Inspira Financial Inc. : Penny Stock Fun and Profits ?

Inspira Financial Inc. Releases Quarterly Results; Update on Loan Book and Operations

Marketwired

WALNUT CREEK, CALIFORNIA–(Marketwired – Oct 29, 2015) – Inspira Financial Inc. (TSX VENTURE:LND) (“Inspira”) today announced results from the quarter ending August 31st, 2015.

After securing more than $25 million in public equity financing, as well as debt financing privately and through the issuance of public debentures, Inspira launched full operations in February 2015 into the fragmented marketplace of small companies in the large and growing market for alternative financial services offered to healthcare providers and their patients across the United States.

Inspira’s initial product offering addresses the needs of a $1 trillion market of small healthcare providers across the U.S. Inspira currently offers several types of financing options for small businesses in the industry, including:

  • 3-year revolving lines of credit and loans ranging from $250,000 to $5 million with total interest and fees ranging from 12%-18%;
  • 90-day to 1-year revolving lines of credit and loans ranging from $5 million to $15 million with interest rates ranging from 8%-14%; and
  • 90-day to 1-year introductory lines of credit for up to $250,000 often used to initiate a relationship with a customer before moving to a larger and longer term line of credit.

Financial and Business Highlights:

  • End of September 2015 loan book in excess $50 million, as compared to $35 million at the end of May 2015.
  • Generated annualized (interest and fee) revenue of approximately $4 million in August 2015.
  • Generated operational profit of approximately $465,000, not including one-time origination fees for the quarter ending August 31, 2015.
  • Created a proprietary online tool for credit line applications, due diligence and loan management.
  • Established several origination channels, ranging in cost (in one-time fees) from 0.25% to 1.5% of the initial loan.
  • Responded to over 200 inquiries and applications for loans and lines of credit since full launch in February 2015.
  • Management reasserts its goal of a $500 million loan book with no further equity financings, assuming fully- diluted capitalization and 80% leverage.

“Since we finalized our financing we have been able to ramp our loan book quickly with a very small, but focused, team,” said David Costine, CEO of Inspira. “In just seven months we’ve built a loan book of over $50 million and generated an operational profit of $465,000 just this quarter,” continued Mr. Costine. “Our annuity stream revenue gives me confidence that our quarter-over-quarter growth will remain strong and we continue to invest heavily in origination partners as well as internal staff and are seeing these investments pay off as we increase our growth rate every quarter to achieve our goal of a $500 million loan book.”

“We’re starting to develop good momentum in several areas in this market,” continued Mr. Costine. “Our primary focus continues to be lines of credit in the million dollar range with yields as high as 18% and our strategy of offering small, introductory loans to catalyze our loan book as well as larger, short-term loans to generate strong cash flows appear to be working. As we grow, we expect to continue broadening our offerings and have recently ramped up our efforts to identify accretive acquisitions that can move our loan book size to over $100 million.”

Related Quotes

About Inspira Financial and the Fast Growing Market

The healthcare market in the U.S. is a rapidly expanding industry, with spending expected to exceed $4.5 trillion by 2020. Within this industry, over 1 million businesses have annual revenues in the $1 million to $50 million range. The emerging reimbursement trend towards more usage-based procedures, along with the fact that healthcare providers are being forced to increase patient volumes to maintain or grow profit levels, creates a need for increased efficiency and greater front-end investment in technology and larger staff sizes. These factors, as well as the realities that insurance providers are taking longer to pay than before and that patients are now bearing increased financial responsibility for medical bills, contribute to significant financial pressure and net working capital challenges for the average, smaller sized healthcare practice in the U.S.

Overall, traditional banks continue to reduce their risk profiles, term lenders require personal guarantees and first security over all assets, factoring lenders charge 25%+ annual interest and equipment providers have all but eliminated financing programs. The increasingly limited number of options for obtaining revolving lines of credit and loans for smaller healthcare providers creates a supply shortage in the market. This imbalance represents an opportunity for alternative lending companies catering to this demographic to capitalize upon. By targeting the 1 million+ healthcare providers in the U.S., Inspira believes it can generate high returns on government (Medicare/Medicaid) and large healthcare insurance receivables. Inspira plans to acquire debt and increase profitability through cross selling of financial services.

Advertisements

Gaga Over Amazon’s Blockbuster Earnings Report

Amazon Readies Kindle Fire Update to Keep Up With Apple, Google

Shares of Amazon.com Inc. spiked in the after-hours session on Thursday, with the firm reporting a surprising third-quarter profit on better than anticipated sales.

The more than double-digit gains propelled Jeff Bezos, chief executive officer of the e-commerce and cloud computing company, to third on the list of America’s richest people.

