Departure of Directors or Certain Officers; Appointment of Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 8, 2009, Daniel Kahan resigned as a member of the Board of Directors of Maxlife Fund Corp. ("we", "Maxlife", or the "Company") based on a disagreement with the Company regarding the restriction period of the common stock underlying his outstanding warrants.
Monday June 16, 2008
MaxLife Fund Corp. declares dividends to shareholders of Preferred Shares.
New
Jersey
, June 16th – MaxLife
Fund Corp. (OTC:MXFD), is
pleased to announce that they
have declared the first quarterly dividend to shareholders of its
outstanding preferred shares. The dividend declared is for $0.0625 per
preferred share and is cumulative and paid quarterly. Each preferred share
was sold at $25 per share and was purchased via the unit offering from
MaxLife Fund Corp.
“We have prepared a unit offering that
enables investors and shareholders to participate in the fast growth
industry of life settlements. The dividend yields 10% per annum and gives
investors the attractive yield they desire. We believe this funding will
strengthen the equity base and enables MaxLife to execute on its’ business
plan,” stated Mr. Bennett Kurtz, President and CEO of MaxLife Fund Corp.
About MaxLife Fund Corp.: MaxLife Fund Corp.
is concentrating on 3 major components of the fast growing Life Settlement
sector; (1) to invest in policies for our own inventory, (2) to trade
policies in the open market and (3) to build a large portfolio by demand for
institutional buyers. MaxLife Fund Corp. is positioning itself to grow with
the industry and expand its operation to become one of the leaders in the
Life Settlement sector.
Cautionary Statement Pursuant to
Securities Litigation Reform Act of 1995:
This press release may contain forward-looking
statements, which are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995.
Expressions of future goals and similar expressions
reflecting something other than historical fact are intended to identify
forward-looking statements, but are not the exclusive means of identifying
such statements. These forward-looking statements involve a number of risks
and uncertainties. The actual results that the Company achieves may differ
materially from any forward-looking statements due to such risks and
uncertainties. The Company undertakes no obligations to revise or update any
forward-looking statements in order to reflect events or circumstances that
may arise after the date of this news release.
22-Apr-2008
Item 5.02 Departure of Directors or Certain Officers; Appointment of Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 21, 2008, MaxLife Fund Corp. ("MaxLife" or the "Company"), appointed Mr. Dan Schmitt, Mr. Randy Delkus, and Mr. Daniel E. Kahan to its Board of Directors. The newly appointed Directors do not have any family relationships with any other director or executive officer of the Company. As of the date of this filing, the newly appointed Directors have not been appointed to any committee of the Board of Directors.
Mr. Dan Schmitt is co-founder and Chief Executive Officer of Anthony, Allan & Quinn, Inc. ETAL ("AAQ") Inc. This integrated family of businesses, offered clients a broad range of services and technological solutions, including electronic medical records, outsourced business services, marketing and advertising initiatives.
Since its inception in 1993, AAQ grew from a single automotive marketing firm to a diversified holding company with combined revenues of over $100 million in 2003. By 1998, AAQ had become the 156th fastest growing company in the United States on Inc. Magazine's Inc. 500 list. In 1997, recognizing a tremendous need and opportunity for the application of document processing solutions to the healthcare industry, Mr. Dan Schmitt and his two AAQ partners co-founded ABF, to serve insurance companies, Managed Care Organizations, HMO's, and Third Party Administrators. ABF leveraged a combination of proprietary print, insert and Web-based technology to integrate directly with healthcare company claim systems. By 2003, ABF had become the 23rd fastest growing company on the Inc. 500 and #1 in Missouri. In July of 2003, ABF was sold to publicly-traded WebMD, for cash and stock of $260 million.
Mr. Schmitt was the leading force of AAQ and ABF business models and the architect of a methodology for creating new business initiatives. He has since combined his expertise in business development, administration, finance, and marketing, to create The Incubation Factory - a privately funded business incubator. In 2005, Mr. Schmitt opened the doors to "The Factory" in state of the art renovated 50,000 sq.ft. warehouse in downtown St. Louis. The Incubation Factory is dedicated to the mission of growing businesses faster, smarter, and cheaper than ever thought possible. Mr. Schmitt serves as the Chief Operating Officer of The Incubation Factory.
