General Finance and Development, Inc. Announces 3rd Quarter Results

General Finance and Development, Inc. (OTC Markets: GFDV) announced today 3rd quarter results for 2012.

The highlights are summarized below. However, we urge investors to read our 2012 3rd Quarter Report posted at www.genfd.com and www.otcmarkets.com. The limited information that follows in this press release is not adequate for making an informed investment judgment.

The highlights for the quarter include an 80% percent increase in sales revenue over the same period in 2011. GFD reported sales of $913,898 compared to $506,867 for the 3^rd quarter of 2011.

Net income was $164,374 for the quarter compared to $12,955 for the 3^rd quarter of 2011.

GFD realized a net income of $166,880 for the nine month period ending September 30, 2012 compared to $43,336 for the same period in 2011.

Current assets exceed current liabilities by a ratio of 6.9 to 1.

The company continues to have a low amount of long term debt of $4,365.

Financial results are being driven by GFD’s main operating subsidiary Corporate Art Force (CAF). During the quarter the company continued efforts to manage existing enterprise level clients and develop the comprehensive art management program being marketed as the SmartArt Program™.  

 

During the quarter a finance module that allows small to medium size organizations to implement an artwork program for as little as $125 per month was designed.

 

CAF management believes when managed properly, art provides an intrinsic return on investment evidenced by improved employee retention and productivity, customer and public awareness and patient outcomes for healthcare organizations.

The Minneapolis based company is a model being developed for expansion into other cities with the SmartArt Program being a key to that expansion.

Since inception in September 2009, CAF has framed and distributed over 17,000 pieces of artwork for more than 150 clients to locations in 40 states.

CAF management believes the market for the services they provide is estimated to be over $1 billion and there currently is no single provider who has as much as 10 percent of the market. The industry is considered to be fragmented and non-standardized and CAF believes there is an opportunity to capture a significant share of the market within the next several years by recruiting and training art consultants who will become certified as part of the company’s proprietary Art Consultant Certification Program.   

General Finance and Development, Inc. provides capital and business development services to small and medium size companies. Capital is provided to qualified companies by equity and/or strategic loan agreements. Business development services include business planning, organization and management development. GFD also pursues merger/acquisitions and joint venture projects.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements. More information regarding General Finance and Development including financial statements and reports is available at the company’s website www.genfd.com and www.otcmarkets.com.