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Quest Solution, Inc. (QUES: OTCQB) | Quest Solution Reports Third Quarter 2017 Results

Quest Solution Reports Third Quarter 2017 Results

Nov 17, 2017

OTC Disclosure News Service

– Quest Solution Reports Third Quarter 2017 Results

EUGENE, OR–(Marketwired – November 17, 2017) – Quest Solution, Inc. (OTCQB: QUES), a specialty systems integrator focused on field and supply chain mobility announced its financial results for the three and nine-month periods ended September 30, 2017.

Highlights

  • Revenues for Q3 2017 of $12.96 million declined slightly from $13.56 for Q3 2016
  • Improved gross margin of 21.8% for the quarter ended September 30, 2017, compared to 19.6% in Q3-2016
  • Salary and employee benefits Operating expenses includes $416,548 of non-cash stock based compensation
  • Total operating expenses decreased 8.6% to $9.1 million for the first nine months ended September 30, 2017 compared to $10 million in the prior year period
  • Substantial reduction of net loss from continuing operations to $0.9 million for the three months ended, an improvement of $1.6 million compared to the prior year period
  • $4.6 million reduction in current portion of notes payable
  • Management focuses on turnaround plan aiming to strengthen the financial structure and turn to profitability

Quest reported revenues of $12.96 million for the third quarter ended September 30, 2017 compared to $13.56 million in the comparable 2016 period. The slight decrease was mainly attributable to unavailability of inventory at the manufacturer which delayed shipments into Q4-2017. Gross margin improved to 21.8% in the third quarter of 2017 compared to 19.6% in the prior year period, primarily due to a 7.1% decrease in the cost of goods sold. During the quarter the Company expensed $416,548 in non-cash stock based compensation. The Company reported improved net loss from continuing operations of $902,882, or a net loss from continuing operations of $0.03 per share, as compared to net loss from continuing operations of $2,467,290, or a net loss from continuing operations of $0.07 per share in the same quarter last year. Adjusted EBITDA (Adjusted Earnings Before Interest, Taxes and Depreciation and Amortization) improved to $309,812, or 2.4% of sales, compared to $190,437 or 1.4% of sales in Q3-2016.

Shai Lustgarten, CEO, commented, “One of our primary goals entering the third quarter was to improve operational efficiency, and our results reflect just that. Not only did gross profit increase as a percentage of sales, we significantly reduced net loss from continuing operations. Moreover, while total operating expenses rose slightly during the quarter, this increase was largely related to $416,548 in non-cash, stock based compensation.”

For the nine months ended September 30, 2017, Quest reported revenues of $40.9 million, compared to $43.4 million in the comparable 2016 period. The decrease was primarily related to a temporary unavailability of inventory at the manufacturer, as described above. Gross margin improved to 21.1% in the first nine months of 2017 compared to 20.2% in the same period in 2016, primarily related to a 6.9% decrease in the cost of goods sold. During the period the Company expensed $565,593 in non-cash stock based compensation. Net loss from continuing operations improved significantly on a nine-month basis to $1.7 million, or a loss of $0.05 per share, compared to a net loss from continuing operations of $5.4 million, or a loss from continuing operations of $0.15 per share in the prior year period. Adjusted EBITDA for the nine month period improved to $1,405,202, or 3.4% of sales, compared to $503,338, or 1.16% of sales for the comparable period.

Mr. Lustgarten continued, “We are pleased with the initial progress we have made in several areas of our turnaround strategy. An initial priority has been to reduce costs in the business, and we have realized significant efficiencies thus far which should translate into over $1 million in savings in 2018. Second, the balance sheet saw marked improvement, with a $4.6 reduction in the current portion of our notes payable.”

Mr. Lustgarten concluded, “Quest has built a world class customer base of Fortune 100 companies who look to us to help solve their supply chain needs. This market is evolving quickly and Quest sits in a unique position to drive more profitable growth. To that end, a key focus of the new management team is to offer new and enhanced solutions, with a particular focus on software and services. This year Quest launched the Route Edge software product which has been well received. We saw an increase in our more profitable software and services sales during the quarter and our goal is to continue to grow this portion of our sales mix and better leverage our valuable sales channel.”

