Hudson Holding Corporation Announces 19% Six Months Revenues Increase Over Prior Year, 2% Decrease For Three Months

JERSEY CITY, N.J., Nov. 16 /PRNewswire-FirstCall/ -- Hudson Holding Corporation (OTC Bulletin Board: HDHL - News) announced that it filed its results for the fiscal quarter ended September 30, 2009 with the Securities and Exchange Commission today. "While we're pleased with the 19% increase in six month year-to-date revenue growth that Hudson achieved over the prior year, we have initiated a firm wide review of our business in an effort to improve margins." said Tony Sanfilippo, Hudson's Chief Executive Officer. "We continue to expand our institutional sales effort and to pursue a variety of strategic opportunities, including expansion of some of our current business lines. This will be facilitated by our recently completed $4.3 million financing from our stakeholders. Our loss this quarter is largely attributable to costs driven by our expansion and certain non cash charges incurred in connection with our recent change in management." Three Months Ended Six Months Ended September 30, September 30, ------------------ --------------- (unaudited) 2009 2008 2009 2008 ---- ---- ---- ---- Sales and trading $4,751,679 $6,116,833 $10,661,059 $9,634,720 Commissions and fees 4,539,240 3,242,767 10,133,528 7,488,220 Net interest and other income ...
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HUDSON HOLDING CORP Files SEC form 10-Q, Quarterly Report

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of Hudson Holding Corporation and Subsidiaries' (the "Company") condensed consolidated financial condition and results of operations should be read in conjunction with the condensed consolidated financial statements and notes thereto appearing elsewhere herein. This report contains various forward-looking statements made pursuant to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 (the "Reform Act") and information that is based on management's beliefs as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. When used in this report, the words "anticipate", "believe", "estimate", "expect", "predict", "project", and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date hereof, and should be aware that the Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including business conditions, growth in the overall market for the Company's services, general economic conditions, lower than expected customer transactions, competitive factors including increased competition, changes in the mix of business, and resource constraints and other statements under "Risk Factors" set forth in our Form 10-K for the year ended March 31, 2009 and other filings with the Securities and Exchange Commission (the "SEC"). Any forward-looking statements regarding industry trends, product development and liquidity and fut...
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Hudson Holding Corporation Raises $4.3 Million In Private Placement Signaling Important Stakeholder Support

JERSEY CITY, N.J., Nov. 13 /PRNewswire-FirstCall/ -- Hudson Holding Corporation ("Hudson"); (OTC Bulletin Board: HDHL - News) announced that on November 12 , 2009 it had completed an initial closing on its private placement offering of $4,337,500 million of its common stock at a purchase price of $0.25 a share.. The offering was subscribed by several existing shareholders and certain officers, directors and employees, including its new CEO, Tony Sanfilippo. In connection with the financing, Hudson issued 17,350,000 shares of common stock. The Company also entered into a registration rights agreement with the investors that provides for two "demand" registrations at the Company's expense. As a result of the financing, Hudson's working capital now exceeds $10.6 million and the net capital of its Hudson Securities, Inc. broker dealer subsidiary now exceeds $ 9 million. The Company intends to use the proceeds for working capital purposes, to further strengthen its capital position and to facilitate additional recruitment at its broker dealer subsidiary, Hudson Securities. "I am pleased that our key stake holders - existing shareholders, directors and employees - have chosen to validate our business model," said Tony Sanfilippo, Hudson's Chief Executive Officer. "Building a reserve of working capital will permit Hudson to pursue the recruitment of additional proven producers and a variety of strategic opportunities, including the expansion of current business lines."The private placement was made exclusively to acc...
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HUDSON HOLDING CORP Files SEC form 8-K, Change in Directors or Principal Officers, Financial Statements and Exhibits

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory arrangements of certain officers. On October 12, 2009, Martin C. Cunningham resigned as Chief Executive Officer and as Chairman of the Board and a director of Hudson Holding Company (the "Company"). Mr. Cunningham's departure was not the result of a disagreement with the Company. Mr. Cunningham entered into a Termination Agreement dated October 12, 2009 with the Company which terminated his employment with the Company and his membership on the Board of Directors as of October 12, 2009. The Termination Agreement provides that Mr. Cunningham will receive the balance of the salary due to him under his Employment Agreement of $475,000 payable $200,000 on October 12, 2009, and the $275,000 balance in twelve monthly installments, with the Company's obligation to make such payments secured by a Note. The Company will also pay on behalf of Mr. Cunningham all applicable premiums towards COBRA continuation coverage until December 31, 2011 unless he is eligible for other comparable medical insurance before then. The Termination Agreement also provides that for a twelve month period, Mr. Cunningham will not solicit employees of the Company or certain designated customers of the Company. On October 12, 2009, Anthony M. Sanfilippo entered into an Employment Agreement (the "Employment Agreement") with the Company to become the company's new Chief Executive Officer and Chief Executive Officer of the Company's subsidiary, Hudson Securities, Inc. at a salary of $275,000 per annum, with a grant of 2,500,000 shares and a grant of 2,500,000 options exercisable at a price of $0.50 per share. The term of the Employment Agreement is three years. Twenty-five (25%) of each of the stock grant and options grant vest immediately upon grant, with the balance vesting over three years. In the event of a Change of Control, all unvested stock and options vest immediate...
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Hudson Hires Veteran Securities Industry Professional Tony Sanfilippo as CEO

