UCASU confirms the listing of Dallas land for $2.25 million
72-acre land in the metropolitan area of Dallas, Texas.
UCASU confirms the listing of Dallas land for $2.25 million
72-acre land in the metropolitan area of Dallas, Texas.
Atlanta, Oct. 07, 2022 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX: UCASU) announced today that the company has listed for sale a piece of property, a 72-acre land in the metropolitan area of Dallas, Texas. The property is listed for $2.25 million.
UC Asset acquired the land in October 2016 for approximately $800,000. In October 2020, UC Asset sold the land to Dallas local company Puration Inc. and entered into a partnership with Puration to co-develop the land into a medical plant cultivation project.
Over the past years, Puration had paid UC Asset $350,000 in cash and 100 million restricted shares which had a market value of $860,000 at the time of issuance (currently has a market value of $350,000). Yet Puration still owed UC Asset approximately $1.10 million dollars.
Last month, UC Asset purchased back the property at $1.35 million, out of which $1.10 million was offset by the debt Puration owing to UC Asset. UC Asset will keep the 100 million restricted shares.
"The total revenue we expected to receive from the partnership with Puration was more than $2.25 million," explained Larry Wu, founder of UC Asset. "Had the partnership with Puration progressed as planned, we would have received the full payment from Puration, and the restricted shares might be worth more because Puration would become a more successful business. It could have been a very lucrative joint venture for both of us."
"Unfortunately, due to factors that were not directly related to our partnership and were beyond our control, such as the new capital market situation that had made it much harder to raise capital, we had to take a step back," said Wu. "We are happy that we reached an agreement with Puration to purchase the land back."
Despite that UC Asset has given up the potentially more lucrative partnership with Puration, it may still make remarkable profit from this 72-acre land. Using a total cost of approximately $900,000, the listed price of $2.25 million represents 250% value increase, which equals to 25% annual return.
UC Asset carries no mortgage loan or any other debt against the land, which means all sales proceeds, after deduction of small amount of fees and taxes, will become net proceeds to UC Asset.
According to UC Asset's realtor agent, it has already received inquiries from several potential buyers in the first few days of listing.
A link to the listing can be found as below:
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit:
Disclaimer:
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
For More Information Contact: IR@UCasset.com
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- UCASU confirms the listing of Dallas land for $2.25 million
- UCASU confirms the listing of Dallas land for $2.25 million
UCASU confirms the listing of Dallas land for $2.25 million
72-acre land in the metropolitan area of Dallas, Texas.
UCASU confirms the listing of Dallas land for $2.25 million
72-acre land in the metropolitan area of Dallas, Texas.
Atlanta, Oct. 07, 2022 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX: UCASU) announced today that the company has listed for sale a piece of property, a 72-acre land in the metropolitan area of Dallas, Texas. The property is listed for $2.25 million.
亚特兰大，2022年10月7日(Global Newswire)--UC Asset LP(OTCQX：UCASU)今天宣布，该公司已将德克萨斯州达拉斯大都市区的一块72英亩土地挂牌出售。这处房产的挂牌价为225万美元。
UC Asset acquired the land in October 2016 for approximately $800,000. In October 2020, UC Asset sold the land to Dallas local company Puration Inc. and entered into a partnership with Puration to co-develop the land into a medical plant cultivation project.
UC Asset于2016年10月以约80万美元收购了这块土地。2020年10月，UC Asset将该土地出售给达拉斯当地公司Puration Inc.，并与Puration建立了合作伙伴关系，共同开发该土地为一个药用植物种植项目。
Over the past years, Puration had paid UC Asset $350,000 in cash and 100 million restricted shares which had a market value of $860,000 at the time of issuance (currently has a market value of $350,000). Yet Puration still owed UC Asset approximately $1.10 million dollars.
在过去几年中，Puration向UC Asset支付了350,000美元的现金和1亿股限制性股票，这些股票在发行时的市值为860,000美元(目前的市值为350,000美元)。然而，Puration仍欠UC Asset约110万美元。
Last month, UC Asset purchased back the property at $1.35 million, out of which $1.10 million was offset by the debt Puration owing to UC Asset. UC Asset will keep the 100 million restricted shares.