The strength of Amazon’s quarterly results can be judged not only by the jump in Bezos’ net worth, but also by the effusive praise these numbers inspired.

Commentary from analysts show that they believe the company’s performance and growth prospects are robust, as well as increased faith that Bezos’ intense expansion plans, which crimped on profitability in the past, will continue to bear fruit going forward:

Morgan Stanley‘s Brian Nowak (Overweight, Price target to $750 from $740)

Amazon’s 3Q results reinforce our view that the company’s business is inflecting around the globe as YoY ex FX revenue growth in all 4 of its main retail segments accelerated…for the 3rd straight quarter. Retail gross profit dollars per customer – which we view as a proxy for retail same store sales – accelerated to 27% growth…the fastest growth in company history and 2.5X higher than the long-term ~11% average rate… In effect, we see AMZN’s accelerating SSS growth leading to a period of sustained, rising profitability.

Stifel‘s Scott Devitt (Buy, Price target to $750 from $700)

Winning in All Facets of the Game. We believe the company has emerged from its recent investment cycle well-positioned to extend its competitive advantages through the Prime platform, enhanced logistics and AWS services. The rapid adoption in Prime membership has been a boost to NA retail and is in the early stages of driving international retail… Overall we believe this quarter’s results indicate that Amazon has reached a critical level of scale which allows it to build a robust global ecosystem while maintaining profitable top-line growth.

Goldman Sachs‘ Heath Terry (Buy, Price target to $760 from $680)

We believe this quarter is further evidence that Amazon’s investment in infrastructure, logistics, and web services is accelerating market share gains, cash flow growth, and continued high returns on invested capital.

Nomura‘s Robert Drbul (Buy, Price target $700)

We do not expect investment spending to abate, especially in Prime and AWS, but believe the company has proven that profits can be realized regardless. We expect AMZN to simultaneously focus on cost reduction and efficiency, and believe that continued strong revenue growth (~20% in FY15-17) will support the profit equation.

Barclays‘ Paul Vogel (Overweight, Price target $700)

Although margin outperformance was the center of attention, Amazon’s core retail business out performed expectations as well, led by continuing acceleration of International revenue and aided by Prime. Both North American and International EGM growth, on an fxneutral basis, have accelerated in each quarter this year, with EGM now comprising 79% of North American Revenues and 71% of International Revenues.

Jefferies‘ Brian Pitz (Buy, Price target $730)

After speculation for about 1.5 years that Amazon might in-source last-mile fulfillment, it seems the company is getting serious about this. According to media reports, Amazon has hired an executive search firm to build a management team to lead the effort. We believe this is Amazon’s next major step in its evolving fulfillment strategy which is focused on reducing friction for shoppers by offering better selection, product availability, & high service levels…As the company enables a mix of all these expedited delivery services into the top 50 US markets, traditional retailers with slower and more expensive shipping options should be feeling increasing pressure and start losing market share.

Raymond James‘ Aaron Kessler (Strong buy, Price target to $745 from $640)

Amazon reported strong 3Q revenues driven by accelerating retail sales (in part driven by Prime Day) and continued AWS outperformance (78% y/y). Additionally, Amazon continued to see significantly improved margins for North America retail and AWS (non-GAAP OM increased ~400 bp y/y ). Given the strength, we are increasing our 2015/2016 non-GAAP operating income by ~11/6% and believe estimates could prove conservative.

Macquarie‘s Ben Schachter (Outperform, Price target to $740 from from $660)

The bottom line is that AMZN continues to deliver against the long-term bull thesis: increasing share, rising margins. Finally, something notable this earnings season thus far is that EBAY, AMZN, and GOOG have all highlighted growth in India (AMZN has tripled fulfilment capacity y/y). While not quantified, these companies are all seeing an uptick meaningful enough to highlight.

Deutsche Bank‘s Ross Sandler (Buy, Price target to $725 from $665)

Retail is charging into 4Q with 75m+ prime members globally (DB est). We think shares can drift higher in the near-term, but admittedly are due a breather as margins level out a bit in 2016, which we don’t think will come as a surprise…Try as we might, we struggle finding anything to nitpick. The obvious point would be that 4Q guidance was below Consensus, but this was largely expected by the buy side.

Moving your money offshore ? Read http://www.youroffshoremoney.com

Oil 5 Talking Points – All Point to Lower for Longer ?

 

Oil’s bounce back from the summer’s lows has the look of a bottoming in crude prices, but some strategists say the shakeout is not over.

“I’m pretty sure we’re going to see a new low. The probabilities are that we see a new low or two or three,” said Jack Bass. Our 2015 results for managed accounts all did well by avoiding oil and natural gas and that continues to be our bias.

