IEGH Increases Transparency with New Website and Filingsadmin
IEG Holdings Corp. (OTC Pink: IEGH) has made a lot of progress over the past few weeks increasing transparency for both investors and customers. On October 31st, management launched InvestmentEvolution.com to showcase its services, while also updating its financial disclosures on OTC Markets to remove the stop sign designation. In this article, we’ll take a closer look at these developments and the company’s direction moving forward.
New Website Provides Transparency
IEG Holdings launched InvestmentEvolution.com on October 31st to provide investors and customers with management biographies, subsidiary details, and access to the latest news and developments affecting investors. The latest quarterly and annual reports are also automatically posted on the website, along with stock quotes, charts, historical prices, investor presentations and other materials to assist with the investor decision-making process.
“A major goal for the new website is to maximize IEG Holdings’ level of corporate transparency for the benefit of its customers and investors, and we are confident that the new website succeeds in furthering this transparency,” said IEG Holdings CEO Paul Mathieson in a press release announcing its launch. “The website allows us to archive an extensive range of corporate materials and information that can be easily accessed by any user at any time.”
OTC Markets Disclosures Build Trust
IEG Holdings has made great strides in improving its transparency on a financial level over the past few weeks, too. On October 29, 2013, the company filed its 2011 and 2012 audited annual report and its quarterly reported for the period ended June 30, 2013. OTC Markets responded by removing the “No Information” stop sign and replacing it with a “Limited Information” yield sign until management finishes making its final submissions later this month.
Management plans to file its final quarterly report for the period ended September 30, 2013 in the near future in order to bring the company to “Current Information” and remove the “Limited Information”yield sign. The team has also made progress in updating its market capitalization, list of service providers, and other information available on the exchange’s website. As a result, investors now have greater access and insights into its financial condition.
Finally, investors may also appreciate the Level II quotes that are available on OTC Markets, providing insights into the bid/ask spread and order books across multiple market makers.
Unique Business Model with Catalysts
IEG Holding operates two subsidiaries that operate under the brand names Mr. Amazing Loans USA and Mr. Amazing Loans Australia. The company’s leading alternative financial services online loan company provides unsecured personal loans of between $2,000 and $10,000, which differs from payday lenders with its higher amounts and lower rates. These personal loans are provided on MrAmazingLoans.com and MrAmazingLoans.com.au.
Management plans to grow revenues significantly higher in FY 2014 by obtaining additional lending licenses and operating online in New Jersey, New York, Texas and California. Currently, the firm is a licensed lender in the states of Nevada, Arizona, Illinois and Florida, while providing personal loans to citizens and residents of Australia.
In a recent interview with Opportunist Magazine, CEO Paul Mathieson provided some details regarding the company’s five-year plan to expand its operations and build a $1 billion-plus global loan book that provides a great product for customers and fantastic returns for investors. For customers, Mr. Mathieson wants to continually lower rates as its cost of funding decreases to eventually become “the McDonalds of small loans across the world.”
Potential Investment Opportunity
IEG Holdings represents an attractive investment opportunity given its renewed commitment to transparency and significant growth potential ahead. By building a high-quality loan portfolio and helping their clients achieve higher credit scores, the company is able to generate sustainable revenues with its 19.9% to 29.97% APRs over time, instead of relying on a portfolio of 450%+ APRs and high default rates, regulatory scrutiny, and uncertainty.
According to CEO Paul Mathieson, “Mr. Amazing Loans entered the USA market with its policy from day one being to comply with no only all of the required government laws but also within the spirit of what the regulators intended from the laws. The aim of this policy is to enable a win-win scenario between Mr. Amazing Loans and its customers and to ensure the long-term sustainability of its successful business model.”
These attributes differentiate IEGH from payday lenders, like Cash America International Inc. (NYSE: CSH) and DFC Global Corp. (NASDAQ: DLLR), and create an opportunity to generate long-term value for its shareholders.
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Except for the historical information presented herein, matters discussed in this release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Emerging Growth LLC is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. For full disclosure please visit: http://secfilings.com/Disclaimer.aspx
Posted: November 11th, 2013 under ACCESSWIRE.