Mill City Ventur Stock Price, News & Analysis

Mill City Ventures III, (NASDAQ:MCVT) reported its 2024 second quarter financial results, showing mixed performance. Pre-tax earnings from lending operations increased by 45% to $490,570 in Q2 2024, compared to $337,457 in the prior-year period. For the six-month period, pre-tax earnings reached $962,150, resulting in earnings per share of $0.12, a significant improvement from a loss of $(0.10) per share in the prior year.

However, investment income from lending operations decreased slightly by 2% to $888,629 in Q2 2024, and by 3% to $1.72 million for the six-month period. Shareholder equity increased to $19.4 million, and the company's cash position improved significantly to $5.4 million as of June 30, 2024. CEO Douglas Polinsky expressed optimism about future investment opportunities and the company's potential for growth in providing short-term liquidity to borrowers and long-term returns to shareholders.

Mill City Ventures III (NASDAQ: MCVT) released its Q1 2024 results on May 16, 2024. The company reported steady interest income from lending operations at $832,667, compared to $864,028 in Q1 2023. Pre-tax earnings improved significantly to $471,580 from a loss of $(1,025,767) in the prior-year period, resulting in net earnings of $0.06 per share, up from a loss of $(0.12) per share. Shareholder equity rose to $18.97 million from $18.59 million as of December 31, 2023. CEO Douglas M. Polinsky highlighted Mill City's focus on profitability and future strategic opportunities in areas like real estate bridge loans, title loans, insurance claims, litigation financing, and business acquisitions.

Mill City Ventures III, Ltd. (MCVT) reported significant financial growth for the year ending December 31, 2022. Key highlights include:

• Investment income from lending operations rose 58% to $4.2 million from $2.7 million in 2021.
• Pre-tax earnings were $316,506 for the fourth quarter, with a full-year increase to $1.4 million, up 10.6%.
• Shareholder equity surged 36.7% to $18.3 million.

The company also anticipates the closing of a merger with Mustang Litigation Funding in the second half of 2023. CEO Douglas M. Polinsky noted the transformative year and ongoing focus on providing tailored financing solutions.

Mill City Ventures III, Ltd. (NASDAQ:MCVT) has secured a $1.2 million loan through a short-term promissory note with a maturity of 120 days. This financing is anticipated to yield an impressive 33.6% annualized return. The loan is collateralized by the borrower's finance business assets. CEO Douglas M. Polinsky remarked on the company's positive relationship with the borrower, which has previously benefited from Mill City’s lending solutions. Mill City, established in 2007, specializes in short-term non-bank lending and finance solutions, with more details available at their website.

Mill City Ventures III (NASDAQ:MCVT) announced a $2.5 million bridge loan to a multi-family real estate project, which is expected to mature in six months. The loan promises an 18% current return and is secured by personal guarantees from the principal owners of the borrower. CEO Douglas M. Polinsky noted the loan reflects Mill City's capacity to respond swiftly to customer needs, delivering favorable terms. Founded in 2007, Mill City is a non-bank lending and specialty finance company.

Mill City Ventures III, Ltd. (NASDAQ:MCVT) has entered into a short-term financing arrangement of $5 million with Mustang Funding, LLC, as part of their ongoing merger process. This loan, which will mature in nine months, aims to provide Mustang with immediate liquidity and marks a significant step toward the anticipated merger between the two companies. CEO Douglas M. Polinsky expressed optimism about the transformative potential of the merger, while Mustang President Jimmy Beltz highlighted the importance of this collaboration for growth.

Mill City Ventures III, Ltd. (NASDAQ:MCVT) announced a non-binding letter of intent to merge with Mustang Funding, LLC, a litigation finance company. This transaction will allow Mustang owners to acquire 80% of Mill City’s post-transaction shares. The merger is contingent on due diligence, financing conditions, and approval from both companies' shareholders. Mustang Funding specializes in providing capital solutions for law firms and plaintiffs, which will expand Mill City’s market presence.

Mill City Ventures III (Nasdaq:MCVT) has announced the funding of an $855,000 settled insurance claim. The related short-term note is set to mature in 120 days, offering an annualized return of 33.5%. CEO Douglas M. Polinsky highlighted the growing need for alternative financing solutions due to rising inflation and interest rates, suggesting that small- and medium-sized businesses face significant capital access challenges. Mill City's ability to create quick financing options is positioned as a growth driver.