SOURCE: Genesis Financial, Inc.

Genesis Financial, Inc.

September 13, 2010 12:04 ET

Genesis Financial, Inc. Brings SEC Filing Current

SPOKANE, WA--(Marketwire - September 13, 2010) -  Genesis Financial, Inc. (PINKSHEETS: GFNL) announced that it has brought its delinquent SEC periodic reports current. Recently, Genesis filed its Annual Report on Form 10-K for the year ending December 31, 2009 and Quarterly Reports on Form 10-Q for the quarters ending March 31, 2010 and June 30, 2010 are being completed and prepared for review. 

About Genesis Financial, Inc.

Genesis Financial, Inc. is in the business of buying and selling seller financed real estate contracts and originating commercial real estate hard money loans, primarily for bridge financial. Because the real estate market has deteriorated over the past several years the company has been forced to foreclose on many of the loans and the assets of Genesis have become ill-liquid.

The Company has made provision for anticipated losses on the contracts and real estate owned. It is not known when these assets will be liquidated as the entire national real estate market is basically not liquid.

Genesis is in the process of seeking an acquisition candidate and/or a recapitalization and in the interim will continue to liquidate assets to reduce the bank debt.

Genesis Financial, Inc. trades on the over-the-counter pink sheets and its common stock is DTC (Depository Trust Corporation) eligible.

Statements contained herein that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the Company's expectations about its future operating results, performance and opportunities that involve substantial risks and uncertainties. When used herein, the words "anticipate," "believe," "estimate," "upcoming," "plan," "intend" and "expect" and similar expressions, as they relate to Genesis Financial, Inc., or its management, are intended to identify such forward-looking statements. These forward-looking statements are based on information currently available to the Company and are subject to a number of risks, uncertainties, and other factors that could cause the Company's actual results, performance, prospects, and opportunities to differ materially from those expressed in, or implied by, these forward-looking statements.

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