General Finance and Development, Inc. Announces 3rd Quarter Results

SAINT PAUL, Minn., Nov 15, 2011 /PRNewswire/ -- General Finance and Development, Inc. (OTC Markets: GFDV) announced today 3rd quarter results for 2011.

The highlights are summarized below. However, we urge investors to read our 2011 3rd Quarter Report posted at www.genfd.com and www.otcmarkets.com. The limited information that follows in this press release is not adequate for making an informed investment judgment.

The highlights for the quarter include a 63 percent increase in sales revenue over the same period in 2010 and net income of $12,955 compared to a net loss of $105,104 for the 3rd quarter of 2010.  The company has generated a net profit for the fourth consecutive quarter.

GFD realized a net income of $43,336 for the nine-month period ending September 30, 2011 compared to a net loss of $284,290 for the same period in 2010.

Total assets for GFD exceed total liabilities by a multiple of 5 to 1 compared to 3 to 1 at year- end 2010.

Financial results are being driven by GFD's main operating subsidiary Corporate Art Force (CAF). During the quarter the company continued efforts to develop the SmartArt Program that it has been piloting with a Fortune 500 company.  The SmartArt Program is a comprehensive art management process that includes an initial analysis and twelve other modules that are tailored to meet the unique needs of the client. To protect the intellectual property rights of the SmartArt Program, a provisional patent was filed on October 17, 2011 with the United States Patent and Trademark Office.

CAF management believes when managed properly, art provides an intrinsic return on investment evidenced by improved employee retention and productivity, customer and public awareness and patient outcomes for healthcare organizations.

The Minneapolis-based company is a model being developed for expansion into other cities with the SmartArt Program being a key to that expansion. "I believe that the SmartArt Program will give us a decided advantage over others who are pursuing the large corporate market," stated William Kieger, CEO. "The SmartArt Program has been created for clients to optimize their art assets by helping to plan, implement and continually evaluate the effectiveness of their art program," he went on to say.

Since inception in September 2009, CAF has framed and distributed over 12,500 pieces of artwork for more than 150 clients to locations in 40 states.

Corporate Art Force is unique in that there is not an extensive inventory or single gallery that artwork is sold from.  The motto "The World Is Our Gallery" explains the CAF philosophy of working directly with artists who meet the criteria established by the company's proprietary art selection committee. The company has over 2,000 artists who provide artwork for CAF and clients.  

CAF management believes the market for the services they provide is estimated to be over $1 billion and there currently is no single provider who has as much as 10 percent of the market. The industry is considered to be fragmented and non-standardized and CAF believes there is an opportunity to capture a significant share of the market within the next several years by recruiting and training art consultants who will become certified as part of the company's proprietary Art Consultant Certification Program.  

Corporate Art Force provides turnkey art procurement services to corporate clients nationwide. The company specializes in brand alignment, helping corporations large and small select wall decor and artwork that perfectly aligns with key messages to targeted audiences. CAF's art fulfillment capabilities provide the standardized logistical process needed to select, procure, frame, ship and install artwork worldwide. CAF uses its position as a national leader to deliver cost efficiencies on all of the above with the best pricing by leveraging their expertise of best practices, volume buying, and economies of scale in production.

General Finance and Development, Inc. provides capital and business development services to small and medium size companies. Capital is provided to qualified companies by equity and/or strategic loan agreements. Business development services include business planning, organization and management development. GFD also pursues merger/acquisitions and joint venture projects.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements. More information regarding General Finance and Development including financial statements and reports is available at the company's website www.genfd.com and www.otcmarkets.com.

Contact:
General Finance and Development, Inc.
[email protected]

SOURCE General Finance and Development, Inc.