General Finance & Development, Inc.
Has been posted at PR Newswire
Title: General Finance and Development, Inc. Announces 2012 2nd Quarter Results
The Highlights Include a 179% Increase in Net Income for the Period
The highlights are summarized below. However, we urge investors to read our Disclosures and Shareholders Reports posted at genfd.com and OTC Markets. The limited information that follows in this press release is not adequate for making an informed investment judgment.
The highlights include realized net income of $50,568 for the 2nd quarter compared to net income of $18,119 for the 2nd quarter of 2012.
The Company showed a 42% increase in sales orders as of mid-year compared to the same period in 2011. The majority of sales orders are projected to convert into revenue during the 3rd quarter of 2012. The company is ahead of sales projections for the year.
Total assets for the Company were $1,150,029 at the end of the 2nd quarter 2012 compared to $904,415 at 2011 year-end.
The Company showed $6,921 in long-term liabilites at the end of the quarter.
Current assets exceeded current liabilities by a multiple of 2.25 to 1.
During the 2nd quarter the development efforts were focused on GFD’s main operating subsidiary Corporate Art Force (CAF). CAF has been piloting a comprehensive asset management program for artwork being marketed as the SmartArt Program™.
During the quarter a SmartArt Finance Program was introduced that allows for organizations to implement a rotating art program for as little as $125 per month with a purchase option at the end of the agreement. Three distinct benefits include cash preservation, a return-on-investment philosophy and the flexibility of the program. Management of CAF believes that the SmartArt Finance Program will allow for a larger segment of the market to utilize the company’s services. CAF has posted new job openings for business development and marketing staff to specialize in the rollout and ongoing sales distribution.
The sales and marketing initiatives will include an inbound and outbound call center integrated with digital and email marketing. The website www.smartartprogram.com is also being developed that will include video presentations, artwork images and project rooms. The artwork categories will include traditional art and art created by emerging artists that will have asset appreciation potential.
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