This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Timios National Corporation Files Third Quarter Results

Stocks in this article: HOMS

Timios National Corporation (OTCBB: HOMS), a national provider of real estate services to banks, financial institutions and mortgage lenders reported its third quarter financial results in its Form 10Q, filed November 13, 2012, for the three and six month periods ended September 30, 2012.

Revenue during the three months ending September 30, 2012 was $5.7 million as compared to $4.2 million for the three months ended September 30, 2011. Net loss, before giving effect to non-controlling interests and preferred stock beneficial conversion features and dividends was $115,487 for the three months ended September 30, 2012 as compared to $851,062 for the same period of 2011. Net loss after giving effect to non-controlling interests and preferred stock beneficial conversion features and dividends for the three months ended September 30, 2012 was $160,345 or $0.20 per share as compared to a loss of $1.4 million or $13.18 per share for the same period of 2011.

Revenue for the nine months ending September 30, 2012 was $15.1 million.. Net loss, before giving effect to non-controlling interests and preferred stock beneficial conversion features was $659,218 for the nine months ended September 30, 2012. Net loss, after giving effect to non-controlling interests and preferred stock beneficial conversion features and dividends for the nine months ended September 30, 2012 was $706,755 or $2.04 per share.

All prior year per share data has been restated to reflect a 1 for 500 reverse split. Comparisons for the nine months ended September 30, 2012 to the prior year have not been made because the acquisitions of the current businesses occurred during the third quarter of 2011.

As of November 13, 2012 there were 2,270,528 common shares outstanding. Additionally, there are 2,589,143 preferred shares outstanding, convertible into 8,513,102 common shares at the holder’s option.

C. Thomas McMillen, HOMS Chairman and CEO, stated, “We are very pleased with our quarterly revenue results. Higher than expected professional fees concerning our restructuring during the quarter prevented us from achieving profitability.” McMillen continued, “The restructuring completed during the quarter has significantly changed the future of the Company. We believe we are now well positioned, with our stronger balance sheet and more transparent capital structure, to pursue larger customers and expand our investor base.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,195.42 +221.11 1.30%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,566.1380 +16.9120 0.37%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs