WHITE PLAINS, NY / ACCESSWIRE / May 21, 2015 / Debt Resolve, Inc. (PINKSHEETS: DRSV) today announced that its Form 10-Q filing for Q1 2015 reported revenues of $470,093 which are by far the highest quarterly revenues in the company's history. These results are a strong indication that the company's new strategies, as laid out in its recent public filings, are working as planned.
"These revenues," said Stan Freimuth, CEO of Debt Resolve, "reflect the first full quarter of activity in our new joint venture, Progress Advocates LLC, whose results are most encouraging and validate the first key element of our new strategy for Debt Resolve. Scott Smith and his team have done an outstanding job." Freimuth added, "While there can be no guarantees, we fully expect this revenue growth trend to continue in the current quarter and beyond and to have a positive impact on operating income as Progress Advocates establishes a leadership position in its industry and also as we launch several other new initiatives in 2015."
"We have got off to a fast and successful start together," said Scott Smith, COO of Progress Advocates LLC. "The rapid results that the company has been able to achieve in such a short period of time are largely due to Stan Freimuth's commitment to a realistic, highly focused strategy to deliver sustainable results.” He added, "Stan's core message is clear: lead consumers to a path of financial independence by helping them solve what is currently the nation's single largest debt problem, student loans. Progress Advocates provides consumers the first step in helping them solve their personal financial puzzle, one that can eventually help lead them to financial freedom."
About Debt Resolve, Inc.
Debt Resolve develops and markets institutional software platforms which incorporate a patent protected bidding system for the management, on-line settlement and payment of receivables in a consumer friendly manner. Progress Advocates LLC is a Debt Resolve Inc. majority owned joint venture with LSH, LLC and provides documentation preparation services for federal student loan consolidation. Debt Resolve is publicly held and trades on the OTC Markets under the symbol DRSV. The company is headquartered in White Plains, New York.
Forward-Looking Statements
Certain statements in this press release and elsewhere by management of the Company that are neither reported financial results nor other historical information are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to actual results of the Company's operations varying significantly and materially from anticipated results. Debt Resolve undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by SEC rules. Investors are advised to consult any further disclosures made on related subjects in the Company's reports filed with the SEC.
Investor Relations:
Rene Samson
Debt Resolve, Inc.
rsamson@debtresolve.com
(914) 949-5500 x218
SOURCE: Debt Resolve, Inc.
