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Palomar Enterprises Conservatively Estimates Revenues At or Above $7.5 Million for 2007 CARLSBAD, Calif., Jan. 29 /PRNewswire-FirstCall/ -- Palomar Enterprises, (OTC Bulletin Board: PLMA) today announced that the Company expects to generate revenues at or above $7.5M for 2007. This represents growth of 1,400% from 2006 levels. Gross profits are expected to come in at $1.5M.
'Our tremendous growth is being fueled by our real estate businesses that exists within Palomar Enterprises as well as our wholly-owned subsidiary, The Blackhawk Fund (OTC Bulletin Board: BHWF). We expect this kind of growth to increase significantly over the next 3 to 5 years,' commented Brent Fouch, CFO of Palomar Enterprises.
The Blackhawk Fund, (OTC Bulletin Board: BHWF) now has a number of real estate projects in the works, and, being that Blackhawk is a wholly-owned subsidiary of Palomar, revenues that Blackhawk generates will add to Palomar's bottom line. The partnership of Maximum Impact Television Group (www.maximpacttv.com), will add additional revenue streams, which could exceed $5M to Blackhawk, which will also apply to Palomar Enterprises.
'Our plans of growth through a variety of businesses in Blackhawk will reflect very positively on Palomar's bottom line over the next few years. The dividends of Blackhawk stock paid to Palomar Enterprises' shareholders will add even more shareholder value for those that own Palomar's stock. We will expand the dividend program as we spin businesses out of Blackhawk out into their own publicly traded entities. Again, all of these dividends will be paid to Palomar's shareholders,' said Brent Fouch, CFO of Palomar Enterprises.
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