SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
December 31, 1998
CHAPMAN HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
Maryland 0-23587 52-2069777
(State or other (Commission (IRS
Employer
jurisdiction of File Number)
Identification No.)
incorporation)
401 East Pratt Street, 28th Floor, Baltimore, Maryland 21202
(Address of principal executive office) (Zip Code)
Registrant's telephone number, including area code, (410) 625-9656
Item 5. Other Events.
Press Release:
Media Contact: Demetris Brown
The Chapman Company
800-752-1013
www.chapmancompany.com
Chapman Holdings, Inc. Reports 1998 Year End Earnings
March 19, 1999 - Chapman Holdings, Inc. of Baltimore
Maryland, (NASDAQ: CMAN), the first African American owned
securities brokerage firm in history to become a publicly-
traded company, announced audited earnings for the Company's
year ending December 31, 1998. Chapman Holdings, Inc. is
the parent company of The Chapman Company, a full service
brokerage operation.
Total revenues for the year decreased by $56,732 or 1.9% to
$2,935,069 for 1998 from $2,991,801 for 1997. Revenues
increased $581,225 in the main business areas versus the
same period prior year before losses related to the
company's inventory of trading stock of $637,957.
The Company has undertaken an extensive expansion of its
core business operations: retail and institutional
brokerage, government and public finance, corporate finance
and investment related special events. This expansion
involved; hiring additional personnel, branch expansion,
technology investment and product expansion. "We incurred
expenses and made investments in our company this year to
seek future growth of revenues and earnings.", says Nathan
A. Chapman, Jr., President of Chapman Holdings, Inc.
The Company had a net loss of $1,130,758 or $(.40) per
share, for 1998 versus net income of $336,987 or $.17 per
share reported for 1997. The Company experienced significant
growth in its business activities and the number of its
employees. The Company's targeted growth requires increased
investment in personal, financial and management systems and
facilities.
Baltimore, Maryland based Chapman Holdings Inc. went public
on February 26, 1998. The Company, has satellite offices
in Alabama, California, Colorado, Illinois, Mississippi,
Pennsylvania, Tennessee and Texas.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report
to be signed on its behalf by the undersigned thereunto duly
authorized.
CHAPMAN HOLDINGS, INC.
Date: March 19, 1999 By:/S/ NATHAN A. CHAPMAN
Nathan A. Chapman, Jr.
President
