Ideal Financial Solutions Reports Progress on OTCBB Uplisting
LAS VEGAS, May 18, 2010 (GlobeNewswire via COMTEX) -- Ideal Financial Solutions (Pink Sheets:IFSL), a financial services company that helps consumers decrease debt and build wealth, is pleased to announce that the process for registering with the Securities and Exchange Commission (SEC) has passed a major milestone. The SEC has responded to our Form 10 submission with a comment letter in order to clarify or improve the disclosure requirements. The comments were not extensive and will be addressed in a response letter and amendment as soon as our quarterly financial statements are ready for inclusion in such amendment.
"We expect to be able to incorporate the requested changes and clarifications into our Form 10 registration statement quickly and finalize the uplisting process," said Ben Larsen, Chief Financial Officer of Ideal Financial Solutions, Inc. "It is exciting to take these last steps toward being a fully-reporting company listed on an OTC stock exchange. We have put a lot of effort into improving the accounting, reporting and internal controls at Ideal and are excited to be able to provide timely, accurate financial information to shareholders and prospective investors."
"The process of moving from the Pink Sheets and into full SEC compliance has been costly and time consuming but was in our opinion one of the best things we could do for our company and its shareholders," said Steve Sunyich, Chief Executive Officer of Ideal Financial Solutions, Inc. "I believe this considerable effort will better position the company for the future and open IFSL to a new community of prospective shareholders who would not have considered us on the lower exchange."
For more information, please join us on our daily Conference Call:
Time: 10:00 AM Pacific Time, Monday - Friday Conference Number: (712) 432-6148 Access Code: 100033
