...favorable market conditions as a catalyst for ongoing significant improvement in our business growth and future expansion.
Scottsdale, Arizona (PRWEB) October 16, 2012
QualityStocks would like to highlight Loans4Less.Com, Inc. (OTCBB: LFLS). The company operates as an online mortgage brokerage firm primarily in the U.S., focused on developing a national loan origination platform for standard “A” paper conforming residential mortgage programs. The company also provides CA rates, terms and costs, daily rate updates, and other market information, as well as real estate commissions.
In the company’s news yesterday,
Loans4Less.com reported certain preliminary financial results for the third quarter ended September 30, 2012. According to the press release, the complete 2012 third quarter financial results will be posted in due course.
Revenues for the third quarter of 2012 are expected to be approximately 56% higher than the numbers reported for the third quarter of 2011. Third quarter net income is anticipated to be 437% greater compared to the same period a year earlier. Preliminary results also indicate that there will be a substantial improvement in the balance sheet.
Loans4Less.com believes the mortgage origination market will stay very active for the remainder of 2012 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.
Steven M. Hershman, Chairman & President, stated, “Purchase activity is gaining traction with mortgage rates at record lows. Loans4Less.com sees highly favorable market conditions as a catalyst for ongoing significant improvement in our business growth and future expansion.”
Q3 2012 Income Statement versus Q3 2011
Revenues: $730K versus $468K +56%
Net Income: $258K versus $48K +437%
Q3 2012 Balance Sheet versus Q3 2011
Cash: $72.5K versus $8K
Total Liabilities: $79.4K versus $206.6K
Common Stock Outstanding
30,550,000 versus 31,155,000
3,157,981 versus 2,115,078
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This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.