The company says its total revenues for fourth quarter 2003 were $697,113, up 43% from $486,884 for fourth quarter 2002. The company operates as a real estate investment trust. Revenues are primarily derived from interest income earned from loans to churches and other non-profit religious organizations.
On April 26, 2002, American Church Mortgage Co. commenced a public offering of 1.5 million shares of common stock and $15 million of investor saver certificates. The offering is being conducted by American Investors Group of Minnetonka on a best efforts basis.
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