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Here are 1-3 brief analogies for Old Market Capital (OMCC):

• A micro-cap Berkshire Hathaway.
• Like a smaller-scale Markel Group (MKL), investing in and operating diverse businesses.

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• Debt Financing: Providing various forms of loans, including senior secured, unitranche, second lien, and subordinated debt, to middle-market companies.
• Equity Investments: Making direct investments in the common or preferred equity of private companies, often alongside debt financing.

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As an AI, I've conducted a search for "Old Market Capital" (symbol: OMCC) as a public company to identify its major customers. However, I was unable to find evidence of a currently active, publicly traded company by this exact name and symbol that has publicly disclosed its major customers or a detailed business model from which customer categories could be inferred.

Therefore, I cannot provide a list of its major customers or categories of customers, as the requested information is not publicly available for a company matching "Old Market Capital (OMCC)".

It's possible that:

• The company is a private entity, and thus its customer information is not publicly disclosed.
• The company is no longer actively traded under this symbol.
• The symbol refers to a very small, illiquid, or obscure entity for which such detailed customer information is not publicly available through standard financial databases and SEC filings.
• The company name or symbol might be slightly different.

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• J.P. Morgan Chase Bank, N.A. (JPM)
• PricewaterhouseCoopers LLP

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Jeffrey Royal | Chairman/CEO

Since January 2006, Mr. Royal has served as an owner, Chairman, and CEO of Dundee Bank. He holds both a Bachelor's and a Master's degree in Business Administration from Creighton University and is also a board member of Boston Omaha (BOC).

Charlie Krebs | Chief Financial Officer

Mr. Krebs joined Old Market Capital (OMCC) as Chief Financial Officer in June 2024. Before OMCC, he accumulated 18 years of experience in various treasury and finance roles at Peter Kiewit Sons, Inc., a Fortune 500 international engineering and construction company, where he most recently held the position of Sr. Manager of Treasury. Mr. Krebs earned a bachelor's degree in financial management from Hillsdale College.

Dylan Flott | CPA Controller

Mr. Flott became Controller at OMCC in November 2024. Prior to joining OMCC, he spent 11 years at Deloitte & Touche LLP in various roles, most recently as a Senior Manager. In this capacity, he served both publicly traded and privately held clients with assets ranging from $75 million to $300 billion. Mr. Flott holds a BA in Accounting and Business Administration from Doane University and is an active CPA permit holder in Nebraska, as well as a member of both the American Institute of Certified Public Accountants and the Nebraska Society of Certified Public Accountants.

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The public company Old Market Capital (OMCC) has undergone a significant business transformation, shifting from a specialized consumer finance company to a holding company with a controlling interest in a broadband provider, Amplex Electric Inc., while actively seeking further acquisitions in sectors such as fintech and healthcare. This strategic pivot introduces several key risks to the business.

1. Operational and Strategic Risks from Business Transformation and Acquisition Strategy: The primary risk stems from OMCC's fundamental restructuring and its ongoing strategy of acquiring and integrating new businesses, particularly within the broadband sector and planned expansion into fintech and healthcare. This involves challenges related to integrating acquired operations, managing market competition in new sectors, and the potential for business combination failures or inappropriate target selection, which could erode investor confidence and impact share prices. The company's prior operational losses and negative earnings per share also highlight the financial challenges of this transition.
2. Regulatory and Competitive Pressures in the Broadband Sector: As a provider of broadband internet, voice over internet protocol, and video services in Northwest and Northcentral Ohio, OMCC (through Amplex) is subject to a complex and evolving regulatory landscape at federal, state, and local levels. Changes in these regulations, such as the reclassification of internet services or new privacy mandates, could lead to increased compliance costs and affect service offerings. Furthermore, the broadband sector is characterized by intense competition from larger, more resource-rich competitors, which could negatively impact Amplex's market share and profitability.
3. Liquidity and Capital Resource Management: While recent reports suggest sufficient liquidity for the near term, OMCC's reliance on cash flows from operations and its borrowing capacity (including a USDA Rural Utilities Service Reconnect loan) is critical for meeting financial obligations and funding its ambitious growth and acquisition initiatives. The significant capital investments required for expanding its fiber network and pursuing additional acquisitions underscore the importance of effective liquidity and capital resource management.

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The increasing prevalence and scale of large institutional direct lending platforms and funds, often backed by sovereign wealth funds, pension funds, and major asset managers, poses a clear emerging threat. These entities are increasingly bypassing traditional intermediaries like Business Development Companies (BDCs) such as Old Market Capital to provide direct debt and equity financing to middle-market companies. This shift allows for potentially lower cost of capital for borrowers and intensified competition for attractive investment opportunities, potentially squeezing profit margins and deal flow for established BDCs.

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1. Growth in Fiber Broadband Subscribers and Infrastructure: The company anticipates continued expansion of its fiber infrastructure and an increase in its fiber subscriber base through its subsidiary, Amplex. This involves building out fiber networks and connecting more premises.
2. Transition to Higher-Speed Fiber Services: A core part of Old Market Capital's strategy is to transition existing customers from legacy services, such as fixed wireless, to higher-speed fiber network offerings. This shift is expected to enhance service value and revenue per customer.
3. Strategic Acquisitions and Investments: Old Market Capital is actively pursuing additional acquisitions to drive future growth. The company seeks opportunities to invest shareholder capital in resilient businesses, both within the broadband sector and potentially in other industries, that demonstrate potential for stable returns and growth.

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Share Repurchases

• Old Market Capital's shares outstanding decreased by 6.50% in the past year, indicating a net reduction in shares, potentially through buybacks.
• While a tranche update on an equity buyback plan from May 29, 2019, was mentioned, specific dollar amounts or further authorizations within the last 3-5 years (late 2020 to late 2025) were not detailed in the available information.

Share Issuance

• On October 6, 2025, Adam K. Peterson and affiliated entities received 5,493 vested shares at no cash cost as compensation.
• Brendan J. Keating, a director, received 5,932 shares of common stock as compensation on October 6, 2025.
• Jeffrey C. Royal, CEO, was issued 13,183 shares of common stock as compensation under his employment agreement, with an effective date of October 6, 2025.

Outbound Investments

• Old Market Capital Corporation, formerly Nicholas Financial, Inc., acquired Amplex Internet, which was already contributing to cash flow.
• The company's strategy is to actively invest shareholder capital in resilient businesses with exceptional management teams that deliver reliable cash flow, driving further investment and growth.

Capital Expenditures

• Capital expenditures for the last 12 months, as of late 2025, amounted to -$11.78 million.
• Old Market Capital (OMCC) operates as a telecommunications provider offering broadband internet, Voice over Internet Protocol (VoIP), and video services, primarily in Northwest and Northcentral Ohio.
• These capital expenditures are focused on utilizing advanced technology to enhance connectivity for residential and commercial customers.