Mill City Ventures III, Ltd. is a publicly traded investment company listed on NASDAQ Capital Market, engaged in financial asset management and acquisition.

# Company Summary: Mill City Ventures III, Ltd.

**Overview:**  
Mill City Ventures III, Ltd. is a publicly traded company listed on The Nasdaq Capital Market under the ticker symbol **MCVT**. It is incorporated in Minnesota and primarily operates within the securities and investment industry.

**Business Focus:**  
The company is engaged in investment activities, including the management and acquisition of financial assets. It has entered into multiple loan and security agreements, and manages various financial instruments, as evidenced by its extensive exhibit filings related to loan agreements, employment contracts, and a stock incentive plan.

**Financial and Operational Details:**  
- **Number of Customers/Clients:** Not specified in the provided document.  
- **Employees:** Not specified in the provided document.  
- **Revenue:** Not specified.  
- **Net Income:** Not specified.  

**Additional Information:**  
- The company filed its original Annual Report on Form 10-K on March 10, 2025, for the fiscal year ending December 31, 2024.  
- It is classified as a *smaller reporting company* and an *emerging growth company*.  
- The company has filed all required reports over the past 12 months but did not submit certain interactive data files as of the report date.  
- The company’s market valuation of voting common stock held by non-affiliates was approximately **$5,351,705** (1,798,872 shares x $2.98 share price as of June 30, 2024).  
- The company’s headquarters is located at **1907 Wayzata Boulevard, Suite 205, Wayzata, MN 55391**.  
- The company’s primary stock trading platform is NASDAQ Capital Market.  

**Note:**  
The provided excerpt primarily includes regulatory and filing details, exhibit indices, and organizational information. It does not contain specific operational data such as customer counts, employee numbers, revenues, or profits.

Mill City Ventures III, Ltd. specializes in providing short-term specialty finance solutions primarily to private businesses and high-net-worth individuals.

# Company Overview: Mill City Ventures III, Ltd.

## General Information
- **Incorporation**: Incorporated in January 2006 in Minnesota.
- **Business Model**: Originally operated in the gaming and entertainment industry. Transitioned to a Business Development Company (BDC) in 2013 and operated as one until December 27, 2019. Now focuses on specialty finance.

## Current Business Focus
Mill City Ventures III, Ltd. specializes in providing **short-term specialty finance solutions** primarily to:
- Private businesses
- Micro- and small-cap public companies
- High-net-worth individuals

To steer clear of regulations under the Investment Company Act of 1940, the company structures its loans to generally avoid being classified as "securities."

## Specialty Finance Solutions Provided
The company primarily engages in high-interest short-term lending arrangements, often referred to as "hard-money lending." Key offerings include:
- **Short-term secured loans** for real estate development
- **Short-term unsecured loans** with potential collateral acquisition opportunities
- **Short-term secured operating capital loans** for businesses
- **Short-term loans** to individuals awaiting tax refunds

### Additional Opportunities Explored
- Purchasing adjudicated settlements
- Buying receivables at discounted rates, particularly for workers' compensation claims
- Short-term consumer finance lending

## Sourcing and Competition
- **Sourcing Transactions**: Utilizes management's extensive experience and industry contacts for investment opportunities; does not plan to hire additional business development personnel.
- **Competition**: Competes with private equity and credit funds, but focuses on a flexible, entrepreneurial approach which allows more creativity in deal structuring.

## Financial Highlights (as of the latest report):
- **Revenue**: Specific revenue figures not provided.
- **Income**: Comprehensive income figures not specified.
- **Number of Employees**: Total of **three employees**, including executives.
  
## Management Structure
- Led by **Douglas M. Polinsky (CEO and Chairman)** and **Joseph A. Geraci II (CFO and Director)**.
  
## Summary
Mill City Ventures III, Ltd. operates in the specialty finance market providing short-term, high-interest lending solutions to otherwise underserved borrowers. With a small and experienced management team, the company leverages its agility and creativity to address niche lending needs while avoiding regulatory burdens associated with traditional investment companies. Despite a lack of detailed financial metrics provided, the operational strategy suggests a goal of identifying high-risk adjusted returns through tailored financial products.

Mill City Ventures III, Ltd

10-K / May 9, 2025

10-K / April 2, 2024

10-K / May 9, 2025

Company Summary: Mill City Ventures III, Ltd.