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Non-Tech : Under $0.01 (..subpenny..) stocks

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From: ThinkingBig5/9/2005 9:08:58 AM
   of 733
 
Union Equity CEO Meets with Accountants to Draft Audited Financial Statements to Gain Fully-Reporting Status
Monday May 9, 8:49 am ET

PALM BEACH, Fla.--(BUSINESS WIRE)--May 9, 2005--Union Equity Inc. (Pink Sheets:UNQT - News) CEO Michael Anthony met late last week with a representative from the company's accounting firm Bagell, Josephs & Company, LLC to begin preliminary work on audited financials for the company.

Due to its "non-reporting" status, Union Equity is not required to complete audited financials but has elected to do so anyway. The company's upcoming financial statements will reflect activity for the year of 2004. The company plans to continue to complete audited financial statements from this point forward in order to achieve reporting status.

"Outsourcing is the key to our extremely low overhead," said CEO Michael Anthony. "Expenses are nominal at this point and I intend to keep them that way. If you continuously pursue lucrative projects and have almost no overhead, profits present themselves. Our intention is to incorporate a steady revenue stream with capital gains from real estate transactions."
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