The negative factors that have pounded oil prices continue to hang over the market, and the world is still facing oversupply of about 2 million barrels a day. Strategists say the chief wild card that could send oil to new lows is Iran — and uncertainty about when and how fast it can bring crude back to the market.

This past summer, West Texas Intermediate crude futures touched a low near $38 in late August before moving back to $50 per barrel on Oct. 9. Since then, oil has traded in the upper $40s, giving the impression the worst lows of the bear market in crude are over. Brent, the international benchmark, hit a low at around $42 per barrel in August and temporarily rose above $54 in October.

“There was a bout of short covering, and oil was pumped up on geopolitical fears about Russia’s foray into Syria, but the fundamentals never changed. Production is still high all around the world, and the glut is getting worse, especially for diesel fuels,” said John Kilduff of Again Capital.

1. Iran as a catalyst

Major producers continue to pump at high levels, and demand continues to lag. U.S. shale producers have more resilience than expected, and the U.S. is still producing about 9 million barrels a day.

But it’s Iran’s oil production that some analysts say the market may not be pricing correctly. They also say Iran may be making blustery assertions about its oil production that it will not be able to meet.

The U.S. and five other nations agreed in July to lift sanctions against Iran in return for curbs on its nuclear program, and this past Sunday the agreement was formalized based on Iran’s meeting its commitments to the deal.

An Iranian official this week said the country has already secured buyers from Europe and Asia for more than 500,000 barrels a day in new exports once sanctions are lifted. The final assessment by the International Atomic Energy Agency is expected to be completed by Dec. 15.

“If they put that marginal barrel onto the market, there’s going to be a price impact from it. The Saudis have taken a lot of their market share from Europe in the last couple of years,” said Michael Cohen, head of energy commodities research at Barclays. “It’s going to be a fine balance. I wouldn’t be surprised at the end of 2016 if we look back at the end of the last year and be surprised that they put only 400,000 to 500,000 barrels back on the market, not 800,000 to 900,000 barrels.”

Iran has been producing about 2.8 million barrels a day, from a high of 4.2 million barrels, according to Andrew Lipow of Lipow Oil Associates. “It would surprise me to see 500,000 a day come out onto the market within a couple of months,” he said. “The market takes what they say with a grain of salt. We do know that they are going to be exporting the first minute they can.”

It could be the start of Iran’s oil returning to market that sends oil prices back to the lows, said Citigroup’s Morse. He said the oil market could hit bottom late this year or in the first quarter, but he does not expect Tehran to be able to quickly push the volume of new oil that it is promising.

“These shut-in wells have been building pressure. They can surge production beyond what is sustainable, and if they want to show the world they are there, which is highly likely, that is possible,” he said. Morse said he expects Iran could produce 300,000 to 500,000 barrels a day more within a half year of sanctions being lifted.

Iran also has about 40 million barrels of condensates in floating storage. “I just think the market has underestimated how much oil could come back on the market immediately upon having sanctions released,” Lipow said.

2. Inventories bulging

A second thorny issue for the market is buildup of inventories. Last week U.S. government data showed a surge in crude stocks of 7.6 million barrels of oil, but it is also the buildup of refined products that analysts are watching.

Barclays, in a report, said that global refinery runs grew faster than demand by about 57 percent during the second and third quarter. That created a buildup, pushing refined products into storage in offshore tankers.

Refining capacity has been added around the globe. Saudi Arabia, for instance, shipped less crude in August but more refined oil products. According to JODI data, Saudi Arabia exported 1.3 million barrels a day of refined product, compared to 1.1 million barrels the month earlier.

The U.S. has also increased refined-product exports as well and is a net exporter of about 2 million barrels a day. Barclays expects the rate of build in refined products to slow.

“Fundamentally speaking, we remain in an oversupply situation, and refining margins are weak and likely to get weaker, especially in distillates, and the stocks remain at high levels,” said Cohen. “So any sustained price move tot he upside is going to be met by with skepticism by the market and that’s why we continue to maintain our range bound price forecast at least until the third quarter of next year.”

3. U.S. shale gale

A third bearish factor for oil has been, and continues to be, the resilience of the U.S. oil industry. Saudi Arabia and OPEC vowed last fall to continue producing and to allow the market to set prices in an oversupplied world, a factor they were hoping would curb non-OPEC production.

But U.S. production, despite shut-in rigs, has not fallen that much. Analysts had been expecting some companies to lose some funding in bank redeterminations this month, but it seems the industry is doing better than expected, and the impact is relatively minor.

