Uc Asset Com Stock Price, News & Analysis

UC Asset LP (OTCQB: UCASU) has scheduled its annual shareholder meeting for March 31, 2023, to discuss a projected gross profit of $1 million for the year, equating to approximately $0.19 per share. Shareholders from 2022 can attend the virtual meeting via Zoom. The company plans to transition from residential to cannabis cultivation properties, rebranding as 'Ultimate Cannabis Asset.' Additionally, management seeks to revise bylaws to reduce fees and enhance net profit. Having achieved $550,000 gross profit in January 2023, UC Asset is also debt-free and has positive cash reserves. Last year, the company distributed a $0.10 per share dividend, with potential for more.

UC Asset LP (OTCQB: UCASU) has successfully paid off all debt obligations, resulting in zero debt. The company maintains positive cash reserves and is targeting a gross profit of $1 million (approximately $0.19 per share) for 2023. As interest rates rise, UC Asset is restructuring its debt investments to secure higher income.

In January 2023 alone, UC Asset reported a gross profit of $550,000. The company has consistently shown operational profitability, achieving $491,000 in gross profit for 2021 and plans to reduce management compensation to potentially increase net income and dividends for shareholders.

UC Asset LP (OTCQB: UCASU) has completed the sale of a 72-acre farmland in Dallas, Texas, for $1.91 million in cash. Originally acquired for about $800,000 in 2016, the land was sold at $1.30 million in 2020 and repurchased in 2021 for $1.35 million. The transaction results in approximately $550,000 in gross profit for UC Asset, which has no debt on the property, ensuring all proceeds will contribute to the company's net profit. The firm aims for a $1 million gross profit in 2023, with ongoing deals projected to bolster performance. With 5.3 million shares outstanding, gross profit allocation may approach $0.20 per share for common shareholders.

UC Asset LP (OTCQB: UCASU) has entered a Memorandum of Understanding (MOU) to acquire a 10,000 square foot cannabis cultivation property in Oklahoma, with a non-cash deal. The company plans to invest $1 million for an additional 5,000 square feet upon closing. The operator, Fire Ranch Farm, will pay monthly rent, yielding a projected 14.4% cash on cash annual return. The acquisition will involve issuing 2.5 million preferred shares convertible to common shares, raising concerns over potential dilution for existing shareholders. But management asserts that increased rental income may offset this. The current facility is engineered for full-cycle cannabis production.

On January 12, 2023, UC Asset LP (OTCQB: UCASU) announced a MOU to acquire a 10,000 square foot cannabis cultivation property in Oklahoma. This non-cash acquisition involves issuing 2.5 million preferred shares, allowing the property owner to retain a rental agreement, with monthly rents yielding a 14.4% annual return. UCASU plans to invest $1 million to expand the facility by an additional 5,000 square feet. The lease is set for 3 years with a 5% rent increase every 24 months. This acquisition marks UCASU's first entry into the cannabis sector, emphasizing long-term growth and strategic investment in Oklahoma.

UC Asset LP (OTCQB: UCASU) aims for over $1 million in gross profit for 2023, marking a 100% increase from previous highs. In prior years, the company reported gross profits of $491,000 in 2021, $103,000 in 2020, and $42,000 in 2019. With two deals expected to close in H1 2023, projected profits range from $600,000 to $800,000. Despite optimism, management warns of potential challenges in net income growth due to non-operating costs. Nonetheless, plans to reduce management payments may improve net margins and allow for increased dividends for shareholders.