Capital Source Services

A growing company today is faced with a vastly changed mix of variables in the marketplace for capital. The Angeloff Company's role in capital source services is one of advising the selection of the most appropriate means of obtaining capital, custom tailoring the financing to the client's needs, choosing the best market to obtain funds at the minimum cost, advising the selection of the best agent to effect it, assisting the client's management in negotiating the terms and fees, and then overviewing the transaction to assure its success.

THE PUBLIC MARKET

In the public market for funds, The Angeloff Company is well equipped to select and follow through on offerings of common stock, preferred stock, convertible debentures, unsecured and secured bonds, and industrial revenue bonds. It can also advise and assist in obtaining favorable ratings for debt securities from Standard and Poor's Corporation and Moody's Investor Service.

The Angeloff Company has access to and strong relationships with major national and regional investment banking firms. Its intimate knowledge of the strengths of these firms' capabilities and their professional personnel, both in New York and on the West Coast, creates an unusual ability to assist its clients in selecting the investment banker or bankers to service their particular capital needs. If the client already has an existing investment banking relationship, The Angeloff Company is well qualified to review the performance and capabilities of its banker and to offer specific recommendations.

THE PRIVATE MARKET

In the private market, The Angeloff Company maintains extensive relationships with numerous national and regional institutional investors which can facilitate the private placement of common or preferred stock, unsecured or secured straight debt, convertible debt or various debt/warrant combinations of securities.

This market is generally noted for its lower acquisition cost and faster completion cycle as compared to the public market.