MORTGAGEBROKERS.COM HOLDINGS, INC. Financials

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MORTGAGEBROKERS.COM HOLDINGS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS The following is management's discussion and analysis of the consolidated financial condition and results of operations of MortgageBrokers.com Holdings, Inc. for the periods ending June 30, 2009 and 2008. The following information should be read in conjunction with the consolidated financial statements for the periods ending June 30, 2009 and notes thereto appearing elsewhere in this form 10-Q. Overview MortgageBrokers.com Holdings, Inc. (the "Company", "MortgageBrokers.com", "we", "our", or "us") was incorporated under the laws of Delaware on February 6, 2003 as MagnaData, Inc. ("MagnaData"). In February 2005, we filed articles of amendments with the State of Delaware changing the name of our Company to MortgageBrokers.com Holdings, Inc. Over the past three year period, sales operations were conducted through our subsidiaries in Canada only: 1. MortgageBrokers.com Inc. - an Ontario Canada provincially incorporated company that currently holds our licensure for operating as a mortgage broker in the Province of Ontario; 2. MortgageBrokers.com Financial Group of Companies Inc. - a Canadian federally incorporated company, which currently holds our licensure for operating as a mortgage broker in the Provinces of Newfoundland, Nova Scotia, New Brunswick, Prince Edward Island and Alberta; and, 3. MBKR Holdings Inc., a Canadian federally incorporated company, on November 24, 2008 for the intended centralization of back office services in Canada. We established MBKR Franchising Inc., a Canadian federally incorporated company, on January 30, 2009 for the intended launch of MortgageBrokers.com as a franchisor in Canada. As at June 30, 2009, we had 412 licensed mortgage agents operating across Canada. The number of mortgage agents in our national sales agency at the end of the reporting period represents a 2% increase over that of the same period in 200...
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MORTGAGEBROKERS.COM HOLDINGS, INC. Files SEC form 8-K, Other Events, Financial Statements and Exhibits

Show all filings for MORTGAGEBROKERS.COM HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for MORTGAGEBROKERS.COM HOLDINGS, INC. 14-Jul-2009Other Events, Financial Statements and Exhibits 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 provi...
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MORTGAGEBROKERS.COM HOLDINGS, INC. Files SEC form 8-K, Termination of a Material Definitive Agreement, Financial Stat

Show all filings for MORTGAGEBROKERS.COM HOLDINGS, INC. | Request a Trial to NEW EDGAR Online Pro Form 8-K for MORTGAGEBROKERS.COM HOLDINGS, INC. 22-May-2009Termination of a Material Definitive Agreement, Financial Stat 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 ...
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MORTGAGEBROKERS.COM HOLDINGS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS The following is management's discussion and analysis of the consolidated financial condition and results of operations of MortgageBrokers.com Holdings, Inc. for the periods ending March 31, 2009 and 2008. The following information should be read in conjunction with the consolidated financial statements for the periods ending March 31, 2009 and notes thereto appearing elsewhere in this form 10-Q. Overview MortgageBrokers.com Holdings, Inc. (the "Company", "MortgageBrokers.com", "we", "our", or "us") was incorporated under the laws of Delaware on February 6, 2003 as MagnaData, Inc. ("MagnaData"). In February 2005, we filed articles of amendments with the State of Delaware changing the name of our Company to MortgageBrokers.com Holdings, Inc. Over the past three year period, sales operations were conducted through our subsidiaries in Canada only: 1. MortgageBrokers.com Inc. - an Ontario Canada provincially incorporated company that currently holds our licensure for operating as a mortgage broker in the Province of Ontario; 2. MortgageBrokers.com Financial Group of Companies Inc. - a Canadian federally incorporated company, which currently holds our licensure for operating as a mortgage broker in the Provinces of Newfoundland, Nova Scotia, New Brunswick, Prince Edward Island and Alberta; and, 3. MBKR Holdings Inc., a Canadian federally incorporated company, on November 24, 2008 for the intended centralization of back office services in Canada. We established MBKR Franchising Inc., a Canadian federally incorporated company, on January 30, 2009 for the intended launch of MortgageBrokers.com as a franchisor in Canada. As at March 31, 2009, we had 422 licensed mortgage agents operating across Canada. The number of mortgage agents in our national sales agency at the end of the reporting period represents a 14% increase over that of the same period in...
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MORTGAGEBROKERS.COM HOLDINGS, INC. Files SEC form 10-K, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS The following is management's discussion and analysis of the consolidated financial condition and results of operations of MortgageBrokers.com Holdings, Inc for the fiscal years ended December 31, 2008 and 2007. The following information should be read in conjunction with the audited consolidated financial statements for the period ending December 31, 2008 and notes thereto appearing elsewhere in this form 10-K. Liquidity As at December 31, 2008, we had $1,262,321 in cash; $17,848 of referral fees held in trust (which are awaiting completion of administrative agreements prior to being transferred to ManuLife administered Register Retirement Savings Plan accounts owned by RE/MAX sales agents), $116,211 in prepaid expenses, $112,184 in equipment and recognized $2,424 in equipment under capital leases for a total of $1,510,988 in assets. Comparatively as at December 31, 2007, we had $830,852 in cash, $44,936 of referral fees held in trust (which are awaiting completion of administrative agreements prior to being transferred to ManuLife administered Register Retirement Savings Plan accounts owned by RE/MAX sales agents), $148,611 in prepaid expenses, $153,474 in equipment and recognized $4,278 in equipment under capital leases for a total of $1,182,151 in total assets. As at December 31, 2008, we had $1,190,905 in accounts payable, $68,210 in accrued liabilities related to services received but not invoiced yet and employee vacation accrual, $129,425 in loans payable to a related party, $275,317 in employee tax deductions payable, $310,108 in accrued stock-based compensation, $117,385 in bank indebtedness, $17,848 in trust liability associated with RE/MAX agent referral commissions payable awaiting transfer to the agent's ManuLife RRSP account, $1,624 in obligations under capital leases, and $688,894 in accrued expenses associated with a legal judgment for a total of $2,799,716 in liabilities. Comparatively as at December 31, 200...
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MORTGAGEBROKERS.COM HOLDINGS, INC. Files SEC form 10-Q, Quarterly Report

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS The following is management's discussion and analysis of the consolidated financial condition and results of operations of MortgageBrokers.com Holdings, Inc. for the periods ending September 30, 2008 and 2007. The following information should be read in conjunction with the reviewed consolidated financial statements for the periods ending September 30, 2008 and notes thereto appearing elsewhere in this form 10-Q. Overview In operation since 2005, our Company is a mortgage brokerage operation whose national agency sales force service the borrowing and refinancing needs of individual home buyers. We have access to a full range of mortgage lenders and our agents' source and negotiate the loan with the best rates, terms and features to meet each customer's unique needs. The company acts as broker only and is not a lender. The Company has established what it believes to be unique strategic alliances within the real estate industry for mortgage origination referrals. Our national agency sales force consists of independent contractors operating exclusively under the Company's licensure who may operate regionally as individual businesses or they may establish regional retail offices from which they build agency sales teams leveraging the Company's business model. The primary services that the Company provides to our national agency sales network are: mortgage brokerage licensure; a national brand and related marketing initiatives; a regulatory compliance service associated with our agent's transactions; a payroll and commission service reconciling commission fees paid by lenders and insurers and accurate and timely payroll to our agents and their referral sources; revenue optimization for our agents through deal flow aggregation; the establishment of market partnerships to allow our agency sales network to access a greater portion of the mortgage and refinance market; and, information technology services. Our Company generates ...
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