posted
excellent time to get in before the deadline
June 27, 2005 08:38:01 (ET)
PALM BEACH, Fla., Jun 27, 2005 (BUSINESS WIRE) -- Union Equity, Inc.'s (Pink Sheets:UNQT) management will meet with a specialty law firm in the coming weeks to address all legal aspects of creating a national franchise program for their wholly owned subsidiary Home Sales Express, Inc.
Home Sales Express, Inc. is a comprehensive resource for homeowners who want to participate as buyers or sellers in the For-Sale-By-Owner (FSBO) market. In addition, through its website KingOffer.com, Home Sales Express is designed to attract owners of distressed properties that are not yet listed on the open market for outright purchase consideration by the company.
"Once the legal aspects of the franchise program are covered we're ready and able to provide a turnkey opportunity for individuals nationwide who want to work our business model in a specific territory," said Union Equity CEO Michael Anthony. "Americans are entrepreneurial by nature and we intend to offer them the chance to be their own boss in the real estate business. Through KingOffer.com we will provide brand name recognition, a ready-made website and comprehensive marketing support."
In addition, Union Equity, Inc. is currently revising its capital structure, addressing both the authorized and outstanding shares of the company's common stock.
On June 22, 2005 the company approved a shareholder dividend in the form of common stock of Preferred Properties Real Estate, Inc., a wholly owned subsidiary and private company.
Shareholders will receive one share of Preferred Properties Real Estate, Inc. for every ten shares of Union Equity common stock owned. Odd lots will be rounded up.
The record date to receive the dividend is July 1, 2005. The additional shares of Preferred Properties Real Estate Inc. will be mailed to shareholders on July 8, 2005, which is also the payment date.
The shares shall be mailed without any action on behalf of the shareholders.
Shareholders and other interested parties who have not done so already are encouraged to sign up for Union Equity's electronic newsletters at http://www.UNQT.com and the latest real estate news at http://www.KingOffer.com.
About Union Equity
Union Equity is a national real estate development and holding company. The company operates independently and through its wholly-owned subsidiaries Eden Development Group and Home Sales Express and plans to grow aggressively over the next two to three years through acquisitions, mergers, internal growth and the development of a dynamic internet presence.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004 and is the nation's ninth most expensive housing market. Las Vegas has been the fastest-growing city in the United States for nearly 20 years and is one of the top housing markets in the country. Home prices in Las Vegas increased by nearly 50 percent in the past year.
-------------------- pink floyds "money" is the way to live.......
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PALM BEACH, Fla.--(BUSINESS WIRE)--June 28, 2005-- Union Equity, Inc. (Pink Sheets:UNQT) has reduced the company's authorized common stock by 50%, from 20 billion shares to 10 billion shares. Simultaneously, the company has retired four billion shares of outstanding common stock held by management. The four billion shares of outstanding common stock have been returned to the company's transfer agent and cancelled. On June 22, 2005 the company approved a shareholder dividend in the form of common stock of Preferred Properties Real Estate, Inc., a wholly owned subsidiary and private company. Shareholders will receive one share of Preferred Properties Real Estate, Inc. for every ten shares of Union Equity common stock owned. Odd lots will be rounded up. The record date to receive the dividend is July 1, 2005. The additional shares of Preferred Properties Real Estate Inc. will be mailed to shareholders on July 8, 2005, which is also the payment date. The shares shall be mailed without any action on behalf of the shareholders. Shareholders and other interested parties who have not done so already are encouraged to sign up for Union Equity's electronic newsletters at http://www.UNQT.com and the latest real estate news at http://www.KingOffer.com.
About Union Equity
Union Equity is a national real estate development and holding company. The company operates independently and through its wholly-owned subsidiaries Eden Development Group and Home Sales Express and plans to grow aggressively over the next two to three years through acquisitions, mergers, internal growth and the development of a dynamic internet presence.
About the Industry
Florida ranked fifth nationally in housing appreciation in 2004 and is the nation's ninth most expensive housing market. Las Vegas has been the fastest-growing city in the United States for nearly 20 years and is one of the top housing markets in the country. Home prices in Las Vegas increased by nearly 50 percent in the past year.
