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

~~August~~November 15, 2001 Date of Report (Date of earliest event reported)

POINT WEST CAPITAL CORPORATION
( Exact name of registrant as specified in its charter)

Delaware	0-27736	94-3165263
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1700 Montgomery Street, Suite 250, San Francisco, CA 94111
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (415)394-9467

Item 5. Other Events

On ~~August~~November 15, 2001 Point West Capital Corporation issued a press release announcing ~~Second~~ third quarter results and ~~finaical~~financial condition.

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

99.1 Text of Press Release dated ~~August~~November 15, 2001.

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.

POINT WEST CAPITAL CORPORATION

By: /s/ John Ward Rotter

John Ward Rotter

Chief Executive Officer

Date: ~~August~~November 16, 2001

EXHIBIT INDEX

Exhibit

Number

Document Description

Sequential Page

Number

99.1

Text of Press Release dated ~~August~~November 15, 2001

5

FOR IMMEDIATE RELEASE ~~August~~November 15, 2001

POINT WEST CAPITAL CORPORATION ANNOUNCES ~~SECOND~~THIRD QUARTER RESULTS AND FINANCIAL CONDITION

SAN FRANCISCO --(~~August~~ November 15, 2001) Point West Capital Corporation (OTC Symbol: PWCC.OB) today reported the following:

(Dollars in thousands, except per share amounts)

	Three Months Ended				~~Six~~Nine Months Ended
	June, 30				June, 30
	September, 30				September, 30
		2001		2000		2001		2000
Loss before extraordinary gain	$	(13,~~484~~266)	$	(34,~~343~~724)	$	(58,~~563~~829)	$	(38,~~427~~151)
Extraordinary gain	$	--	$	--	$	--	$	1,242
Net Loss	$	(13,~~484~~266)	$	(34,~~343~~724)	$	(58,~~563~~829)	$	(26,~~185~~909)
Loss per share before extraordinary gain:
Basic	$	(0.4497) (1)	$	(1.0041) (1)	$	(12.6663) (1)	$	(12.0243) (2)
Diluted	$	(0.4497) (1)	$	(1.0041) (1)	$	(12.6663) (1)	$	(12.0243) (2)
Net loff per share:
Net loss per share:
Basic	$	(0.4497) (1)	$	(1.0041) (1)	$	(12.6663) (1)	$	(02.6506) (2)
Diluted	$	(0.4497) (1)	$	(1.0041) (1)	$	(12.6663) (1)	$	(02.6506) (2)

(1) Based on 3,352,624 weighted-average shares of common stock outstanding. (2) Based on 3,352,~~443~~504 weighted-average shares of common stock outstanding.

~~The~~ Point ~~Company~~West ~~reported~~Capital is a ~~net~~specialty ~~loss~~financial ~~of $1~~services company.5 ~~million~~Further ~~for~~information regarding the ~~three months ended June 30~~Company, ~~2001 compared~~its toresults ~~a net loss~~ of ~~$3.3~~operations ~~million~~and ~~for~~ the other ~~three~~matters ~~months~~discussed ~~ended~~in ~~June~~this ~~30,~~press ~~2000.~~release ~~The~~is ~~loss resulted~~contained ~~primarily~~in ~~from~~the aCompany's ~~$729,000~~Form ~~loss on securities~~ 10-QSB for the ~~three~~quarterly ~~months~~period ended ~~June~~ September 30, 2001, ~~compared~~filed towith athe ~~$3.3~~Securities ~~million~~and Exchange ~~net~~Commission ~~loss~~ on ~~securities~~November ~~for~~14, ~~the same period in 2000~~2001.

The ~~Company~~following ~~reported a net loss of $5.6 million for the six months ended June 30, 2001~~is ~~compared~~summary tobalance asheet ~~net~~information ~~loss~~as of ~~$2.2~~September ~~million for the six months ended June~~ 30, ~~2000. The loss resulted primarily from a $4.1 million loss on securities for the six months ended June 30,~~ 2001, compared to a $2.8 million net loss on securities for the same period in 2000. Results for the six-month period ended June 30, 2000 included the positive effects of (i) a $1.2 million extraordinary gain, net of income taxes of $822,000, related to the Company's wholly-owned viatical settlement subsidiary, which was reported in the first quarter of 2000 and (ii) $1.1 million of interest income recognized in connection with a warrant received during the first quarter of 2000.:

~~Point~~ Cash ~~West~~and ~~Capital is a specialty financial services company~~cash equivalents...................................................................... $1,041,815 Restricted cash........................................................................................... $2,631,246 Investment ~~Further information~~Securities ~~regarding~~ --available-for-sale............................................... $69,873 Loans ~~the Company~~receivable, ~~its~~net ~~results~~ of ~~operations~~unearned ~~and~~income ~~the~~of ........................................ $575,130 ~~other~~and ~~matters~~net ~~discussed~~of ~~in this~~an ~~press~~ allowance ~~release~~for isloan ~~contained~~....................................... losses inof $185,884................................................................................. $36,415,434 Purchased ~~the~~life ~~Company's Form 10~~insurance policies.............................................................. $28,894,657 Non-~~QSB for the quarterly period ended~~marketable ~~June~~ securities.......................................................................... $3,336,113 Total assets.................................................................................................. $74,216,348 Revolving certificates................................................................................. $8,903,745 Term certificates........................................................................................... $23,346,391 Securitized 30notes payable........................................................................... $33,653,767 Debenture payable....................................................................................... $6,500,000 Total liabilities.............................................................................................. $73,278,384 Accumulated ~~2001~~comprehensive ~~filed~~loss, ~~with~~net ~~the Securities and Exchange Commission on August 14~~of tax......................................... $(113,310) Accumulated deficit.................................................................................... $(26,210,294) Total ~~2001~~stockholders’ equity........................................................................ $937,964

The following is summary balance sheet information as of June 30, 2001:

Cash and cash equivalents...................................................................... $1,838,184 Restricted cash........................................................................................... $2,572,385 Investment Securities --available-for-sale............................................... $126,794 Loans receivable, net of unearned income of ........................................ $591,847 and net of an allowance for loan ....................................... losses of $190,000................................................................................. $36,614,135 Purchased life insurance policies.............................................................. $28,807,889 Non-marketable securities.......................................................................... $6,006,221 Total assets.................................................................................................. $78,410,597 Revolving certificates................................................................................. $8,982,346 Term certificates........................................................................................... $23,532,229 Securitized notes payable........................................................................... $34,341,464 Debenture payable....................................................................................... $6,500,000 Total liabilities.............................................................................................. $74,173,723 Accumulated comprehensive loss, net of tax......................................... $(80,774) Accumulated deficit.................................................................................... $(22,943,920) Total stockholders’ equity........................................................................ $4,236,874

(KEYWORD CALIFORNIA AND INDUSTRY KEYWORD: SPECIALTY FINANCE EARNINGS).

CONTACTS: POINT WEST CAPITAL CORPORATION, SAN FRANCISCO.
Alan B. Perper, 415/394-9467

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