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TheSubway just released this, this morning.
Monday September 20, 4:59 am Eastern Time
Company Press Release
TheSubway.com Announces Investment Opinion on Peacock Financial Corporation
WESTON, Fla.--(BUSINESS WIRE)--Sept. 20, 1999--TheSubway.com Announces Investment Opinion on Peacock Financial Corporation (OTCBB: PFCK - news) increasing target price to .60 per share in the short term.
Financial Corporation (OTCBB: PFCK - news) recently announced that among other investments, PFCK owns 800,000 shares of Solutions Media Inc. The company confirmed with management of Solutions Media that an IPO (Initial Public Offering) is in progress. Solutions Media is an Internet company currently developing its ``SpinRecords.Com' unit. SpinRecords.Com is an online music E-commerce Website similar to MP3.Com (NASDAQ: MPPP - news). Based on the equity stake Peacock owns, Peacock's book value should increase by about $ .40 per share.
The Company also announced that its wholly owned subsidiary, Peacock Development Corp., under a joint-venture agreement with Covenant Development Inc., has broken ground to begin construction of 33 homes in San Jacinto, an agreement worth $4.6 million.
This project is the first phase of a total 76-home project, with a combined gross sales value of $11 million. These building sites are owned by a limited-liability corporation, of which Peacock Development is a 50 percent managing partner. |
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