American Pacific Mint Reports 1st Quarter Loss
American Pacific Mint of Woodland Hills, a precious metals company, said it lost $45,231 in the first quarter that ended March 31 on sales of $14.4 million. In the year-earlier quarter, the company lost $111,851 on sales of $4 million.
Separately, two investors have acquired large blocks of American Pacific Mint stock by converting debt, according to Securities and Exchange Commission filings.
Henry Hirschman, a Long Beach physician, bought 20.5%, or 1.1 million common shares, of the precious metals company. Under an April 17 agreement with the company, Hirschman acquired 1 million of the shares when he converted $335,131 in debt owed to him by American Pacific Mint. Hirschman acquired 56,000 more shares in exchange for other securities he previously owned.
Van Nuys mortgage banker Craig Alan-Lee acquired 5.49%, or 300,000 common shares, of American Pacific Mint in exchange for debt owed to him by the company.