MONTREAL, April 18, 2014 /CNW Telbec/ - IOU FINANCIAL INC. ("IOU" or "the Company") (TSXV: IOU) recorded financial revenues of
$4,047,105 and $937,530, during both fiscal years ended December 31,
2013 and 2012 respectively. The Company closed fiscal 2013 with a net
loss attributable to common shareholders of $1,444,702, or $0.03 per
share, compared with a net loss of $1,797,456 or $0.06 per share in
At December 31, 2013, total assets stood at $15,921,263 compared with
$8,653,374 on December 31, 2012, and consisted mainly of cash on hand
and commercial loans receivable. Total liabilities at December 31, 2013
amounted to $8,688,312 compared with $3,405,259 at December 31, 2012,
and consisted mainly of funds owed on the Company's credit facility.
Total shareholders' equity amounted to $7,232,951 at December 31, 2013,
compared with $5,248,115 at December 31, 2012.
IOU Financial's financial statements and management discussion &
analysis for the year ended December 31, 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
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 TSX-V has not reviewed and does not accept responsibility for the
adequacy or accuracy of this release.
SOURCE IOU FINANCIAL INC.