Mr. Schmitt earned a B.A. in Marketing from the University of Northern Iowa in 1989. He spends time consulting with each of the businesses while always keeping an eye to the next business opportunity.
Mr. Randy Delkus is a senior healthcare executive with experience in both for profit and not for profit sectors. He received his B.S. in Nursing, Magna Cum Laude, from St. Louis University and also holds a Business degree from Southern Illinois University, specializing in Marketing and Management. He completed his Masters in Business Administration at Webster University in St. Louis, graduating Magna Cum Laude.
Mr. Delkus is currently the President of Anthony, Allan & Quinn (AAQ) and The Incubation Factory (TIF), a go-to market business incubator that works with start up companies, universities, individual entrepreneurs and private and public industry; 75% of its current portfolio has a life sciences and/or healthcare focus.
Prior to AAQ, Mr. Delkus served as Chief Executive Officer for one of St. Louis' most premier healthcare institutions.
Mr. Daniel E. Kahan has an extensive international actuarial background in the life insurance industry. Mr. Kahan has hands-on experience and knowledge of the life settlements market in North America. After earning a B.Sc. (Honors) in Mathematics from University College, London, England, he qualified as an Associate of the Institute of Actuaries in 1984. He worked for 3 years in South Africa for Metropolitan Life, before moving to North America. In Toronto, Ontario, Canada he worked for Sun Life and Zurich Life, and in Chicago, Illinois, U.S.A., for Blue Cross.
In 1994 he founded Canadian Life Line in Nova Scotia, to provide insurance secured loans, with the approval of the Nova Scotia Superintendent of Loans & Insurance.
In July 2001, he was a panel member at the Society of Actuaries Product Development Meeting session in Toronto, on Life Settlements.
Each Director has been granted option in the Company's stock that vest after serving as a Director for 6 months. The Directors each were granted options for 10,000 shares of the Company's common stock at the following share amounts and strike prices:
2,500 shares at $20.00 strike price
3,500 shares at $25.00 strike price
4,000 shares at $35.00 strike price
NEW JERSEY, April 21 /PRNewswire-FirstCall/ - MaxLife Fund Corp. (OTC: MXFD.OTCBB), is pleased to announce that Mr. Dan Schmitt, Mr. Randy Delkus and Mr. Daniel E. Kahan have been appointed to the Board of Directors of the Company.
"We welcome Mr. Schmitt to MaxLife Fund Corp. Mr. Schmitt brings with him, his vast experience and entrepreneurial skills to the Board of Directors. After serving as advisory board members since September 2007, we are very pleased that Mr. Randy Delkus and Mr. Daniel Kahan have accepted the role of joining the Board of Directors," stated Mr. Bennett Kurtz, President and CEO of MaxLife Fund Corp.
Mr. Dan Schmitt is co-founder, Chief Executive Officer and President of Anthony, Allan & Quinn, Inc. ETAL ("AAQ") Inc. This integrated family of businesses, offer clients a broad range of services and technological solutions, including electronic medical records, outsourced business services, and various marketing and advertising initiatives in the automobile industry.
Since its inception in 1993, AAQ has grown from a single automotive marketing firm to a diversified holding company with combined revenues of over $100 million in 2003. By 1998, AAQ had become the 156th fastest growing company in the United States on Inc. Magazine's Inc. 500 list. In 1997, recognizing a tremendous need and opportunity for the application of document processing solutions to the healthcare industry, Mr. Dan Schmitt and his two AAQ partners co-founded ABF, to serve insurance companies, Managed Care Organizations, HMO's, and Third Party Administrators. ABF leveraged a combination of proprietary print, insert and Web-based technology to integrate directly with healthcare company claim systems. By 2003, ABF had become the 23rd fastest growing company on the Inc. 500 and #1 in Missouri. In July of 2003, ABF was sold to publicly-traded WebMD, for cash and stock of $260 million.
Mr. Schmitt was the leading force of AAQ and ABF business models and the architect of a methodology for creating new business initiatives. He has combined his expertise in business development, administration, finance, and marketing, to create The Incubation Factory - a privately funded business incubator. In 2005, Mr. Schmitt opened the doors to "The Factory" in state of the art renovated 50,000 sq.ft. warehouse in downtown St. Louis. The Incubation Factory is dedicated to the mission of growing businesses faster, smarter, and cheaper than ever thought possible.
