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First Magnus posts $8.11 million November net loss
By Caroline Salls
Pittsburgh, Dec. 26 - First Magnus Financial Corp. reported an $8.11 million net loss for November on $57,645 in revenues, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the District of Arizona.
The figures showed an improvement over a $60.86 million net loss for October, when the company recorded $42,423 in revenues.
Cash on Nov. 30 was $11.21 million, compared with $10.85 million on Oct. 31.
First Magnus, a Tucson, Ariz., mortgage loan originator, filed for bankruptcy on Aug. 21. Its Chapter 11 case number is 07-10578.
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