posted
this PR sounds good,--AUGRID Completes Final Due Diligence on Beijing Hotel
VINELAND, N.J., April 24, 2007 /PRNewswire-FirstCall via COMTEX/ -- AUGRID Global Holdings Corp. (Pink Sheets: AGHD.PK), a holding company that acquires and manages a diverse range of businesses, today announced that CEO MJ Shaheed has performed final due diligence on the first of a number of Chinese-based assets which the Company plans to acquire; a new hotel in Beijing valued at approximately US $42,000,000. "I believe the accountability and accuracy in our Company has to begin and end with the CEO, which is why I'm in China to personally conduct due diligence on several assets AGHD is considering for acquisition. The first of these assets is a four-star hotel located 15 minutes from Beijing Airport that opened a month ago. The hotel was designed to cater to the needs of the many members of the Korean business community who frequently travel to China, although all are welcome. We plan to acquire 51% of this property."
The hotel valuation was performed by American Appraisals China Ltd., part of the world's longest-serving and largest valuation group, American Appraisal Associates, Inc., engaged in among other things, real estate valuation, since 1896.
The Company also announced that funds have been placed in escrow that will enable it to acquire controlling interest in a meat processing company, as previously planned.
About AUGRID Global Holdings Corporation
AUGRID Global Holdings Corporation is a holding company that seeks to increase its asset base and shareholder value through the acquisition of private companies in diverse industries that have proven revenue generation abilities, defensible business plans, and a product or service to which its target market has demonstrated receptiveness.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements regarding AUGRID Corporation in this release that are not historical in nature, particularly those that utilize terminology such as "may," "should," "likely," "expects," "anticipates," "estimates," "believes" or "plans," or comparable terminology, are forward-looking statements based on current expectations about future events, which AUGRID Corporation has derived from the information currently available to it. These forward-looking statements involve known and unknown risks and uncertainties that may cause our results to be materially different from results implied in such forward-looking statements. Important factors known to AUGRID Corporation that could cause forward-looking statements to turn out to be incorrect are identified and discussed from time to time in AUGRID Corporation's filings with the Securities and Exchange Commission. The forward-looking statements contained in this release speak only as of the date hereof, and AUGRID Corporation undertakes no obligation to correct or update any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE AUGRID Global Holdings Corporation
CONTACT: AUGRID Global Holdings Corp., +1-856-205-0856
Outstanding Shares: 395,141,000 as of 2007-03-16
Estimated Market Cap: 118,542 as of 2007-04-23 (based on Outstanding Shares as of 2007-03-16) Authorized Shares: 19,960,000,000 as of 2007-03-16 Float: 385,165,646 as of 2007-03-16 Number of Shareholders of Record: 760 as of
Current Capital Change: shs decreased by 1 for 30 split Ex-Date: Record Date: Pay Date: 2007-03-14
Dividends:
Company Notes: Formerly=AuGRID of Neveda, Inc. until 9-02 Formerly=AuGRID Corp. until 1-07
Class Notes: Capital Change=shs decreased by 1 for 50 split. Effective date=7-24-02 Capital Change=shs decreased by 1 for 100 split. Effective date=10-7-04 Capital Change=shs decreased by 1 for 1,000 split. Effective date=10-27-05 ?????????????????
IP: Logged |
posted
Hey man, just a little typo in your thread title. A "42 million hotel deal" is just SLIGHTLY different than a "42million dollar hotel deal"
IP: Logged |
posted
What's so good about buying a $42M hotel. Where do you think they will be getting the money from to finance the deal. Well they have 19.5B reserve shares that can sure raise a lot of cash. Sounds like major dilution plans.
Pink Sheet:
Outstanding Shares: 395,141,000 as of 2007-03-16
Estimated Market Cap: 118,542 as of 2007-04-23 (based on Outstanding Shares as of 2007-03-16) Authorized Shares: 19,960,000,000 as of 2007-03-16 Float: 385,165,646 as of 2007-03-16 Number of Shareholders of Record: 760 as of
Current Capital Change: shs decreased by 1 for 30 split Ex-Date: Record Date: Pay Date: 2007-03-14
IP: Logged |
quote:Originally posted by PCola77: Hey man, just a little typo in your thread title. A "42 million hotel deal" is just SLIGHTLY different than a "42million dollar hotel deal"
gee i thought it said they were building 42 million hotels!!! LOL!!
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
![[Smile]](smile.gif)
