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Mill City Ventures III (MCVT)

Mill City Ventures III Ltd., formerly known as Poker Magic Inc. (the “Company” or “we”), is a Minnesota corporation that was incorporated in January 2006. Until December 13, 2012, we were a developmentstage company that focused on promoting and placing a proprietary poker game online and into casinos and entertainment facilities nationwide. On February 7, 2013, we filed Form N-54A to become a business development company (“BDC”) under the 1940 Act. We operated as a BDC until we withdrew our election to be treated as a BDC by filing a Form N-54C with SEC on December 27, 2019. As of the time of this filing, we remain a public reporting company that files periodic reports with the SEC, and we are seeking opportunities to invest in or acquire one or more businesses. Nevertheless, any investment we make in business will be limited and structured in such a way as to ensure that no more than 40% of our total assets consist of investment securities to avoid inadvertent regulatory requirements under the 1940 Act.

Company profile

Ticker
MCVT
Exchange
CEO
Douglas Michael Polinsky
Employees
Incorporated
Location
Fiscal year end
Former names
POKER MAGIC INC
SEC CIK
IRS number
204709758

MCVT stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

15 Aug 22
1 Oct 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 629.57K 629.57K 629.57K 629.57K 629.57K 629.57K
Cash burn (monthly) (no burn) 73.79K 334.84K 269.8K (no burn) 647.73K
Cash used (since last report) n/a 224.73K 1.02M 821.74K n/a 1.97M
Cash remaining n/a 404.84K -390.25K -192.17K n/a -1.34M
Runway (months of cash) n/a 5.5 -1.2 -0.7 n/a -2.1

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
22 Sep 22 Geraci Joseph Anthony Ii Common Stock Grant Acquire A No No 2.05 9,908 20.31K 325,687
22 Sep 22 Howard P Liszt Common Stock Grant Acquire A No No 2.05 4,878 10K 25,434
22 Sep 22 Zipkin Laurence S Common Stock Grant Acquire A No No 2.05 4,878 10K 56,737
20 Sep 22 Douglas Michael Polinsky Common Stock Grant Acquire A No No 2.23 11,210 25K 268,189
20 Sep 22 Douglas Michael Polinsky Common Stock Grant Acquire A No No 2.23 5,784 12.9K 262,763

Financial report summary

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Management Discussion
  • We generate revenue primarily in the form of interest income derived from the short-term non-banking loans we provide, together with fees we charge in connection with those loans, such as commitment, origination, structuring, diligence, or consulting fees. Any such fees will be recognized as earned. In some cases, the interest payable to us on the short-erm loans we provide may accrue or be paid in the form of additional debt. The principal amount of the debt instruments, together with any accrued but unpaid interest thereon, will generally become due at the maturity date of those debt instruments. On occasion, we may also generate revenue from dividends and capital gains on equity investments we make, if any, or on warrants or other equity interests that we may acquire.

Content analysis

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Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. sophomore Avg
New words: acquisition, authorized, began, demand, driven, enhanced, fractional, grow, highly, illiquid, issuance, MCVT, Nasdaq, nearest, occasionally, reduction, rounded, satisfy, Secretary, shorter, shortly, situation, small, solve, split, symbol, ticker, underwriter, underwriting
Removed: primary, repayment, senior, unsecured