The Board of Directors of Loans4Less.com, Inc. has authorized the issuance of 571,500 Common Stock shares and will expense 371,500 shares 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 for Control Persons (Year 4 of 5) 350,000 shares (expensed at $0.65).
Third party consultancy services 21,500 shares (expensed at $0.65).
200,000 shares to the Steven M. Hershman Trust (expensed at $0.25) in connection with the 100% acquisition of Loans4Less Limited (UK) as previously announced.
The Company hereby confirms that there are 27,771,500 common stock shares issued and outstanding.