SOURCE: Time Lending California, Inc.

January 24, 2006 09:56 ET

Time Lending California, Inc. Announces 72% Revenue Growth in First Quarter Sales

ORANGE, CA -- (MARKET WIRE) -- January 24, 2006 -- Time Lending California, Inc. (OTC BB: TIML).

Time Lending announced in its recently filed quarterly report (10QSB) that first quarter sales increased to $1,491,592 for the first quarter ended September 30, 2005 up $626,677 representing a 72.5% growth from $864,915 for the first quarter ended September 30, 2004.

Marketing Segment. The marketing segment is the preparation and mailing of direct mail advertising for the mortgage industry, mostly small to medium size mortgage companies. Income for the marketing segment increased $667,677 or 81.4% to $1,487,913 for the quarter ended September 30, 2005 from $820,303 for the quarter ended September 30, 2004. The reason for the revenue increase was increased mailing from existing clients caused by their marketing growth in the low interest rate market. This segment should show increased growth as the Company's marketing efforts continue to increase.

The Company's cash increased $88,441 to $994,969 for the quarter ended September 30, 2005.

To hear more about TIML from CEO Michael Pope Sr. go to: http://www.publiccoreport.net/featured/TIML/company.asp

Company Overview

Time is engaged in the business of direct mail marketing under the dba. Signature Marketing. Signature's mailing pieces generate mortgage leads for mortgage broker and lender clients across the country. Over the past eight years, Time Lending's marketing division has helped many mortgage companies grow through its marketing effort. Time Lending is also engaged in business as a mortgage broker to originate first and second loans secured by real estate through deeds of trust and mortgages.

The Company's business strategy is to provide a public umbrella for mortgage companies that desire to grow rapidly through participation with their own marketing company. Time will acquire mortgage companies and grow them though expanded direct mail marketing. The Company is also looking to acquire real estate related companies such as real estate brokerages, escrow and a property management company. In addition, Michael Pope, CEO and Philip La Puma, CFO, have 15 years of franchising experience and the Company will seek companies that desire to franchise their operations.

The first of these proposed mortgage company acquisitions was announced on July 5, 2005 with the signing of a letter of intent to acquire 51% of the shares of Nationwide Security Mortgage, Orange, California. See 8K filed July 20, 2005. The Company is awaiting the completion of its due diligence and the latest audit for Nationwide Security Mortgage. Time's management continues to search for mortgage companies that will make good growth candidates for acquisition in other areas of the country.

Michael F. Pope, President, said, "We built over one hundred branches in our previous mortgage company and intend to repeat that success. The difference now for Time is that we are a very experienced and successful marketing company that knows how to grow the mortgage business for each affiliate or branch. The combination of our marketing company and the acquisition of mortgage companies that want to grow will drive our growth and will benefit our public shareholders. Security National Mortgage is an outstanding company and is poised for substantial growth."

For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section "Risk Factors" included in the Company's Form 10KSB and 10-QSB filings with the Securities and Exchange Commission.

This news release may include comments that do not refer strictly to historical results or actions and may be deemed to be forward looking within the meaning of the safe harbor provisions of the U.S. federal securities laws. These include, among others things, statements about expectations of future revenues, cash flows and capital requirements. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to further develop its business, the company's ability to develop appropriate strategic alliances and successful development and implementation of technology, acceptance of the company's products and services, competitive factors, new products and technological changes, and other such risks as the company may identify and discuss from time to time, including those risks disclosed in the company's amended registration statement on Form SB-2 filed with the Securities and Exchange Commission. Accordingly, there is no certainty that the company's plans will be achieved.

Contact Information

  • Contacts:
    Phil La Puma
    CFO
    714-288-5909