ATLANTA, July 28, 2023 /PRNewswire/ -- UC Asset LP (OTCQB: UCASU) management announces today that the company is expect to report a net profit of approximately $0.06 per share for the first half of the year 2023.
"This projection by management is based on unaudited financial results," cautioned Jason Armstrong, manager of UC Asset. "Investors should not place their due reliance on this number. However, at this moment, we don't see any reason for audited results to be substantially different."
Mr. Armstrong also confirmed that the company has several deals going on, and probably will be profitable for the second half of the year as well.
"Our goal is to achieve more than $0.10 per share net profit for the whole year," avowed Armstrong. "Particularly, our portfolio in cannabis properties will start to generate income. As far as we know, we are one of the only four SEC-reporting public companies which invest in cannabis properties. This means that we are investing in a niche with less competition, and probably will produce higher investment return."
UC Asset had reported profits in previous years, including the year of 2020 and 2021. In the year 2021, it reported $0.13 per share net gain of assets, and distributed $0.10 per share dividend. However, the company suffered a loss in 2022, mostly due to loss of investments on the stock market.
In April 2023, independent stock research firm, Litchfield Hills Research LLC, released its initial analysis report on UC Asset LP (OTCQB: UCASU), which rates UCASU as "Buy", and sets its target price at $4.00 per share, using its model of discounted future earnings.
As of the end of the most recent trading day, UCASU's shares were closed at $1.00 per share.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies. 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.
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UC Asset LP
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SOURCE UC Asset LP
