Life-Exchange, Inc., (OTCBB:LFXG), the nation’s
leading business-to-business online exchange for the life settlement
industry, announced today its financial results for the nine months
ended March 31, 2008 with revenue of $1,004,984 for the period, as well
as net income of $332,128 for the same nine month period.
“Reaching revenues of over $1 million marks a
very important milestone for Life-Exchange and we are extremely pleased
that we can show our investors positive operating results,”
commented David C. Dorr, Life-Exchange’s Chief
Executive Officer and President. “The last
nine months have been extremely productive for Life-Exchange and we will
continue to aggressively execute on our business plan in order to
realize the significant opportunities that the life settlement industry
has to offer.”
The Company’s primary financial information is
shown below, comparing the nine months ending March 31, 2008 with the
nine months ending March 31, 2007. The discussion of the Company’s
financial results should be read in conjunction with the Company's
consolidated financial statements and the notes thereto and the other
financial information appearing in the Company’s
Form 10-Q filing with the Securities and Exchange Commission.
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Revenues increased $891,027 (598%) to $1,004,984 (QTD 2008) from
$143,957 (QTD 2007).
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Costs of Revenue decreased $15,188 (37%) to $26,180 (QTD 2008) from
$41,369 (QTD 2007).
-
Sales and Marketing Costs increased $115,985 (305%) to $154,057 (QTD
2008) from $38,072 (QTD 2007).
-
Administration Costs increased $38,593 (9%) to $467,041 (QTD 2008)
from $428,448 (QTD 2007).
-
Other Income (Expense) reported an increased expense of $25,454
(20527%) to $25,578 expense (QTD 2008) from $124 expense (QTD 2007).
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Net Income (Loss) increased $696,183 (191%) to $332,128 net income
(QTD 2008) from $364,055 net loss (QTD 2007).
Please reference the Company's Form 10-Q to access the notes which are
an integral part of the consolidated financial statement. The company’s
most recent 10QSB can be downloaded at EDGAR's Online.
About Life-Exchange
Life-Exchange, Inc. is the largest and only independent, electronic
trading platform for the life settlement industry.