“We think for WTI there’s downside risk for the first quarter based on the fact we think U.S. production may not roll over like people think,” said Cohen. “We need to see prices go lower as a disincentive.”

Analysts now expect the companies facing lending reviews to have a difficult time in the spring after more months of low oil prices. The U.S. industry is made up of so many companies drilling so many unconventional wells that the trigger of falling prices is not an automatic one, since producers are profitable at all different levels.

“High-yield companies are well-hedged through the first quarter, and then their hedges go off, and it’s not clear they have the cash flow to keep drilling,” said Morse.

Cohen said the pressure from a long period of low prices will pinch companies. “U.S. production is likely to be lower,” he said, adding the hit to shale producers will be worse next year after several more quarters. “It will be worse, not just for those that have their borrowing base redetermined.”

4. Biggest producers producing

Russia and Saudi Arabia are the world’s biggest oil producers, and both of them have taken a full-throttle approach to lower prices in an effort to gain or hold share.

Saudi Arabia led OPEC in its plan to use market pricing as a weapon to slow overproduction. When OPEC meets in early December, analysts see little chance of a change in policy.

In fact, rhetoric around that meeting could add downward pressure on prices.

“The Saudis have been adding more to inventories. I don’t really see them backing down from the 10 million-barrels-a-day production level. They continue to be open to a cut if other producers are willing to cut first,” said Cohen. “They’ve taken a very tit-for-tat approach. They want to see a plan and a credible plan before doing anything.”

The strain of low prices is wearing on both Russia and Saudi Arabia. “They (Saudi) can shield the blow by issuing more debt, which they have done,” Cohen said. “The amount of debt they are issuing this year is basically the equivalent of a $10 bump in oil prices.”

Morse said the producers will not be able to sustain production in a low-price environment forever. “Definitely at some point, in the winter of 2016/2017, it looks like the world moves into a net inventory drawdown, helped by U.S. shale, helped by production in Mexico, the North Sea, Oman, Russia … all showing decline rates instead of staying stable,” he said.

5. World demand

Oversupply hit the world market at the same time demand from the emerging world and China was dampened. China reported GDP of 6.9 percent for the third quarter just below last quarter’s 7 percent pace, but worries about Chinese growth and demand have pressured prices.

The World Bank this week said it expects oil prices to remain weak through next year, and it cut its expectations for crude. The World Bank’s quarterly commodity sector report pared its average oil price forecast to $52 per barrel this year from an earlier estimate of $57. It sees an average price of just $51 in 2016.

The Bank said Iran’s return to the market will dent oil prices, but it also noted weak global growth.

“All main-commodity price indices are expected to decline in 2015, mainly owing to ample supply and, in the case of industrial commodities, slowing demand in China and emerging markets,” the Bank said.

Besides overproduction, high inventories and weak demand, Morse said another factor that could weigh on prices are the speculative investors who could slam the oil price once Iran brings oil back onto the market.

He said WTI could average $40 per barrel in the fourth and first quarters, and Brent could average about $44. Barclays expects Brent to average $53 per barrel in the fourth quarter and $63 in 2016 after a recovery in prices in the second half.

 

November 2014 – How Did We Do On Our Stock Market Forecast ?

JACK A. BASS MANAGED ACCOUNTS – YEAR END UPDATE AND FORECAST  As written – November 2014 – 40 % cash position You Can Judge : Our 2014 Year End Review and Forecast Gold and Precious Metals The largest gains for our … Continue reading

Posted in Asset Protection, Best Tax Haven, Gold, Jack A. Bass Managed Accounts, Jack A.Bass, Offshore Incorporation, Offshore Investing, Portfolio Management, Tax Havens, Tax Jurisdiction, tax secrecy, Tax strategy,Trusts, Wealth Advisor, Wealth management | Tagged , , | Leave a comment | Edit

 

Iran – Oil sanctions to be lifted in late 2015 or early 2016 – Adding 2 Million Barrels A Day

Iran has said it will offer about 50 energy projects to investors and plans to boost output by about 2 million barrels a day once the deal is in place.

Sanctions against Iran probably will be lifted within the first three months of 2016, after the International Atomic Energy Agency has confirmed the nation has curtailed its nuclear work, diplomats said last month. Once the restrictions are removed, relief is expected to fuel economic growth by lowering barriers to Iran’s oil exports and ending the isolation of its banks.

Iranian Oil

Iran has said it will offer about 50 energy projects to investors and plans to boost output by about 2 million barrels a day once the deal is in place. The Persian Gulf nation, with the world’s fourth-largest oil reserves, pumped 2.8 million barrels a day last month, according to data compiled by Bloomberg.

