HUGE NEWS!!!
CARLSBAD, Calif., April 24 /PRNewswire-FirstCall/ -- Palomar Enterprises, Inc. (OTC Bulletin Board: PLMA - News), announces the successful completion of The Company's first scheduled Dividend Distribution to its shareholders. Shareholders of record as of March 8th, 2007 should receive their dividend this week. Palomar Enterprises is determined to build shareholder value through the growth of The Company as well as through distributions of dividends on a regular basis to its loyal shareholders.
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PLMA is on pace to increase revenue from under $1 million in 2006 to an estimated $10 Million in 2007. This growth is being accomplished by the sale of properties acquired, that have been renovated and placed on the market for sale, as well as through the enormous growth of The Company's wholly owned subsidiary, "The Blackhawk Fund". www.blackhawkfund.com
PLMA is actively investing in Foreclosed Residential Real Estate throughout the United States. The Company looks to purchase properties at 30% to 40% below market values, add cosmetic improvements and sell the properties at a profit. Palomar, a real estate and mortgage brokerage firm, has been operating this business model for the past 4 years and is increasing its foreclosure business due to the opportunity being presented by a surplus of financially distressed properties on the market.
