Ludwig Trumpets Merger with Direct Mortgage

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, December 19, 2019

It may not represent Peace on Earth, and goodwill to ALL men, but at least one merger took centre stage in the days leading up to Christmas.

Sparks, Nevada-based Ludwig Enterprises Inc., (OTC:LUDG) Thursday completed its consolidation of Direct Mortgage Investors

Ludwig management claims this will be the first of several acquisitions that will allow the company to execute its business plan to roll-up mortgage companies and financial services companies related to the mortgage industry.

Based in Chicago, Direct is a mortgage broker that was formed via multiple brokers and offices coming together in 2017. Direct is licensed in 14 states. The firm has approximately 80 loan officers in multiple offices in Illinois, Michigan and Florida. The principals of Direct, on average, have more than 20 years of experience in the mortgage business.

In fiscal 2018, Direct amasses $2.4 million in revenue and around $100,000 in profit.

Ludwig shares had gained 2.2 cents, or 137.5%, to 3.8 cents, late Thursday morning, on volume of 50,000 shares.

Copyright © 2019 AllPennyStocks.com. All rights reserved. Republication or redistribution of AllPennyStocks.com's content is expressly prohibited without the prior written consent of AllPennyStocks.com. AllPennyStocks.com shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon