Uc Asset Com Stock Price, News & Analysis

UC Asset (OTCQX: UCASU) has received a permit from Atlanta to initiate renovations on the historic Rufus Rose House, a Victorian mansion built in 1901. The renovation will begin with electrical repairs, including a temporary power pole installation. The project aims to preserve the building's legacy while catering to the 50-60 million tourists visiting Atlanta annually. The Rufus Rose House is recognized as a historic site, listed on the National Register of Historic Places since 1977. UC Asset seeks to engage the community and enhance Atlanta's cultural significance through this landmark restoration.

UC Asset LP (OTCQX: UCASU) announces a $0.10/share dividend for shareholders holding shares as of December 31, 2021. Following the completion of its 2021 financial audit, the company reports a $0.12 per share net income, reflecting a significant 330% growth year-over-year. This growth is complemented by a 73% increase in operating profit, amounting to $1.41 million. UC Asset plans to invest up to $50 million in high-yield cannabis properties, aiming for 18%-20% annual returns amid ongoing recession predictions, and is pursuing an up-list to NYSE American or NASDAQ Small Cap.

UC Asset (OTCQX: UCASU) has expressed optimism about significant profit growth despite potential recession forecasts. Founder Larry Wu emphasizes a shift from conventional real estate strategies to innovative portfolio management, targeting cannabis and trendy properties. The company exited most residential investments and entered the cannabis sector, projecting annual returns of 18%-20%. With a strong cash position and plans to raise $10-$30 million via a secondary public offering, UC Asset aims to uplist to NYSE American or NASDAQ by mid-2023.

UC Asset LP (OTCQX: UCASU) reports a significant increase in profits for fiscal years 2021 and 2020 after changing its accounting method. The company expects a 73% increase in operating profit for 2021, totaling $1.41 million, and a 330% rise in net income, reaching $671,000. Driven by a strong residential property market, UC Asset shifted its focus to non-residential properties, particularly cannabis, Airbnb, and historic landmarks. The company plans to invest between $10 million to $50 million in cannabis properties, with a $0.10 dividend announced for shareholders.

UC Asset LP (OTCQX: UCASU) announces improved financial results for fiscal years 2020 and 2021 following a shift from fair market value accounting to historical cost accounting. Expected net income for 2021 is $0.12 per share, up from $0.10, and a significant increase in 2020's profit to $0.021 per share, a tenfold rise. Management respects SEC guidelines in changing accounting methods, aiming for a clearer financial perspective. The firm plans a $0.10 dividend for shareholders and potential up-listing to NYSE American or NASDAQ, alongside a $10-30 million secondary offering.

UC Asset LP (OTCQX: UCASU) announced a switch from fair market value accounting to historical cost accounting, which may lead to improved profit results for fiscal years 2020 and 2021. Previously, profits were reported close to zero for 2020, with a projected operating profit of $0.10 per share for 2021. The SEC’s rejection of the company’s investment accounting basis prompted this change. UC Asset anticipates reporting higher profits due to significant property sales during these years. Additionally, a dividend of $0.10 per share is planned if net income exceeds projections.

UC Asset LP (OTCQX: UCASU) is launching a program to form partnerships with licensed cannabis growers to expand its portfolio, projected to reach $50 million. The company has signed three letters of intent totaling $2.2 million in investments and aims to grow its portfolio significantly. By acquiring properties and providing capital to growers, UC Asset hopes to ease their financial burdens and enable them to focus on cultivation. Additionally, the company plans to file Form S-1 for a secondary public offering and pursue an uplist to NYSE American or NASDAQ small cap.

UC Asset LP (OTCQX: UCASU) reported a net gain of $0.13 per share for 2021, within the forecast of $0.10-0.15. Net equity grew to $1.72 pre-dilution from $1.58 in 2020. The increase includes $0.10 from operations and $0.03 from stock buybacks of 150,000 shares at $0.60 each. The company confirms a $0.10 cash dividend for eligible shareholders. The financials remain unaudited, with potential for adjustment. UC Asset is focusing on cannabis property investments aiming for a portfolio expansion of $5-10 million and plans to up-list to NYSE American or NASDAQ.

UC Asset LP (OTCQX: UCASU) has signed a letter of intent (LOI) to acquire a 5-acre cannabis growth facility in Oklahoma for $440k. This property includes two grow buildings and is expected to generate a minimum gross revenue of $120k per month. This acquisition follows another LOI for a 4-acre property negotiated down to $500k. With over $800k cash available, the company aims to expand its portfolio by $10-30 million this year, primarily with cannabis properties. UC Asset is also planning a secondary public offering to support this growth.