BNET Industries
Last Fiscal Year Sales:$14.7M
- Public
- US
Dow Jones Description
STB, Inc. was formed in New Jersey in 2003. Its primary purpose was to
act as a holding company for three subsidiaries, J Holder, Inc., VOM, LLC and
Velocity Investments, LLC. These companies acquire, manage, collect and service
distressed assets consisting of consumer receivable portfolios, interests in
distressed real property and tax lien certificates.
President, Chief Executive Officer and ChairmanJohn C. Kleinert
Number of Employees 12
Contact Information
1800 Route 34 N Bldg 4 Ste 404A
Wall, New Jersey 07719
(201) 760-6306
Peer Companies
NAICS Code Miscellaneous Intermediation: 523910
News & Analysis
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velocity asset management inc. - All News and Analysis
Velocity Changes Its Name and Effects Reverse Stock Split
On November 19, 2008, Velocity Portfolio Group,Inc. (AMEX: JVI) (NYSE Alternext: PGV) announced that on November 14, 2008,it filed an Amendment to Velocity's Certificate of Incorporation changingits name from Velocity Asset Management, Inc. to Velocity Portfolio Group,Inc. In addition, the previously announced one-for-twenty (1 for 20)reverse stock split of Velocity's...
Velocity Reports Operating Results for Three and Nine Month Periods Ended September 30, 2008
Velocity Asset Management, Inc. (AMEX: JVI)("Velocity"), which collects delinquent consumer receivables using anoutsourced litigation model, today announced operating results for thethree- and nine-month periods ended September 30, 2008. Velocity reported Q3 '08 operating income increased 23.4% to $1.84 millionand income from continuing operations rose 91.4% to $1,005,000, versus Q32007. ...
Velocity Asset Management, Inc. Announces Filing of Registration Statement for Sale of Common Stock
Velocity Asset Management, Inc. (AMEX: JVI) todayannounced the filing of a registration statement with the Securities andExchange Commission pertaining to a proposed underwritten public offeringof shares of its common stock. Sandler O'Neill + Partners, L.P. is acting as the sole manager of theoffering. This offering of common stock will...
Velocity Q2 Revenues Rose 11% to $3.7 Million and Income from Continuing Operations Rose 2% to $751,000
WALL, N.J. -- Velocity Asset Management, Inc. (AMEX: JVI) ("Velocity"), which collects delinquent consumer receivables using an outsourced litigation model, today announced operating results for the three- and six-month periods ended June 30, 2008. [TABLE OMITTED] Summary Financials [TABLE OMITTED] *Velocity Investments - a wholly owned...
Velocity Asset Management Q1 2008 EPS from Continuing Operations Increases 300% to $0.04 on 25% Revenue Rise, Its 13th Consecutive Profitable Quarter
Q1 '08 Gross Collections Rise 21% WALL, N.J. -- Velocity Asset Management, Inc. (AMEX: JVI) ("Velocity"), which collects delinquent consumer receivables using an outsourced litigation model, today announced record operating results for the three month period ended March 31, 2008, the Company's 13th consecutive profitable quarter. The Company...
Velocity Asset Management Announces Delay in 10-Q Filing and Previews Q1 2008 Results
WALL, N.J. -- Velocity Asset Management, Inc. (AMEX: JVI) ("Velocity"), which collects delinquent consumer receivables using an outsourced litigation model, today announced that it must further delay the filing of its quarterly report on Form 10-Q with the SEC. The company expects to complete the filing no later than Tuesday,...
Progressive Following on Velocity Asset Management Inc.
M2 PRESSWIRE-18 March 2008-Streetinvesting.com: Progressive Following on Velocity Asset Management IncC1994-2008 M2 COMMUNICATIONS LTD RDATE:18032008 Streetinvesting.com has now resumed our progressive review of Velocity Asset Management Inc (AMEX:JVI) after it traded down 14% Tuesday, early in the morning,...
Velocity Asset Management Q4 '07 EPS Rises 100% to a Record $0.04 Per Share on a 37% Increase in Revenues
Full Year EPS Increases 133% to a Record $0.07 Per Share on a 49% Rise in Revenues Q4 and 2007 Gross Collections Rise 73% and 67%, Respectively WALL, N.J. -- Velocity Asset Management, Inc. (AMEX: JVI) ("Velocity"), which collects delinquent consumer receivables using an outsourced litigation...
Progressive Following on Velocity Asset Management Inc.
M2 PRESSWIRE-5 March 2008-MarketMinute: Progressive Following on Velocity Asset Management IncC1994-2008 M2 COMMUNICATIONS LTD RDATE:05032008 InvestorIM has been created as a tool for the average investor. The idea is simple, a website where the world can communicate. Do you have...
Velocity Investments Increases Senior Credit Facility Borrowing Limit and Extends Maturity to January 2011
WALL, N.J. -- Velocity Asset Management, Inc. (AMEX: JVI and JVI-P) ("Velocity"), which purchases delinquent consumer receivables and uses an outsourced litigation model to collect them, today announced that its Velocity Investments VI subsidiary has been granted an increase on its senior credit facility with Wells Fargo Foothill, Inc. from...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| James J. Mastriani | Cfo, Chief Legal Officer, Treasurer & Secretary |
| W. Peter Ragan | Vice President and Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| John C. Kleinert | President, Chief Executive Officer and Chairman |
| David Granatell | Board of Directors |
| Michael Kelly | Board of Directors |
| Steven Marcus | Board of Directors |
| Organization | Position | Status |
|---|---|---|
| Velocity Asset Management, Inc. | President, Chief Executive Officer and Chairman | Current |
| Velocity Asset Management, Inc. | Board of Directors | Former |
| Princeton University | Bachelor of Science Degree In Chemical Engineering | Former |
| Organization | Position | Status |
|---|---|---|
| Velocity Asset Management, Inc. | Cfo, Chief Legal Officer, Treasurer & Secretary | Current |
| Seton Hall University School of Law | Juris Doctorate | Former |
| Organization | Position | Status |
|---|---|---|
| Velocity Asset Management, Inc. | Vice President and Director | Current |
| Velocity Asset Management, Inc. | Board of Directors | Current |
| La Salle University | Bachelor of Science In Marketing | Former |
| Seton Hall University School of Law | Degree | Former |
| Organization | Position | Status |
|---|---|---|
| Velocity Asset Management, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| National Basketball Association | Physician | Current |
| Velocity Asset Management, Inc. | Board of Directors | Current |
| The Kelly Institute | Director | Current |
| Hackensack University Medical Center | Chairman of the Department of Orthopedic Surgery | Former |
| Organization | Position | Status |
|---|---|---|
| Rainbow Capital, LLC | President | Current |
| Rainbow Capital, LLC | Founder | Current |
| Gmsl | Managing Partner | Current |
| American Institute of Certified Public Accountants | Board of Directors | Current |
| Velocity Asset Management, Inc. | Board of Directors | Current |
| American Institute of Certified Public Accountants | Member | Current |
| Rainbow Capital, LLC | Partner | Former |
| Syracuse University | B.S. In Accounting | Former |
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