UCASU Projects $0.10-0.15 Per Share
Net Profit for 2021
Atlanta, GA -- December 8, 2021 --
InvestorsHub NewsWire -- UC Asset LP (OTCQX:
UCASU) management team announces that the company is
projected to report a net profit between $0.10-0.15 per share for
the year of 2021.
"There are still three weeks before
we close 2021, so anything could happen, but at this moment, we
believe we will end the year strong with a decent return on our
investments," says Greg Bankston, managing partner of UC Asset.
Bankston also reconfirmed the
company's plan to distribute a minimum of $0.10 per share cash
dividend to its shareholders. Any shareholders who hold UC Asset
common shares by the end of the year will be eligible to receive
the dividend.
Last month, UC Asset filed its 10Q
for the third quarter of 2021, reporting a $0.171 gain of its net
equity per share pre-dilution ($0.165 per share fully diluted),
over the 12-month period from September 30, 2020 to September 30,
2021. However, Bankston cautions that the annual net gain may be
less than the year-over-year net gain by the end of Q3.
"Our portfolio valuation has a
seasonal cycle due to the nature of our portfolio as well as to our
accounting practice," explains Larry Wu, founder of UC Asset. "The
book value of our properties are appraised annually by the end of
year, which usually shows an increase of our portfolio value when
the market prices are rising. However, this year we have been
holding more cash than last year, as we believe that there will be
better opportunities to invest in the coming months. But larger
portions of cash means that at the end of year, our portfolio value
will increase by less percentage."
The Q3 report still reflects the
portfolio appraisal results from the end of last year, and
therefore may show a larger 12-month increase. Considering this and
other small adjustments, management now believes the company's 2021
net gain per share will fall into the range between $0.10 to
$0.15.
Wu remains committed to his optimistic projection for the next
year, which he voiced at the 2021 annual shareholder's meeting. "We
announced three new investment strategies, namely, canabis
properties, Airbnb properties and historic landmarks. In the coming
year, I believe that at least one of them, maybe all three, will
explode into fast growth; and we will likely see great numbers
coming back in 2022, probably much better than this 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: www.ucasset.com
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:
Christal Jordan | Executive Director,
UC Asset LP
cjordan@ucasset.com |
678-499-0297