LFLS Q1 2013 REPORT
May 03 2013 - 4:50PM
OTC Markets
LFLS Q1 2013 REPORT
May 03, 2013
OTC Disclosure & News Service
Redondo Beach, CA - Loans4Less.com, Inc. reports
Financial Results for the First Quarter of 2013
Loans4Less.com, Inc. (OTC: LFLS) is pleased to announce certain
financial results for the first quarter ended March 31,
2013.
Total revenues for the Q1 2013 increased by approximately 13%
compared to Q1 2012. Q1 net income was 34% greater
compared to the same period a year earlier. The significant
improvement is due to greater awareness of Loans4Less.com’s online
services as well as exceptionally low mortgage rates.
At March 31, 2013, the Company had cash and liquid
investments of $99K, which is approximately 87% greater compared to
March 31, 2012. Total liabilities were reduced from approximately
$134K to $19K, a decrease of approximately 86%.
Q1 2013 Income Statement versus Q1 2012
|
|
Revenues
|
$243.5K
|
versus
|
$215.6K
|
+13 %
|
| Net Income |
$106.4K |
versus
|
$79.5K
|
+34 %
|
Q1 2013 Balance Sheet versus Q1 2012
|
|
Cash and Equivalents
|
$99K
|
versus
|
$53K
|
+87 %
|
Total Liabilities
|
$19K
|
versus
|
$134K
|
-86%
|
Common Stock Outstanding
|
|
30,750,000 versus 29,910,000
|
|
|
|
|
Public Float 3,157,981
|
|
3,157,981 versus 2,407,981
|
|
|
|
|
"The mortgage origination market is expected to remain very active
for the remainder of this year even though lender underwriting
standards are enabling only best credit quality borrowers to close
on their loans.The current mortgage market mainly consists of
Fannie Mae/Freddie Mac Conforming fixed rate loans for
refinancings," stated Steven M. Hershman, Chairman &
President.
"Purchase and refinancing activity is steady with
mortgage rates up from record lows. We anticipate highly
favorable market conditions to serve as a catalyst for ongoing
significant improvement as we continue to drive business growth and
plan initiatives for future expansion.
The Company is positioning itself to attract JV
partners or a Merger candidate with the intent to turn
Loans4Less.com into a national loan offering platform," stated
Steven M. Hershman, Chairman & President.
About Loans4Less.com,
Inc.
loans4less.com is a publicly traded online
mortgage loan brokerage focused on becoming a national loan
origination platform for standard "A" paper conforming residential
mortgage programs. Loans4Less.com maintains an A+ TrustLink rating
with the Better Business Bureau; provides very competitive rates,
terms & costs, daily rate updates, and other market
information; and prides itself on excellent and honest service.
Loans4Less.com does not operate a warehouse line of credit, hold
trust funds, lend directly or service loans and is not exposed to
the risks and/or problems associated with Sub-Prime or Alt "A"
lending. Loans4Less.com relies on various wholesale lenders for its
retail home loan programs. The main focus is to rapidly grow gross
revenues via smart and cost effective advertising, licensing and or
third party agreements that effectively build the Loans4Less brand
name in order to maximize shareholder values.For more information please contact Chairman & President
Steven M. Hershman at loans4less.com or (310)
540-0157 Ext 103.
Forward-Looking Statements
This release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E the Securities Exchange Act of 1934, as amended and
such forward-looking statements are made pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. "Forward-looking statements" describe future expectations,
plans, results, or strategies and are generally preceded by words
such as "may", "future", "plan" or "planned", "will" or "should",
"expected," "anticipates", "draft", "eventually" or "projected".
You are cautioned that such statements are subject to a multitude
of risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in our annual report and/or other releases made by us.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements. The forward-looking statements in this release are made
as of the date hereof and Loans4Less.com, Inc. undertakes no
obligation to update such statements.
Contact:
Steven M. Hershman
Chairman & President
877-981-5626 Office
310-408-1058 Mobile
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