REAC .0001 news:
Real Estate Contacts Inc. Updates Announcement
Parrish, FL -- December 9, 2014 -- InvestorsHub NewsWire - (REAC) We would like to announce some updates with regards to our company and our real estate websites.
As per our last 10Q we stated that in "September our real estate video and marketing websites were improperly shut down by the website hosting service. We are currently pursuing legal action to recover the files and get the websites back up and running." The company has decided not to recover the files from the previous programmer and web designer. We have decided that the files are completely destroyed and are no use to the company anymore. As of this press release the company still has intentions to pursue legal action to recover money that was paid for these websites and services that the company currently does not have. The company trusted the previous web designer who hosted the websites which turned out to be a critical mistake on our part. The company has decided to re design our main website www.realestatecontacts.com and host the website and all future websites on a hosting platform that the company will maintain and pay for accordingly. So the company will be in complete control of all hosting services and the new websites so this never happens again.
The problem with the previous website programmer who hosted all of our previous websites has created a terrible situation for us because we paid so much money to have these websites up and running. Most of all we were prepared to bring in advertising revenue dollars this last quarter of 2015 from the over 1000 agents we had on the website www.realestatecontacts.com.
The new re-design of our website will be the focal point of renewed marketing efforts by our company for the real estate professionals that will be featured on the new website. Our goal will remain the same by being a lead generator partner for real estate professionals. Our business model will include the opportunity for a real estate agent, broker or office to be profiled as the "exclusive agent" in the area and cities that they work in. The new website will provide current listings of the agents that are on our website along with other functions.
With regards to the companies current stock price, the company is very disappointed. Robert DeAngelis states: "I had no idea that the funders who helped our company grow would be so aggresive to actually bring the companies stock price down to a no bid". "However I am proud to mentioned that the company did NOT take in any notes or funding from these types of investors in this year of 2015. The company has actually not received any funding from these investors since last September 2014. Do to the fact that the stock price goes to a no bid because of them, these funders can not convert their shares to get their investment back. The company has plans to pay back these note holders next year from our advertising revenue dollars and/or find a non toxic investor that would help with that situation.
As the CEO I can only blame my self for the current situation that we are in, however I plan to turn the company completely around in 2016. The company has not and will never pay for pump and dump investor relations schemes.
We look forward to 2016 and sharing our ever business plans with you in the weeks and months ahead. I appreciate your patience and continue support of Real Estate Contacts, Inc.
Contact:
Robert DeAngelis
President & CEO
724-656-8886
contact@realestatecontacts.com
SOURCE: Real Estate Contacts, Inc.
