NEW ORLEANS, March 27, 2013 /PRNewswire/ -- Orpheum
Property, Inc. (OTCQB: PLFF), a company specializing in the
purchase, development, and management of commercial properties,
today announced the acquisition of Coscina Brothers Coffee Company,
LLC.
Orpheum Property, Inc.'s CEO, Morris
Kahn, is pleased to announce the re-acquisition of
Honolulu based Coscina Brothers
Coffee Company, LLC (CBCC). In June
2010, CBCC had been sold to a former director of the company
who jointly worked with the CBCC's management in order to
reorganize its focus and operations. These efforts have led
to increased profitability and sales growth.
CBCC offers private labeling services on custom coffee roasts
and pancake mixes for its customers. These customers include
many Hawaii based retailers,
hotels and restaurants. CBCC also boasts a large distribution
chain in Japan, South Korea, Vietnam, Taiwan, Cambodia and Thailand. CBCC is looking
to add a third product line within the next two months, once
additional product tests have concluded. CBCC's third product
line is highly anticipated by distributors.
Tyrus C. Young, CFO and Director
of Orpheum, and a former part owner of CBCC, reported, "Gross Sales
have grown from $569,509 in 2011, to
$792,728 in 2012. For the first
two months of 2013 Gross Sales have been $160,560 and are anticipated to surpass
$1,000,000 in 2013. Net Income
on those sales were $58,410 for 2011,
$120,050 for 2012, and $32,743 for the two months ended February 28, 2013. We are projecting Net
Income for 2013 in excess of $160,000."
Mr. Young stated, "The addition of CBCC brings a more
operational mix into Orpheum, to complement the real estate
holdings the Company currently has, including the Orpheum Theater,
a New Orleans commercial building,
and several undeveloped properties in California, Nevada, Oklahoma and Arkansas. In addition to
the purchase of CBCC, the Company is reviewing other product based
entities that can take advantage of the distribution network built
throughout the Pacific Rim."
In addition, Mr. Young stated, "Plans are in motion to
officially change the name of our company from Orpheum Property,
Inc. to Axiom Global Properties in order to more appropriately
identify with our more diverse business model. This news of
the acquisition of CBCC is the first of many exciting developments
that will be coming from this early stage public company."
About Orpheum Property, Inc.
Orpheum Property, Inc.
("Orpheum"), dba AXIOM Global Properties (www.axiomgp.com)
specializes in the purchase, development, and management of
commercial properties. Orpheum leverages property
acquisitions through stock/equity sales, private investment and
limited loans commitments. The company will leverage its
experience in real estate, finance, and accounting to execute its
business plan. Orpheum will benefit from a limited overhead
and in its initial stages the company can run with minimal capital
outflow. Concentration will be to purchase income-producing
properties with good existing management and favorable occupancy
rates.
Orpheum's mission is to purchase and develop quality commercial
properties for both income producing opportunities and for resale,
thereby providing investment growth for our shareholders and
investors.
Forward-Looking Statements:
Statements herein express
management's beliefs and expectations regarding future performance
and are forward-looking and involve risks and uncertainties,
including, but not limited to, raising working capital and securing
other financing; responding to competition and other risks.
These risks are detailed in the Company's filings with the
Securities and Exchange Commission, including Forms 10-KSB, 10-QSB
and 8-K. Actual results may differ materially from such
forward-looking statements.
Contact:
Investor Relations
Tel: 504-754-6926
Fax: 504-324-0844
SOURCE Orpheum Property, Inc.
