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UC Asset Ltd Partnership Units (UCASU) is a real estate investment limited partnership focused on innovative strategies for assets. With a track record of profitability and successful ventures, UCASU recently announced a revenue increase of $2.3 million and a 55% reduction in operational costs for the first half of 2023. The company's commitment to improving profitability has driven significant decreases in management, professional, and general administrative fees. UCASU has also embarked on a stock buyback program to enhance shareholder value. Recent third-party analyst reports have reaffirmed UCASU's potential, with a target price of $4.00 per share, citing its undervaluation in comparison to peers.
UC Asset LP (OTCQX: UCASU) has announced a strategic shift for the upcoming year, prioritizing cash income and profit growth over capital formation. The company plans to pursue a secondary public offering of approximately $10-30 million but no longer aims for an up-list to NYSE or NASDAQ in the near term. The founder noted that the current economic climate does not favor raising large capital amounts. By redirecting managerial resources from capital formation to operational management, the company anticipates improvements in business operations and profit margins, particularly through cannabis property investments.
UC Asset LP (OTCQX: UCASU) announced that dividend checks for shareholders holding tradable shares by the end of 2021 have been processed and will be mailed shortly. Shareholders can expect checks before month-end, with an option to contact the company for any issues. The company reported a $0.12 per share net income for 2021, reflecting a 330% increase year-over-year, and a 73% rise in operating profit. UC Asset is distributing a $0.10 per share cash dividend, reserving the remainder for reinvestment to support growth.
UC Asset LP (OTCQX: UCASU) is targeting cannabis property investments in New York, partnering with licensed local growers and vendors. This shift follows their initial focus on Midwest states like Oklahoma and Colorado. The company plans to build a $50 million portfolio of cannabis properties, capitalizing on New York's recent legalization of cannabis cultivation. Their strategy includes working with a local hemp grower who recently obtained a cultivation license, aiming for both cultivation and retail properties, particularly in New York City.
UC Asset (OTCQX: UCASU) has received a permit from Atlanta to initiate renovations on the historic Rufus Rose House, a Victorian mansion built in 1901. The renovation will begin with electrical repairs, including a temporary power pole installation. The project aims to preserve the building's legacy while catering to the 50-60 million tourists visiting Atlanta annually. The Rufus Rose House is recognized as a historic site, listed on the National Register of Historic Places since 1977. UC Asset seeks to engage the community and enhance Atlanta's cultural significance through this landmark restoration.
UC Asset LP (OTCQX: UCASU) announces a $0.10/share dividend for shareholders holding shares as of December 31, 2021. Following the completion of its 2021 financial audit, the company reports a $0.12 per share net income, reflecting a significant 330% growth year-over-year. This growth is complemented by a 73% increase in operating profit, amounting to $1.41 million. UC Asset plans to invest up to $50 million in high-yield cannabis properties, aiming for 18%-20% annual returns amid ongoing recession predictions, and is pursuing an up-list to NYSE American or NASDAQ Small Cap.
UC Asset (OTCQX: UCASU) has expressed optimism about significant profit growth despite potential recession forecasts. Founder Larry Wu emphasizes a shift from conventional real estate strategies to innovative portfolio management, targeting cannabis and trendy properties. The company exited most residential investments and entered the cannabis sector, projecting annual returns of 18%-20%. With a strong cash position and plans to raise $10-$30 million via a secondary public offering, UC Asset aims to uplist to NYSE American or NASDAQ by mid-2023.
UC Asset LP (OTCQX: UCASU) reports a significant increase in profits for fiscal years 2021 and 2020 after changing its accounting method. The company expects a 73% increase in operating profit for 2021, totaling $1.41 million, and a 330% rise in net income, reaching $671,000. Driven by a strong residential property market, UC Asset shifted its focus to non-residential properties, particularly cannabis, Airbnb, and historic landmarks. The company plans to invest between $10 million to $50 million in cannabis properties, with a $0.10 dividend announced for shareholders.
UC Asset LP (OTCQX: UCASU) announces improved financial results for fiscal years 2020 and 2021 following a shift from fair market value accounting to historical cost accounting. Expected net income for 2021 is $0.12 per share, up from $0.10, and a significant increase in 2020's profit to $0.021 per share, a tenfold rise. Management respects SEC guidelines in changing accounting methods, aiming for a clearer financial perspective. The firm plans a $0.10 dividend for shareholders and potential up-listing to NYSE American or NASDAQ, alongside a $10-30 million secondary offering.
UC Asset LP (OTCQX: UCASU) announced a switch from fair market value accounting to historical cost accounting, which may lead to improved profit results for fiscal years 2020 and 2021. Previously, profits were reported close to zero for 2020, with a projected operating profit of $0.10 per share for 2021. The SEC’s rejection of the company’s investment accounting basis prompted this change. UC Asset anticipates reporting higher profits due to significant property sales during these years. Additionally, a dividend of $0.10 per share is planned if net income exceeds projections.
UC Asset LP (OTCQX: UCASU) is launching a program to form partnerships with licensed cannabis growers to expand its portfolio, projected to reach $50 million. The company has signed three letters of intent totaling $2.2 million in investments and aims to grow its portfolio significantly. By acquiring properties and providing capital to growers, UC Asset hopes to ease their financial burdens and enable them to focus on cultivation. Additionally, the company plans to file Form S-1 for a secondary public offering and pursue an uplist to NYSE American or NASDAQ small cap.
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