One nation, Japan, plans to triple its imports of Iranian crude once sanctions are lifted, the Iranian Oil Ministry’s Shana news agency said on Saturday, citing Seyed Mohsen Ghamsari, director of international affairs at National Iranian Oil Co. Japan will increase purchases to 350,000 barrels a day from 110,000 barrels, the agency said.

The U.S. waivers will result in the lifting of sanctions that now restrict or penalize non-U.S. companies for engaging in various economic activities, including buying Iranian oil and dealing with many Iranian banks, the U.S. officials said.

Narrow Categories

But for U.S. companies, sanctions will be eased only for certain narrow categories, the officials said. They said these include the export of civilian passenger aircraft, the import of spare aircraft parts and handicrafts from Iran, and some activities that subsidiaries of U.S. companies can conduct overseas.

In addition, Obama told reporters on Friday that sanctions “related to ballistic missiles, human-rights violations, terrorism — those, we will continue to enforce.”

In another sign of progress, IAEA monitors last week ended their 12-year investigation into the possible military dimensions of Iran’s nuclear past. Inspectors now have until Dec. 15 to draft and present a final assessment of their inquiry.

Iran’s nuclear work has been the focus of international scrutiny since February 2003, when Iranian officials told inspectors visiting Tehran of their plans to begin enriching uranium on an industrial scale. Subsequent discoveries that Iran had secretly procured nuclear materials and technologies led to years of mistrust. In May 2008 and again inNovember 2011, the IAEA publicly disclosed its suspicions about Iran’s activities.

Iran has consistently denied ever seeking a nuclear weapon.

Timeline to lifting sanctions:

  • Sunday — “Adoption Day” for July accord signed with world powers. Parties to the agreement begin meeting their commitments.
  • Nov. 30 — Iran prepares to end testing of advanced centrifuge cascades and store machines under IAEA seal.
  • Dec. 15 — IAEA to present its assessment of Iran’s past nuclear activities, which board will use “with a view to closing the issue.”
  • Late 2015-early 2016 — Oil sanctions to be lifted on “Implementation Day.” U.S. officials have suggested it will take at least two months from “Adoption Day” to reach this point.

    Saudi Arabia, the world’s largest oil exporter, is storing record amounts of crude in its quest to maintain market share as it cut shipments.

    Commercial crude stockpiles in August rose to 326.6 million barrels, the highest since at least 2002, from 320.2 million barrels in July, according to data posted on the website of the Riyadh-based Joint Organisations Data Initiative. Exports dropped to 7 million barrels a day from 7.28 million.

    “The fall in Saudi crude exports reflects the market reality,” Mohammed Ramady, an independent London-based analyst, said Sunday by phone. “It’s normal to see this fall knowing that the market is becoming highly competitive, with many countries in OPEC selling at discounts and under-pricing the Saudi crude.”

    Crude inventories have been at record highs since May, a month before Saudi Arabia’s production hit an all-time high of 10.56 million barrels a day. The nation has led the Organization of Petroleum Exporting Countries in boosting production to defend market share, abandoning its previous role of cutting output to boost prices.

Reduce your taxes by going offshore Read more at http://www.youroffshoremoney.com

Gold Comes Back To Life

  • Weak economic data signal Fed may delay rate rise till 2016
  • Strength in gold market is going to stay for a while: Sumitomo

Gold is starting to shed its reputation as a dead asset, and bulls can thank signs the U.S. economy is starting to sputter for the boost.

The metal was little changed at $1,184.18 an ounce by 10:28 a.m. in London after climbing above its 200-day moving average on Wednesday for the first time in about five months. Prices touched the highest since June 22 yesterday and investors bought the most through gold-backed funds since August.

A gauge of U.S. inflation fell by the most since January and retail sales missed forecasts, increasing traders’ bets the Federal Reserve will delay raising rates until next year. That’s good news for gold, which loses out when borrowing costs rise because the metal doesn’t pay yields, unlike competing assets.

“The last couple of the months we’ve seen a real sort of deterioration in U.S. data and a realization by the market that the Fed probably missed its window to hike in 2015,”Jordan Eliseo, chief economist at trader Australian Bullion Co. in Sydney, said by phone. “That’s obviously scared a few investors who were short gold out of their positions.” The market’s strength and better technical picture are also encouraging some investors to go long, he said.

Investors now see about even odds of that rates will increase by April next year, with the chance of liftoff this month plunging to 4 percent from 10 percent in just 24 hours, futures trading shows. Gold surged 70 percent from December 2008 through June 2011 as the U.S. central bank fanned inflation fears by purchasing debt and holding borrowing costs near zero percent in a bid to shore up growth.

