-----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, AaJya+XFRWtBFFM9YRXz6t3eAQYdPAUa08qzVrydj7OMfSvPmRtJgKwmBZHzZ2IJ y6UyRD+gGMng7E7CTHuE6g== 0001019056-03-000112.txt : 20030212 0001019056-03-000112.hdr.sgml : 20030212 20030212171551 ACCESSION NUMBER: 0001019056-03-000112 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030212 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030212 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: 03555468 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 12, 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 12, 2003, Strategic Capital Resources, Inc. issued a press release reporting its financial results for the quarter ended December 31, 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 12, 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 12, 2003 4 EX-99 3 ex99_1.txt EXHIBIT 99.1 EXHIBIT 99.1 STRATEGIC CAPITAL RESOURCES, INC. REPORTS 2nd QUARTER FISCAL 2003 RESULTS Strategic Capital Resources, Inc. (OTCBB-SCPI) today reported a net income for its fiscal 2nd quarter 2003 of $ 274,941 or $3.56 per share, on revenues of $17,079,961 compared to net income of $509,552 or $6.41 per share on revenues of $10,632,843 for the same quarter of fiscal 2002 for the period ended December 31. This represents a 61% increase in revenues and 44% decrease in net income for the quarter ended December 31, 2002 versus December 31, 2001. The decrease in net income was primarily due to a decrease of $491,349 in interest income of direct financial arrangements. For the six months ended December 31, 2002, Strategic Capital Resources reported net income of $493,068 or $6.32 per share on revenues of $29,961,797 compared to net income of $954,102 or $11.56 per share (diluted) on revenues of $15,585,152 for the same period of fiscal 2002 ended December 31. The increase in revenue was due to the sale of residential real estate leases totaling $24.9 million for the period compared to $9.7 million for the same period in the prior year. The decrease in net income was attributable to a $250,000 impairment charge and a decrease in interest income for the six months ended December 31, 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 December 31, 2002 2001 ---- ---- Revenues $17,080 $10,633 Costs & Expenses 16,598 9,863 Operating Income before income taxes 482 770 Income tax expense 207 260 Net income 275 510 Preferred Stock Distributions 0 15 Income applicable to Common Shareholders 275 495 Weighted average shares outstanding 77 77 Earnings per share - Basic $3.56 $6.41 Earnings per share - Diluted $3.56 $6.41 Six Months Ended December 31, 2002 2001 ---- ---- Revenues $29,962 $15,585 Costs & Expenses 29,097 14,181 Operating Income before income taxes 865 1,404 Income tax expense 372 450 Net income 493 954 Preferred Stock Distributions 5 30 Income applicable to Common Shareholders 488 924 Weighted average shares outstanding 77 80 Earnings per share - Basic $6.32 $11.97 Earnings per share - Diluted $6.32 $11.56 December 31, 2002 2001 ---- ---- Net investment in direct financing leases: Model Homes $13,636 $25,044 Residential Real Estate $44,614 $53,117 Multi-family Residential $10,228 $10,228 Total Revenue Producing Assets $68.478 $88,389 Total Assets $71,766 $90,798 Shareholders' Equity $9,019 $8,531 Contact: Strategic Capital Resources, Inc., Boca Raton Cary Greenberg, CFO, 561-558-0165 caryg@strcap.com 6 -----END PRIVACY-ENHANCED MESSAGE-----