Profitable Developments, Inc. (OTC Pink: PRDL) (PINKSHEETS: PRDL), a Property Development Company, announced today, that they have signed a contract to acquire three separate properties in Pennsylvania. The company expects to receive a commitment for financing these properties within the next week.
Carl Grant, President of Profitable Developments, has been working closely with DREA Partners to purchase distressed properties. "These first three properties represent the beginning of many upcoming acquisitions, they mark the beginning of our strategy to re-invigorate our business plan. We are actively working to identify the best distressed assets that we can purchase for a fraction of their value and sell for a significant ROI, this is a very exciting time for all involved." Said Carl Grant.
Mayer Fulda, Principal of DREA Partners commented "I am pleased to have assisted with the acquisition of the first three distressed asset purchases. I look forward to working with Carl and the rest of the team at Profitable Developments, Inc. to help acquire, finance and sell many distressed properties over the coming months."
About Profitable Developments, Inc.
Profitable Developments, Inc. is Property Development Company listed on the OTC markets as a Current Information Company. Specializing in key locations globally in both underpriced land as well as in Property, the Company has an aggressive strategy to capitalize on the rising prices of Real Estate.
This press release may contain forward-looking statements, including information about management's view of Profitable Developments, Inc.'s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Profitable Developments, its subsidiaries and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on Profitable Developments' future results. The forward-looking statements included in this press release are made only as of the date hereof. Profitable Developments cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Profitable Developments undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Profitable Developments.
Profitable Developments, Inc.
SOURCE: Profitable Developments, Inc.