There are only a few brokerages that will short a penny stock for the average investor. Most brokers say they can not do it when it fact they are the ones doing it. I am not preaching the "shorting conspiracy" because our stock was down yesterday. But the short volume was crazy in my opinion because they are playing with fire. And they will get burned.
Prime example of flawless execution by the management at Black Castle today. Have fun.
Black Castle Developments Enters Into Escrow on $1 Million Fresno Property
FRESNO, Calif., June 16, 2011 /PRNewswire via COMTEX/ -- Black Castle Developments, Inc. (Pink Sheets: BDVI) ("BCD"), a real estate acquisition firm focused on purchasing non-performing notes and bank-owned, income-producing commercial properties, today announced that it has entered into escrow to acquire an over 50-unit apartment complex located in Fresno, CA. The Company previously announced it had entered into a letter of intent agreement to purchase the property for $1 million. The terms of the purchase and sale agreement have been agreed upon between BCD and the bank that owns the property and also a $25,000 deposit has been made into the escrow account at Placer Title.
"BCD continues to embark on new commercial and residential acquisitions that can help alleviate and revitalize the troubled real estate market. Our ability to identify properties and negotiate extremely favorable pricing positions us to create a windfall of opportunity for our shareholders. The purchase price of the Fresno complex is $1 million, but the real value is at least double that," said BCD Chief Executive Officer Jeff Holroyd. He goes on to share that, "Our #1 focus with our property acquisitions is income. We anticipate at least a 20% annual rate of return on our $1,000,000 acquisition. Over the past decade, I have personally established business relationships with a plethora of investors, bankers and brokers. I am pleased to say that with the formation of BCD, many of my constituents are now selecting BCD to represent them exclusively. Furthermore, we have an opportunity to close a minimum of 400+ more units with the same profit potential at a 50% discount."
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