Beacon Redevelopment Industrial Corp (BCND)

[JustJack]

For those that have been here as long as I have.

In 2012, Hempfield Township brought an action against Beacon Pennsylvania Holdings Inc. to demolish the glass factory. This action occurred before its own political committee with no neutral adjudicators. The Township obtained an Order before its own tribunal, consisting of its own representatives, to require the Company to demolish the structure in a manner that would not provide sufficient time for the Company to recycle or reclaim the bricks. Beacon Pennsylvania appealed the Order to the Court of Common Pleas of Westmoreland County, Pennsylvania, because of various procedural and factual errors that occurred during the proceeding. Hempfield Township never submitted the record on appeal for the case to move forward. In the event that the record on appeal is ever filed, and the Court does not agree with the contentions of Beacon Pennsylvania Holdings, the development would constitute a material event. Beacon Redevelopment, which intends to resume the recycling project in mid-2022, believes that allowing Beacon Pennsylvania Holdings Inc. to complete the program in a manner that allows for the recycling of the antique bricks on the property will benefit the community and the Company. Beacon Pennsylvania requires the revenue earned from recycling the bricks in order to clean the property. No firm will finance the project if unreasonable time limits are placed on the Company that interfere with the recycling process. Beacon Pennsylvania believes that, through effective communications, disputes can be resolved.