ATLANTA, May 2, 2025 /PRNewswire/ -- UC Asset Limited Partnership (OTCQB: UCASU) reported $0.02 per share for the fiscal year of 2024, as disclosed in its annual filing published yesterday.
Marketing itself as "the Ultimate Cannabis Asset", UC Asset's operating profit in 2024 mostly came from its cannabis property portfolio. According to its filing, this portfolio generated a 14.4% annualized cash return, or 10.8% over a 9-month period since the portfolio property began generating revenue.
"Based on publicly available information, we believe that our cannabis portfolio ROI was significantly higher than the industry average," contended Larry Wu, founder of UC Asset."For example, Players Club Capital stated in January 2025 that 'Cap rates for (cannabis cultivation) properties typically range from 7-10%' (https://www.playersclub.capital/blog/cannabis-properties-offer-investors-higher-cap-rates). Based on their numbers, our cannabis property portfolio outperformed the industry average by almost 70%."
"We also believe that our ROI is higher than the ROI of similar portfolios held by any other public companies during the year 2024, based on our interpretation of their SEC filings," declared Wu.
According to the company, there are currently only three other SEC-reporting public companies that hold significant positions in cannabis properties.
"As far as we can understand, one of them has a cannabis property portfolio that doesn't perform well. For the other two public companies, both of their cannabis property portfolio produced approximately 11-12% ROI for the year of 2024," said Wu.
However, Wu cautioned that the company may have misinterpreted the filings of other companies, and therefore strongly recommend investors to conduct their own research on this matter.
"Furthermore, even if our portfolio did outperform our peers, there is no assurance that we will continue doing so," added Wu.
According to the renewed lease, the company projects that it will report cash an ROI of 12.1% from its cannabis portfolio for the fiscal year 2025, 14.4% for the fiscal year 2026, and the ROI will increase to 15.1% in 2027 and 15.9% in 2029.
The company has been reporting net profits for most fiscal years since its incorporation. It also reported a net profit of $0.02 per share for the year 2023.
The company has recently announced a plan to launch a secondary public offering (SPO) via Reg A, under which the company will offer up to $10 million in preferred shares carrying a preferred dividend of 8% per annum.
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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SOURCE UC Asset Limited Partnership