Please refer to the financial tables included below for a reconciliation of generally accepted accounting principles in the United States (“GAAP”) to non-GAAP financial results. Please refer to the financial tables included below for a reconciliation of GAAP to non-GAAP results.

About Quest Solution, Inc.
Quest Solution is a Specialty Systems Integrator focused on Field and Supply Chain Mobility. We are also a manufacturer and distributor of consumables (labels, tags, and ribbons), RFID solutions, and barcoding printers. Founded in 1994, Quest is headquartered in Eugene, Oregon, with offices in the United States.

Rated in the Top 1% of global solution providers, Quest specializes in the design, deployment and management of enterprise mobility solutions including Automatic Identification and Data Capture (AIDC), Mobile Cloud Analytics, RFID (Radio Frequency Identification), and proprietary Mobility software. Our mobility products and services offering is designed to identify, track, trace, share and connect data to enterprise systems such as CRM or ERP solutions. Our customers are leading Fortune 500 companies from several sectors including manufacturing, retail, distribution, food / beverage, transportation and logistics, health care and chemicals / gas / oil.

Information about Forward-Looking Statements
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995. Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. This release contains “forward-looking statements” that include information relating to future events and future financial and operating performance. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events, and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements. Important factors that could cause these differences include, but are not limited to: fluctuations in demand for Quest Solution, Inc.’s products, the introduction of new products, the Company’s ability to maintain customer and strategic business relationships, the impact of competitive products and pricing, growth in targeted markets, the adequacy of the Company’s liquidity and financial strength to support its growth, the Company’s ability to manage credit and debt structures from vendors, debt holders and secured lenders, the Company’s ability to successfully integrate its acquisitions, risks related to the sale of Quest Solution Canada Inc. to Viascan Group Inc. and other information that may be detailed from time-to-time in Quest Solution Inc.’s filings with the United States Securities and Exchange Commission. Examples of such forward looking statements in this release include, among others, statements regarding revenue growth, driving sales, operational and financial initiatives, cost reduction and profitability, and simplification of operations. For a more detailed description of the risk factors and uncertainties affecting Quest Solution, Inc. please refer to the Company’s recent Securities and Exchange Commission filings, which are available at http://www.sec.gov. Quest Solution, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by law.

Financial Tables Follow

  QUEST SOLUTION, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)    

 For the three months

  For the nine months

  

 ending September 30,

  ending September 30,

  

 2017

  2016

  2017

  2016

 Revenues

   

    

    

    

  Gross Sales

 $13,311,109

  $13,841,279

  $41,594,938

  $44,288,975

  Less sales returns, discounts, allowances

  (347,055

)  (277,128

)  (708,184

)  (849,256

)Total Revenues

  12,964,054

   13,564,151

   40,886,754

   43,439,719

  

   

    

    

    

 Cost of goods sold

   

    

    

    

  Cost of goods sold

  10,132,067

   10,910,089

   32,263,124

   34,648,909

 Total costs of goods sold

  10,132,067

   10,910,089

   32,263,124

   34,648,909

  

   

    

    

    

 Gross profit

  2,831,987

   2,654,062

   8,623,630

   8,790,810

  

   

    

    

    

 Operating expenses

   

    

    

    

  General and administrative

  481,287

   505,903

   1,308,395

   1,571,102

  Salary and employee benefits

  2,258,873

   1,871,610

   6,045,564

   6,471,563

  Depreciation and amortization

  440,433

   442,428

   1,324,345

   1,347,077

  Professional fees

  209,086

   192,814

   450,509

   603,190

 Total operating expenses

  3,389,679

   3,012,755

   9,128,813

   9,992,932

  

   

    

    

    

 Income (loss) from operations

  (557,692

)  (358,693

)  (505,183

)  (1,202,122

   

    

    

    

 Other income (expenses):

   

    

    

    

  Restructuring expenses

  –

   (84,317

)  (26,880

)  (544,941

) Gain on foreign currency

  –

   (90,215

)  –

   129,589

  Write-off of other assets

   

   (450,000

)   

   (450,000

) Interest expense

  (343,092

)  (1,110,804

)  (1,075,147

)  (2,802,980

) Other (expenses) income

  13,202

   3,065

   16,122

   6,871

 Total other expenses

  (329,890

)  (1,732,271

)  (1,085,905

)  (3,661,461

   

