PSM Holdings, Inc. (fka PSMH)

[Royal]

PSMH additional increase in payroll expense due to investment in recruiting experienced mortgage executives, b) increase in advertising and investor relations expense of $363,054 and $327,857 , c) an increase in rent expense of $223,709 and $448,870 due to additional entities acquired, d) increase in website and information technology maintenance expense $46,325 and $36,092 , e) other administrative overhead incurred due to the acquisition of five entities.