updated 11/18/2010 6:15:42 AM ET 2010-11-18T11:15:42

LAS VEGAS, Nov. 18, 2010 (GLOBE NEWSWIRE) -- Ideal Financial Solutions, Inc. (Pink Sheets:IFSL), a creator of various financial products and services for businesses and individuals, reports that senior members of the management team and other employees have opted to convert debt owed to them by the company into shares of common stock of the company.

With the authorization of the Board of Directors, Ideal Financial employees have agreed to convert wages accrued previously into shares of common stock of the company. A total of $501,000 in back-pay that is presently carried on the balance sheet as a current liability will thus be converted into a total of 125,500,000 shares of common stock at a price over current market of $0.004, which results in a gain of $313,125 from forgiveness of debt based on the current price.

"Quite some time ago, members of management accrued significant amounts of unpaid wages that they deferred to allow the company to capitalize what has proven to be a strong growth opportunity for Ideal," stated Steve Sunyich, CEO, Ideal Financial Solutions. "Now, as we prepared to begin paying the amounts due, our management unanimously suggested a desire to receive shares in lieu of monies owed and agreed to accept them at a premium to the current share price in hopes of an increased price per share in the future."

Sunyich added, "As we proceed with the process of seeking a broker to file a Form 211 with FINRA to commence trading on the Over-The-Counter Bulletin Board, we wanted to make our investors aware of these events. We would also like to explain our stock structure. We have eight billion shares of common stock authorized, of which 4.3 billion issued and outstanding. In addition, it is important to realize that we have 500 million shares reserved for a stock incentive plan, 2 billion reserved for issuance upon conversion of preferred stock and approximately 480 reserved for outstanding warrants. Therefore, the actual number of authorized, but un-issued, shares available is only 565,444,167, which we have no current plans to issue and do not expect to issue unless required or for a value-building event such as an acquisition."

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 debt relief services, 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: http://www.youtube.com/watch?v=GFTKoRkByu0

For investors who would like to receive Ideal's newsletter, please send your email address to: support@idealfsi.com

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 events. The company expressly disclaims any obligation to update or revise any forward-looking statements found herein.

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