The Board of Directors of Loans4Less.com, Inc. has authorized the issuance of 571,500 Common Stock shares and will accordingly expense same on the books of the Company based on a determined value of $0.65 per share. This determined value was based using a middle price as per the closing quotation of LFLS $0.51-$0.79 on pinksheets.com as of Friday, April 18th 2008.
Of the 571,500 shares issued the following is a breakdown of same:
Annual Vesting Schedule (Year 4 of 5) 350,000 shares, Steven M. Hershman 200,000 shares in connection with the acquisition of Loans4Less Limited (UK) and 21,500 shares for third party consultancy services.
The Company hereby confirms that there are 27,771,500 common stock shares issued and outstanding.