    

    

    

 Net Loss Before Income Taxes

  (887,582

)  (2,090,964

)  (1,591,088

)  (4,863,583

   

    

    

    

 Provision for Income Taxes

   

    

    

    

  Deferred

  –

   –

   –

   –

  Current

  (15,300

)  (376,326

)  (91,409

)  (491,254

)Total Provision for Income Taxes

  (15,300

)  (376,326

)  (91,409

)  (491,254

   

    

    

    

 Net loss from continuing operations

 $(902,882

) $(2,467,290

) $(1,682,497

) $(5,354,837

   

    

    

    

 Net loss from discontinued operations

  –

   (3,919,175

)  –

   (6,851,875

   

    

    

    

 Net Loss attributable to Quest Solution Inc.

 $(902,882

) $(6,386,465

) $(1,682,497

) $(12,206,712

  

   

    

    

    

 Other Comprehensive Loss

   

    

    

    

 Foreign Currency Adjustments

   

   120,333

    

   (361,744

   

    

    

    

 Net Loss attributable to Quest Solution Inc.

 $(902,882

) $(6,266,132

) $(1,682,497

) $(12,568,456

)Less: Preferred stock – Series C dividend

  (47,540

)  (43,968

)  (141,071

)  (62,707

   

    

    

    

 Net loss attributable to the common stockholders

 $(950,422

) $(6,310,100

) $(1,823,568

) $(12,631,163

   

    

    

    

 Net income (loss) per share – basic

 $(0.03

) $(0.18

) $(0.05

) $(0.34

)Net income (loss) per share – diluted

 $(0.03

) $(0.18

) $(0.05

) $(0.34

   

    

    

    

 Net loss per share from continuing operations – basic

 $(0.03

) $(0.07

) $(0.05

) $(0.15

)Net loss per share from continuing operations – diluted

 $(0.03

) $(0.07

) $(0.05

) $(0.15

   

    

    

    

 Net loss per share from discontinued operations – basic

 $-

  $(0.11

) $-

  $(0.19

)Net loss per share from discontinued operations – diluted

 $-

  $(0.11

) $-

  $(0.19

   

    

    

    

 Weighted average number of common shares outstanding – basic

  35,812,210

   35,762,326

   35,587,238

   36,506,733

 Weighted average number of common shares outstanding – diluted

  35,812,210

   35,762,326

   35,587,238

   36,506,733

                    QUEST SOLUTION, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)    

 As of

  

 September 30, 2017

  December 31, 2016

 ASSETS

   

    

 Current assets

   

    

  Cash

 $260,642

  $289,480

  Restricted Cash

  684,610

   665,220

  Accounts receivable, net (Note 5)

  8,271,965

   10,589,677

  Inventory, net (Note 6)

  746,894

   531,593

  Prepaid expenses

  281,215

   272,926

  Other current assets

  183,347

   772,966

   Total current assets

  10,428,673

   13,121,862

   

   

    

  Fixed assets, net (Note 7)

  98,918

   136,835

  Goodwill

  10,114,164

   10,114,164

  Trade name, net

  2,503,731

   2,936,481

  Customer Relationships, net

  5,592,116

   6,435,652

  Other assets

  41,613

   47,563

  

   

    

 Total assets

 $28,779,215

  $32,792,557

  

   

    

 LIABILITIES AND STOCKHOLDERS’ (DEFICIT)

   

    

 Current liabilities

   

    

  Accounts payable and accrued liabilities

 $13,558,337

  $10,566,066

  Accrued interest on note payable

  33,428

   –

  Line of credit (Note 10)

  3,677,661

   5,059,292

  Advances, related party

  100,000

   100,000

  Accrued payroll and sales tax

  1,571,821

   1,829,934

  Deferred revenue, net (Note 9)

  830,903

   879,026

  Current portion of note payable (Note 11)

  5,229,496

   9,782,925

  Other current liabilities (Note 8)

  238,700

   227,932

   Total current liabilities

  25,240,346

   28,445,175

  

   

    

 Long term liabilities

   

    

  Note payable, related party (Note 12)

  17,515,345

   17,515,345

  Accrued interest, related party

  1,121,818

   629,238

  Long term portion of note payable (Note 11)

  130,294

   130,294

  Deferred revenue, net (Note 9)

  418,128

   565,423

  Other long term liabilities (Note 8)

  415,397

   332,270

 Total liabilities

  44,841,328

   47,617,745

  

   

    

 Stockholders’ (deficit)

   

    

  Series A Preferred stock; $0.001 par value; 1,000,000 shares designated and 0 shares outstanding as of September 30, 2017 and December 31, 2016, respectively.

