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VRMD...Am I alone on this one?
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[QUOTE]Originally posted by gmoney: [QB] [QUOTE]Originally posted by Garfield1981: [b]Why do you think it can bounce back to .05+? When will this happen in your opinion? Thanks.[/b][/QUOTE] Vision Real Estate Management and Development Announces $8 Million Sale of Assets and Dividend 6/28/2004 9:11:00 AM ALBANY, N.Y., Jun 28, 2004 (BUSINESS WIRE) -- Vision Real Estate Management and Development, Inc. (Pink Sheets: VRMD - News) today announces it has closed on the sale of 90% of its three real estate subsidiaries (Visions One Management Group, Inc., Capital District Property Investors, Inc., Future Capital Investments LLC) and 90% of its trucking subsidiary, DJ Transport, Inc. for a purchase price of $8,000,000 in the form of a secured five year promissory note from Nieves Management, Inc. of Albany, NY. In addition, the remaining 10% of both the combined real estate companies and DJ Transport will be passed on to the shareholders of record, as of August 15, 2004, in the form of a stock dividend. For every one share of VRMD owned, shareholders will receive 2 shares of the combined real estate companies and 3 shares of DJ Transport. "The sale of the above assets gives Vision Real Estate Management and Development, Inc. a book value of over $.07 per share," states Daniel J. Duffy, Vice President of VRMD. "The sale of these assets is one of the final steps needed in order to close on the pending acquisition of MEM Financial Solutions, Inc., a $45 million mortgage company," stated Donovan Rhoden, President and CEO of Vision Real Estate Management and Development. "In the upcoming weeks, our shareholders can expect to see a vast array of changes, including a name change, symbol change and a change in the management structure of our company." Forward-Looking Statements the private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond control of the company, actual results may differ materially from the expectations expressed in the forward-looking statements. SOURCE: Vision Real Estate Management and Development Inc. Vision Real Estate Management and Development Daniel J. Duffy, 518-438-8100 ex 303 Fax: 518-862-9247 HTTP:/WWW.VRMDCORP.COM [/QB][/QUOTE]
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