UCASU Projects $0.10-0.15 Per Share Net Profit for 2021

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Dec 08, 2021, 12:41 ET

ATLANTA, Dec. 8, 2021 /PRNewswire/ -- UC Asset LP (OTCQX: UCASU) management team announces that the company is projected to report a net profit between $0.10-0.15 per share for the year of 2021.

"There are still three weeks before we close 2021, so anything could happen, but at this moment, we believe we will end the year strong with a decent return on our investments," says Greg Bankston, managing partner of UC Asset.

Bankston also reconfirmed the company's plan to distribute a minimum of $0.10 per share cash dividend to its shareholders. Any shareholders who hold UC Asset common shares by the end of the year will be eligible to receive the dividend.

Last month, UC Asset filed its 10Q for the third quarter of 2021, reporting a $0.171 gain of its net equity per share pre-dilution ($0.165 per share fully diluted), over the 12-month period from September 30, 2020 to September 30, 2021. However, Bankston cautions that the annual net gain may be less than the year-over-year net gain by the end of Q3.

"Our portfolio valuation has a seasonal cycle due to the nature of our portfolio as well as to our accounting practice," explains Larry Wu, founder of UC Asset. "The book value of our properties are appraised annually by the end of year, which usually shows an increase of our portfolio value when the market prices are rising. However, this year we have been holding more cash than last year, as we believe that there will be better opportunities to invest in the coming months. But larger portions of cash means that at the end of year, our portfolio value will increase by less percentage."

The Q3 report still reflects the portfolio appraisal results from the end of last year, and therefore may show a larger 12-month increase. Considering this and other small adjustments, management now believes the company's 2021 net gain per share will fall into the range between $0.10 to $0.15.

Wu remains committed to his optimistic projection for the next year, which he voiced at the 2021 annual shareholder's meeting. "We announced three new investment strategies, namely, canabis properties, Airbnb properties and historic landmarks. In the coming year, I believe that at least one of them, maybe all three, will explode into fast growth; and we will likely see great numbers coming back in 2022, probably much better than this year. "

About UC Asset LP

UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. 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.

For More Information Contact:

Christal Jordan | Executive Director, UC Asset LP

[email protected] | 678-499-0297

SOURCE UC Asset LP