EquityLine Mortgage Investment Corporation Shareholders
The information below and on this website is provided in summary form and should not be relied on as advice for investment purposes. This page provides basic facts about the share structure of EquityLine Mortgage Investment Corporation.
EquityLine has authorized and issued the following shares:
|Issued and Outstanding as of March 31, 2021|
|Unlimited voting common shares.||200|
|Unlimited Series A preferred shares, non-voting, redeemable by the Company after 24 months and retractable by the holder after 36 months at $2.00 USD per share with a right to a monthly dividend of $0.01333 USD ($0.16 USD annually).||2,683,400|
|Unlimited Series B and H preferred shares, redeemable and retractable at $10 per share with a right to an annual cumulative dividend of 8.0% paid monthly.||Nil|
|Unlimited Series F preferred shares, redeemable and retractable at $10 per share with a right to an annual cumulative dividend of 8.5% paid monthly.||Nil|
The Series A, Series B, Series H and Series F preferred shares do not carry voting rights (except as otherwise required by applicable laws and/or the Articles) and rank equally with respect to the payment of dividends and the distribution of assets of the Corporation in connection with a liquidation event.
The rights and restrictions attaching to each series of preferred shares can be found in our Offering Memorandum dated May 7, 2021.
The Corporation also has non-convertible debentures with a face value of $6,561,349 issued and outstanding as of March 31, 2021. The debentures have a carrying interest rate of 8% and are due at various dates in 2022.
In 2020 EquityLine MIC commissioned a third-party analysis of our business model (current and planned) to validate our business strategies and to remain transparent to our shareholders. Robert Baldauf ICD.D was given full access to our business over a two-month period. We believe his conclusions speak to the strength of our corporate group:
“Despite the perceived risks and challenges inherent in the investments in real estate generally, and mortgages specifically, this independent analysis concludes that the business model and financial models developed by the executive team [of EquityLine Mortgage Investment Corporation] are reasonable and sound. The elements of the model and intended outcomes and the methodology and mechanics to achieve those outcomes are in place.”
“General Conclusions about the [EquityLine] Financial Model:
- The financial outlook for the organization is effectively represented by the financial model.
- The financial outlook represents an effective and combined approach of people, process, and technology to deliver the intended results of the financial model.
- The outlook for growth is reasonable and likely achievable based on the projected capital inflows and mortgage deal flow.
- No single element of the model can succeed without the inputs and contributions of other elements.
- The financial model supports the key outcomes to shareholders, including an effective redemption policy and fixed* rate of return.”
“EquityLine Mortgage Investment Corporation Review of the Financial Model”
An independent Business Analysis
Prepared by Robert Baldauf ICD.D
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