This pr is unheard of in pennyland........Beacon Redevelopment Industrial Corporation Confirms No Need of Funding Through the Sale of its Equities
NORTH HUNTINGDON, Pa., Aug 18 /PRNewswire-FirstCall/ -- Beacon Redevelopment Industrial Corporation (OTC:BCND) today announced it has received several inquiries from its shareholders regarding the sale of equities to fund the company's recent acquisitions and the company has elected to elaborate.
The company receives no less than three to four unsolicited offers a week to finance its operations (from major investors and investment bankers) with certain instruments such as convertible debentures, regulation 504 exemptions and other detrimental financing options, executive management always and continually will reject these unfavorable methods of financing for any and all of its financing needs.
The company will continue to rely on traditional methods of financing i.e. bank financing, owner financing or company funds, as it is the company's belief that if their acquisitions can not stand on their own merits and utilize traditional sources of financing in any market conditions, it is not a project that they should get involved with.
The company's recent three acquisitions (Westmoreland Glass factory and Multiple Parcels of land totaling 259.5 acres) have been funded through a combination of seller financing and cash investments by the company's principles. The investments by the company's principles are interest free and secured by restricted stock for two years.
"The company will not and never will under any circumstances submit to any type of death spiral financing; it is the intent of our company to build a viable and profitable company on the merits of its acquisitions/projects," said Mr. Adam Merek, President.
Mr. Marek also added that, "The principles are seasoned real estate investors/developers and builders, not stock salesman. When management took over this public company they reviewed the entire history and decided that we can increase shareholder value even though it was a calculated risk regarding the past management and its history. The principle's advisors recommended a reverse split and all of the principles agreed if we have to hurt the shareholders we have no interest and will never have that interest. The principles all agreed that regardless of past management we will deal with it and restore shareholder value with a real and viable business. We evaluated it and decided to go with it and chose a course of action. We feel good about where we are at this point and more importantly we have only begun to enhance shareholder value. To date we have at least regained a sustained bid and are bringing real assets and real hope of potential returns for shareholders investments, with much more to come."
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