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. In addition, any forecasts made by the company, whether short-term or long-term, regarding future profitability are based on hypothetical business models and do not constitute a guarantee of profitability. Investors are highly advised to seek professional advice and conduct a complete due diligence regarding this, or any other company being considered for investment purposes. Investing in securities, particularly in issues priced at less than $1 per share, involves substantial risk and may result in a partial or complete loss of investment capital. Investors who initiate such an investment strategy should possess the financial net worth to withstand such a loss. Union Equity, Inc., its subsidiaries, officers and employees cannot guarantee the completeness or accuracy of the information contained in company press releases. Press releases issued by the company should not be interpreted as an offer to sell or a solicitation to buy company stock.
Further information on the company can be found on their website; http://www.UNQT.com.
KEYWORD: NORTH AMERICA FLORIDA UNITED STATES INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE SOURCE: Union Equity, Inc.
Union Equity to Analyze NOBO/OBO List to Identify True Shareholders and Dividend Recipients of Preferred Properties Real Estate, Inc.
June 28, 2005 08:28:01 (ET)
PALM BEACH, Fla., Jun 28, 2005 (BUSINESS WIRE) -- Union Equity, Inc. (Pink Sheets:UNQT) has requested a NOBO/OBO list from their corporate services vendor to determine the company's actual shareholders in order to accurately award the upcoming dividend in Preferred Properties Real Estate, Inc.
The term NOBO refers to Non-Objecting Beneficial Owners; meaning beneficial owners (shareholders) who do not object to disclosure of their name, address and security holding. The term OBO refers to Objecting Beneficial Owners; meaning beneficial owners who refuse to reveal their identities. As a unit, the NOBO/OBO list comprises the total of true stock ownership, including the "street name" investor group.
"We're about to take a careful inventory of what's going on out there in the marketplace," said Union Equity CEO Michael Anthony. "Synthetic positions will become obvious. We're striving for complete transparency in regards to how our stock is traded."
Union Equity, Inc. will request another NOBO/OBO list on July 1st and then again on July 8, 2005. The company will then conduct a final analysis.
On June 22, 2005 the company approved a shareholder dividend in the form of common stock of Preferred Properties Real Estate, Inc., a wholly owned subsidiary and private company.
Shareholders will receive one share of Preferred Properties Real Estate, Inc. for every ten shares of Union Equity common stock owned. Odd lots will be rounded up.
The record date to receive the dividend is July 1, 2005. The additional shares of Preferred Properties Real Estate Inc. will be mailed to shareholders on July 8, 2005, which is also the payment date.
The shares shall be mailed without any action on behalf of the shareholders.
Shareholders and other interested parties who have not done so already are encouraged to sign up for Union Equity's electronic newsletters at http://www.UNQT.com and the latest real estate news at http://www.KingOffer.com.
-------------------- pink floyds "money" is the way to live.......
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posted
Didn't run today, with more than half of the float. Maybe naked shorters are looking for a backdoor. Even don't know the pps of Preferred Properties Real Estate Inc., and if those shares will be traded in public. Who knows the answer?
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posted
okay I got filled @ 3 and I hope that we make some profit next week ... acutlly I just bought because of the volume only but for me I don't see any reasons for it to get high...
kptmoe
what are your reasons for the target .0015-16
-------------------- Dreams are not goals if you don't take an action
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posted
you dont just retire that many shares and no effect on the pps==i just think that the pps is really about 3-4x--this volume was the shorts getting out--remember these were naked shares being traded by these scum
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posted
it is private==there is nothing assigned to it until the company(preferred properties real estate) goes public==you can always sell your private shares back to the company for what ever they offer you for them, but that probably isnt a good idea right now
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posted
Thanks. I appreciate your dd on that. Seems odd.
UNQT is full of many many mysteries right now. They seem to be doing everything wrong in many areas, like PR, yet the CEO locks his shares for a year. The only thing I can figure is that HE )the CEO) knew that share price would suffer in the short term, but would suddenly rebound and go up. Why the heck else do you lock tons of shares at a high price?
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