Business
LFLS Q1 2013 REPORT
LFLS Q1 2013 REPORT.
About this update from Loans4less.com, Inc.
[{"type":"text","content":"LFLS Q1 2013 REPORT\nMay 03, 2013\nOTC Disclosure & News Service\nRedondo Beach, CA - Loans4Less.com, Inc. reports Financial Results for the First Quarter of 2013\nLoans4Less.com, Inc. (OTC: LFLS) is pleased to announce certain financial results for the first quarter ended March 31, 2013. \nTotal 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.\nAt 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%.\n　\n\n\n\n\nQ1 2013 Income Statement versus Q1 2012\n\n\n\n\nRevenues\n\n$243.5K\n\nversus\n\n$215.6K\n\n+13 %\n\nNet Income \n $106.4K\n\nversus\n\n $79.5K \n\n+34 %\n\n\nQ1 2013 Balance Sheet versus Q1 2012\n\n\n\n\nCash and Equivalents\n\n$99K\n\nversus\n\n$53K\n\n+87 %\n\n\nTotal Liabilities\n\n$19K\n\nversus\n\n$134K\n\n-86%\n\n\nCommon Stock Outstanding\n\n\n\n\n30,750,000 versus 29,910,000\n\n\n\n\n\n\n\n\n\n\nPublic Float 3,157,981\n\n\n\n\n3,157,981 versus 2,407,981\n\n\n\n\n\n\n\n\n\"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.\n\"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.\nThe Company is positioning itself to attract JV partners...