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Seeking loan of $2 million, PCR discloses $12-million payment due in 2020 -- putting 'sale' on the table, offering memorandum shows

Private Client Resources, founded in 2000 projects it will break even next year but declines to say how it'll pay back mounting pile of loans

Author Oisin Breen March 19, 2018 at 7:03 PM
no description available
Bob Miller's firm seeks a 'recapitalization, refinancing, sale, merger or other capital transaction.'


Jeff Spears

Jeff Spears

March 19, 2018 — 10:08 PM
Some day the financial projections will meet the people who sell the dream. I'm still waiting and believing....
Robert Miller, CEO and Vice Chairman of PCR

Robert Miller, CEO and Vice Chairman of PCR

March 19, 2018 — 10:11 PM
We are obviously disturbed by this publication’s use of the details of highly confidential investor communications they knew to be delivered in violation of confidentiality agreements. But more so, by their reckless mis-interpretation and mis-representation of financial information intended for insiders with a full understanding of the company’s strategy and performance. The inclusion of the baseless assessments by competitors with absolutely no knowledge of the company’s finances, operations and strategy is simply shocking. The Company has structured debt equity financing (like many firms) with a committed group of investors designed to ensure our long term success. This was a planned funding and immediately subscribed to by the existing debt holders. The offering is a formality for existing equity holders required under our operating agreement. We have required a minimal amount of financing since our restart in 2016 ending with this planned top-off round. Our financial performance is on target with our plans and we continue to make investments for the benefit of both our clients and shareholders. Our strategy remains unchanged - build a large and important company.

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Mentioned in this article:

LPL Financial
RIA-Friendly Broker-Dealer, RIA Welcoming Breakaways, Advisory Firm
Top Executive: Dan Arnold

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