-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BNjEdxdOqOOX9E960aQQdTj2n62aJCQ0DL+4YJ/pMWQSyKDS8Kz99E28mIsOmTIS 3c60PRysqhX/S5ppl7CNcg== 0001019056-03-000079.txt : 20030205 0001019056-03-000079.hdr.sgml : 20030205 20030205150707 ACCESSION NUMBER: 0001019056-03-000079 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030205 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030205 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STRATEGIC CAPITAL RESOURCES INC CENTRAL INDEX KEY: 0001009416 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE DEALERS (FOR THEIR OWN ACCOUNT) [6532] IRS NUMBER: 113289981 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28168 FILM NUMBER: 03540597 BUSINESS ADDRESS: STREET 1: 7900 GLADES RD. STREET 2: SUITE 610 CITY: BOCA RATON STATE: FL ZIP: 33434 BUSINESS PHONE: 5615580165 MAIL ADDRESS: STREET 1: 7900 GLADES RD. STREET 2: SUITE 610 CITY: BOCA RATON STATE: FL ZIP: 33434 FORMER COMPANY: FORMER CONFORMED NAME: JJFN SERVICES INC DATE OF NAME CHANGE: 19960301 8-K 1 strategic_8k.txt FORM 8-K UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report February 5, 2003 Commission File No. 0-28168 STRATEGIC CAPITAL RESOURCES, INC. (Exact name of Registrant as specified in its charter) Delaware 11-3289981 (State or other jurisdiction of IRS Employer Identification Number) incorporation or organization) 7900 Glades Road, Suite 610, Boca Raton, Florida 33434 (Address of principal executive office) (561) 558-0165 (Registrant's Telephone Number, Including Area Code) ITEM 5. Other Events On February 4, 2003, Strategic Capital Resources, Inc. issued a press release reporting its financial results for the first quarter ended September 30, 2002. A copy of such press release is attached, and incorporated herein by reference, as Exhibit 99.1. ITEM 7. Financial Statements, Pro Forma Financial Information and Exhibits (c) Exhibits. 99.1 Press Release, dated February 4, 2003. 2 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized. STRATEGIC CAPITAL RESOURCES, INC. By: /s/ DAVID MILLER ------------------------------------------ Name: David Miller Title: Chairman and CEO 3 Exhibit Index Exhibit No. Description - ----------- ----------- 99.1 Press release, dated February 4, 2003 4 EX-99 3 ex99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 STRATEGIC CAPITAL RESOURCES, INC. 1ST QUARTER FISCAL 2003 RESULTS Strategic Capital Resources, Inc. (OTCBB-SCPI) today reported a net income for its fiscal first quarter 2003 of $ 218,127 or $2.76 per share (diluted), on revenues of $12,881,836 compared to net income of $444,549 or $5.43 per share (diluted) on revenues of $4,952,308 for the first quarter of fiscal 2002 for the period ended September 30. This represents a 160% increase in revenues and 52% decrease in net income for the quarter ended September 30, 2002 versus September 30, 2001. The increase in revenue was due to the sale of residential real estate leases totaling $10.2 million for the period compared to $2.1 million for the same period in the prior year. The decrease in net income was attributable to a $250,000 impairment charge occurring in the quarter ended September 30, 2002. The company's principal operations consist of the following business lines: 1. The purchase and leaseback of fully furnished model homes. 2. The acquisition, development and sale of residential real estate. 3. The purchase and leaseback of multi-family residential/commercial real estate. "Safe Harbor Statement" Except for the historical information contained herein, certain matters discussed in this press release are "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995, which involve certain risks and uncertainties, including but not limited to changes in competition, environmental factors, and governmental regulations affecting the company's operations. See the company's latest Annual Report on Form 10-K for the year and Form 10-Q/A filed with the SEC for a discussion of these and other risks and uncertainties applicable to the company's business. 5 STRATEGIC CAPITAL RESOURCES, INC. Select Financial Data Amount in thousands (except per share amounts) Three Months Ended September 30, ------------------------- 2002 2001 Revenues $ 12,882 $ 4,952 Costs & Expenses 12,249 4,318 Impairment charge 250 0 Operating Income before income taxes 383 634 Income tax expense 165 190 Net income 218 444 Preferred Stock Distributions 5 15 Income applicable to Common Shareholders 213 429 Weighted average shares outstanding 77 79 Earnings per share - Basic $ 2.76 $ 5.56 Earnings per share - Diluted $ 2.76 $ 5.43 Net investment in direct financing leases: Model Homes $ 16,005 $ 31,130 Residential Real Estate $ 57,132 $ 56,369 Multi-family Residential $ 10,228 $ 10,228 Total revenue producing assets $ 83,365 $ 97,727 Total Assets $ 86,060 $ 100,129 Shareholders' Equity $ 8,744 $ 8,867 Contact: Strategic Capital Resources, Inc., Boca Raton Cary Greenberg, CFO, 561-558-0165 caryg@strcap.com 6 -----END PRIVACY-ENHANCED MESSAGE-----