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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Standard Premium Finance Holdings Inc (QX) | USOTC:SPFX | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.03 | -2.21% | 1.33 | 1.29 | 1.33 | 1.33 | 1.33 | 1.33 | 3,620 | 21:00:04 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
(Exact name of registrant as specified in its charter)
(State or Other Jurisdiction | (Commission | (I.R.S. Employer |
of Incorporation) | File Number) | Identification No.) |
(Address of Principal Executive Office) (Zip Code)
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act: None
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by checkmark
if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
Item 2.02. Results of Operations and Financial Condition.
On August 15, 2024, Standard Premium Finance Holdings, Inc. (the “Company”) issued a press release setting forth its financial results for the quarter ended June 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1.
The information contained in this Item 2.02 and Exhibit 99.1, attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended and shall not be deemed incorporated by reference in any filing with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended or the Securities Act of 1933, as amended whether made before or after the date hereof and irrespective of any general incorporation language in any filings.
Forward Looking Statements
The press release contains forward-looking statements, including but not limited to, statements regarding our outlook on for the remainder of 2024. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "expect", "will", and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements give our current expectations and projections relating to our financial condition; macroeconomic factors; plans; objectives; growth opportunities; assumptions; risks; future performance; business; and results of operations, including revenue, and net income. Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Standard undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. More information about factors that could affect our results of operations and risks and uncertainties are provided in our public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting our investor relations website at www.standardpremiuminvestors.com or the SEC’s website at www.sec.gov.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |
99.1 | Press release dated August 15, 2024 | |
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.
STANDARD PREMIUM FINANCE HOLDINGS, INC. | ||
Dated: August 19, 2024 | By: | /s/ William J. Koppelmann |
William J. Koppelmann Chairman and Chief Executive Officer | ||
Exhibit 99.1
STANDARD PREMIUM FINANCE HOLDINGS, INC. REPORTS SECOND QUARTER 2024 RESULTS
MIAMI, Florida, August 15, 2024 /GLOBE NEWSWIRE/ -- Standard Premium Finance Holdings, Inc. (“Standard”) (OTCQX: SPFX) last week released its financial results for its second quarter of fiscal year 2024 ended June 30, 2024.
“Standard has delivered record quarterly revenues,” said William Koppelmann, CEO of Standard. “Adjusting to the unprecedented eleven interest rate increases required a balance of resilience and perspicacity that steered us soundly through a turbulent macroeconomic environment. As we anticipate decreasing rates in the coming months, Standard expects that the opposite forces will provide an opportunity for further increased profitability. Our current position supports Standard’s growth trajectory expanding into new geographic territories.”
Second Quarter 2024 Financial Highlights
· | Revenue. Total revenue exceeded $3,000,000, an increase of 35% from the second quarter of 2023. Year-to date revenue also increased 35% from 2023. |
· | Loan Originations. Total loan originations surpassed $40,000,000, an increase of 25% from the second quarter of 2023. |
· | Net Income and EPS. Net income increased 86% compared to the second quarter of 2023. Accordingly, earnings per share were $0.11 for the quarter. |
· | Average APR. Our weighted-average APR on new loans increased to 17.58%, a 62-basis point increase as compared to the second quarter of 2023. |
· | Preferred Dividends. Dividends of 7% APY on preferred stock were declared and paid in August 2024. |
· | Return on Equity. The Company achieved a return on equity exceeding 23% for the second quarter of 2024. |
Forward-Looking Statements
This press release contains forward-looking statements, including but not limited to, statements regarding our outlook on for the remainder of 2024. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate", "expect", "will", and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or financial performance or other events. Forward-looking statements give our current expectations and projections relating to our financial condition; macroeconomic factors; plans; objectives; growth opportunities; assumptions; risks; future performance; business; and results of operations, including revenue, and net income. Neither we nor any other person assumes responsibility for the accuracy and completeness of any of these forward-looking statements. Standard undertakes no obligation to update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. More information about factors that could affect our results of operations and risks and uncertainties are provided in our public filings with the Securities and Exchange Commission, copies of which may be obtained by visiting our investor relations website at www.standardpremiuminvestors.com or the SEC’s website at www.sec.gov.
About Standard Premium Finance Holdings, Inc.
Standard Premium Finance Holdings, Inc. (OTCQX: SPFX) is an industry-specific holding company pursuing merger and acquisition opportunities of synergistic businesses to take advantage of the economies of scale within the specialty finance industry. SPFX companies have provided financing solutions in excess of $2 Billion to businesses and individuals to secure coverage for their property and casualty insurance policies. SPFX companies currently operate in more than thirty-five states throughout the U.S. With a market exceeding $80 Billion in total premiums financed annually, SPFX continuously seeks advantages of roll-up opportunities in a historically consolidating industry while providing maximum value for its shareholders.
Cover |
Aug. 15, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Aug. 15, 2024 |
Entity File Number | 000-56243 |
Entity Registrant Name | STANDARD PREMIUM FINANCE HOLDINGS, INC. |
Entity Central Index Key | 0001807893 |
Entity Tax Identification Number | 81-2624094 |
Entity Incorporation, State or Country Code | FL |
Entity Address, Address Line One | 13590 SW 134th Avenue |
Entity Address, Address Line Two | Suite 214 |
Entity Address, City or Town | Miami |
Entity Address, State or Province | FL |
Entity Address, Postal Zip Code | 33186 |
City Area Code | 305 |
Local Phone Number | 232-2752 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | true |
1 Year Standard Premium Finance (QX) Chart |
1 Month Standard Premium Finance (QX) Chart |
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