BYRG NEWS !!!
Buyer Group International Releases Financial Data and Exceeds Expectations
MCKINNEY, Texas, Jul 09, 2008 (BUSINESS WIRE) -- Buyer Group International, Inc (BGI) (Pink Sheets: BYRG) announces midyear earnings on a consolidated basis.
Merger & Acquisition of Buyer Group International subsidiary, MD Caperton Dirt & Paving LLC posted as of 2007 fiscal year (starting in April) had Earnings of $248,050 on Revenues of $468,010. Upon merger and consolidation May 1st 2008, the new fiscal year for Buyer's new subsidiary "MD Caperton Dirt & Paving LLC," an excavation and paving company, realized for BGI before accounting adjustments for fiscal differences quarterly earnings of $37,064 on revenues of $44,600. BGI President David Bryant stated, "Most excavation contracts will occur in the fall and winter giving us a boost to wrap up fiscal year March 31, 2009. This will be adjusted to fill in with the calendar fiscal year for Buyer Group International."
Overall, Buyer Group International has accumulated earnings of $60,089 on revenues $109,360 for the quarter starting April 1, 2008 and ending June 30, 2008, not reconciled for Fiscal Year differences and adjusted for quarterly variations in revenue recognition which may result in minor adjustments upwards or downwards.
BGI Strategic Growth
The excavation business has added equity of $228,631 including hard assets (trucks, equipment, tanks, etc.) of $115,300. Buyer Group International, Inc. conducted three land placements investments receiving $4,674,000 in 10-year 6% preferred dividend subordinate debentures with a five year deferment option. Buyer Group International, Inc. placed contingent warrants at $.03 per share option for equivalent contribution on the placement investments. The resulting 50% profit and equity shares will generate tremendous growth for BGI over the next few years.
These acquisitions and placements of investments brings BGI's total asset base to $5,205,656 and raises contingent liabilities to $2,337,000 including contingencies for placement of warrants against outstanding investments, putting us on track to surpass our growth goal of $4,000,000 positive net equity for the year. The funds raised with the placements will be utilized to develop roads and excavate pad sites over 40 acres that will be used as recreational spots for RV equipment and cabins totaling more than 50 units plus additional development of over 120 units for "pocket community" home sites or cottages. The growth corridor anticipates population of the region to triple in size in the 4 to 5 years. The anticipated development value in today's dollars reflects a future revenue value of $36,000,000 over the next five years not including market appreciation or adjustments for inflation. We anticipate margins of 30-35% given our integrated strategy and vertical costs management.
About: Buyer Group International, Inc. has committed to residential property investment for the average investor. Through strategic partnerships we aim to assist property owners and developers in the turbulent markets by utilizing time-tested techniques to acquire and hold real estate, bring our clients ease of ownership, as well as some of the best wealth building strategies available.
With operations in Texas, New York, and Florida the company offers investors with an international range the prospects of residential property development in the US. By co-venturing with partners in Dubai and the Caribbean, we offer the institutional investor the opportunity to invest in business and real estate that adds value.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.
SOURCE: Buyer Group International, Inc
