Business
PARAGONX HOLDINGS SUBSIDIARY SINACORI BUILDERS CLOSED ON $3.5 MILLION LAND SALE AND ANNOUNCES MAJOR INCREASE IN NET INCOME IN 2022
PARAGONX HOLDINGS SUBSIDIARY SINACORI BUILDERS CLOSED ON $3.5 MILLION LAND SALE AND ANNOUNCES MAJOR INCREASE IN NET INCOME IN 2022.
About this update from Cavu Resources Inc.
[{"type":"text","content":"Charlotte, NC – Paragon X Holdings announced it closed on a major $3.5 Million land sale to American Homes for Rent. “We expected to close on this and another $11 Million of land deals in the last quarter of 2022, we are thrilled to announce we successfully close on this transaction here in the first quarter of 2023. Had this and the other land deals closed in the fourth quarter of last year as expected, we would have hit our projected $20 Million revenue mark. Given the impact of high interest rates and a slowing housing market – I’m thrilled we attained $12 Million of revenue and cut our 2021 losses nearly in half as we continue to invest heavily in our long-term growth plan. More exciting is the renewed interest we are seeing in our land positions,” said Russ Sinacori, Chairman of the Board at ParagonX Holdings. ParagonX Holdings releases its 2022 earnings with revenue of almost $12 Million. “The real estate market was tough last year, especially in the fourth quarter. Our strategy of diversifying revenue and making acquisitions in healthcare, real estate, and logistics paid off. Forty-one (41%) of our revenue came from sources other than Sinacori Builders, and yet we still cut our losses nearly in half over the previous year. Our growth plan included investing heavily in audits, diligence, integration, and building the foundation to up-list,” Kevin V. Cox, Chief Executive Officer commented when asked about the 2022 financial release. Grant Edwards, Chief Financial Officer stated, “We remain in growth mode and 2023 is off to a fantastic start. We expect to reach full profitability in 2023 provided we close on the acquisitions currently under Letter of Intent.” The company anticipates making several additional announcements in the coming weeks. PARAGONX HOLDINGS (f.k.a. LiveToBeHappy, inc and f.k.a CAVU Resources, Inc.) is a cross platform holding company with To learn more, visit www.paragonxholdings.com. SINACORI BUILDERSSinacori Builders, a ParagonXHoldings company, is a technology-driven real estate company. This wholly owned subsidiary has a strong foothold in Charlotte, North Carolina, and is expanding its footprint throughout the Southeast. The Company plans on growing its brand and enhancing shareholder value by leveraging its connections with the country's ...