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Empyrean Holdings Inc. Initiates $500,000 Stock Buy Back Plan Jun 15, 2005 9:45:00 AM Copyright Business Wire 2005 HOUSTON--(BUSINESS WIRE)--June 15, 2005--
Empyrean Holdings Inc. (OTCBB:EPYH), a national real estate holding firm, has authorized the repurchase of up to $500,000 of the firm's outstanding stock. Over the next several months, Empyrean will carry out these purchases either on the open market or through private transactions.
Management believes that the firm's shares of outstanding common stock represent an excellent, and undervalued, investment and it would be prudent for the company to return these shares to treasury at this time.
CEO Robert L. Lee confirmed, "After conducting a close analysis, we have come to the conclusion that our current share price does not accurately reflect the value of the company. The market value of our real estate holdings significantly exceeds the market capitalization of the company. As a result, we believe it would be irresponsible if we did not buy back stock at this time. In fact, we would be foolish not to."
Depending on market conditions and other factors, these purchases may be commenced or suspended at any time without prior notice. The shares of common stock are being purchased to return the shares to treasury for corporate purposes and to improve the company's financial position. In the meantime, Empyrean's real estate analysts will continue to evaluate and acquire promising high return investment properties in the hottest markets throughout the country.
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.
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The HOD so far is .0073 and I was looking at the chart and HOD on 6/6/05 was .0073 as well. Looks like we have a little resistance at that level.
MM's are shaking the tree at the moment.
The chart is looking bullish. RSI is moving over 50 and a MACD crossover should happen soon.
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Empyrean Holdings Inc. to Invest $5 Million in Commercial/Retail Properties in Wisconsin Jun 16, 2005 9:45:00 AM Copyright Business Wire 2005 HOUSTON--(BUSINESS WIRE)--June 16, 2005--
Empyrean Holdings Inc. (OTCBB:EPYH), a national real estate holding firm, plans to invest $5 million in a new commercial real estate development project in Kewaskum, Wisconsin through its affiliation with United Construction Group. The Kewaskum area is the most rapidly expanding community in Wisconsin and is one of the most significant development areas in the state. United Construction Group is undertaking $50 million of commercial, retail, and residential construction in the area and it is anticipated that Empyrean will be the only outside investment firm to be involved with the project.
CEO Robert L. Lee provided, "Our partner is planning to develop a beautiful village-style retail center in the middle of Kewaskum, complete with a hotel, restaurants, professional office space, and several breathtaking lakes which will be converted into ice skating rinks in the winter. This is an incredible investment opportunity for our firm, and we expect to see double-digit returns during the first three years of the center's operation. We have been the only outside firm asked to participate and we would like to thank UCG for this opportunity."
The development is located along a recently completed four-lane highway which has brought an immense amount of new traffic to the area. Kewaskum is nestled within one of the most beautiful locations in Wisconsin and attracts a significant amount of tourism each year while offering a high standard of living for the rapidly-growing population of local residents.
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Empyrean Holdings Inc. Increases Stock Buy Back Plan to $1 Million Jun 24, 2005 9:30:00 AM Copyright Business Wire 2005 HOUSTON--(BUSINESS WIRE)--June 24, 2005--
Empyrean Holdings Inc. (OTCBB:EPYH), 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.
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It was posted that our Market Cap is just 8.5 million at this time. I posted that our prs indicate 18 million invested in different properties with great growth potential already. There is also a pr that indicates approximately 40 million will be sought after for this type of investment by company and yet another pr stating revenue goals of 40 million for this year.
Our Market Cap is close to a 3rd of our investments to date. I say our pps is a 3rd of what it should be also. This puts us in the range of .10, MY TARGET for EPYH.
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robert lee filed form 4 stating disposed of 500,000 shares, i thought there was a buy back in progress, confused,did he sell to the company? will they be retired? or did he just need a quick 10 grand!
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