Business
Profitable Developments Announces Sale of First Property
Profitable Developments Announces Sale of First Property.
About this update from Profitable Developments, Inc.
[{"type":"text","content":"Profitable Developments announces sale of first property.\n\n\n\nNew York, N.Y. – August 25, 2014 – Profitable\nDevelopments, Inc. (OTC Pink: PRDL), announced today, that they have sold the\nfirst residential property in their portfolio at a gain of over 100%. The\ncompany entered into contract, in June, to acquire two residential properties\nand one commercial property in a distressed asset acquisition.\n\nWe have completed the sale of the first residential\nproperty and recorded a gain of over 100% on the sale. The remaining\nresidential and commercial properties have already received several bids each\nfor significantly higher than the contract price. We intend to sell the\nremaining two properties prior to closing, which allows us to save significant\nclosing costs through the assignment of the contracts or simultaneous closings.\n\n“The recent return of over 2 Billion shares by\nmanagement, means this will have an even greater impact on our shareholder\nvalue” commented Carl Grant, President of Profitable Developments, and further\nsaid \"We are really excited to begin working with a group of investors who\nare committed to funding our real estate investments” Mr. Grant also noted\n\"This first step is a long awaited and crucial step in increasing\nshareholder value through acquisition of distressed properties at a steep\ndiscount and selling them for large percentage gains. We are already\nnegotiating to buy larger groups of properties and hope to be in contract for\nmore properties shortly.”\n\n \n\nAbout Profitable Developments, Inc.\n\nProfitable Developments, Inc. is\nProperty Development Company listed on the OTC markets as a Current Information\nCompany. Specializing in key locations globally in both underpriced land as\nwell as in Property, the Company has an aggressive strategy to capitalize on\nthe rising prices of Real Estate.\n\n \n\nForward-Looking\nStatements\n\nThis\npress release may contain forward-looking statements, including information\nabout management's view of Profitable Developments, Inc.’s future expectations,\nplans and prospects. In particular, when used in the preceding discussion, the\nwords \"believes,\" \"expects,\" \"intends,\"\n\"plans,\" \"anticipates,\" or \"may,\" and similar\nconditional expressions are intended to identify forward-looking statements.\nAny statements mad...