Empyrean Holdings Inc. Increases Stock Buy Back Plan to $1 Million Friday June 24, 9:30 am ET
HOUSTON--(BUSINESS WIRE)--June 24, 2005--Empyrean Holdings Inc. (OTCBB:EPYH - News), a national real estate holding firm, has announced that it will increase its stock buy back plan to allow a total of $1 million worth of the company's outstanding common shares. The shares will be returned to treasury in an effort to strengthen the company's balance sheet and reduce its overall cost of capital long-term.
CEO Robert L. Lee confirmed, "Despite the recent increase in the share price we believe that Empyrean's stock remains undervalued. Our management team still holds the view that our company stock is an exceptional investment especially in consideration of the projects that we have initiated. We have a significant amount of confidence in our development team, the viability of our corporate structure, and our long-term profit potential. We also firmly believe in hard assets and high income-generating real estate is going to be the primary focus of our future growth."
Empyrean will continue to carry out the purchases over the next several months either on the open market or through private transactions. Depending on market conditions and other factors, these purchases may be suspended or commenced at any time without prior notice.
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. Contact:
Empyrean Holdings Inc., Houston Robert L. Lee, 713-260-7236 www.epyh.comPosts: 89 | Registered: Aug 2004
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Is this a dead dog now? It had an awfully lot of interest, that's for sure.
Posts: 1035 | From: Ohio - USA | Registered: Apr 2005
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Empyrean Holdings Inc. to Begin $20 Million Residential Construction Plan Wednesday June 29, 12:30 pm ET
HOUSTON--(BUSINESS WIRE)--June 29, 2005--Empyrean Holdings Inc. (OTCBB:EPYH - News), a national real estate holding firm, has announced that it has initiated a plan to build over $20 million of new California residential construction with its partner, United Construction Group. These developments will include both single-family homes and multi-family apartment buildings in some of the hottest markets in the state including Monterey County, Santa Barbara County and Imperial County.
CEO Robert L. Lee stated, "We are very excited about the prospects associated with these developments. Some of the properties in these areas have appreciated by 30% last year and in one area there is an 8-month waiting list for a new home. Once again we would like to thank United Construction Group for the opportunity to invest in their quality developments and we are confident that our shareholders will be thrilled with the returns."
Note: "Safe Harbor" Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. Contact:
Empyrean Holdings Inc., Houston Robert L. Lee, 713-260-7236 www.epyh.comPosts: 89 | Registered: Aug 2004
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-------------------- "keep your stick on the ice & your cup firmly in place" Posts: 3651 | From: Algonac, MI. 48001 | Registered: Jun 2004
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