UCASU will report better profits than previous projection

April 5, 2022 -- InvestorsHub NewsWire -- via MoneyChatsGroup --

UC Asset LP (OTCQX: UCASU) management announces that the company may report better profit results for both its fiscal years of 2021 and 2020, after the Company switched its accounting method from fair market value accounting to historical cost accounting.

Previously, UCASU reported close to zero profit for fiscal year 2020, and it projected a $0.10 per share operating profit ($0.13 per share net equity gain including the gains from buybacks) for fiscal year 2021. And then, UCASU is advsied by SEC to change its accouting method from fair market value to historical cost.

According to the management of UCASU, the accouting method change will result in UCASU reporting more profits, for both the year 2021 and 2020.

Full text of UC Asset’s news release can be found at:
UCASU may report more profits for both 2021 and 2020 upon changing accounting (yahoo.com)

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SOURCE: MoneyChatsGroup

UC Asset Limited Partner... (QB) (USOTC:UCASU)
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