Beacon Redevelopment Industrial Corporation (BCND)

[realstocksarentpinks]

"Over the last two years, because of inappropriate draining from catch basins owned and operated by the Commonwealth of Pennsylvania on the state road above the property, certain parts of the land have been
eroded. This also impedes the ability of the Company to access the
property during rainy seasons. We have placed a claim with the
Commonwealth of Pennsylvania Department of Transportation and the
Attorney General of Pennsylvania. If this situation is not rectified,
the Company will be forced to take legal action against the Commowealth.
Presently, there is a property tax lien on the factory in an amount
exceeding $40,000.
The County of Westmoreland, Pennsylvania, initiated proceedings to sell the property at a judicial sale. The Company entered into discussions with the County and believe that the matter will be resolved prior to the end of 2014. Specifically, we have entered into an agreement for a finance company to loan us the money to pay the taxes in exchange for a mortgage on the property."