Rhombic Changes Name and Direction

Rhombic Corp., Campbell, Calif., has changed its name to Silverado Financial Inc. and announced a new strategic direction focused on the mortgage and real estate industries.Rhombic also announced plans for a 5-for-1 reverse stock split, and said it will apply to the National Association of Securities Dealers for a change in trading symbol and CUSIP number. Silverado will be a services company focused on mortgage brokerage, mortgage banking, property management, commercial property investment, and software technology related to the real estate and lending industries, the company said. John E. Hartman, president and chief executive officer of Rhombic, said the reverse stock split "will allow the company to provide a higher value per share, position it to acquire valuable assets, and raise additional capital with lower dilution to our shareholders."