LAS VEGAS, Aug. 19, 2010 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (Pink Sheets:IFSL) today reports the second quarter 2010 financial position and results of operations and the filing of a new amendment to its SEC Form 10 registration statement.
Net income for second quarter 2010 was $231,567, a strong improvement from first quarter 2010, which was a loss of ($446,640) and 125% better than second quarter of 2009 at $103,090. Gross revenue for the second quarter 2010 was $2,360,031, a slight decrease from first quarter 2010 of $2,650,761 and a total gross revenue of $5,010,791 for the six months ended June 30, 2010.
"2010 has been an eventful year as we have added staff, diversified our marketing, and vigorously pursued our goal of registering with the SEC and moving off the Pink Sheets to the OTCBB," stated Ideal Financial Chief Financial Officer, Ben Larsen. "We are pleased to see the results from our efforts to continue strong revenues while improving the bottom line."
The entire registration form and full financial statements for IFSL can be found on the SEC's Electronic Data-Gathering, Analysis, and Retrieval (EDGAR) web site.
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About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in personal cash flow management systems, Ideal uses its automated CashFlow Management© tools (www.myifs.com) and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. To view more information on Ideal's new humanitarian program soon to be launched please visit www.idealgoodness.com. To view a short video demo of our services go to www.ibuildwealthclub.net.
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Forward Looking Statements. This release may contain forward-looking statements as well as historical information. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks include, without limitation, the risk that the company's revenues will not continue to grow and that they may not meet projections because of a down turn in it's new marketing efforts and that the company will not become, or will be significantly delayed in becoming, a fully reporting company for one or more reasons, including a decision by the company not to pursue fully reporting status, absence of capital or other resources to satisfy compliance status, an adverse action or decision by a regulatory agency or other event. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein.