STHG >0017 Stratton Holdings Announces Entry Into Investment Real Estate Arena Market Wire "US Press Releases "
LOS GATOS, CA -- (MARKET WIRE) -- 06/16/09 -- Stratton Holdings, Inc. (PINKSHEETS: STHG) releases the following update on its operations:
Stratton Holdings, Inc. has submitted an offer to purchase a $3.6 million dollar investment property in San Antonio,Texas and intends to add this property to the Company's portfolio. It is our opinion that Investment Real Estate is at bottom and this move will provide Stratton Holdings, Inc. the opportunity to take advantage of the market conditions and to add tangible value to our Company in addition to providing additional cash flow for future projects. While this is simply an offer we do want to keep shareholders updated regarding ongoing events.
San Antonio is the second-largest city in the state of Texas and the seventh largest city in the United States . San Antonio is in the seat of Bexar County with a population of approximately 1,328,984. The entire metropolitan area has approximately 2 million people and is the 28th-largest metropolitan area in the United States . The commercial real estate market hasn't been in the cross hairs of the residential real estate in the past. While, for the past four to five years, the housing market erupted to excessive proportion, commercial real estate did well. However, unlike residential real estate, the commercial market has not been affected by various factors that have plagued the housing market. Herein, the commercial sector has been able escape the residual effects of the housing market excesses that led to the bubble burst in the housing boom. Quite the contrary, as commercial real estate is quite upbeat about future prospects.
Corporate Update:
On June 2nd, 2009 the company announced that the CEO, Mr. Eric Stratton Racheff , was to cancel 100,000,000 shares. This was approved Friday June 12th, 2009 by the Board of Directors. The needed documentation and instructions to the Transfer Agent were sent that same day with instructions to retire the shares to the Company's treasury.
As previously mentioned, the company feels its share structure is not currently ideal and is working diligently to reduce it on a continual basis with its target by the end of 2009 to have the Outstanding Shares down to 150,000,000.
The company plans to accomplish this through many different actions such as buybacks, additional cancellations, issuance of preferred shares to investors for funding rather than commons issued, etc.
Chief Executive Officer Mr. Eric Stratton Racheff states,
"There is no doubt that we have a tricky road ahead of us. There are risks involved on my part as well as shareholders. I want to say thank you to the shareholders who have been supportive and understanding. Things are moving along now and I do feel we are on track to accomplish many great things in 2009. Along with the above offer we have just submitted, we are in serious talks with two private companies and are working towards coming to agreements with them that will add more value to STHG. I look forward to being able to release that information to shareholders."
Safe Harbor Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with the Securities and Exchange Commission .
Contact: Stratton Holdings Inc. Investor Relations info@stratton-holdings.com
