(I hope the CEO thinks he has a very good shot at it; if he fails to buy it I think it will adversely affect the stock. It would be better if he held off til things were happening, imo).
Union Equity to Submit Bid for Mizner Mini-Mansion Business Wire - April 29, 2005 09:03
PALM BEACH, Fla., Apr 29, 2005 (BUSINESS WIRE) -- Union Equity Inc. (Pink Sheets:UNQT) has been approached regarding the availability of a Mizner mini-mansion in the historic Northwood District of West Palm Beach. The company intends to submit a formal written offer before business close today.
"It's a distress sale and I just got the call last night from a longtime associate," said CEO Michael Anthony. "It's a gorgeous piece of property and it hasn't even been listed yet on MLS. If we can get it for the right price I'm confident it's good for a quick turnover on the open market."
Mizner mini-mansions are basically Spanish-style stucco homes with barrel-tile roofs. They have become increasingly popular over the past several years in South Florida with celebrities and high-end investors. They are typically two-story residential properties with a separate guest house.
"This style of architecture has always been one of my favorites and this particular property has already been completely updated," Anthony said. "The bottom line though is that we have to get it for the right price."
On April 18, 2005 Union Equity approved a 600% dividend in the form of a six-for-one forward split of its common stock. Shareholders who purchase stock in the company by May 16, 2005 will receive six additional shares of common stock for every single share owned. Shareholders or potential shareholders who have technical questions regarding the dividend should contact their brokers directly.
Union Equity advises shareholders as well as the general public to contact the company through their website and provide their e-mail addresses so they may be included in the company's upcoming quarterly newsletter. The tentative date for the first issue is June 1, 2005.
-------------------- May your trading build your character as well as your portfolio.
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That really pisses me off. I dumped a lot of TNOG a couple days before it exploded yesterday just to further increase my shares in UNQT. (I have a lot of faith in them) Oh, well at least TNOG is readjusting from yesterday so I can get back in. Happy trading.
-------------------- wide open until you see god, then brake!
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With that, I'm revising my interpretation (now knowing that the management knows little about dividends, even their own!) to 6:1 split instead of 7:1 split.
-------------------- May your trading build your character as well as your portfolio.
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I'm back in with even more shares. Just one point above my previous price as well. Woot! Hoping this minimansion will bring good news next week. It didn't take much to get the stock up to .006!
-------------------- May your trading build your character as well as your portfolio.
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Checked out the posts over on Raging Bull, they are running their yaps about this being a scam. Lots of bashers over there. I always viewed that as a good sign.
-------------------- If it wasn't for bad luck I'd have no luck at all.
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I try not to base my decisions on what others say. I use the boards as a source of info to be followed up by my own DD and as a way to encourage myself to be cautious. I used to go by what boards said and lost 50% of my portfolio .
-------------------- May your trading build your character as well as your portfolio.
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3 Icon 1 posted May 02, 2005 09:00 Profile for bullish_pennystocks Send New Private Message Edit/Delete Post Reply With Quote news
Press Release Source: Union Equity, Inc.
Union Equity Inks Pre-Sale Reservation Agreement with Hard Rock Cafe Hotel & Casino in Las Vegas Monday May 2, 8:55 am ET
PALM BEACH, Fla.--(BUSINESS WIRE)--May 2, 2005--Union Equity Inc. (Pink Sheets:UNQT - News) has executed a pre-construction reservation agreement to acquire a unit at the new Hard Rock Hotel & Casino condominium in Las Vegas, Nevada. This reservation agreement includes Union Equity in the elite "pre-sale" group, meaning that whatever unit the company secures will be done so at "first-tier" pricing. ADVERTISEMENT
Pre-construction condominiums are sold in phases and the realtors for the pre-sale group have to actually be invited by the developer to participate. The buyers they bring to the table get the opportunity to lock in prices "pre-sale" before units become available to the general public at higher prices.
"One of our longtime associates at Metropolitan Realty in Las Vegas was just invited to join the pre-sale group late last week," said Union Equity CEO Michael Anthony. "When she contacted us Friday we already knew the Hard Rock Cafe project intimately so we moved on it immediately. I didn't hesitate for a second because I'm convinced the project will sell out in record time."
Once the pre-sale group has been accommodated, remaining units, if any exist, will be made available to the general public.
