NEW YORK, NY / ACCESSWIRE / June 15, 2018 / SeeThruEquity, a leading independent equity research and corporate access firm focused on smallcap and microcap public companies, today announced it has issued an update on Mr. Amazing Loans Corporation (OTCQB: MRAL).

The report is available here: MRAL June 2018 Update Note.

Mr. Amazing Loans Corporation (OTCQB: MRAL) provides online unsecured consumer loans under the brand name "Mr. Amazing Loans" via its website, www.mramazingloans.com, in 20 US states. The company offers $5,000 and $10,000 personal loans over a five-year term at rates ranging from 12.0% to 29.9% APR.

MRAL is licensed and originating direct consumer loans in 20 states including: Alabama, Arizona, California, Florida, Georgia, Illinois, Kentucky, Louisiana, Maryland, Missouri, Nevada, New Jersey, New Mexico, Ohio, Oregon, Pennsylvania, Texas, Utah, Virginia, and Wisconsin. The Company was founded in 2010 and is headquartered in Las Vegas, Nevada.

Highlights from the note include:

Mr. Amazing Loans updates corporate name, ticker to MRAL

On April 30, 2018, IEG Holdings announced that it had undergone a corporate name change to Mr. Amazing Loans Corporation. The new corporate name change appears to be better aligned and more easily recognizable with its core business of providing direct to consumer loans under the same brand. Additionally, to reflect the updated corporate name, the company announced a new ticker symbol, OTCQB: MRAL.

MRAL announces 1Q18 results, to cut costs

On April 23, 2018, MRAL filed its 1Q18 10-Q with the SEC for the period ending March 31, 2018. Revenues were $0.39mn versus $0.47mn in 1Q17, representing an annual decline of 15.6%. Net Losses were ($1.04mn), and EPS came in at ($0.06) per share, as the company faced higher SG&A and public company expenses than the prior year period. Going forward, CEO Paul Mathieson stated that he would reduce expenses -- including a 50% reduction to his consulting contract with the company. MRAL expects to raise capital to support growth plans in the second half of the year and 2019.

MRAL announces $20mn debt facility for subsidiary

On June 8, 2018, MRAL announced that its wholly owned blockchain subsidiary MRAL Blockchain LLC obtained a 5-year, $20mn debt facility from Singapore-incorporated company, Investment Evolution Coin Ltd.("IEC Ltd"). This is a sizeable amount relative to the sub-$10mn market capitalization of MRAL, and we are intrigued as to how this capital might be deployed to create value.

According to the release, IEC Ltd is currently 100% owned by certain Mr. Amazing Loans' stockholders, including Paul Mathieson, Mr. Amazing Loans' President, Chief Executive Officer, Chief Financial Officer and sole director who is IEC Ltd's majority stockholder. The announcement also stated that, in connection with the debt facility, the IEC Ltd. also purchased 360,000 shares of MRAL Series H preferred stock, providing funding for MRAL.

No change to price target

Our price target is unchanged at this time for MRAL. We will look to review the target when there is more clarity on MRAL loan volume growth and the impact of the new loan facility at the wholly-owned subsidiary, MRAL Blockchain LLC. MRAL is a high-risk, high potential reward company in the consumer finance sector, which will likely need to raise additional capital to implement its growth plans.

Please review important disclosures in the report and at www.seethruequity.com.

About Mr. Amazing Loans Corporation

Mr. Amazing Loans is a Securities and Exchange Commission ("SEC") reporting fintech company that provides online $5,000 and $10,000 unsecured consumer loans under the brand name "Mr. Amazing Loans" via its website and online application portal. Mr. Amazing Loans is a direct lender with state licenses and/or certificates of authority in 20 U.S. states and all loans are originated, processed and serviced out of our centralized Las Vegas, NV head office. For more information about Mr. Amazing Loans, please visit https://ir.mramazingloans.com.

About SeeThruEquity

Since its founding in 2011, SeeThruEquity has been committed to its core mission: providing impactful, high quality research on underfollowed smallcap and microcap equities. SeeThruEquity has pioneered an innovative business model for equity research that is not paid for and is unbiased. SeeThruEquity is the host of acclaimed investor conferences that are the ultimate event for publicly traded companies with market capitalizations less than $1 billion.

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