To: changedmyname who wrote (12912 ) 6/29/1999 11:11:00 AM From: SgtPepper Respond to of 13776
VLDC news - looks ready for a major breakout? ____ V(COMTEX) B: Virtuallender.com, Inc. Completes Audit B: Virtuallender.com, Inc. Completes Audit SAN MATEO, Calif., Jun 29, 1999 (BUSINESS WIRE via COMTEX) -- Virtuallender.com, Inc. (OTC BB:VLDC), an on-line mortgage banker/direct lender, announced today that the company has completed the audit of its financial statements for the period ended May 31, 1999. Carol Pizzo, president and CEO of Virtuallender.com, Inc., stated, "The completion of our audit is the next step for becoming a fully-reporting company with the SEC and applying for a NASDAQ listing. In addition, it will also allow us to increase our warehouse lines of credit for our continued growth." Virtuallender.com, Inc. benefits consumers by providing a faster, flexible, more complete online mortgage solution, avoiding the frustration, delays and cost of the traditional mortgage process inherent with the traditional "bricks and mortar" mortgage business commonly used by consumers and Realtors. Among the company's current competitors are E-LOAN (Nasdaq:EELN), mortgage.com, Inc., Finet.com, Inc. (Nasdaq:FNCM), and Rock Financial (Nasdaq:RCCK). The company recently signed an advertising agreement with HomeSeekers.com, Inc. (OTC BB:HMSK) and FreeRealTime.com (OTC BB:FRTI), and will be a featured Northern California lender on theHomeseeker.com web site. Virtuallender.com, Inc. has established close ties with some of the nation's leading lenders such as Headlands (Nasdaq:HDLD), 1st Security Crosslands (Nasdaq:FFCO), World (NYSE:GDW), Dominion Resource/Saxon (NYSE:D), PCFS (NYSE:PFGI), and Downey Savings (NYSE:DSL). According to estimates by James Marks, Deutsche Bank Securities Analyst, the online mortgage industry is set for explosive growth, with projections topping $60 billion by the year 2000. For more information on Virtuallender.com, Inc. visitvirtuallender.com . NOTE: Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27 A of the Securities Act of 1933, Section 21 E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the company's future expectations, including future revenues and earnings, and allother forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. Copyright (C) 1999 Business Wire. All rights reserved. -0- CONTACT: Virtuallender.com, Inc. Carol Pizzo, 650/578-6380