Unit prices increase during each phase of pre-construction condominium sales. Traditionally, there have been several price tiers ranging from the most desirable "pre-sale" to the final pricing stage that occurs when the developer releases the last few remaining units immediately before the building is completed. Recently however, hot condominium projects have sold out in a matter of days; some on the first day units become available to the general public.
"The Hard Rock Cafe project perfectly fits our criteria and will be just one part of the Union Equity mosaic," Anthony said. "I believe it is the single hottest project in the country, if not the world. Being part of the pre-sale group is the icing on the cake."
Peter Morton, chairman and founder of the Hard Rock Cafe Hotel & Casino plans to build the $1 billion condominium hotel and entertainment venue. The facility will encompass more than 1.5 million square feet and will spread over 24 acres in four buildings. Once combined with the existing Hard Rock Cafe Hotel & Casino, the two properties will cover a total of 41 acres. The project will be just two blocks from the Las Vegas Strip.
The Hard Rock Cafe Hotel & Casino project is being designed as a mixed-use, master planned development that will include a collection of unique restaurants and nightclubs, a number of world class retailers, a state-of-the-art health club a full-service spa and a variety of other recreational facilities.
Chairman Peter Morton is currently meeting with restaurateurs and retailers from around the world for this project. His goal is to incorporate the same excitement and innovative features that have made the Hard Rock Cafe Hotel & Casino one of Las Vegas's most popular destinations.
The current Hard Rock Cafe Hotel & Casino appeals to a young, affluent demographic. According to Metropolitan Realty, numerous celebrities are included in the pre-sale group for the upcoming condominium.
"Due to the fact that the property has been deemed mixed use, we can rent it on a short-term or long-term basis," Anthony said. "Obviously, we always have the option of selling it outright."
The Hard Rock Cafe Hotels and Casinos are subsidiaries under the parent company of the Rank Group, PLC (NASDAQ:RANKY - News) http://www.rank.com. For more information on The Hard Rock Hotel & Casino, visit http://www.hardrock.com.
This past Friday, April 29, 2005, Union Equity submitted a formal bid on a Mizner mini-mansion in West Palm Beach. Mizner mini-mansions are essentially Spanish-style stucco homes with barrel-tile roofs. They have become increasingly popular over the past several years in South Florida with celebrities and high-end investors. They are typically two-story residential properties with a separate guest house.
Union Equity's bid on this property is currently under consideration.
On April 18, 2005 Union Equity approved a 600% dividend in the form of a six-for-one forward split of its common stock. Shareholders who purchase stock in the company by May 16, 2005 will receive six additional shares of common stock for every single share owned. Shareholders or potential shareholders who have technical questions regarding the dividend should contact their brokers directly.
Union Equity advises shareholders as well as the general public to contact the company through their website and provide their e-mail addresses so they may be included in the company's upcoming quarterly newsletter. The tentative date for the first issue is June 1, 2005.
About Union Equity
Union Equity is a national real estate development and holding company, specializing in the fields of Residential Property Development, Mortgage Finance and Construction of New Residential Properties. The company operates independently and through its wholly-owned subsidiary Eden Development Group and plans to grow aggressively over the next two to three years through acquisitions, mergers and internal growth.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004.
Forward-Looking Statements
This release contains forward-looking statements within the meaning of the Securities Exchange Act of 1934, which represents the Company's expectations or beliefs concerning, among other things, future operating results and various components thereof and the adequacy of future operations to provide sufficient liquidity. The Company cautions that such matters necessarily involve significant risks and uncertainties that could cause actual operating results and liquidity needs to differ materially from such statements, including, without limitation: (i) increased competition, (ii) fluctuations in price, demand and supply of real estate markets and (iii) risks associated with high capital long term investments.
Further information on the company can be found on their website; http://www.UNQT.com.
-------------------------------------------------------------------------------- Contact: Union Equity, Inc., Palm Beach Kay Marie, 800-916-3457 Fax: 800-916-3451 contact@union-equity.com
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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UNQT is only securing one unit. How is unit defined. One individual condo or a block of condos within a unit. Either Mike Anthony has purchased a nice vacation home for himself or maybe UNQT is trying to do what they are saying they are going to do ???
