SOURCE: Team Nation Holdings Corp.

Team Nation Holdings Corp.

April 19, 2011 09:00 ET

TEAM Nation Announces 2010 Results; Overall Improvement of $4,175,603 From 2009

NEWPORT BEACH, CA--(Marketwire - Apr 19, 2011) - TEAM Nation Holdings Corporation ("TEAM") (OTCBB: TEMN) (PINKSHEETS: TEMN) is pleased to report the results of its 2010 audited financials, which were filed after extension on April 11, 2010. The financial statements reflect a year over year improvement in three critical categories: net income, operating losses and total liabilities. Net income in 2010 was $553,157 vs. 2009 losses of $3,622,446, an improvement of $4,175,603 from 2009. Losses from operations were reduced to $382,972 in 2010 from $1,322,934 in 2009. The operations improvement of $939,962 in 2010 largely resulted from management's review of its title production and administration services and its modification of its key vendor contracts. The improvement offsets increased expenses associated with the establishment and licensing of Team Title, Inc. in 2010. The Company also reduced its liabilities by $1,218,000 in 2010 and expects to continue reducing liabilities in 2011 chiefly by removing derivatives associated with terminated convertible note financing.

Dennis R. Duffy, Cofounder and Board member of TEAM stated, "Our 2010 financial statements show a marked improvement over 2009 in areas that are critical to our growth. Our key goals in 2011 and 2012 remain unchanged and our focus on license expansion and the driving of direct revenue into our national agency will propel us to greater profitability in 2011 and beyond."

About TEAM Nation Holdings Corporation
TEAM Nation Holdings Corporation, a Nevada corporation ("TEAM"), is a management and services company specializing in title insurance and escrow services through our affiliate title agency(ies). TEAM Nation Holdings Corporation also services the provision of management, production services, HR administration, IT support, and accounting administration for title insurance companies and related real estate ventures. For more information please visit: http://www.teamnationholdings.com/

Team Nation Holdings, a Nevada Corporation ("TEAM"), is also a holding Corporation for Team Settlement Solutions, (fka Team Nation Holding Corporation, a California corporation) ("TSS") along with TSS Escrow, Inc., a California Corporation. TEAM Nation Holdings Corp. also includes Mortgage Nation, Inc., a California Corporation, and TEAM Title, Inc., a national settlement services agency as part of their company.

This news release contains forward-looking statements. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks described in the company's filings with the SEC.

Contact Information

  • For more information contact:
    Violet Shockley
    713-444-0924