Sentiment Boost

“Crossing the 200-day moving average is very important in terms of short-term sentiment for gold,” Dan Smith, a senior adviser at Oxford Economics, said by phone from London. “Gold is looking a lot more lively now than it had been for a while.”

The weak dollar and physical demand from China and India are also supporting bullion, Bob Takai, the chief executive officer and president of Sumitomo Corp. Global Research, said from Tokyo. The greenback is near its lowest in more than three months.

Holdings in gold-backed exchange-traded products climbed for a fourth day, rising 7.5 metric tons, the most since Aug. 26, data compiled by Bloomberg show. Investors held 1,537.7 tons as of Wednesday, the most since July.

Silver was little changed at $16.13 an ounce in London. Platinum increased 0.4 percent to $1,002.50 an ounce and palladium added 0.3 percent to $702.05 an ounce.

Lying Husbands + Bigger Divorce Payouts = Asset Protection Trusts

divorce court cartoon humor: Outside the Divorce Court.

 

London re-staked its claim to be the divorce capital of the world as the U.K.’s highest court ruled two ex-wives are entitled to larger divorce settlements because their husbands hid their true wealth.Asset Protection Trusts are the answer before and after divorce settlements.

Alison Sharland, whose husband Charles Sharland co-founded software company AppSense Ltd., originally received 10.3 million pounds ($15.8 million) as part of a settlement. She later found he had been having discussions with investment bankers about an initial share sale, valuing it much higher than originally claimed.

“By the husband’s fraud and the judge’s order, she had been deprived of her right to a full and fair hearing,” Judge Brenda Hale said handing down the ruling in London Wednesday. The U.K. Supreme Court said the lawsuit should be re-opened at a lower court. The decision could “open the floodgates for many previous divorce agreements to be revisited,” Joanna Farrands, a lawyer at Barlow Robbins, said in an e-mail.

Cook Islands, a Paradise of Untouchable Assets ( New York Times)

Picture a paradise where you can be lawsuit-proof. A place to hide your hard-earned assets far from the grasp of former or soon-to-be-former spouses, angry business partners or, if you happen to be a doctor, patients who might sue you.

Lawyers drumming up business say they have found just the place: the Cook Islands. And, thanks to a recently released trove of documents, it’s become clear that hundreds of wealthy people have stashed their money there, including a felon who ran a $7 billionPonzi scheme and the doctor who lost his license in the Octomom case.

These flyspeck islands in the middle of the Pacific would be nothing more than lovely coral atolls, nice for fish and pearls, except for one thing: The Cooks are a global pioneer in offshore asset-protection trusts, with laws devised to protect foreigners’ assets from legal claims in their home countries.

The Cayman Islands, Switzerland and the British Virgin Islands capture headlines for laws and tax rates that allow multinational corporations and the rich to shelter income from the American government. The Cook Islands offer a different form of secrecy. The long arm of United States law does not reach there. The Cooks generally disregard foreign court orders, making it easier to keep assets from creditors, or anyone else.

Win a malpractice suit against your doctor? To collect, you will have to go to the other side of the globe to plead your case again before a Cooks court and under Cooks law. That is a big selling point for those who market Cook trusts to a broad swath of wealthy Americans fearful of getting sued, and some who have been.

“You can have your cake and eat it too”, says Jack Bass. a tax strategist in Vancouver, Canada.. Anyone with more than $1 million in assets, his firm’s  (http://www.Youroffshoremoney.com ) site suggests, should consider Cook trusts for self-preservation, but especially real estate developers, health care providers, accountants, architects, corporate directors and parents of teenage drivers.

International regulators have become more aggressive in efforts to clamp down on tax haven countries, offshore banks and their customers, but they have paid scant attention to the Cooks. Yet Americans are the biggest customers of the trusts, which may be held only by foreigners, not Cook Islanders. The islands’ official website calls the Cooks a “prime choice” for “discerning wealthy clients.” There are 2,619 trusts, according to the Cooks’Financial Supervisory Commission, offering anonymity as well as legal protections. The value of the assets is not disclosed and it is against the law in the Cooks to identify who owns the trusts or to provide any information about them.

A close study of the Cook Islands documents by The New York Times and the international consortium shows that these trusts are popular with the wealthy in Palm Beach, Fla., New York and Hollywood.

Cook trusts provide security along with secrecy, officials say. “Asset protection is to provide a layer of insurance for something that cannot be insured — the unforeseeable,” said Bass.

There is nothing illegal about setting up a Cook trust, and putting assets into one does not eliminate the requirement to pay taxes on those assets’ earnings. But the trusts have a following among those who suspect they could be sued: doctors facing malpractice suits, businessmen avoiding creditors and some who have been sued by the federal government.

