Dominion Lending Centres Clearlease Reports Reports Yangaroo (TSXV:YOO) Q1 loss more than doubles to $1.4M; revenue rises to $276K

Dominion Lending Centres Clearlease Reports Reports Yangaroo (TSXV:YOO) Q1 loss more than doubles to $1.4M; revenue rises to $276K

VANCOUVER, BC (June 30, 2011) Dominion Lending Centres Clearlease Reports Yangaroo Inc. (TSXV:YOO) has cited a legal settlement for recording a much bigger first-quarter loss despite a 49 per cent increase in quarterly revenue.

The secure digital media distribution company said Wednesday June 29, 2011 that its loss in the three months ended March 31 was $1.4 million or a penny a share, compared with a same-quarter loss of $694,000, also a penny a share, in the 2010 period.

Revenue was $275,799, up from $185,290, including a 91 per cent increase in U.S. revenues and a 28 per cent jump in Canada.

Growth was mostly due to the adoption of the DMDS 5.0 video delivery service by the music industries in both countries, Yangaroo said in a release.

Operating expenses increased by 76 per cent, due mostly to a one-time expense related to the recent settlement of litigation with a competitor.

“The settlement will greatly reduce legal expenditures in the future,” Yangaroo said.

On the TSX Venture market, Yangaroo stock was down half a cent, or 5.88 per cent, at eight cents Wednesday afternoon.

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Dominion Lending Centres Clearlease Commercial (DLC Clearlease/ is a fully diversified Lease Finance Mortgage Banking Brokerage Company specializing in Equipment Leasing, Automobile Leasing, Residential, Commercial Lending/Mortgage Financing. DLC Clearlease possesses the capability to accommodate financing needs ranging from a small second Home Mortgage to a Multi-Million Dollar Commercial Projects. No mortgage is too small or too large for this integrated Company.

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