JERSEY CITY, N.J., Oct. 12 /PRNewswire-FirstCall/ -- Hudson Holding Corporation (OTC Bulletin Board: HDHL - News), parent of Hudson Securities, Inc., today announced that it has hired veteran securities industry professional Tony Sanfilippo as its Chief Executive Officer (CEO). Mr. Sanfilippo has over 30 years' experience in the financial services industry. He joins Hudson from Etico Capital, a boutique merchant bank he co-founded in 2007. Prior to starting Etico, he served as head of US equity trading for Jefferies & Co. Previously, Mr. Sanfilippo was Interim Chief Executive Officer of Knight Trading Group, and served as President and CEO of Knight Capital Markets. Mr. Sanfilippo joined Knight when Tradetech Securities, a Company he founded and managed as President and CEO, was acquired by the Trimark Division of Knight. Mr. Sanfilippo's current industry associations include serving as a Director of the National Organization of Investment Professionals and a governor of the Securities Trader Association. He is a past board member of Nasdaq Europe and Knight Trading Group.Mr. Sanfilippo stated, "I am excited to have the opportunity to continue to build upon the strong trading platform in place at Hudson. I will draw on my experience of building both global and domestic businesses in various size firms, to develop existing as well as new business lines at Hudson. The market environment the past year has allowed many small and medium size firms to attract quality human capital and increase their value proposition and ...
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SteelCloud Engages Westminster Securities to Offer Shares to the Market

HERNDON, Va., Sept. 11 /PRNewswire-FirstCall/ -- SteelCloud, Inc. (Nasdaq: SCLD - News), a leading developer of mobility appliance software, today announced that it entered into an agreement with Westminster Securities, a Division of Hudson Securities, Inc. (OTC Bulletin Board: HDHL - News), to offer the shares of common stock and accompanying warrants that SteelCloud is registering with the Securities and Exchange Commission pursuant to a Registration Statement on Form S-1. The Company's officers and directors also have the right to offer the shares of common stock and accompanying warrants directly. "Putting the Company into a position in which it can raise capital has been one of our top priorities over the last six months," remarked Brian Hajost, SteelCloud President and CEO. "While there can be no assurances, with Westminster now on the team, we are confident that we will have a successful offering. We continue to build the foundation for accelerated growth in our product line for BlackBerry mobile technology."The foregoing description of the offering being made is included only for informational purposes in connection with this press release and does not constitute an offer to sell or a soli...
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HUDSON HOLDING CORP Financials

Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback Quotes delayed, except where indicated otherwise.Delay times are 15 mins for NASDAQ, 20 mins for NYSE and Amex. See also delay times for other exchanges.Fundamental company data provided by Capital IQ. Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page. Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. Real-...
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HUDSON HOLDING CORP Files SEC form 10-Q, Quarterly Report

ITEM 2: MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of Hudson Holding Corporation and Subsidiaries' (the "Company") condensed consolidated financial condition and results of operations should be read in conjunction with the condensed consolidated financial statements and notes thereto appearing elsewhere herein. This report contains various forward-looking statements made pursuant to the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 (the "Reform Act") and information that is based on management's beliefs as well as assumptions made by and information currently available to management. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, the Company can give no assurance that such expectations will prove to be correct. When used in this report, the words "anticipate", "believe", "estimate", "expect", "predict", "project", and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements which speak only as of the date hereof, and should be aware that the Company's actual results could differ materially from those contained in the forward-looking statements due to a number of factors, including business conditions, growth in the overall market for the Company's services, general economic conditions, lower than expected customer transactions, competitive factors including increased competition, changes in the mix of business, and resource constraints and other statements under "Risk Factors" set forth in our Form 10-K for the year ended March 31, 2009 and other filings with the Securities and Exchange Commission (the "SEC"). Any forward-looking statements regarding industry trends, product development and liquidity and fut...
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HUDSON HOLDING CORP Files SEC form 10-K, Annual Report

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations Introduction and Certain Cautionary Statements The following discussion and analysis of our financial condition and results of operations is intended to assist in the understanding and assessment of significant changes and trends related to the results of operations and financial position of the Company. This discussion and analysis should be read in conjunction with the consolidated financial statements and the accompanying notes. Certain Factors Affecting Results of Operations We may experience significant variation in our future results of operations. These fluctuations may result from numerous factors, many of which are outside of our control. These factors include, among other things, introductions of or enhancements to trade execution services by us or our competitors; the value of our securities positions and other instruments; the volume of our trade execution activities; the dollar value of securities traded; the composition of our order flow; volatility in the securities markets; our market share with institutional and broker-dealer clients; our ability to manage personnel, overhead and other expenses, including our occupancy expenses under our office leases and expenses and charges relating to legal and regulatory proceedings; the strength of our client relationships; changes in payments for order flow and clearing, execution and regulatory transaction costs; and market and economic conditions. Such factors may also have an impact on our ability to achieve our strategic objectives,. If demand for our services declines due to any of the above factors, and we are unable to adjust our cost structure on a timely basis, our operating results could be materially and adversely affected. As a result of the foregoing factors, period-to-period comparisons of our revenues and operating results are not necessarily meaningful and such comparisons cannot be ...
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HUDSON HOLDING CORP Files SEC form 8-K, Entry into a Material Definitive Agreement

Show all filings for HUDSON HOLDING CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for HUDSON HOLDING CORP 4-May-2009Entry into a Material Definitive Agreement Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes on...
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