The outlook for 2017 is not expected to be as robust as 2016 due to rising interest rates which has cooled the market for refinancing, however, the Company is confident that it can roll out its new Loans4Less Members Co-op Club and recruit producing Loan Originators in California and then incrementally expand into other states as a licensed Mortgage Broker as directed by Steven Mark Hershman, Broker of Record. The Club plans to recruit members who are licensed as independent commission only salespersons and to staff employees.
Loans4Less Members Co-op is an investment club designed to build equity, capital gains and liquidity in LFLS common stock through member open market purchases. This may result in a higher market valuation with each member buying a relative amount of stock for investment purposes, fully-paid with funds from the member's post closing non-qualified earnings contributions and based on the number of closed monthly transactions. The Company expects to issue common stock bonus shares to members who meet certain target standards.
For example, assuming the Company recruits 15 members each closing 5 loans per month and they each invest $100 minimum per transaction, then this would result in $7,500 a month invested in LFLS common stock purchases. The Company believes its investment club can become very significant towards our ability to raise capital and become a fully reporting company. We also expect to attract branding partners in general consumer loan advertising and expect to realize a greater value for Loans4Less.com and our Loans4Less Federal Service Mark.
The Company repaid $62,700 of $125,000Convertible Notes with the balance extended until paid off or converted into commonstock. The Company is current on $142,000 of its approximate total outstandingobligations of which $79,000 is unsecured revolving debt accruing interest atbetween 8.75%-18.50%.
The Company states there are 28,136,730Common Stock shares and 21,500,000 Series A Preferred Stock shares issued andoutstanding.
The Company is expected to post its Annual Report in the foreseeable future along with an Attorney Current Information Letter.
For more information please visit Loans4Less.com
Forward-Looking Statements:
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "advertise," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in our annual report and/or other releases made by us. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and Loans4Less.com, Inc. and/or its officers or directors undertakes no obligation to update such statements.
SOURCE: Loans4Less.com