Business and Real Estate Lender Posts Profitable Mid-Year Results on Increased Income and Asset Growth
ORLANDO, Fla., Sept. 13, 2023 (GLOBE NEWSWIRE) -- Legion Capital Corporation (OTC: LGCP), is a business lender providing growth capital to small and medium sized companies and real estate developers. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of small business lending that is under-served by banks and institutions, announced its financial results for the six-month period ended June 30, 2023. The Company posted a net operating profit (before Preferred Stock dividends) of $684,519 for the six-month period, compared to an operating loss of $244,497 for the same period a year ago. Revenue rose 83% to approximately $3.88 million compared to $2.37 million for the same period prior year. It is important to note that mid-year results are not audited or reviewed by the Company’s independent auditor.
“We are very pleased with our six month operating results for this year and the growth of our specialized lending business,” stated Legion Capital President and CEO Paul Carrazzone. “We are focused on our clients and meeting their business and capital needs. When know when we help our clients, we succeed with them. We continue to see strong demand for our services and are experiencing a larger pipeline of potential client deals than we have historically.”
"It is a good time to be a non-bank specialty lender,” added Jason Plucinak, Legion’s Vice President of Corporate Finance. “Bank financing has continued to dry up creating a meaningful opportunity for private credit and specialty lenders. The continued support of our broker dealer and registered investment adviser community has been integral to capitalizing on our business model and scalable infrastructure.”
Legion Capital periodically provides information for investors on its corporate website www.LegionCapital.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual shareholder meeting.
About Legion Capital
Legion Capital (OTC: LGCP) is a business lender providing growth capital to small and medium sized companies and real estate developers. Legion provides bridge funding, acquisition finance, development, and growth capital in a highly customized and expeditious manner, addressing a large and growing segment of small business lending that is under-served by banks and institutions.
Legion Capital serves our Investors and Broker Dealer community through a suite of diversified equity and debt investment products, many of which offer attractive yields, non-correlation to traditional financial markets, and defined liquidity dates. For more information, please visit www.LegionCapital.com.
Certain statements that we make in this information piece may constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions. In addition, words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,” “projects,” “forecasts,” and future or conditional verbs such as “will” “may,” “could,” “should,” and “would,” as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties and assumptions. Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements. We caution investors not to rely unduly on any forward-looking statements and urge you to carefully consider the risks described in any Offering Documents associated with this information piece. We expressly disclaim any obligation to update any forward-looking statement in the event it later turns out to be inaccurate, whether the result of new information, future events or otherwise. Legion is a private lender, and not a member of FINRA or FDIC.
Investor Services Manager