Advanced Lighting Solutions, Inc. Announces Additional Bulk REO Offers Made to the Company
August 13 2010 - 11:10AM
Marketwired
Advanced Lighting Solutions, Inc. (PINKSHEETS: AVLS) is pleased to
announce two large investment opportunities presented to the
company by private bulk REO property merchants, status of possible
property sale, and disclosed company share structure.
Tuesday of this week Advanced Lighting Solutions was contacted
by Crystal Hardison, a representative from a Michigan bank as well
as the active agent for a few homes in the offer, asking for
permission to present the company with a bulk REO offer. "The offer
was for 17 properties located in a few states including Michigan,
Ohio, and South Carolina. Due to the fact of the offer being a bulk
REO package, the properties' discounted prices range from 2,500
dollars to 85,000 dollars. Inclusively, the total asking price for
the 17 properties was 193,800 dollars, with the estimated Market
value at 997,462 dollars. We are very excited to begin the Due
Diligence on the deal, and explore investment options from there.
As our investors know, the company is very opt to jump at an 80%
discount opportunity, and will present a POF to the concerning bank
by the end of this week."
"The company has begun negotiating a multi-deal consisting of a
31 property REO investment opportunity in Kansas City, MO. The
advantages of this particular agreement are endless, as there is no
bottom bid for the buyout, and no offers have been made to this
point. If the company continues to show interest in the deal, our
offer of $666,531 will be negotiated down to $580,000, which can
easily see a return of $800,000. The company does not have the
funding to pursue every option encountered and is not straying from
our current negotiations with the MacGregor CDC, but at the end of
the day the most important thing is the biggest return for the
invested principal, whatever that may be, we have decisions to
make," Mr. Matthews continues.
We want to update shareholders on our Goldsmith Manor property
(listing price is $995,000). One of the two interested parties is
rethinking its investment approach while the second party
interested has placed an offer to Advanced Lightings strongly
indicating a possible purchase and close by the end of August. The
company will continue to market this home and hope that they can
find additional persons of interest in the coming weeks if the
current offer isn't accepted.
Additionally, the Company has acquired a current DTCC Security
Position Report last week showing 3,069,648 shares in the public
float. After a meeting held on Monday of last week, Advanced
Lighting Solutions' board of directors has voted and confirmed not
to raise the authorized amount of shares in its domicile. The
current DTCC report can be found on the company's website located
at http://advancedlightingsolutions.biz
Please continue to keep Admin Officer James Morgan in your
thoughts and prayers this week as he will be out of office and in
the hospital to undergo emergency surgery scheduled for mid week.
He will return to his office when ready, but the main concern for
the company is that he gets the rest he needs to continue being the
great asset that he is.
We anxiously await the release of more company updates in the
coming days pertaining to very important current events happening
with the company and our associates.
About Advanced Lighting Solutions
Advanced Lighting Solutions, Inc. is a corporation domiciled in
the state of Wyoming, capitalized by our 140 and growing investors.
A collective of Houston's finest Contractors, Builders, and Real
Estate Experts united to make the smartest investment decisions
possible. Conjoining developing with higher end properties and
Complete construction with strategic lower income development
properties to secure worthwhile returns for investors across the
board. We aspire to take the largest possible advantage of the poor
state of the real estate market through foreclosures, REOs, and
short sales, Advanced Lighting Solutions will become the largest
company of its kind in its center of business, Houston, Texas.
Additionally, Advanced Lighting Solutions, Inc.'s ongoing concern
is to provide a team of experts in the areas of green and energy
efficient technology for both residential and commercial use.
Intuitively merging green ideas into development properties. To
create jobs, as well as build and provide safe, affordable, energy
efficient residential and commercial investments for the public.
Create and maintain substantial returns for our investors and our
company.
Safe Harbor Statement
The information posted in this release may contain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. You can identify these
statements by use of the words "may," "will," "should," "plans,"
"explores," "expects," "anticipates," "continue," "estimate,"
"project," "intend," and similar expressions. Forward-looking
statements involve risks and uncertainties that could cause actual
results to differ materially from those projected or anticipated.
These risks and uncertainties include, but are not limited to,
general economic and business conditions, effects of continued
geopolitical unrest and regional conflicts, competition, changes in
technology and methods of marketing, delays in completing various
engineering and manufacturing programs, changes in customer order
patterns, changes in product mix, continued success in
technological advances and delivering technological innovations,
shortages in components, production delays due to performance
quality issues with outsourced components, and various other
factors beyond the Company's control.
Company Contact: Aaron Matthews CEO Advanced Lighting Solutions,
Inc. Email Contact
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