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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Complete Financial Solutions Inc (CE) | USOTC:CFSU | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.0055 | 0.00 | 01:00:00 |
Complete Financial Solutions Inc. (OTC trading symbol
“CFSU”) has posted its 3rd quarter operating results. Revenues in
the 3rd quarter were $1,844,304, an increase of 80.94% over the same
period in 2011. Year to date 2012 Revenues of $4,543,096 compared to $2,795,680
in 2011, a 62.5% increase.
“We are very pleased with our 2012 results” commented Allen
Ringer, Investor Relations Officer at Complete Financial. “We generate most of
our Revenues through our subsidiary Acceptance Capital Mortgage Corporation”
says Mr. Ringer, “and many of our Acceptance branches are having a terrific
year. In addition we have attracted a number of quality new branches and that
is really helping our resurgence.”
This growth in Revenue at Acceptance Capital was offset by a
lag in purchasing loans from warehouse lines, an issue which is currently
systemic and common to many lenders. As a result ACMC held a significant
portion of its Revenue in Accounts Receivable, which led to a small operating
Loss in the 3rd quarter. Mr. Ringer went on to say that “The good
news for us will be when these loans are purchased from the warehouse line by
Investors, at which time we will to convert Accounts Receivables to Income, and
we should see a nice return to profits in the 4th quarter.”
Complete Financial Solutions
Inc. is an emerging financial services company. Through its subsidiary
companies, CFSI offers mortgage origination and processing services in 24+
states. Its subsidiary Acceptance Capital Mortgage Corporation is a HUD
approved lender thereby allowing ACMC to both bank and broker FHA loans. ACMC
offers a full spectrum of common and niche mortgage products through a variety
of correspondent and broker relationships. Its newest subsidiary Insurance
Solutions Inc. offers protection products to mortgage customers of ACMC and to
the general public, where properly licensed to do so. For more information,
visit our website at www.cfsi.biz.
Forward Looking Statements
1 Year Complete Financial Solut... (CE) Chart |
1 Month Complete Financial Solut... (CE) Chart |
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