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General Credit Corp., since the acquisition of New York Payroll Factors, Inc. on 5/2/97, has been engaged in providing check factoring services to its customers on a non-recourse basis. For the three months ended 3/98, revenues totalled $964 thousand vs. non prior. Net loss decreased 16% to $118 thousand. Revenues reflect the purchase of checks and credit card sales slips. Net loss reflects increased office overhead and payroll and related expenses. | ||||||||||||||
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