Microcap Alert Issues Float Lock-Up Watch on Title Consulting (TITL)
Last Updated: August 12, 2010 - 11:30am EST
(NEW YORK)--Microcap Alert has placed Title Consulting Services, Inc. (OTC:TITL), an independent title insurance agency, on float lock-down watch as company retires 400 million shares from shares outstanding, potential price target of $0.04 to $0.05 near-term.
Title Consulting Services, Inc., through its wholly-owned subsidiary Accu Title Agency, operates a network of up to 20 independent title insurance agency locations strategically located across the state of Florida. The company is headquartered in St. Petersburg, and has been in operations since early 2001.
Share Structure
On August 10, 2010, the Company announced it was rescinding a resolution taken on July 29 whereby it raised the outstanding common shares by 400,000,000. This reversal will result in the outstanding common share count reverting back to 115 million common shares issued and outstanding. The float has not been affected by this transactions and remains at 28 million.
The move to reduce the shares outstanding was a smart move on the part of the CEO. The recent drop in the price had brought in a number of traders who may have taken a sizable portion of the public float out of the market. Thus, with the increased demand for shares has put the company of a potential float lock-up watch.
* The Company transfer agent is un-gagged for full public transparency.
Merger and Acquisitions
The Company is currently in the process of seeking out an operating Property and Casualty Insurance Agency (PCIA) to bring under the Title Consulting holding umbrella. The acquisition of an operating and cash-flow positive PCIA will help diversify the Title Consulting portfolio, and provide the company the ability to present current title insurance clients with alternatives to their existing homeowners insurance.
An acquisition of a new insurance provider could push the company into the profitability range, while providing cash-flow for operations. News of first insurance acquisition is pending, and expected shortly
National Expansion
In addition to expanding their market reach and product offerings in the State of Florida, the company also anticipates expansion nationally through acquisition of property, title, and causality insurance targets. This will allow the company to expand their market breath, and begin marketing the company as a national insurance provider.
Operations
For the three months ending April 2010, the Company reported total revenues of $364,204, with a gross profit of $231,527. After operational expenses, the company reported a net loss of just ($114), compared to a loss of ($30,683) for the same period 2009. At the end of this period the Company reported total assets of around $1.4 million.
The Company is expected to file financials for the three-months ending July 2010 in the very near-future, and could be a strategic move to bring the company 'current' with OTC markets.
Valuation and Technical Analysis
The RSI has turned upward and crossing 50 which indicates additional upside from these levels. The stock has broken above its 5 and 50 day moving average, with resistance seen at the 10 day at $0.015. A break above the 10 day ($0.015) could provide for a sharp run. The TRIX remains in positive territory, and the MACD has now turned upward indicating near-term run in the stock.
Based on the new share structure of 115 million, and an every increasing tight float, TITL could see a near-term run up to the $0.035 to $0.05 range as investors scramble to buy back in. A share price of $0.05 a share would now equate to only a $5.5 million market cap. Watch for a move above $0.015, and increased volume, as a possible break-out alert.
Risks
The company is currently traded on the Pink Sheet exchange, and thus has a limited trading market established. Investors are highly encourage to consult with a financial advisors before making and and all investment decisions regarding these kinds of securities.
Recommendations
We have submitted the following recommendations to Title Consulting on what actions the company could take to better assist them in building additional value for the company, and its shareholders.
- Issue Series A Voting Preferred to company management. This would give management ongoing majority voting control of the company, while providing for no dilution to the common shareholders.
- Use Series B and C Preferred, in conjunction with common shares, for any large acquisitions. This would decrease the dilution in any acquisitions or mergers, and in-turn increase the value of the company in rapid form.
- Develop a solid Board of Directors, and Advisors. The company could offer Director seats to new acquisition targets, executives with strong insurance backgrounds, and an individual with investment banking experience.
Microcap Alert began coverage on TITL on August 10th, 2010 at a price of $0.0115 per share.
http://www.wallstreetnewscast.com/news/2010/august/titl.html
Thursday, August 12, 2010
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