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THIS IS A HOT STOCK. THEY ARE INVESTING IN REAL ESTATE. YOU CAN'T GO WRONG. DO YOUR DD. DON'T BE LEFT BEHIND. THIS WAS UP TO .04 YESTERDAY.
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This is why there is a buying frenzy now...
NEWS!!!! Empyrean Holdings to Joint Venture with Florida Real Estate Firm Business Wire - June 23, 2005 13:07
HOUSTON, Jun 23, 2005 (BUSINESS WIRE) -- Empyrean Holdings Inc. (OTCBB:EPYH), a national real estate holding company, is finalizing plans to initiate a joint venture with a very well-established central Florida real estate and mortgage company. Management anticipates the venture will not only generate additional cash-flow for the company, but also allow increased access to more traditional mortgage-based financing. Management's goal is to reduce the cost of capital associated with its projects and increase the effective returns for its shareholders.
CEO Robert L. Lee stated, "We are following a path of vertical integration in the industry and will continue to develop key relationships that are intended to reduce our costs and increase our returns wherever possible. We recognize that effective management is a strategic key to success and we are focusing on creating an infrastructure that will allow us to manage the entire real estate development cycle through using the experience of proven experts. By utilizing joint ventures and partnerships we are able to apply their expertise to our projects without having to incur the expense of acquiring it in-house. We anticipate that this will give us a significant cost advantage and increase the returns for our shareholders."
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.
SOURCE: Empyrean Holdings Inc.
Empyrean Holdings Inc., Houston Robert L. Lee, 713-260-7236 www.epyh.com
NEWS STOCK BUY BACK INCREASED SEE BELOW 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.
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Empyrean Holdings, Inc. Partners With United Construction Group on Proposed $70 Million Orlando Development Monday July 11, 9:45 am ET
HOUSTON--(BUSINESS WIRE)--July 11, 2005--Empyrean Holdings Inc. (OTCBB:EPYH - News), a national real estate holding company announced today that it has partnered with United Construction Group (UCG), a national construction management company, to manage the proposed construction on Empyrean's most recent project in Orlando, Florida. Empyrean is currently designing a large timeshare condominium project for the location and estimates the total project cost to be approximately $70 million. Empyrean and UCG have pre-existing relationships in place for developments in California, Missouri and Wisconsin and management has determined that UCG would be the best candidate to direct construction on its project in Florida as well. So far this year, Empyrean has established a development portfolio totaling $120 million of very high quality real estate developments in four states and is currently moving through the planning and construction stages of these projects.
CEO Robert L. Lee highlighted, "We are growing very rapidly but we have a clear and concise understanding of our goals and a very well-defined path to achieve them. We believe that the experience of our management partners will allow us to manage our risk and expand the assets of our company in a very cost effective manner. UCG management has directed some of the largest construction projects in the country and we appreciate the opportunity to work with them on these absolutely phenomenal developments."
-------------------- If all goes well then great, if not, make it work.
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