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CV Holdings, Inc. reports company updates and annual financial statements for an OTC Pink Limited issuer whose principal business is conducted through Centra Funding, LLC, an independent equipment finance company. Recurring news covers net loss drivers, interest expense on preferred equity, credit loss or loan-loss provisions, debt and line-of-credit interest, payroll and administrative costs, unrestricted cash, and cash flow from equipment finance contracts.
Company developments also include Centra's equipment-finance platform activity, including the completed acquisition of the LeaseQ restaurant and franchise team and the launch of the Centra Culinary Finance brand for foodservice-related financing solutions.
Centra Funding (CVHL) closed a new $175 million senior credit facility led by Capital One. The facility adds liquidity and flexibility to fund equipment financing originations for small and medium-sized businesses.
It supports growth across vendor programs and third-party originators in multiple essential-use industries.
CV Holdings (OTC Pink: CVHL) reported a 2025 net loss of $(16,241,821) or $(0.25) per share on 64,413,784 weighted average shares.
Key items: Centra returned to profitability with $1,976,237 net income; wholly owned equipment finance contracts of $139M; unrestricted cash of $3.40M; Colborne preferred liquidation preference ~$145M (accreting); federal NOLs ~$502M. Colborne holds 34,225,568 common shares (~53.1%) and full dilution could reach 92,036,691 shares (~67% owner).
CV Holdings (CVHL) reported financial results for FY2024, showing a net loss of $(18.15) million or $(0.28) per share, compared to $(15.96) million loss in 2023. The loss was primarily attributed to $14.46 million in preferred equity interest expense, $8.95 million credit loss expense, and $8.72 million interest on debt.
The company's subsidiary, Centra Funding, showed modest portfolio growth but posted a loss of $(1.13) million due to reduced origination volume, increased credit loss allowances, and higher interest expenses. As of December 31, 2024, CVHL had $2.69 million in unrestricted cash and approximately $147 million in equipment finance contracts.
Notably, CVHL remains unable to redeem its Senior Non-Convertible Preferred Stock, with liquidation preference reaching $129 million. The redemption obligation has been deferred to June 30, 2025, subject to Colborne's discretion.
Centra Funding, a subsidiary of CV Holdings, Inc., has acquired the LeaseQ Restaurant and Franchise Team and its platform, now launching Centra Culinary Finance. The company aims to provide top-notch financing solutions and support to the foodservice industry, maintaining the same level of service for partners and customers. With the acquisition, Centra plans to enhance offerings for various industries beyond foodservice.
Summary not available.
CV Holdings, Inc. (CVHL) reported a net loss of $(11,844,043) or $(0.18) per share for the year ended December 31, 2022, despite a slight improvement from the previous year's loss of $(12,399,758). The loss was driven primarily by interest expenses on preferred equity totaling $11,478,988 and increased operational costs including salaries and loan loss provisions. With unrestricted cash of $10,958,353, the company faces challenges in redeeming its Senior Non-Convertible Preferred Stock, which has accrued dividends, raising concerns about future liquidity and a potential restructuring. Centra, the company's equipment financing subsidiary, expanded significantly, although rising interest rates have negatively impacted profitability. Overall, while Centra shows growth, the company must navigate significant financial hurdles and the risk of dilution due to preferred stock obligations.
CV Holdings reported a net loss of $(12,399,758) or $(0.19) per common share for the year ending December 31, 2021, an improvement from $(16,439,417) in 2020. Major expenses included $11,529,709 in interest on preferred equity and $5,026,138 in payroll. The company’s unrestricted cash decreased slightly to $11,268,565. As of March 31, 2022, liquidity stood at $8,510,328, with $55 million in bank commitments. Colborne Investment has increased, potentially diluting common stockholders to about 65% ownership, raising concerns about redemption obligations of preferred stock potentially impacting future operations.
CV Holdings reported a net loss of $(16,197,585) or $(0.26) per common share for the year ended December 31, 2020, compared to a loss of $(11,897,585) in 2019.
This loss was primarily due to interest expenses of $11,612,792, administrative expenses of $3,523,434, and loan loss provisions of $3,831,435. The company had unrestricted cash of $11,651,923 and bank line commitments of $56,300,000, with approximately $38,600,000 undrawn.
The COVID-19 pandemic negatively impacted operations, leading to loan deferments and defaults but recovery was noted in the fourth quarter.