Business
LFLS Q3 2012 REPORT
LFLS Q3 2012 REPORT.
About this update from Loans4less.com, Inc.
[{"type":"text","content":"Loans4Less.com, Inc. reports Financial Results for the Third Quarter of 2012\nLoans4Less.com, Inc. (OTC: LFLS) is pleased to announce certain financial results for the third quarter ended September 30, 2012. \nTotal revenues for the third quarter of 2012 increased by approximately 56% compared to the third quarter of 2011. Third quarter net income was 437% 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 September 30, 2012, the Company had cash and liquid investments of $72.5K, which is approximately 806% greater compared to September 30, 2011. Total liabilities were reduced from approximately $206.6K to $79.4K, a decrease of approximately 61%.\n　\n\n\n\n\nQ3 2012 Income Statement versus Q3 2011\n\n\n\n\nRevenues\n\n$730K\n\nversus\n\n$468K\n\n+ 56%\n\n\nNet Income\n\n$258K\n\nversus\n\n$48K\n\n+ 437%\n\n\nQ3 2012 Balance Sheet versus Q3 2011\n\n\n\n\nCash and Equivalents\n\n$72.5K\n\nversus\n\n$8K\n\n+ 806%\n\n\nTotal Liabilities\n\n$79.4K\n\nversus\n\n$206.6K\n\n- 61.57%\n\n\nCommon Stock Outstanding\n\n\n\n\n30,550,000 versus 31,155,000\n\n\n\n\n\n\n\n\n\n\nPublic Float\n\n\n\n\n3,157,981 versus 2,115,078\n\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 continues to rise with mortgage rates at 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 interviewing CPA firms with the view of attaining audited financial statements in Q1 2013 in order to position ourselves to be placed in a Recognized Manual and be able to raise capital at favorable terms for growth initiatives,\" stated Steven M. Hershman, Chairman & President.\nAbout Loans4Less.com, Inc.\nloans4less.com is a publicly traded online mortgage loan brokerag...