SAINT PAUL, Minn., Aug. 16, 2012 /PRNewswire/ -- General
Finance and Development, Inc. (OTC: GFDV) announced today
2nd quarter results for 2012.
The highlights are summarized below. However, we urge investors
to read our Quarterly Report for Period Ending June 30, 2012. The report is posted at
www.genfd.com and www.otcmarkets.com. 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 2011.
- The company showed a 42% increase in sales orders as of
mid-year compared to the same period in 2011. The majority of the
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 liabilities at the end of the 2nd quarter 2012.
- Current assets exceeded current liabilities by a multiple of
2.25 to 1 at the end of the 2nd quarter.
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.
CAF management believes when managed properly, art provides an
intrinsic return on investment evidenced by improved employee
retention and productivity, customer and public awareness and
patient outcomes for healthcare organizations. With the new program
organizations may also select artwork that will potentially
increase in value over time.
Since inception in September 2009,
CAF has framed and distributed over 16,000 pieces of artwork for
more than 150 clients to locations in 40 states.
Corporate Art Force is unique in
that there is not an extensive inventory or single gallery that
artwork is sold from. The motto "The World Is Our Gallery"
explains the CAF philosophy of working directly with artists who
meet the criteria established by the company's proprietary art
selection committee. The company has over 2,000 artists who provide
artwork for CAF and clients.
CAF management believes the market for the services they provide
is estimated to be over $1 billion
and there currently is no single provider who has as much as 10
percent of the market. The industry is considered to be fragmented
and non-standardized and CAF believes there is an opportunity to
capture a significant share of the market within the next several
years by recruiting and training art consultants who will become
certified as part of the company's proprietary Art Consultant
Certification Program.
General Finance and Development, Inc. provides capital and
business development services to small and medium size companies.
Capital is provided to qualified companies by equity and/or
strategic loan agreements. Business development services include
business planning, organization and management development. GFD
also pursues merger/acquisitions and joint venture projects.
The foregoing material may contain forward-looking statements.
We caution that such statements may be subject to uncertainties and
that actual results could differ materially from the fore-going
statements. Readers accordingly should not place undue reliance on
these forward-looking statements which do not reflect anticipated
or unanticipated events or circumstances occurring after the date
of these forward-looking statements. More information regarding
General Finance and Development including financial statements and
reports is available at the company's website
www.genfd.com and www.otcmarkets.com.
Contact:
General Finance and Development, Inc.
763567-2208
SOURCE General Finance and Development, Inc.