  –

   –

  Series B Preferred stock; $0.001 par value; 1 share designated and 0 shares outstanding as of September 30, 2017 and December 31, 2016, respectively.

  –

   –

  Series C Preferred stock; $0.001 par value; 15,000,000 shares designated, 3,143,530 shares outstanding as of September 30, 2017 and December 31, 2016, respectively, liquidation preference of $1.00 per share and a cumulative dividend of $0.06 per share.

  3,144

   3,144

  Common stock; $0.001 par value; 100,000,000 shares designated, 36,157,422 and 35,095,763 shares outstanding of September 30, 2017 and December 31, 2016, respectively.

  36,157

   35,095

  Common stock to be repurchased by the Company

  (230,490

)  (230,490

) Additional paid-in capital

  18,887,852

   18,302,262

  Accumulated (deficit)

  (34,758,776

)  (32,935,199

)  Total stockholders’ (deficit)

  (16,062,113

)  (14,825,188

)Total liabilities and stockholders’ (deficit)

 $28,779,215

  $32,792,557

            QUEST SOLUTION, INC. RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES (UNAUDITED)    

 For the three months

  For the nine months
  

 ending September 30,

  Ending September 30,
 EBITDA Calculation:

 2017

  2016

  2017

  2016
  

  

   

   

   
 Net loss

 (902,882

) (6,386,465

) (1,682,496

) (12,206,712
)Net loss from discontinuing operations

 –

  3,919,175

  –

  6,851,875
 Income Taxes

 15,300

  376,326

  91,410

  491,254
 Foreign exchange gain

 –

  90,215

  –

  (129,589
)Depreciation Amortization

 440,433

  442,428

  1,324,345

  1,347,077
 Interest Expense

 340,413

  1,110,804

  1,072,469

  2,802,980
 EBITDA

 (106,736

) (447,517

) 805,728

  (843,115

  

   

   

   
 Adjusted EBITDA Calculation:

  

   

   

   
  

  

   

   

   
 EBITDA

 (106,736

) (447,517

) 805,728

  (843,115

  

   

   

   
 Non Cash stock compensation

 416,548

  103,637

  565,593

  308,079
 Restructuring expenses

 –

  84,317

  26,880

  544,941
 Merger related costs *

 –

  –

  7,001

  25,188
 One time nonrecurring costs

 –

  450,000

  –

  468,245
 Adjusted EBITDA

 309,812

  190,437

  1,405,202

  503,338
  

  

   

   

   
 Net Revenue

 12,964,054

  13,564,151

  40,886,755

  43,439,719
  

  

   

   

   
 Adjusted EBITDA as a % of Net Revenue

 2.39

% 1.40

% 3.44

% 1.16
%

Investor Contact:
John Nesbett/Jen Belodeau
IMS
203.972.9200
jnesbett@institutionalms.com

Copyright © 2017 Marketwired. All Rights Reserved

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

Article source: http://www.otcmarkets.com/stock/QUES/news?id=175788

Islamic banking: How do we make income on a no-interest loan?

What if we couldn’t assign seductiveness on a loan?

That’s a quandary confronting any financial establishment that wants to offer a flourishing Muslim population. The Quran and Shariah law have despotic manners opposite charging interest, though North Jersey FCU in Totowa, N.J., has found a approach to offer this group.

James Giffin, arch selling officer during a $230-million credit union, remarkable that New Jersey has a large Islamic population. According to a New Jersey Almanac, a Garden State has a second largest commission of Muslims in a race (after Michigan).

