UCASU projects $600-800K gross profit from two deals
UC Asset LP (OTCQX: UCASU) projects a gross profit of $600,000 to $800,000 from two real estate deals in the second half of 2022.
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Rhea-AI Summary
UC Asset LP (OTCQX: UCASU) projects a gross profit of $600,000 to $800,000 from two real estate deals in the second half of 2022. The company has listed a 72-acre land in Dallas and has signed a Memorandum of Understanding (MOU) for another property in downtown Atlanta. Greg Bankston, managing general partner, indicates that the likelihood of closing these deals has significantly increased, with one property having a committed buyer and the other attracting multiple offers. However, he cautions that payment receipt remains uncertain.
In 2021, UC Asset reported a net profit of $0.12 per share, alongside a $0.10 dividend, although it experienced a loss in the first half of 2022.
Positive
- Projected gross profit of $600,000 to $800,000 from two deals.
- Increased likelihood of closing both real estate transactions.
- One property has a committed buyer, enhancing close probability.
Negative
- Company reported a loss for the first half of 2022.
Details
News Market Reaction – UCASU
The recorded move for UCASU in the trading session of this news was +100.00%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Atlanta, Oct. 25, 2022 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX: UCASU) releases a projection today, stating that the company may pocket
“Earlier this month, we announced the listing of our 72-acre land in the metropolitan area of Dallas, Texas. We also reached into an MOU with a buyer on another property we owned in downtown Atlanta, Georgia. Last week, we made breakthrough on both deals, and it appears that the chance of closing both deals by the end of this year has substantially increased,” claims Greg Bankston, managing general partner of UC Asset.
Bankston says that he cannot provide more details at this moment, but he confirms that one property has a very committed buyer, and the other property has received multiple offers.
However, Bankston cautions that anything may still happen until the company receives payments.
Last year, the company reported a net profit of
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit: www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
For More Information Contact: IR@UCasset.com
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