EquiFin, Inc. has reported revenues for the first quarter ended March 31, 2004 increased by 57.6% to US$643,000, compared to US$408,000 for the same period a year ago.
For the quarter ended March 31, 2004, the company had a net loss from its continuing operations of US$378,000, compared to a loss of US$396,000 for the same quarter in 2003.
"It will be incumbent on us in the coming months to aggressively pursue ways to grow our portfolio of loans from small businesses," said Mr. Craig, EquiFin's president and chief executive officer. "We continue to pursue innovative financing options and ways to grow through acquisition. At the same time, we will examine ways to reduce costs until such time as we attain the critical mass necessary in our loan portfolio.
