Company Press Release
SOURCE: Lenders Interactive Online Network
LION Inc./Lioninc.com Announces Record Revenues for Third Quarter
SEATTLE, Oct. 18 /PRNewswire/ -- Lenders Interactive Online Network (Lioninc.com), a wholly owned subsidiary of LION Inc. (OTC Bulletin Board: LINC - news), formerly Plenum Communications, Inc., announced today that revenue for the third quarter ended September 30,1999 increased 127% to a record $1,174,000. This compares to revenue of $517,000 for the third quarter ended September 30,1998
LION is a leading developer of Internet products and services for the mortgage industry. For the nine months ended September 30, 1999, revenue increased 123% to $2,838,000. This compares to revenue of $1,271,000 for the nine months ended September 30,1998.
Sam Ringer, President/CEO of Lioninc.com stated, ''I am very pleased with our third quarter results. We set several new monthly records this quarter. In September for the first time we signed up over 600 mortgage brokers to our subscription based Lion-Pro service. We also saw over 600,000 unique visitors come through our Lion-Choice services, which helps the mortgage broker capture business from the Internet. Over 1100 consumer loan applications were completed on our broker customer sites.''
This press release includes statements that may constitute ''forward-looking'' statements. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products in the marketplace, competitive factors, and other risks. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release. More information about the potential factors that could affect the company's business and financial results is included in the Company's Annual Report on Form 10-KSB for the year ended December 31, 1998 and the Quarterly Reports on Form 10-QSB for the quarters ended March 31, 1999 and June 30, 1999, which are on file with the Securities and Exchange Commission.
|
