“]Consulting Services, Inc. (PINKSHEETS: TITL)
Title Consulting Services, Inc. operates as a title insurance agency primarily in the United States. The company provides title insurance and real estate closing services.
It also operates as an independent agent for various title insurance companies, which issues title insurance policies serving real estate industry. The company was founded in 2001 and is headquartered in St Petersburg, Florida.
It is currently trading at $0.01 with the increase of $0.0044 (55.00%) from its previous close. The trading volume of TITL is 5.0K. Recently, Title Consulting Services, Inc. (PINKSHEETS: TITL) has entered into discussions with a Florida based business broker to assist in the search for an existing Property and Casualty Insurance Agency.
This insurance agency would be based in Florida and would have an existing client base with recurring revenues as well as access to insurance carriers. Dustin Secor, CEO, stated, “The addition of a full service P&C insurance agency will enable us to continue our growth through economies of scale as well as having the ability to present our title insurance clients with alternatives to their existing homeowners insurance.
As a title insurance agency, we come in contact with many homeowners who are in serious need of help in finding good coverage at a fair price and this represents an instant market for us for additional revenue on a per file basis.” Secor commented, “We hope to find a well qualified agency in a short period of time which will add to shareholder value and increase cash flow. Any acquisition would be subject to appropriate due diligence and funding.”
As per the latest reports, Title Consulting Services, Inc is preparing the necessary paperwork to rescind or reverse the resolution taken on July 29, 2010 whereby it raised the outstanding common shares by 400,000,000.
This rescission or reversal will result in the outstanding common share count to revert to the previously reported amount of 115,802,300 common shares issued and outstanding. The float has not been affected by these transactions and remains at 28,415,000.
Moreover, TITL has filed its year end financial statements for Financial Year ending July 31, 2010. The financial year end shows top line growth of 17%, with a 34% increase in gross profit and a 13% reduction in expenses. Dustin Secor, CEO, stated, “The real story is when you look at the progression of our quarterly results and further look at the year end over year end results, excluding depreciation and after accountant adjustments.
It also announced that it has authorized a reduction of the authorized common shares from 20,000,000,000 to 1,000,000,000 and the appropriate filings will be made with the Secretary of State.
So keep yourself updated by keeping an eye on every movement of TITL.