“In 2009, we were approached by a members of a internal mosque” — Islamic Center of Passaic County, Patterson, N.J. — “about how we competence offer this community,” Giffin said. “After assembly with a imam, we began a investigate — including articulate to banks in Europe that also offer this segment. We grown lending relations and investment relations with Sharia-compliant companies.”

Islamic Center of Passaic County, Patterson, N.J.

The Islamic Center of Passaic County, Patterson, N.J., approached North Jersey FCU to see if a credit kinship would be peaceful to offer Shariah-compliant loans to a righteous members.

North Jersey FCU launched a Islamic banking products in 2010 — creation it a initial credit kinship in a U.S. to do so.

“We have members of a Muslim village regulating a Islamic checking and Islamic assets products,” Giffin said.

But how does a credit kinship make income on these products? It is tricky.

“[For example,] we make fad fees for home loans,” Giffin said. “We partnered with a Sharia-compliant debt association that is means to make mortgages where we can’t. We could not make Shariah-compliant loans given of a sovereign law [in] a Truth in Lending Act that requires us to list a seductiveness rate on a disclosure.”

Indeed, it is really formidable for U.S.-based financial institutions to make loans that don’t divulge a underlying seductiveness rates. As such, charity Sharia-compliant financial products raises some singular problems.

Giffin explained that a Islamic loans charity here in a U.S. by European banks and unfamiliar companies offer are not “traditional loans,” though rather contain a “lease-to-own” program, hence, no interest.

“That’s given during a finish of a bound time duration a borrower buys a skill for a bound price,” he said. “We are not in a leasing business. For us to issue a possess loans we would have to buy a skill on seductiveness of a member afterwards franchise it to them for 20 years. The same beliefs work with automobile loans where we are leasing a automobile to a member with a $1 buy-out during a finish of a franchise period.”

Mosque in Clifton, NJ

This mosque in Clifton, N.J., serves a burgeoning Muslim race in a area.

Of North Jersey FCU’s approximately 27,000 members, about 1,500 are estimated to be Muslims — and not all are mindful of Sharia law, Giffin noted. “It is a righteous that [follow] a stricter rules,” he said.

In sequence to foster and publicize these Islamic banking products, North Jersey FCU has a mobile bend it takes to a internal mosque and park outward on Fridays so it will be manifest when Muslims came out from afternoon prayers. “We are means to open accounts on a spot,” Giffin said.

North Jersey FCU also skeleton to enhance a Islamic banking division, he added.

At slightest one other U.S. credit kinship offers Islamic-compliant loan products — a $770,000 Jafari No-Interest Credit Union of Houston, Texas, that was designed for Jafari village members opposite a United States. (Jafari is one a 5 schools of Islamic thought.)

Launched in Feb 2016, this credit kinship has about 210 members.

Jafari No-Interest CU explains on a website that it can work but charging seductiveness given a handling losses and net value (capital) are saved by member comment fees (which volume to $3 per month), as good as additional intentional fees paid by members, and donations.

Operating losses are kept during a smallest by regulating donated bureau space and proffer staff. Jafari No-Interest CU pronounced a annual losses sum about $36,000, essentially for IT systems ($15,000) and ACH ($7,000).

As of Sep 2017, Jafari No-Interest CU had $560,000 in deposits; and $167,000 in loans issued. A sum of $56,700 in seductiveness payments have been avoided on these products, it added.

However, some restrictions do apply: deposits and withdrawals are authorised usually by ACH; and Jafari No-Interest CU offers no ATM services, no debit/credit card, and no checking services.

Imran Dhanji, boss and CEO of a credit union, told Credit Union Journal by email that it now it usually offers “refinancing of automobile loans and tyro loans. Most of a loans are for tyro loans.”

Still, according to a website, Jafari No-Interest CU skeleton to eventually enhance a product portfolio to “include no-interest loans for tiny business and college tuition, tiny loans for village members in financial hardship to equivocate high seductiveness payday/title loans, and leasing for cars and equipment.”

A series of credit unions in other western countries also offer Sharia-compliant loans.

Assiniboine Credit Union Canada of Winnipeg, Manitoba, has been charity “Islamic” mortgages given 2010.

