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Friday, June 17, 2005

Amen Properties (AMEN)

I looked at this company a while back (a year ago? two years ago? I forget). They aren't on the pink sheets, but they're not far from it (the market cap is $14 million). At the time, the price was under $3 a share; it's more than doubled since then. Putting it all together, it seemed like a pretty good investment at the time. I never bought shares.

They have some interesting bylaws. My take on the religious angle of the business was definitely good thing. These guys seem to really believe it and live it.
Article XIII of our Bylaws provides that AMEN Properties, Inc. is a
"religious corporation." Our policy is generally to include among our officers and directors unconditionally, and among our employees where a bona fide occupation qualification exists, only persons who, upon request, subscribe to the Company's Christian Statement of Faith as follows:
1. We believe that there is one God, eternally existing in three persons: the Father, the Son, and the Holy Spirit.
2. We believe that the Bible is God's written revelation to man and that it is verbally inspired, authoritative, and without error in the original manuscripts.
3. We believe in the deity of Jesus Christ, His virgin birth, sinless life, miracles, and death on the cross to provide for our redemption, bodily resurrection and ascension into heaven, present ministry of intercession for us, and His return to earth in power and glory.
4. We believe in the personality and deity of the Holy Spirit, that He performs the miracle of the new birth in an unbeliever and indwells believers, enabling them to live a godly life.
5. We believe that man was created in the image of God, but because of sin, was alienated from God. That alienation can be removed only by accepting through faith, God's gift of salvation which was made possible by Christ's death.

They recently released their 10-K. I'm going to look over it. But I'd hate to buy shares for $6.35 that I passed up for $2.95 earlier.

UPDATE: I skimmed over the 10-K. Not interested.

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