Mr. Schmitt earned a B.A. in Marketing from the University of Northern Iowa in 1989. He spends time consulting with each of the businesses while always keeping an eye to the next business opportunity.
Mr. Randy Delkus is a senior healthcare executive with experience in both for profit and not for profit sectors. He received his B.S. in Nursing, Magna Cum Laude, from St. Louis University and also holds a Business degree from Southern Illinois University, specializing in Marketing and Management. He completed his Masters in Business Administration at Webster University in St. Louis, graduating Magna Cum Laude.
Mr. Delkus is currently the President of Anthony, Allan & Quinn (AAQ) and The Incubation Factory (TIF), a go-to market business incubator that works with start up companies, universities, individual entrepreneurs and private and public industry; 75% of its current portfolio has a life sciences and/or healthcare focus.
Prior to AAQ, Mr. Delkus served as Chief Executive Officer for one of St. Louis' most premier healthcare institutions.
Mr. Daniel E. Kahan has an extensive international actuarial background in the life insurance industry. Mr. Kahan has hands-on experience and knowledge of the life settlements market in North America. After earning a B.Sc. (Honors) in Mathematics from University College, London, England, he qualified as an Associate of the Institute of Actuaries in 1984. He worked for 3 years in South Africa for Metropolitan Life, before moving to North America. In Toronto, Ontario, Canada he worked for Sun Life and Zurich Life, and in Chicago, Illinois, U.S.A., for Blue Cross.
In 1994 he founded Canadian Life Line in Nova Scotia, to provide insurance secured loans, with the approval of the Nova Scotia Superintendent of Loans & Insurance.
In July 2001, he was a panel member at the Society of Actuaries Product Development Meeting session in Toronto, on Life Settlements.
About MaxLife Fund Corp.: MaxLife Fund Corp. is concentrating on 3 major components of the fast growing Life Settlement sector; to invest in policies for our own inventory, to trade policies in the open market and to build a large portfolio by demand for institutional buyers. MaxLife Fund Corp. is positioning itself to grow with the industry and expand its operation to become one of the leaders in the Life Settlement sector.
Cautionary Statement Pursuant to Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release.
On February 25, 2008 MaxLife and Capital Growth Planning, Inc. ("CGP") formed MaxLife-CGP Partners, LLC (the "Joint Venture") to work together in sourcing, purchasing, and managing certain life settlement insurance policy assets for the Joint Venture. It is MaxLife's goal to deploy a portion of funds raised in this Preferred stock offering as a loan to the Joint Venture as well as other planned Joint Ventures. CGP, through its executives and subsidary Companies, will use its life settlement experience, contacts, and specialized products to source, purchase, and manage the life settlement policy assets for the Joint Venture. Part of CGP's policy management goals will be to package or bundle certain policy assets for resale to private and/or institutional buyers, within the primary and/or secondary life settlement markets. The goal of the Joint Venture is to develop life settlement policy transactions exceeding $1 billion in total face value through the remainder of 2008, using several of CGP's specialized life settlement products and strategies. CGP will manage all phases of policy acquisitions, settlement and sourcing, back-office support, portfolio building structures and resale strategies. MaxLife is confident the Joint Venture will provide MaxLife with a competitive edge in several life settlement niches due to CGP's experienced management team, its specialized subsidiary companies, and the exclusive and proprietary nature of some of its life settlement products and services. Through the Joint Venture, MaxLife will be able to utilize CGP's management team and its subsidiary companies in a consulting capacity for other potential MaxLife joint ventures, if needed.
The Joint Venture will be dissolved upon the happening of three events: 1) both parties agree to dissolve the Joint Venture 2) Maxlife and CGP come to terms for a merger, acquisition, or purchase that would render the Joint Venture moot, such that the Joint Venture would be owned by the surviving entity, with the proceeds going to the surviving company; and/or, 3) one party agrees to buyout the other party's interest in the Joint Venture on terms acceptable to both parties.
