TS&B Holdings, Inc. (TSBB) is engaged in the business of financial services through its subsidiary, TS&B Financial Services, Inc. (TS&B-FS). TS&B-FS is an independent financial services firm serving customers nationally from its headquarters in Orlando, Florida, and offices in Freeport, Illinois, and Tavernier, Florida. TS&B-FS provides investment, merchant and mortgage banking services to micro-, small- and mid-cap businesses. TS&B-FS also offers consulting services. Servicing businesses primarily in the $5 million to $150 million revenues range, TS&B-FS creates value by molding strategic direction, fostering positive net-present-value capital decisions and restructuring operations to increase free cash flow for client businesses. Prior to the fiscal year ended June 30, 2003 (fiscal 2003), the principal business of the Company was the manufacture of odor-reducing and oil and grease-absorbent products.