During the corresponding time, Genesis Financial Inc recorded a revenue increase by 627.32 % year on year, sequentially revenue grew by 7273100 %. While revenue at the Genesis Financial Inc's corporate clients
Genesis Financial Inc's Comment on Sales, Marketing and Customers
The hard money market was quite strong in 2004, at the time of the Company’s
increased focus in making these loans, and continued that way throughout 2006.
Frequent foreclosure litigation and collateral repossessions are an expected part
of the hard money industry, in contrast to the conventional markets. With the
exception of those few transactions with unusual circumstances affecting the outcome,
most problem loans were eventually worked out, and paid off, or the repossession
and resale resulted in a profit, broke even, or at worse, the Company experienced
a small loss. The losses were at an acceptable level, but the Company established
a fair value reserve account, and started setting aside funds to cover those small
losses in 2005, and continued that practice throughout 2006.
Genesis Financial Inc’s Comment on Sales, Marketing and Customers
The hard money market was quite strong in 2004, at the time of the Company’s
increased focus in making these loans, and continued that way throughout 2006.
Frequent foreclosure litigation and collateral repossessions are an expected part
of the hard money industry, in contrast to the conventional markets. With the
exception of those few transactions with unusual circumstances affecting the outcome,
most problem loans were eventually worked out, and paid off, or the repossession
and resale resulted in a profit, broke even, or at worse, the Company experienced
a small loss. The losses were at an acceptable level, but the Company established
a fair value reserve account, and started setting aside funds to cover those small
losses in 2005, and continued that practice throughout 2006.
Sources:
Genesis Financial Inc’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: Genesis Financial Inc’s corporate clients.
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