SOURCE: Ideal Financial Solutions, Inc.

March 16, 2010 09:30 ET

Ideal Financial Solutions Releases Audited Financials, 2009 Revenue Exceeds $7 Million

LAS VEGAS, NV--(Marketwire - March 16, 2010) -   Ideal Financial Solutions, Inc. (PINKSHEETS: IFSL) today announced audited financial results for the years ended December 31, 2008 and 2009. Revenue for the year ended December 31, 2009 of $7.3 million, was a 690% increase over $924,000, the revenue for the prior year. Net income for 2009 year was $883,500, which represents an increase of 375% compared to the net loss ($323,000) in the prior year. In addition, cash flows from operations were $736,000, which was an increase of over 900% compared to the prior year of 72,000.

These financial statements include an increase in total assets of nearly 300% from $179,000 to $752,000, which mainly consists of cash and merchant cash reserves. Total liabilities resulted in a decrease of 25%, which consists of a 190% increase in accounts payable due to increased operations, and decreases in both accrued wages and notes payable of a combined $627,000 or 41% less than the previous year.

"We are extremely pleased with all of the effort that has gone into the completion of our audited financial statement and the final 2009 numbers," said Steve Sunyich, CEO at Ideal. "We will continue our efforts to provide transparency and shareholder value." 

"Strong reception of our online services has resulted in exponential top-line growth," said Ben Larsen, Chief Financial Officer at Ideal. "We are improving our accounting and reporting abilities daily which will help operations of the company as well as provide our investors the data needed to make informed decisions. We have begun drafting a Form 10 and intend to file it with the SEC in the coming weeks."

"2009 has been an eventful and exciting year," added Kent Brown, Chief Operating Officer. "We are navigating a complex online marketplace during a tumultuous economic period and we believe we have in place the personnel, the marketing and the strategic partners to continue our success into 2010 and beyond."

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About Ideal Financial Solutions
Based in Las Vegas, Nevada, Ideal Financial Solutions (www.idealfsi.com) provides the education, support and automated tools to create additional cash resources, rapidly eliminate all non-asset-building debt and build financial independence. As a leader in personal cash flow management systems, Ideal uses its automated CashFlow Management© tools (www.myifs.com) and its Credit to Wealth Systems to assist individuals, families and small businesses in building financial independence. To view more information on Ideal's new humanitarian program soon to be launched please visit www.idealgoodness.com. To view a short video demo of our services go to www.ibuildwealthclub.net.

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For the latest news and press, please visit www.idealfsi.com.

Forward-Looking Statements. This release may contain forward-looking statements as well as historical information. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, may involve risks, uncertainties and other factors that may cause the company's actual results and performance in future periods to be materially different from any future results or performance suggested by the forward-looking statements in this release. These risks include, without limitation, the risk that the company's revenues will not continue to grow and that they may not meet projections because of a down turn in its new marketing efforts and that the company will not become, or will be significantly delayed in becoming, a fully reporting company for one or more reasons, including a decision by the company not to pursue fully reporting status, absence of capital or other resources to satisfy compliance status, an adverse action or decision by a regulatory agency or other event. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein.

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