The credit kinship explained that this loan is formed on a common tenure judgment called “musharaka” and is accessible for a squeeze of an existent skill for use as a primary chateau within Manitoba. The borrower enters into a partnership agreement with Assiniboine called “The Declining Partnership Agreement.” Under this deal, a borrower agrees to make unchanging payments to boost his or her share of a skill and for a right to occupy a home.

“During this time, a family has disdainful rights to live in a home and in sell they determine to compensate [Assiniboine] a profit. At a finish of a agreement a Muslim family is a solitary owners of a home,” Assiniboine pronounced in a press release.

Craig Peel, clamp president, sales and use during Assiniboine Credit Union told Credit Union Journal a credit kinship has some approximately 40 Islamic mortgages to date. “We do not have any other Shariah-compliant products,” he added.

Across a Atlantic in Great Britain, London Community Credit Union, that is formed in a heavily Muslim East End of London, pronounced on a website that it is “currently questioning a awaiting of charity an Islamic form loan formed on Shariah law.”

Brian Branch, WCOCU

Brian Branch, a boss and CEO of WCOCU

In a summer of 2013, a World Council of Credit Unions published a request called “Islamic Finance Manual: Operating Policies and Procedures for Credit Unions,” as a beam to substantiating Shariah-compliant credit unions in a building world, starting in Afghanistan.

“We have worked with or are wakeful of Islamic banking-based, Shariah-compliant credit unions in Iran, Indonesia, Malaysia, Kenya, United Kingdom and Australia in further to Afghanistan and a U.S.,” Brian Branch, a boss and CEO of WCOCU, told Credit Union Journal. “In a general context we have found that Islamic banking beliefs are practical good to a mild structure of credit unions.”


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Article source: http://www.nationalmortgagenews.com/news/islamic-banking-how-do-you-make-money-on-a-no-interest-loan

People on a move: Nov. 17

CALIFORNIA

TUSTIN

New American Funding has named Virginia Martinez as informal sales manager to cover a Southern California marketplace from a Central Coast to Coachella Valley.

She will manage a daily operations of a segment while concurrently operative to enhance a domain with a opening of new branches.

Martinez brings to a association some-more than 25 years of debt banking experience.

GEORGIA

ATLANTA

AmeriSave Mortgage Corp. pronounced that Robert J. Smith has supposed a company’s offer of a position of president, replacing Ed Abufaris who recently announced he was withdrawal a company.

Smith assimilated AmeriSave on Nov. 1 and will be allocated boss following receipt of required regulatory approvals.

Prior to fasten AmeriSave, he was a inhabitant operations executive for BNY Mellon’s debt organisation and before that, he was boss of Discover Home Loans.

MASSACHUSETTS

DANVERS

Mortgage Network Inc. pronounced that Sean Doucette has assimilated association as a debt loan officer portion a executive Maine area.

Doucette brings some-more than 15 years of banking and debt knowledge to Mortgage Network.

Most recently, he served as loan begetter for Key Bank and before to that managed Northeast Bank for 10 years.

MICHIGAN

KALAMAZOO

AmeriFirst Home Mortgage, a multiplication of AmeriFirst Financial Corp., has hired Patrick Mars as an area manager and loan officer in a Winter Park, Fla., branch.

Patrick Mars

Mars brings scarcely 20 years of knowledge to a role, including portion as sales manager during GMAC Mortgage from 1998 to 2008.

He will be charged with flourishing marketplace share via Central Florida while running clients via a debt process.

MISSOURI

LEE’S SUMMIT

Pendo, a inhabitant estimation government company, pronounced that Paul Wholley has been hired as clamp boss of sales, obliged for heading a company’s inhabitant sales team.

Wholley joins Pendo after spending a final 5 years during First American Mortgage Solutions in a inhabitant and midmarket division.

In addition, Steve Rouse has assimilated Pendo’s sales group as informal comment executive for a Midwest.

He comes to Pendo with some-more than 25 years of debt attention knowledge after operative with companies such as Verus, First American Mortgage Solutions and Credit Suisse.

Are we a debt veteran who recently altered jobs? Let us know! Send your proclamation and print (if available) to Glenn McCullom during glenn.mccullom@sourcemedia.com.


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Article source: http://www.nationalmortgagenews.com/news/people-on-the-move-nov-17

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