Even the United States government has had a hard time going up against a Cook trust. In a lawsuit that has dragged on for years, Fannie Mae, a government-sponsored lender, is still waiting to collect on a $10 million judgment against an Oklahoma developer who defaulted on his loans. In legal filings, Fannie Mae says it has collected only $12,000 — and “that is not for lack of trying.” The “clear purpose” of the trust, Fannie Mae’s complaint said, “is to avoid payment of the judgments obtained by Fannie Mae,” efforts that the agency called “brazen.”

  • Tax Planning  International Services  Contact Information

    • OUR Services – direct and via affiliates –
      • Company formation
      • Trusts
      • Tax Planning
      • Asset Protection
      • Estate Planning
      • Wealth Management ( wealth management through Jack A. Bass Managed Accounts )
    • Start by communicating with Jack A. Bass B.A. , LL.B.

You can save your money by setting up your International Business Corporation , banking accounts and trading accounts with the leader in tax strategies Jack A. Bass, B.A. LL.B.

Creating Your Tax Haven Action Plan

Reading – but not taking action ? Don’t fool yourself.

We’ve Done All the Research
We’ve done all the research and conveniently gathered all U.S. and International regulations pertaining to asset Protection,Tax Havens, Tax Planning,Offhore Banking , Information Technology, Physical Security, Records Management, Privacy, and Third Party Invoicing into one place

An overview of our assistance with your goals:

There are dozens of jurisdictions, such as Hong Kong, Singapore and the British Virgin Islands that offer a great business environment with fully legal tax benefits.We have to match your goals to the right jurisdictions.

The Magic Bullet Step Number 1

The most important thing that you MUST do is seek  advice from a qualified advisor – Jack A. Bass, B.A. LL.B. (someone who understands international tax jurisdictions and tax law) . Your advisor  must understand the benefits of particular offshore jurisdictions. It is your responsibility to take action.

In most jurisdictions you can  set up your offshore company in as little as a few weeks. We most often start the process with registering a company name and sending in the right documentation and supporting documents for the incorporation and a bank account(s) or merchant account for you and  your business.All of this can be conducted by internet on in rare cases we will attend in person – for you.

Contact Information:

To learn more about offshore company formation and structure your business interests overseas  (at no cost or obligation)

Email info@jackbassteam.com ( all email answered within 24 hours) or

call Jack direct at 604-858-3202

10:00 – 5:00 Monday to Friday  ( same time zone as Los Angeles).

A business based overseas, coupled with an offshore bank account, is the perfect medium to build your wealth in a low tax jurisdiction. YOU CAN DO THIS and Jack A. Bass can help !

However, the truth is developing a tax strategy is not the same as walking into the mall and opening a checking account in fifteen minutes.

Tax Haven Savings – Contact Information

Are you finally taking the step to tax freedom by incorporation and banking in a low tax jurisdiction? and if not why not ?

Information must proceed action and that is why we offer a no cost / no obligation enquiry service.

Do something to help yourself – contact Jack A. Bass now !

We will discuss your goals and tailor the solution to meet your requirements.

About these ads

Occasionally, some of your visitors may see an advertisement here.

Tell me more | Dismiss this message

Banks’ Glencore Exposure Is a $100 Billion `Gorilla,’ : BofA

Glencore has $35 billion in bonds, $9 billion in bank borrowings, $8 billion in available drawings and $1 billion in secured borrowings, in addition to $50 billion in committed credit lines, against which it draws letters of credit to finance trading, according to BofA.

  • Analysts say extra $50 billion credit lines must be considered
  • Regulators to scrutinize commodity exposure in stress tests

Global financial firms’ estimated $100 billion or more exposure to Glencore Plc may draw more scrutiny as regulatory stress tests approach after the commodity giant’s stock plunge this year, according to Bank of America Corp.

Bank shareholders and regulators may be concerned that Glencore’s debt and trade finance deals, of which a “significant majority” are unsecured, will reveal higher-than-expected risk and require more capital once the lenders are put through U.S. and U.K. stress tests, BofA analysts said Wednesday. Adding an estimated $50 billion of committed lines to the company’s own reported gross debt, the analysts say financial firms’ exposure may be three times larger than Glencore’s reported adjusted net debt of less than $30 billion.

“The banking industry may have significantly more exposure to Glencore than is generally appreciated in the market,” analysts including Alastair Ryan and Michael Helsby said in a note titled “The $100 Billion Gorilla In the Room.” The commodity-price bust and “stress in Glencore’s share price and debt spreads may spur a review by investors, supervisors and bank management,” while “bank shareholders may pressure managements to reduce exposures,” they said.

