The Federal Trade Commission commenced suit against Ideal Financial Solutions, Inc. and certain affiliated entities. The complaint alleges that Defendants have engaged in unfair and deceptive practices in violation of the Federal Trade Commission Act (FTC Act), 15 U.S.C. Section 45(a) by: obtaining consumer credit card and bank account information and implementing charges against those accounts without the consumers’ express informed consent; falsely representing that consumers have authorized charges; and making deceptive statements to consumers regarding the availability of refunds. The case was filed in the U.S. District Court in Las Vegas and is captioned: FTC v. Ideal Financial Solutions, Inc., et al., Case No. 2:13-cv-00143-MMD.

Ideal Financial Solutions, Inc. has been approached by various investors and has entered into preliminary discussions regarding a potential acquisition or merger with multiple entities recently. "We have made this difficult decision to suspend our audit after very careful consideration. The delays caused by changing auditing firms has been costly in both time and money and we felt it prudent and in the best long-term interests of our shareholders to focus our available resources on increasing revenue via our traditional and new business lines. We have been approached by multiple, highly-reputable parties in regard to a possible merger or acquisition of the Company or its assets and our team is presently evaluating the potential benefit to our shareholders. We will do our very best to keep the public apprised of any material developments and our ongoing efforts to increase revenue and profitability," said CEO of Ideal Financial, Steven Sunyich. The management has decided to temporarily suspend the audit and to focus its cash resources on increasing revenue in existing business lines and new business verticals to enhance the valuation of any possible transaction.

Effective May 21, 2012, Ideal Financial Solutions, Inc. changed its OTCPK stock ticker symbol to IFSL from IFSLE.