Jeffrey Schultz, RedFin Network, Inc.’s (otcqb:RFNN) ( http://www.RedFinnet.com ) President and CEO, today announced a preview of the Company’s second quarter sales results.
"I am very happy to announce that our second quarter sales revenue grew to over $950,000, a 260% increase over the same period in 2010 and a 50% increase over the first quarter of 2011. The Company continues to reduce debt as well as operating losses and expects to reach a cash flow positive position in the third quarter of this year. We expect continued sales growth quarter over quarter through the end of 2011 as the company moves towards profitability. Our robust sales trend is due in large part to the acceptance of RedFin’s wide spectrum of mobile payment solutions and point-of-sale solutions that exclusively integrate with the RedFin Payment Gateway," Schultz stated. More detailed information will be provided in the Company’s upcoming second quarter 10-Q filing.
About RedFin Network
RedFin Network is a payment solutions provider, operating a powerful Payment Gateway used to perform Secure Electronic Payment Processing. RedFin Network specializes in providing reliable and robust solutions to eCommerce, Mobile Commerce and Point-Of-Sale merchants, offering a comprehensive yet simple suite of Products and Services. The RedFin Network Payment Gateway is CISP (Cardholder Information Security Program) and PCI (Processor Card Industry) compliant.