(OTC: ITNS) First Acquisition Adds Bottom Line Growth
June 08 2011 - 1:30PM
Marketwired
Itonis, Inc. (PINKSHEETS: ITNS) announced on Friday their
acquisition of Performance Mortgage Group (PMG), a full service
consumer financial marketing network.
With the addition of PMG, and its 1900 affiliates, Itonis also
gets nearly $1 million dollars in accounts receivable. PMG is also
in the process of obtaining warehouse receipt lines of credit to
help facilitate funding loans in house, which would be a major
boost to revenue.
If PMG meets their expectation of $30,000,000 in loan fundings a
month, at a minimum origination fee of 1%, PMG could expect to see
over $300,000 a month in revenue on the books.
To view the entire press release, please visit
http://finance.yahoo.com/news/Itonis-Consumer-Financial-iw-398407527.html?x=0&.v=1
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