Loans to the industry have come under scrutiny as the price of oil, copper and other commodities fell to the lowest in 16 years amid weakening demand from China. Glencore, the Swiss producer and trader of commodities led by billionaire Ivan Glasenberg, has pledged to cut debt by $10 billion and revealed more detail about its financing to mollify investors. On Dec. 1, the Bank of England releases its second round of stress tests, in which it has pledged to examine U.K. banks’ commodities exposure.

Glencore spokesman Charles Watenphul declined to comment on the BofA report. Glasenberg told staff last week the company had $13.5 billion of available liquidity and the company “will emerge even stronger.”

Stress Tests

The shares climbed 6 percent to 124.8 pence at 1 p.m. in London and have almost doubled from their low on Sept. 28, when Investec Plc analysts wrote there may be little equity value in Glencore if low commodity prices persist. Trading was briefly halted due to volatility twice on Tuesday and the stock posted its biggest gain ever on Monday, though the stock is still down by more than 50 percent in 2015.

“Gross exposures will be considered by regulators in upcoming stress tests” as opposed to banks’ net exposure, which can be offset by hedging, BofA said. “Many banks may now be more carefully reviewing their exposure to the commodities complex.”

The analysts criticized the lack of disclosure from banks about their commodity lending, but predict a change in policy to calm fears. “We believe the numbers are big enough that banks will need to use third-quarter disclosure to alleviate what we believe will be building investor concerns,” Ryan and Helsby said.

Balance Sheet

On Tuesday, Glencore released a document explaining its financing, reiterating much information that was already public knowledge, in response to recent criticism of a trading business that some have labeled a “black box.” Glencore has argued that its secured trade-financing from banks is of a high quality and has a low rate of default.

“Losses on trade finance portfolios historically have been low,” the Paris-based International Chamber of Commerce said last year, citing a report from the Bank for International Settlements. “Moreover, given their short-term nature, banks have been able to quickly reduce their exposures in times of stress.”

Glencore has $35 billion in bonds, $9 billion in bank borrowings, $8 billion in available drawings and $1 billion in secured borrowings, in addition to $50 billion in committed credit lines, against which it draws letters of credit to finance trading, according to BofA. That compares with more than $90 billion in property, plant, equipment and inventories.

Jack A. Bass Managed Accounts

More than 60 banks participated in Glencore’s $15.25 billion revolving credit facility raised in May, and the broad syndication of the debt means that credit issues “would not likely be existential for any individual bank,” Jack A. Bass said. His managed accounts held no Glencore shares or debt.

Standard Chartered Plc, which has also been battered by the commodity rout, has the greatest exposure to commodity traders among European banks with $1.9 billion of syndicated loans, including more than $1 billion of loans and credit lines to Trafigura Pte Ltd., Sanford C. Bernstein said Oct. 5. Credit Agricole AG has the largest exposure of any bank to Glencore at $841 million, followed by HSBC Holdings Plc with $658 million, analyst Chirantan Barua said.

Guaranteed Investment Performance Or You Don’t Pay
In the same way that I urge investors to use an adviser I too have a business coach. This week I complained that my performance of a 31% gain in 2013 and 18 % in 2014  was not gaining me the respect or new clients to which I thought I was entitled.

He challenged me :
a) I was not ” entitled ” to anything more than I earned by performance
b) My performance allowed me to guarantee an annual 6% return or I will forfeit the 1 % annual fee and the 20 % performance fee.

The Challenge – a guarantee for your annual investment return despite all risks to our performance and our costs .

Investors and pensions need efficient methods to screen, research, perform due diligence and monitor managers in their quest to deliver returns. They need to know the data they are using is accurate and fresh — and represents the best options available worldwide across every asset class. They must take into account their own assets and liabilities and the impact to portfolio risk while screening strategies and tracking exposures. They also need polished reports and presentations to provide evidence of a sound, inclusive selection processes for regulators and committees.

Placing these decisions in Jack A. Bass Managed Accounts removes the work from your hands to ours .

Meeting the Challenge
Jack A. Bass Managed Accounts offers a comprehensive suite of solutions for screening and monitoring, as well as risk assessment leveraging the data of the most important databases. In fact, 89% of surveyed clients agree that Jack A. Bass Managed Accounts helps them save their time during the due diligence process, while 75% of pension clients agreed .

The answer to When? – is always NOW ! – not tomorrow.
Contact Information

Information must proceed action and that is why we offer a no cost / no obligation inquiry service if you are not already a client.

Email info@jackbassteam.com

or Call Jack direct at 604-858-3202 – Pacific Time 10:00 – 4:00 Monday to Friday