Atlanta, Nov. 07, 2022 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX: UCASU) announces today that the company has gone under contract with a buyer for one of its properties, a 72-acre farmland in the metropolitan area of Dallas, Texas, at the final price of $2.05 million. The property is listed for $2.25 million one month ago.
UC Asset acquired the land in October 2016 for approximately $800,000. To this moment, the total cost of UC Asset on this property is $1.35 million. This means that US Asset will book approximately $700,000 of gross profit from this sale.
UC Asset carries no mortgage loan or any other debt against the land, so all sales proceeds, after deduction of small amount of fees and taxes, will become net proceeds to UC Asset.
After the sale, UC Asset will retain the 100 million restricted shares of Puration Inc. which was issued by Puration to UC Asset about one year ago, as a remedy for the default by Puration on a previous deal, under which Puration bought the land with seller financing.
The management of UC Asset confirms that the company is working on another deal which may generate more profits before the end of year.
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
Atlanta, Nov. 07, 2022 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX: UCASU) announces today that the company has gone under contract with a buyer for one of its properties, a 72-acre farmland in the metropolitan area of Dallas, Texas, at the final price of $2.05 million. The property is listed for $2.25 million one month ago.
亚特兰大，2022年11月7日(Global Newswire)-UC Asset LP(OTCQX：UCASU)今天宣布，该公司已与买家签订合同，购买其位于德克萨斯州达拉斯大都市区的一处72英亩农田，最终价格为205万美元。该房产一个月前的挂牌价为225万美元。
UC Asset acquired the land in October 2016 for approximately $800,000. To this moment, the total cost of UC Asset on this property is $1.35 million. This means that US Asset will book approximately $700,000 of gross profit from this sale.
UC Asset于2016年10月以约80万美元收购了这块土地。截至目前，UC Asset在该物业上的总成本为135万美元。这意味着US Asset将从此次出售中获得约70万美元的毛利润。
UC Asset carries no mortgage loan or any other debt against the land, so all sales proceeds, after deduction of small amount of fees and taxes, will become net proceeds to UC Asset.
UC Asset没有抵押贷款或任何其他土地债务，因此所有销售收益在扣除少量费用和税款后，将成为UC Asset的净收益。
After the sale, UC Asset will retain the 100 million restricted shares of Puration Inc. which was issued by Puration to UC Asset about one year ago, as a remedy for the default by Puration on a previous deal, under which Puration bought the land with seller financing.
出售后，UC Asset将保留Puration Inc.大约一年前由Puration向UC Asset发行的1亿股限制性股票，作为对Puration在之前的一笔交易中违约的补救措施，根据该交易，Puration用卖方融资购买了这块土地。
The management of UC Asset confirms that the company is working on another deal which may generate more profits before the end of year.
UC Asset的管理层证实，该公司正在进行另一笔交易，可能会在年底前产生更多利润。
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