Capital Growth Planning, Inc. ("CGP" or "the Company") was formed in 1969 as a diversified financial services corporation. CGP is the parent company of eight wholly-owned subsidiaries that collectively have designed multiple financial products and programs ("Financial Structures") to take advantage of the significant revenue opportunities to be realized in the life settlement market, the life insurance market, and the broker-dealer securities and advisory markets. The Company specializes in comprehensive structured life settlement brokerage, principal protected investment and securities programs, and premium finance life insurance products. Other financial services include advanced tax reduction planning and retirement planning. The Company's primary role is managing its subsidiary companies while developing, promoting and marketing its highly specialized, exclusive, and/or proprietary insurance and financial products through joint ventures, wholesale distribution, and/or syndication. CGP primarily focuses on products and services that are innovative, structurally sophisticated, and conducive to specific market niches that currently have little or no product/service representation.
CALIFORNIA, Feb. 25 /PRNewswire-FirstCall/ - MaxLife Fund Corp. (OTC: MXFD.PK). MaxLife Fund Corp. ("MaxLife") and Capital Growth Planning, Inc. ("CGP"), are pleased to announce that they have entered into a joint venture, with each company having an equal interest. "MaxLife-CGP", will acquire life settlement insurance policies for its own inventory, and for resale purposes to institutional buyers.
MaxLife and CGP are working together to fund the new joint venture. It is anticipated that the joint venture will be funded by institutional and private funds. The funding will enable "MaxLife-CGP" to execute its business plan of building initial portfolios of approximately $25M to $100M in face value for resale. Throughout 2008, "MaxLife-CGP's" goal is to develop life settlement policy transactions exceeding $1 billion in total face value. "MaxLife-CGP" will manage all phases of policy acquisitions, settlement and sourcing, back-office support, portfolio building structures and resale strategies.
"We are pleased to partner with a company such as Capital Growth Planning Inc., which has over 35 years experience in the insurance industry. Capital Growth Planning Inc. has exclusive and new innovative products for the fast growing life settlement market. As the life settlement market becomes one of the fastest growing sectors, we expect MaxLife Fund Corp. to expand its operations and create value for our shareholders," stated Mr. Bennett Kurtz, MaxLife Fund Corp., CEO.
Mr. Douglas W. Miller, the CEO of "CGP" quoted, "Capital Growth Planning is extremely excited to be expanding its life settlement purchase/resale strategies through its Joint Venture with MaxLife. A considerable amount of resources and time have been spent toward developing these purchase strategies and the relationships necessary to transact business in this space. Over the last two years, "CGP", has settled and resold, and/or brokered the sale of over 55 policies totaling over $40M in life insurance policy face. "MaxLife-CGP" allows "MaxLife" and "CGP" to coordinate their respective strengths to make this Joint Venture a successful revenue enterprise for both firms."
About Capital Growth Planning, Inc.: Capital Growth Planning, Inc., "CGP", was formed in 1969 as a diversified financial services corporation. "CGP" is the parent company of eight wholly-owned subsidiaries that collectively have designed multiple financial products and programs ("Financial Structures") to take advantage of the significant revenue opportunities to be realized in the life settlement market, the life insurance market, and the broker-dealer securities and advisory markets. Over the last several years, "CGP" has primarily focused in developing and implementing comprehensive structured life settlement brokerage, principal protected investment and securities programs, and premium finance life insurance products. February 1, 2008, "CGP" filed a Provisional Patent Application to protect its proprietary protection "Life Insurance Backed Collateral" investment structure, otherwise known as LIBAC(SM). Other financial services include advanced tax reduction planning and retirement planning. "CGP's" primary role is managing its subsidiary companies, while developing, promoting and marketing its highly specialized, exclusive, and/or proprietary insurance and financial products through joint ventures, wholesale distribution, and/or syndication. "CGP" primarily focuses on products and services that are innovative, structurally sophisticated, and conducive to specific market niches that currently have little or no product/service representation. "CGP's" executive management team has over 250 years combined experience and the average employment of its executives is 23 years.
About MaxLife Fund Corp.: MaxLife Fund Corp. is concentrating on 3 major components of the fast growing Life Settlement sector; to invest in policies for our own inventory, to trade policies in the open market and to build a large portfolio by demand for institutional buyers. MaxLife Fund Corp. is positioning itself to grow with the industry and expand its operation to become one of the leaders in the Life Settlement sector.
Cautionary Statement Pursuant to Safe Harbor Provisions of the Private
Securities Litigation Reform Act of 1995:
This press release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Expressions of future goals and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties. The actual results that the Company achieves may differ materially from any forward-looking statements due to such risks and uncertainties. The Company undertakes no obligations to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this news release.