Montreal, Quebec--(Newsfile Corp. - November 28, 2013) - IOU FINANCIAL
INC. (CNSX: IOU) ("IOU" or "the Company") recorded revenue for
the quarter ended September 30, 2013 of $1,510,202 versus $277,813 for the
quarter ended September 30, 2012. The Company closed its third quarter of fiscal
2013 with a net loss attributable to common shareholders of $44,949, or $0.01
per share, compared with a net loss of $383,808 or $0.02 per share during the
same period in 2012.
The Company recorded revenue during the nine month period ended
September 30, 2013 of $2,764,060 versus $648,163 for the nine month period ended
September 30, 2012. The Company recorded a net loss attributable to common
shareholders for the nine month period ended September 30, 2013 of $1,022,517 or
$0.04 per share, compared with a net loss of $1,188,425 or $0.04 per share
during the same period in 2012.
At September 30 2013, total assets amounted to $17,131,981
compared with $8,653,374 at December 31, 2012, and consisted mostly of
commercial loans receivable and cash. Total liabilities amounted to $9,703,734
compared with $3,405,259 at December 31, 2012, and consisted mostly of funds
owed on the company's financial credit facility. Shareholders' equity showed a
surplus of $7,428,247, compared with a surplus of $5,248,115 on December 31,
2012.
IOU Financial's financial statements and management discussion
& analysis for the period ended September 30, 2013 have been filed on SEDAR
and are available at www.sedar.com.
About IOU Financial Inc.
IOU Financial, via its U.S. subsidiary, IOU Central, provides
small businesses throughout the U.S. access to the capital they need to seize
growth opportunities quickly. Typical customers include medical and dental
practices, grocery and retail stores, restaurant
and hotel franchisees and e-commerce companies. In a unique approach to lending, IOU Central's advanced, automated application
and approval system accurately assesses applicants' financial realities, with an
emphasis on day-to-day cash flow trends. It makes loans of up to $100,000 to
qualified applicants within a few business days, with affordable charges
favorable to cash-flow management. IOU Central's speed and transparency make it
a trusted alternative to banks. To learn more visit: www.ioucentral.com.
Forward Looking Statements
Certain information set forth in this news release may
contain forward-looking statements that involve substantial known and unknown
risks and uncertainties. These forward-looking statements are subject to
numerous risks and uncertainties, certain of which are beyond the control of IOU
including, but not limited to, the impact of general economic conditions,
industry conditions, dependence upon regulatory and shareholder approvals, the
execution of definitive documentation and the uncertainty of obtaining
additional financing. Readers are cautioned that the assumptions used in the
preparation of such information, although considered reasonable at the time of
preparation, may prove to be imprecise and, as such, undue reliance should not
be placed on forward-looking statements. IOU does not assume any obligation to
update or revise its forward-looking statements, whether as a result of new
information, future events, or otherwise.
The CNSX has not reviewed and does not accept responsibility
for the adequacy or accuracy of this release.
For more information, please contact:
Philippe Marleau
Chief Executive Officer
(514) 789-0694 ext.
225
Mayco Quiroz
Chief Financial Officer
(514) 789-0694 ext.
298
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