LAS VEGAS, May 16, 2012 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (OTCBB:IFSLE), the creator and provider of various financial products and services for businesses and individuals, has addressed the pending delisting of its shares from the Over-The-Counter-Bulletin-Board (OTCBB) and detailed the anticipated course of events to follow for the education of its shareholders and other interested parties.
As previously published, Ideal Financial Solutions, Inc.'s common stock will no longer be quoted on the OTC Bulletin Board effective at close of business May 18, 2012. This delisting is solely due to the company's failure to file Forms 10-K and 10-Q within the legally mandated time period. As previously announced, Ideal Financial Solutions changed its independent auditors and the combination of the new auditor's late start and the need for them to familiarize themselves with Ideal's business model has necessitated this delay. The company's stock will continue to be quoted and traded on the Pink Sheets without interruption.
Although FINRA has an appeals process that would have allowed Ideal Financial Solutions to temporarily delay the delisting, the company has decided that it is more prudent to spend the time and resources an appeal would have required on expanding its business. Moreover, this decision to forego an appeal was made with consideration to the fact the company anticipates that the delisting will be for a short period of time, and that a return to the OTCBB should be expeditious upon submission of the company's filing of Form 10-K for year ending 12/31/2011 and Form 10-Q for the first quarter ending 3/31/2012. At that point, the company anticipates being summarily relisted on the OTCBB.
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© 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
An Ideal Financial Solutions Investor Presentation is available online at http://www.idealfsi.com/uploads/InvestorPacket.pptx
For the latest news and press, please visit http://www.idealfsi.com.
IFSL's new XBRL/SEC portal provides access to filings and more at http://www.idealfsi.com/investors/ifsl-investor-relations/financial-reporting
A copy of the investor presentation also is attached hereto. The information contained in this press release, shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities under Section 18.
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.