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<title>8-K dated April 4, 2003</title>
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<b>

<p ALIGN="CENTER">UNITED STATES<br>
<font SIZE="4">SECURITIES AND EXCHANGE COMMISSION<br>
Washington D.C. 20549<br>
<br>
FORM 8-K</font></p>
</b>

<p align="center"><font size="3"><b>CURRENT REPORT<br>
Pursuant to Section 13 or 15(d) of the<br>
Securities Exchange Act of 1934</p>
</b></font>

<p>&nbsp;</p>

<p align="center"><u><font SIZE="4">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
April 4, 2003</font>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<br>
</u>Date of Report (Date of earliest event reported)<font COLOR="#ffffff"></p>
</font>

<p>&nbsp;</p>
<b><font COLOR="#ffffff">

<p ALIGN="CENTER">X</font><font SIZE="4"> </font></b><font size="3"><u><strong>POINT WEST
CAPITAL CORPORATION</strong></u><br>
(Exact name of registrant as specified in its charter)</font><b><font SIZE="4"></p>
</font></b>

<p ALIGN="CENTER">&nbsp;</p>

<p ALIGN="CENTER">&nbsp;</p>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="628">
  <tr>
    <td WIDTH="34%" VALIGN="TOP"><b><p ALIGN="CENTER">Delaware<br>
    </b>(State or other jurisdiction of<br>
    incorporation or organization)</td>
    <td WIDTH="36%" VALIGN="TOP"><b><p ALIGN="CENTER">0-27736<br>
    </b>(Commission File<br>
    Number)</td>
    <td WIDTH="30%" VALIGN="TOP"><b><p ALIGN="CENTER">94-3165263<br>
    </b>(I.R.S. Employer<br>
    Identification Number)</td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="7" WIDTH="638">
  <tr>
    <td WIDTH="51%" VALIGN="TOP"><b><p ALIGN="CENTER">1750 Montgomery Street<br>
    San Francisco, California<br>
    </b>(Address of principal executive offices)</td>
    <td WIDTH="49%" VALIGN="bottom"><b><p ALIGN="CENTER">94111<br>
    </b>(Zip Code)</td>
  </tr>
  <tr>
    <td VALIGN="TOP" COLSPAN="2"><b><p ALIGN="CENTER">(415) 394-9467<br>
    </b>(Registrant&#146;s telephone number, including area code)</td>
  </tr>
</table>
</center></div>

<p ALIGN="CENTER">&nbsp;</p>

<p ALIGN="CENTER">&nbsp;</p>

<p ALIGN="CENTER">&nbsp;</p>

<p>&nbsp;</p>
<b><u>

<p>Item 5. Other Events</u></p>
</b>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
On April 4, 2003,&nbsp; Point West Capital Corporation Announced Updated Information.</p>
<u><b>

<p>Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.</p>
</b></u>

<p>(c) Exhibits</p>

<p>&nbsp;&nbsp;&nbsp;&nbsp; 99.1&nbsp;&nbsp;&nbsp; Text of Press Release dated On April 4,
2003.</p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p align="center">1</p>
<u><b>

<p ALIGN="CENTER">SIGNATURES</p>
</b></u>

<p>&nbsp;</p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
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.</p>

<p>Date: April 4, 2003</p>

<p>&nbsp;</p>
<div align="right">

<table border="0" cellpadding="0" cellspacing="0" width="50%">
  <tr>
    <td width="100%"><small>POINT WEST CAPITAL CORPORATION</small></td>
  </tr>
  <tr>
    <td width="100%"></td>
  </tr>
  <tr>
    <td width="100%">By:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/&nbsp; John Ward Rotter</td>
  </tr>
  <tr>
    <td width="100%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    John Ward Rotter</td>
  </tr>
  <tr>
    <td width="100%">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    Chief Executive Officer</td>
  </tr>
</table>
</div>

<p align="center">2</p>

<blockquote>
  <blockquote>
    <blockquote>
      <u><b><p ALIGN="CENTER"><font size="2">EXHIBIT INDEX</font></p>
      </b></u><div align="center"><center><table BORDER="1" CELLSPACING="1" CELLPADDING="8"
      WIDTH="582" height="84">
        <tr>
          <td WIDTH="155" VALIGN="top" height="30" style="vertical-align: text-bottom"><b><p
          align="center"><font size="2">Exhibit<br>
          <u>Number</u></font></b></td>
          <td WIDTH="263" VALIGN="TOP" height="30"><u><p ALIGN="CENTER"><font size="2">Document
          Description</u> </font></td>
          <td WIDTH="114" VALIGN="TOP" height="30"><p align="center"><font size="2"><b>Sequential
          Page<br>
          <u>Number</u></b></font></td>
        </tr>
        <tr>
          <td WIDTH="155" VALIGN="TOP" height="15"><p align="center"><font size="2">99.1</font></td>
          <td WIDTH="263" VALIGN="TOP" height="15"><p align="left"><font size="2">Text of Press
          Release dated April 4, 2003</font></td>
          <td WIDTH="114" VALIGN="TOP" height="15"><blockquote>
            <blockquote>
              <p align="center"><font size="2">5</font></p>
            </blockquote>
          </blockquote>
          </td>
        </tr>
      </table>
      </center></div>
    </blockquote>
  </blockquote>
</blockquote>

<p align="center">3</p>

<p align="center">&nbsp;</p>
<font FACE="Courier">

<p ALIGN="RIGHT">FOR IMMEDIATE RELEASE<br>
April 4, 2003</p>
<b>

<p>&nbsp;</p>

<p ALIGN="CENTER">POINT WEST CAPITAL CORPORATION<br>
ANNOUNCES UPATED INFORMATION</p>
</b>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; SAN FRANCISCO </font><font
face="Symbol">--</font><font FACE="Courier"> (April 4, 2003) Point West Capital
Corporation (OTC Symbol: PWCC.OB) announced today that, as of March 31, 2003, the Company
had approximately $150,000 of cash and cash equivalents, approximately $140,000 of other
miscellaneous receivables, and less than $10,000 of payables. </p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company also announced
that, since the third quarter of 2002, the Company&#146;s only business activity has been
its continued efforts to seek consent (the &quot;Consent&quot;) from the Allegiance
Capital Trust investors (the &quot;Investors&quot;) to dissolve certain of the Allegiance
entities and transfer the debt certificates held by Allegiance Funding I, LLC
(&quot;Allegiance Certificates&quot;). The Allegiance Certificates are the Company&#146;s
remaining material non-cash asset. See the Company&#146;s Form 10-QSB for the quarterly
period ended September 30, 2002 for further information regarding the Allegiance
Certificates. </p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; At March 31, 2003, the
Allegiance loans receivable were $28.9 million, assets held for sale (which include
funeral homes purchased from two Allegiance borrowers and a funeral home that Allegiance
acquired via foreclosure) were $1.4 million and the Allegiance debt payable was $28.5
million. If the Company receives the Consent, the loans receivable, assets held for sale,
and the debt payable reflected on the Company&#146;s consolidated balance sheet will be
eliminated because Point West Capital will no longer control Allegiance Funding I, LLC. </p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company has been
provided with some information regarding the performance of the underlying loans and,
based on the apparent continuing problems with the loans, the Company believes that the
loans receivable have declined in value and the Allegiance Certificates have declined in
value accordingly. As a result, if the Consent had been received on March 31, 2003, the
Company&#146;s assets would have been approximately $1.8 million, which consists of cash,
the estimated value of the Allegiance Certificates and the estimated value of other
miscellaneous receivables, with negligible payables.</p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company does not have
any business operations and does not have any prospect of resuming business operations. If
the Company receives the Consent, the Company plans to seek shareholder approval to
dissolve the Company. Following that approval, the Company will attempt to sell the
Allegiance Certificates and other miscellaneous receivables in order to distribute the
resulting proceeds together with the Company&#146;s other assets to the shareholders, less
any amounts retained to satisfy any liabilities. No assurance can be given that the
Consent or other resolution will be obtained or, if obtained, that the Company will be
able to sell the Allegiance Certificates on satisfactory terms or at all. If it is unable
to resolve satisfactorily this matter, the Company may seek relief through a Chapter 7
bankruptcy liquidation proceeding.</p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ward Rotter, the CEO, and
Joanna Zesiger, the CFO, are the only remaining employees of the Company. They work on an
hourly basis as needed. The office is leased on a month-by-month basis.</p>

<p ALIGN="JUSTIFY">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; The Company does not have
the resources to bear ongoing expenses necessary to produce audited financial statements
and to continue to file reports under the Securities and Exchange Act of 1934. As a
result, the Company does not anticipate filing a Form 10-KSB for the year ended December
31, 2002 or any future Form 10-QSB. Any future material information relating to the
Company will be reported on Form 8-K. </p>

<p ALIGN="JUSTIFY">CONTACTS:&nbsp;&nbsp;&nbsp;&nbsp; POINT WEST CAPITAL CORPORATION, SAN
FRANCISCO.<br>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; John W.
Rotter, 415/362-1977 x1</p>
</font>

