Corporate Management Solutions, Inc. (fka YDGE)

[PENNIEStoSTACKS]

FIGURE THIS OUT AND YOU WILL KNOW WHAT IS GOING ON HERE

Atlantic First is owned by Residential Income Properties Inc., incorporated in New York.

An investment being made by Residential Income Properties — the $35 million purchase of a property in Poinciana, Fla., south of Orlando — is expected to generate the capital needed to renovate the Holbrooke, O'Brien said.

In an earlier interview with The Union, Hudson said that investment was expected to generate $105 million per year over three years, as 175 already improved lots are built for housing and sold. From that income, he expected to channel $400,000 to $500,000 into renovations at the Grass Valley hotel, to be completed by 2012, Hudson said.

The Florida deal includes a stock-for-stock exchange and is pending approval from the Securities and Exchange Commission, Hudson said.

http://www.theunion.com/article/20090825/NEWS/908249976