上个月，UC Asset以135万美元回购了该物业，其中110万美元被UC Asset的债务清偿所抵消。UC Asset将保留1亿股限制性股票。
"The total revenue we expected to receive from the partnership with Puration was more than $2.25 million," explained Larry Wu, founder of UC Asset. "Had the partnership with Puration progressed as planned, we would have received the full payment from Puration, and the restricted shares might be worth more because Puration would become a more successful business. It could have been a very lucrative joint venture for both of us."
UC Asset创始人拉里·吴(Larry Wu)解释说：“我们预计与Puration的合作将带来超过225万美元的总收入。”如果与Puration的合作按计划进行，我们就会收到Purtion的全额付款，限售股可能会更值钱，因为Puration将成为一项更成功的业务。对我们两人来说，这可能是一家非常有利可图的合资企业。
"Unfortunately, due to factors that were not directly related to our partnership and were beyond our control, such as the new capital market situation that had made it much harder to raise capital, we had to take a step back," said Wu. "We are happy that we reached an agreement with Puration to purchase the land back."
“不幸的是，由于一些与我们的合作关系没有直接关系、超出我们控制范围的因素，比如新的资本市场形势使得融资变得更加困难，我们不得不后退一步，”吴说。“我们很高兴与Purpose达成了回购土地的协议。”
Despite that UC Asset has given up the potentially more lucrative partnership with Puration, it may still make remarkable profit from this 72-acre land. Using a total cost of approximately $900,000, the listed price of $2.25 million represents 250% value increase, which equals to 25% annual return.
尽管UC Asset已经放弃了与Puration潜在的更有利可图的合作伙伴关系，但它仍可能从这块72英亩的土地上获得可观的利润。以总成本约90万美元计算，225万美元的挂牌价相当于250%的价值增长，相当于25%的年回报率。
UC Asset carries no mortgage loan or any other debt against the land, which means all sales proceeds, after deduction of small amount of fees and taxes, will become net proceeds to UC Asset.
UC Asset不承担土地抵押贷款或任何其他债务，这意味着所有销售收益，在扣除少量费用和税收后，将成为UC Asset的净收益。
According to UC Asset's realtor agent, it has already received inquiries from several potential buyers in the first few days of listing.
据UC Asset的房地产经纪人表示，在上市的头几天里，它已经收到了几个潜在买家的询问。
A link to the listing can be found as below:
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit:
UC Asset LP是一家有限合伙企业，旨在以创新战略投资房地产，集中在佐治亚州亚特兰大的大都市地区。有关UC Asset的更多信息，请访问：
This News Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause our actual results, performance or achievements, or industry results, to differ materially from any these statements. You are cautioned not to place undue reliance on any those forward-looking statements. Except as otherwise required by the federal securities laws, we undertake no obligation to publicly update or revise any forward-looking statements after the date of this news release. None of such forward-looking statements should be regarded as a representation by us or any other person that the objectives and plans set forth in this News Release will be achieved or be executed.
本新闻稿包含符合1995年私人证券诉讼改革法的前瞻性陈述。这些前瞻性陈述涉及已知和未知的风险、不确定性和其他重要因素，这些风险、不确定性和其他重要因素可能导致我们的实际结果、业绩或成就或行业结果与这些陈述大相径庭。告诫您不要过度依赖任何这些前瞻性陈述。除非联邦证券法另有要求，否则我们没有义务在本新闻稿发布之日后公开更新或修改任何前瞻性陈述。任何此类前瞻性陈述都不应被我们或任何其他人视为本新闻稿中规定的目标和计划将会实现或执行的陈述。
For More Information Contact: IR@UCasset.com
- UCASU confirms the listing of Dallas land for $2.25 million
- UCASU confirms the listing of Dallas land for $2.25 million
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- UCASU确认以225万美元上市达拉斯土地
