Francis, from thestockjournal.com
This is a press release that came out last Friday on National Rehab Properties, Inc. Our staff at The Stock Journal feel this release may have possibly been overlooked. There are some things in this press release that we feel should be discussed.
1. In this press release, Mr. Richard Astrom states that there have been 14 homes already sold! Not only sold, but the money seems to have been collected already. This is going to show up in the current quarter earnings statement.
2. The new date set by National Rehab for the sb2 filing is August 31, 1999. It's also stated that they plan to apply to a major exchange for listing at that time. This is not something we feel should be overlooked by our subscribers. If all else fails, this alone should move the stock price. We feel it's only a matter of time before this company gets the national attention it deserves. When this happens, it's our opinion that NRPI will no longer be the undervalued company it is today.
3. We would encourage you to go to thestockjournal.com and take a very hard look at the profile on our "Company Of The Year." Once everything becomes finalized within the company, the next step is to produce a press release, and we feel that after that, many people will attempt to chase this company.
The Press Release follows;
NRPI NEWS RELEASE 7-30-99
Friday July 30, 7:59 am Eastern Time
Company Press Release
NRPI Announces Sale of Existing Housing Inventory
MIAMI--(BUSINESS WIRE)--July 30, 1999--National Rehab
Properties, Inc. (OTC BB: NRPI - news) announced today that it has
received a forward commitment from Miami-Dade Neighborhood
Housing Services Inc. Richard Astrom, President and CEO said, ''the
substance of this forward commitment is that MDNHS has in place the
pre approved buyers and their monies for closing for the first 14 houses.
The sales are subject only to building completion.''
The Company owns lots in Miami and is building single family homes
on the lots, which are presold. The Company plans on building 100
similar homes in Miami in the next 12 months and is purchasing lots to
do so.
The Company also announces that it has entered into a partnership with
Encore Builders, Inc. to joint venture the purchase, rehabilitation and sale of existing houses in Miami. The intent of the partnership is to ''rehab'' 25 houses in the next 6 months. NRPI started in the rehab business, and has drifted away from the rebuilding of existing houses.
Richard Astrom explained: ''Now the situation is right to start that
business up again, and we do not feel that the new house construction
and and present projects will be adversely influenced by the additional single family home construction''.
The Company announced that its corporate security attorney has not filed the SB2 due to his recent hospitalization. Richard Astrom, President and CEO said that the attorney is aggressively working on our filing and has given a new target date for filing by August 31, 1999. The completed SB2, with audit will make NRPI a fully reporting company and at that time the company will apply to a national exchange for stock listing.
The Company is developing a 100 lot subdivision in Vero Beach, Florida, "Eagle Trace." The Company is also proceeding with its due diligence and acquisition of an Aluminum window shutter and rail manufacturing company.
The company's temporary web address is http:/www.pagelot.com/nrpi.htm
Richard Astrom, President and CEO stated, "We are looking for
acquisition candidates and land for large residential rental real estate projects, that will increase company revenues and enhance shareholder profitability."
Forward-looking statements in this press release are made pursuant to
the ''safe harbor'' provisions of the Private Securities Litigation reform act of 1995. Investors are cautioned that such forward-looking
statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, competition, completion problems, technological changes and other risks.
--------------------------------------------------------------------------------
Contact:
National Rehab Properties, Inc., Miami
Richard Astrom, President and CEO
Telephone: 305/573-8882
Fax: 305/571-8357
nrpi.com
E-Mail: Realtyrich@aol.com
or
Investor Relations:
PMR and Co
Patrick M. Rost
Telephone: 760/942-0015
E-Mail: PMRandCo@aol.com
Thank you for your time in this matter. If you have any questions about NRPI or any other company we profile, please don't hesitate to drop us a line.
The Stock Journal <<
JOE |