<p>&nbsp;</p>
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{"company-data": {"conformed-name": "POINT WEST CAPITAL CORP", "cik": "0001002813", "assigned-sic": "6199", "irs-number": "943165263", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-27736", "film-number": "03647217"}, "business-address": {"street1": "1700 MONTGOMERY ST", "street2": "STE 250", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111", "phone": "4153949467"}, "mail-address": {"street1": "1700 MONTGOMERY ST", "street2": "STE 250", "city": "SAN FRANCISCO", "state": "CA", "zip": "94111"}}
8-K dated April 4, 2003
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
April 4, 2003
Date of Report (Date of earliest event reported)
X
POINT WEST
CAPITAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
0-27736
(Commission File
Number)
94-3165263
(I.R.S. Employer
Identification Number)
1750 Montgomery Street
San Francisco, California
(Address of principal executive offices)
94111
(Zip Code)
(415) 394-9467
(Registrant's telephone number, including area code)
Item 5. Other Events
On April 4, 2003,  Point West Capital Corporation Announced Updated Information.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(c) Exhibits
99.1    Text of Press Release dated On April 4,
2003.
1
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.
Date: April 4, 2003
POINT WEST CAPITAL CORPORATION
By:        /s/  John Ward Rotter
John Ward Rotter
Chief Executive Officer
2
EXHIBIT INDEX
Exhibit
Number
Document
          Description
Sequential
          Page
Number
99.1
Text of Press
          Release dated April 4, 2003
5
3
FOR IMMEDIATE RELEASE
April 4, 2003
POINT WEST CAPITAL CORPORATION
ANNOUNCES UPATED INFORMATION
SAN FRANCISCO
--
(April 4, 2003) Point West Capital
Corporation (OTC Symbol: PWCC.OB) announced today that, as of March 31, 2003, the Company
had approximately $150,000 of cash and cash equivalents, approximately $140,000 of other
miscellaneous receivables, and less than $10,000 of payables.
The Company also announced
that, since the third quarter of 2002, the Company's only business activity has been
its continued efforts to seek consent (the "Consent") from the Allegiance
Capital Trust investors (the "Investors") to dissolve certain of the Allegiance
entities and transfer the debt certificates held by Allegiance Funding I, LLC
("Allegiance Certificates"). The Allegiance Certificates are the Company's
remaining material non-cash asset. See the Company's Form 10-QSB for the quarterly
period ended September 30, 2002 for further information regarding the Allegiance
Certificates.
At March 31, 2003, the
Allegiance loans receivable were $28.9 million, assets held for sale (which include
funeral homes purchased from two Allegiance borrowers and a funeral home that Allegiance
acquired via foreclosure) were $1.4 million and the Allegiance debt payable was $28.5
million. If the Company receives the Consent, the loans receivable, assets held for sale,
and the debt payable reflected on the Company's consolidated balance sheet will be
eliminated because Point West Capital will no longer control Allegiance Funding I, LLC.
The Company has been
provided with some information regarding the performance of the underlying loans and,
based on the apparent continuing problems with the loans, the Company believes that the
loans receivable have declined in value and the Allegiance Certificates have declined in
value accordingly. As a result, if the Consent had been received on March 31, 2003, the
Company's assets would have been approximately $1.8 million, which consists of cash,
the estimated value of the Allegiance Certificates and the estimated value of other
miscellaneous receivables, with negligible payables.
The Company does not have
any business operations and does not have any prospect of resuming business operations. If
the Company receives the Consent, the Company plans to seek shareholder approval to
dissolve the Company. Following that approval, the Company will attempt to sell the
Allegiance Certificates and other miscellaneous receivables in order to distribute the
resulting proceeds together with the Company's other assets to the shareholders, less
any amounts retained to satisfy any liabilities. No assurance can be given that the
Consent or other resolution will be obtained or, if obtained, that the Company will be
able to sell the Allegiance Certificates on satisfactory terms or at all. If it is unable
to resolve satisfactorily this matter, the Company may seek relief through a Chapter 7
bankruptcy liquidation proceeding.
Ward Rotter, the CEO, and
Joanna Zesiger, the CFO, are the only remaining employees of the Company. They work on an
hourly basis as needed. The office is leased on a month-by-month basis.
The Company does not have
the resources to bear ongoing expenses necessary to produce audited financial statements
and to continue to file reports under the Securities and Exchange Act of 1934. As a
result, the Company does not anticipate filing a Form 10-KSB for the year ended December
31, 2002 or any future Form 10-QSB. Any future material information relating to the
Company will be reported on Form 8-K.
CONTACTS:     POINT WEST CAPITAL CORPORATION, SAN
FRANCISCO.
John W.
Rotter, 415/362-1977 x1