January 9, 2023 -- InvestorsHub
NewsWire -- via Money
Chats Group -- According to
the company's news release today, it may report over $1 million
gross profit for year 2023.
If so, it represents about $0.20/share
gross profit. And it is almost two-times more than its
highest annual gross profit reported. It also shows a steady
growth of profitability.
The company is listed on OTCQB, and is
currently traded at $1.24/share.
Below is this press release.
(Atlanta, 01/09/2023) UC Asset LP (OTCQB: UCASU)
management announces that the company aims to achieve over $1
million gross profit from its operation in the year of 2023,
representing a 100% growth from its highest gross profit in
UC Asset had been operationally
profitable in previous years, and it had managed to maintain steady
growth of gross profit. According to its filings, the company
reported gross profit of about $491,000 for the fiscal year of
2021, about $103,000 gross profit for the fiscal year of 2020, and
about $42,000 gross profit for the fiscal year of 2019.
Later last year, UC Asset projected to
close two deals which would have generated about $600,000 -
$800,000 gross profits. UC Asset expects to close these two deals
in the first half of 2023.
"With these two deals that we are very
confident to close soon, and with a solid pipeline of deals we are
developing and possibly closing in the second half of 2023, we are
optimistic that our gross profit may break $1 million mark, for the
first time of our operating history," says Greg Bankston, managing
partner of UC Asset. "This will be exciting, given that our annual
gross profit has never reached half million in the previous
Bankston cautions that the company may
not be able to realize these goals, and even if it does, it may not
report similar net income growth due to non-operating costs,
including fees to be paid to its management team.
However, Bankston hints that the
company has a plan to cut back the management team's payment
considerably for the year of 2023, and thus may increase the margin
of net income.
Bankston also indicates that the
company may distribute more dividend to its shareholders, if it
reports higher net income.
Last year, the company completed
distribution to its shareholders a cash dividend of $0.10 per
About UC Asset
UC Asset LP is a limited partnership
formed for the purpose of investing in real estate with innovative
For more information about UC Asset,
please visit: www.ucasset.com
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.
Money Chats Group is an online news delivery service company
focusing on redistribution of public available information about
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redistributes. It is not an investment advisor and any
information it redistributes do not constitute investment advice in
SOURCE: Money Chats