Webdigs is a real estate brokerage operating in Minnesota, Florida and Minnesota, Wisconsin, and Florida and offers a refund similar to how Redfin offers a refund.
Curiously they’ve announced this week that their shares are available to be traded under the symbol WBDG.
Thanks to Sasha for digging up their SEC filing, Form 10-Q, which outlines all the nitty gritty details of their business:
- “At July 31, 2008, the Company reports a negative working capital position of $919,825, accumulated deficit of $2,349,210″
- “The Company’s principal advertising agency/website developer was owed $490,465 at July 31, 2008 ”
- “We have closed 50 transactions in representation of buyers since inception and eleven transactions in representation of sellers.”
- “Since inception, we have acted as a mortgage broker in about 124 mortgage transactions generating total mortgage fee revenue of $614,000 as of July 31, 2008.”
- “We believe we received a total of $226,000 from loan origination and processing fees and a total of $388,000 from yield spread premiums through July 31, 2008.”
- “Our yield spread premiums through July 31, 2008 averaged 0.84%.”
- “We have recently obtained approval from the Commissioner of Insurance in Minnesota to refer Webdigs customers to an unaffiliated insurance broker, Webdigs Insurance Agency, LLC, for quotes on their home and other personal insurance policies. Should a referred customer end up purchasing insurance through our referral, we will receive a commission for the referral.”