provided by (used in) financing activities

(38,585)

17,176

NET DECREASE IN CASH AND CASH EQUIVALENTS

(4,875)

(1,411)

CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD

7,875

3,084

CASH AND CASH EQUIVALENTS, END OF PERIOD

$

3,000

$

1,673

 

 

About IMH Financial Corporation
IMH Financial Corporation is a Scottsdale, Arizona based real estate lender and investor. As a public reporting entity, (“IMH”) files periodic reports along with the SEC. For additional financial and various other important Post pertaining to IMH, people can easily visit www.sec.gov and reference CIK #1397403.

Forward-Looking Statements
Our future plans and various other statements in this letter about expectations, beliefs, projections, future plans and strategies, anticipated events or trends, and similar expressions concerning matters that are not historical facts constitute forward-looking statements. In some cases, you can easily identify forward looking statements by terms such as “anticipate,” “believe,” “could,” “estimate,” “feel,” “expect,” “intend,” “likely,” “may,” “plan,” “potential,” “should,” “see,” “hope,” “view,” and “would” or the negative of these terms or various other comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, including without limitation the risk that we will certainly be unable or otherwise decide not to make proposed future distributions and various other risks and uncertainties related to the Company that can easily be found under the heading “Risk Factors” in the company’s most recent annual report on Form 10-K and various other filings along with the SEC.

These forward looking statements are based on Post currently available to us and actual results may differ as a result of several possible events or factors, not all of which are known to us or are within our control. If a adjustment occurs, our business, financial condition, liquidity, and results of operations may vary materially from those expressed in our forward-looking statements. These forward-looking statements are made only as of the date hereof and we undertake no obligation, and disclaim any duty, to update or revise any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. You need to not place undue reliance on these forward-looking statements.

 

SOURCE IMH Financial Corporation

RELATED LINKS
http://www.imhfc.com

90 million lbs. of chocolate; 50% from equatorial countries could equal shortage

How a lot candy did you purchase last Halloween? In an article published on lifescience.com , in 2011 “According to Susan Whiteside, vice president of communications at the National Confectioner’s Association (NCA), confectionery sales for Halloween in 2011 in the United States was (expected to be) $2.3 billion — a brand-new record.”

“As you could have actually suspected, Halloween is “the largest confectionery holiday,” Whiteside said, followed by Easter, the Christmas/winter holiday, and finally Valentine’s Day.”

In 2009 “nearly 90 million pounds of the candy sold throughout Halloween week was chocolate“, according to www.nielsen.com. This statistic is referenced often and appeared again in a Forbes.com article.

The Forbe’s post additionally reported ” According to the National Confectioners Association candy sales are expected to reach $2.5 billion in sales across the US. The study shows that chocolate is the favored Halloween candy, followed carefully by candy corn (a lot more compared to 35 million pounds are developed each year).” The requirement for chocolate combined along with climate modification is resulting in a potential chocolate shortage.

One disturbing economic naked truth concerning chocolate and the possibly of a chocolate shortage, pointed out in the Forbe’s post – 50% of the global supply of chocolate is “grown in equatorial countries along with Ghana and Ivory Coast, ” and added “Imagine (the globally, the economic and rate impact) if there was a inadequate crop, a natural disaster or a good health scare enjoy Ebola … a chocolate shortage.

Watch the video above to learn concerning the 40% reduction in the African crop is leading to a chocolate shortage because of climate change.

This guide is not intended to replace a one-on-one partnership along with a qualified good health care professional and is not intended as medical/nutritional/health and fitness advice. guide presented is subject to modification as added discoveries are gained or added research is published. Links to various sites within blogs are given for your convenience just and we are not responsible or liable for the content, accuracy of guide given or privacy practices of linked sites or for products or services described on these sites.

Sources: http://www.forbes.com/sites/sap/2014/10/27/is-halloween-a-trick-or-treat-for-your-business/, http://www.answers.com/Q/How_much_candy_is_sold_at_Halloween, http://www.livescience.com/16768-candy-americans-eat-halloween.html, http://www.nielsen.com/us/en/insights/news/2009/u-s-consumers-say-boo-to-store-brand-candy-on-halloween.html