B.H.I.T. Inc.

• Public
• US

Dow Jones Description

B.H.I.T. Inc. (the ?Company?) was originally organized under the laws of the State of Massachusetts pursuant to a Declaration of Trust filed March 19, 1985, under the name VMS Hotel Investment Trust, for the purpose of investing in mortgage loans. The Company was subsequently reorganized as a Delaware corporation on March 13, 1987. The Company changed its name from Banyan Hotel Investment Fund to B.H.I.T. Inc. in 1998. BUSINESS OPERATIONS AND HISTORY The Company?s current operations relate primarily to servicing its cash investment portfolio and seeking profitable investments including mortgage loans for its available funds. The business of the Company is not seasonal and the Company has no foreign or export business. The Company does not segregate revenue or assets by geographical region because such presentation would not be material to an understanding of the Company?s business taken as a whole. The Company was originally established to invest in mortgage loans principally to entities affiliated with VMS Realty Partners. These loans were collateralized by hotel and resort properties.

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