PSM Holdings, Inc. (fka PSMH)

[Royal]

PSMH We recorded a net loss of $3,059,459 for the nine months ended March 31, 2012 as compared to a net loss of $854,564 for the comparable prior period. The increase in loss was primarily attributable due to increase in payroll expenses due to increase in headcount as a result of acquisition of four entities, increase in brokerage commissions, increase in website and information technology maintenance expense, and increase in advertising and investor relations expenses when compared to the prior year comparable period.