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why does this keep dropping grrr news every day most about how honest the ceo is and the steps hes taking to shake shorters off his stock and all it does is sit this thing is gonna pop soon i hope i dont have ti wait till after the split to see it though
-------------------- "The Americans will always do the right thing... After they've exhausted all the alternatives." - Winston Churchill
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Um, GAXY was on its way down before the split. UNQT has been going up quite strongly long before the announcement.
I don't think much of your opinion because it doesn't seem to have much fact behind it. However, I'm always open to hear what others have to say, as I'll do my own DD on it to see if it is valid.
-------------------- May your trading build your character as well as your portfolio.
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Union Equity CEO Commends Shareholders for Uniting to Fight Short Selling Thursday May 5, 9:01 am ET Sets Sights on Next Acquisitions
PALM BEACH, Fla.--(BUSINESS WIRE)--May 5, 2005--Union Equity Inc. (Pink Sheets:UNQT - News) has received hundreds of correspondences from shareholders in the past weeks, many of which detailed stock positions held and asked how to take delivery of stock certificates in an effort to combat short selling.
"I never expected this type of response from shareholders," said CEO Michael Anthony. "Last week when we requested that shareholders take delivery of their certificates to combat short selling, I knew it would separate the speculators from the investors, but the sentiment seems to be that people are in this for the long-term. I am ecstatic to see that there are so many people who share my personal belief that real estate is a powerhouse sector."
Union Equity previously requested that shareholders contact their broker/dealers and request that their shares of company stock be delivered to them in certificate form in order to make it more difficult for short-sellers to borrow stock. Theoretically, if there are fewer shares out there for short-sellers to borrow, it makes it harder for them to achieve their objective.
"I want to thank our shareholders for their support but I can't give advice regarding how to store stock certificates or how to take delivery," Anthony said.
The company asks shareholders to contact their respective brokers or brokerage firms regarding any technical questions regarding the delivery and handling of stock certificates.
In accordance with the company's previously discussed Goliath Program, the company is currently contacting larger real estate developers to establish cooperative relationships regarding future inclusion on "pre-sale" lists and other acquisitions. The company has so far received positive feedback.
"The Hard Rock acquisition is a prime example that timing is everything in real estate," said Anthony. "One of our immediate goals is to get our foot in the door with developers who specialize in condominium conversions and construction so they think of us first when they're putting together their next project."
The company is also actively researching residential construction and renovation projects in South Florida through their wholly-owned subsidiary, Eden Development Group.
This past Monday, May 2, 2005, Union Equity was included among such celebrities as Tommy Lee, comedian Drew Carrey, supermodel Claudia Schiffer, country western singing sensations The Dixie Chicks and several of the stars of "That 70s Show" in the elite pre-sale group for the Hard Rock Cafe Hotel & Casino's new condominium project in Las Vegas. By locking in during "pre-sale" prior to April 30, Union Equity has access to unit pricing lower than that offered to the general public. The Hard Rock Cafe Hotel & Casino residences officially opened for sale to the public on May 1, 2005.
Union Equity shareholders will be updated regarding sales statistics at the Hard Rock Cafe Hotel & Casino residences as soon as these figures become available.
The Hard Rock Cafe Hotels and Casinos are subsidiaries under the parent company of the Rank Group, PLC (NASDAQ:RANKY - News) http://www.rank.com. For more information on The Hard Rock Hotel & Casino, visit www.hardrock.com.
On April 29, 2005, Union Equity submitted a formal bid on a Mizner mini-mansion in West Palm Beach. Mizner mini-mansions are essentially Spanish-style stucco homes with barrel-tile roofs. They have become increasingly popular over the past several years in South Florida with celebrities and high-end investors. They are typically two-story residential properties with a separate guest house.
Union Equity's bid on this property is currently under consideration.
-------------------- It is always darkest before it goes completely BLACK!!!
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Good initial bounce from the news, but I don't think it has enough steam to make a run or anything. Bid only at .0028, ask only at .0032 and both dropping.
-------------------- wide open until you see god, then brake!
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Sorry Thorn, I was looking at my BxA offers and sizes along with Time and Sales. I am at school right now so I don't have any access to my quotetracker system at home. When I get home I will try to look at them. I was considering getting back in, but that news wasn't that big and there is still optimal time before the split to get in at a cheaper price. Sorry buddy I couldn't help you more right now. I'm thinking that it will still go down or at least hold until maybe Tuesday, six days before the split. Just an opinion though. Glenn
-------------------- wide open until you see god, then brake!
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