LAS VEGAS, July 27, 2011 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (Pink Sheets:IFSL), a fully reporting company listed on the OTCQB and a creator of various financial products and services for businesses and individuals, today announced that its Board of Directors has approved a corporate share repurchase plan, effective immediately.
The plan authorizes Ideal Financial to purchase shares of Ideal's common stock in the open market or in block trades over the next 90 days, subject to SEC Rule 10b-18. The number of shares to be repurchased and the timing of purchases will be at the discretion of the company's management, and will be subject to restrictions related to volume, price and timing. Ideal Financial intends to fund the share repurchase program with its available cash and cash generated from operations.
"Current market conditions and our improved financial position make this repurchase program an attractive use of available funds at this time," stated Ideal Financial CEO Steve Sunyich. "We plan on making incremental purchases on a regular basis as profits continue, but cannot state beforehand the size of our repurchase. We will report our purchases in accordance with SEC Rule Item 703 of Regulation S-K."
"We are also pleased to announce that we expect our operating results for Q2 to show a marginal increase in revenue in the second quarter versus revenue earned in the first quarter of 2011 and that definitive results will be available in our SEC Form 10-Q in early August," added Ben Larsen, Chief Financial Officer.
About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (http://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 financial services, Ideal uses its automated CashFlow Management(C) tools and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. Select the following links to view more information on Ideal's brands such as Ideal Financial HR, Ideal Cash Secrets and iLenderAssistance.com. Please connect with us on Linkedin or Twitter. For investors who would like to receive Ideal's newsletter, please send your email address to: support@idealfsi.com
For the latest news and press, please visit http://www.idealfsi.com.
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 grow as projected; that increases in marketing or other expenses may increase more rapidly than revenues; that any recent positive trends in the company's financial position may be reversed because of declines in revenues, increases in costs and/or unexpected liability event. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein.