Angel Acquisition Corp.
Palomar Enterprises, Inc: Palomar Enterprises Purchases $2,000,000 In Real Estate
Corporate news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
Palomar Enterprises Purchases $2,000,000 In Real Estate
CARLSBAD, CA – July 11, 2006 – Palomar Enterprises, Inc. (OTCBB: PLMA)
announced today it has purchased in excess of $2,000,000 in residential
properties in the first half of 2006. As of today, including recent
acquisitions, the company has approximately $5,000,000 in total assets.
The recently acquired properties were purchased below market value with the
intent to renovate and resell them at higher prices. Palomar Enterprises
employs several licensed real estate agents that opportunistically identify
distressed and undervalued properties. The company has also established
relationships with US Department of Housing and Urban Development (HUD)
agents in various markets having access to foreclosure properties. It is
anticipated that foreclosure properties will be available to Palomar below
market value. Going forward, the company plans to purchase two properties
per quarter for improvement and resale.
About Palomar Enterprises:
Palomar Enterprises, Inc., based in Carlsbad, CA, is a licensed real estate
and mortgage brokerage firm, specializing in southern California coastal
properties. The company derives revenue from commissions earned by agents
on the sale and purchase of real estate, as well as from home loan
originations. With current market conditions, the company is focusing its
resources on the acquisitions of distressed and foreclosure properties. For
more information, please visit www.palomarenterprises.com.
From time to time, the company may issue news releases that contain
‘forward-looking statements’ within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of
1934, and is subject to the safe harbor created by those sections. This
material may contain statements about expected future events and/or
financial results that are forward-looking in nature and subject to risks
and uncertainties. For those statements, the company claims the protection
of the safe harbor for forward-looking statement provisions contained in
the Private Securities Litigation Reform Act of 1995 and any amendments
thereto. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, goals,
assumptions, or future events or performance are not statements of
historical fact and may be ‘forward-looking statements.’ ‘Forward-looking
statements’ are based upon expectations, estimates and projections at the
time the statements are made that involve a number of risks and
uncertainties that could cause actual results or events to differ
materially from those anticipated.
###
Contacts:
Palomar Enterprises, Inc.
Gil Sharell
Investor Relations
(775) 887-0670
contact1@palomarenterprises.com
Contact:
Email: palomargroup@web.de
(c)DGAP 13.07.2006
—————————————————————————
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden