NEW YORK, Oct. 14, 2014 /PRNewswire/ -- The following
is a letter from James Giordano,
Chairman & CEO, to Harrison,
Vickers and Waterman, Inc. Shareholders:
Letter to Shareholders
10/14/2014
Dear Shareholders
I am writing to introduce myself and outline our business and
direction for the remainder of this year.
Previously known as Sharp Performance Inc. and providing
consulting services related to the automotive industry we changed
our name to Harrison, Vickers and
Waterman, Inc. and adopted what we believe to be an advantageous
and opportunistic business model and growth strategy. We lend
money to commercial borrowers for the acquisition and refinance of
real estate, which is secured by the real estate assets and other
collateral.
As we are headquartered in the borough of the Bronx in New York
City our geographic lending footprint and base is
predominately in the tri state area (New
York, New Jersey and
Connecticut). The Company's
business model is to provide alternative funding solutions to
borrowers who may not qualify with conventional lenders or may
require faster turnaround by offering them commercial secured real
estate loans with terms that are designed to be advantageous and
otherwise risk averse to us. Typical terms for loans are as
follows: a) terms are generally for one year but may be extended to
three years; b) interest rates are above market and may be
adjustable upward with a floor; c) loans are interest only; d) loan
to value ("LTV") no more than 65% and generally 50% or less; e)
loan secured by a first lien; f) all expenses, costs and fees
incurred are paid for by the borrower. We anticipate additional
opportunities through loan default, foreclosure, selected
development, joint venture opportunities, as well as ownership and
property management.
Returns on our loans are designed to be more than commensurate
with the risks offered by the short-term nature of the loans, above
market interest rates and a low loan to value ratio ("LTV") of our
loans. We also expect to be able to charge above average
interest rates due to efficiencies in providing loans and our
knowledge in conducting due diligence accurately and timely.
Because of the nature, structure and characteristics of our loans,
when and if borrowers enter into a default, our remedies are
designed to produce significantly greater return on our assets than
otherwise. We also at times may look to participate through
equity ownership in projects that offer preferred risk adjusted
returns. Whether solely lending or combining lending with an
equity investment we expect to attain steady income and cash flow
from our core loan portfolio with additional appreciation through
equity ownership and/or project participation and
development.
To date, we have received ample loan applications and inquiries
to review that match our criteria and lending standards.
Loans are brought to us through a network of professionals as well
as brokers.
Borrowers seek our services because of our ability to provide
quick turnaround, qualify them where traditional lenders are not
able, work closely to structure a roadmap for their success that is
attainable and be there if needed when things don't go as
planned.
Our expected returns on invested capital are in the mid teens
with ample available capacity. Our infrastructure presently
is outsourced but as we grow we anticipate moving more in
house.
Our goal is to create shareholder wealth and appreciation.
As the company continues to evolve we will seek new avenues for the
company to grow. In order to facilitate our growth we
will need to generate permanent funding sources.
Finra recently has granted us the trading symbol "HVCW" that the
public and existing shareholders can follow on the OTC Bulletin
Board. Further please feel free to look us up on the web at
www.hvandw.com.
Thank you, for the opportunity to serve you in my
capacities.
James Giordano
Chairman & CEO
Statements made in this letter that are not historical in
nature, including those related to market acceptance of products,
constitute forward-looking statements within the meaning of the
Safe Harbor Provisions of the Private Securities Litigation Reform
Act of 1995. Forward-looking statements can be identified by the
use of words such as "expects," "projects," "plans," "will," "may,"
"can," "anticipates," believes," "should," "intends," "estimates,"
and other words of similar meaning. These statements include all
statements related to our anticipated opportunities, our new
business model, the potential return on assets and our ability to
create shareholder wealth and appreciation. The statements
are subject to risks and uncertainties that cannot be predicted or
quantified, and our actual results may differ materially from those
expressed or implied by such forward-looking statements. Such risks
and uncertainties include, without limitation, our ability to
secure permanent funding sources, attract borrowers on the terms
discussed above, comply with all regulatory requirements relating
to our business and the risk factors described in our Annual Report
on Form 10-K and other periodic reports filed with the Securities
and Exchange Commission.
SOURCE Harrison, Vickers and
Waterman, Inc.