For SLReports.net
The hotly debated Blue Diamond Virtual Real Estate Investment Trust (BDVR : ACE) 1:10 stock split took place early this morning, completeing the move that was introduced earlier this month and approved by a shareholder vote.
CEO Hugo Leckrone provided his thoughts on the companies forward guidance a few days ago, stating, "If the rentals are under 35% of occupacy, we are going to be losing money. From that and up is profit. The 35% benchmark level is to have profit in the rental business. That means that we can have rented 60% and make no profit because the rental business is a small size of our sales. My expectations in rental revenues for one month is 15%, in two month 30%. In 3 months I dont know yet. We are using land sales for investment in rentals and also a larger cash position. I dont know when we are going to be able to pay more than L$0.20 per actual share, but I can say I'm thinking of paying a dividend as soon as possible. I hope next quarter total revenues of rentals will represent 30%, and medium parcels 65%. The other 5% advertisement in our rental areas. Our operating capital is private data until next the financial report. In any case the best way I know to have good cash for investment in good oportunities is to mantain low cost and continue selling the land we own."
Leckrone added, "I prefer a set dividend each month. The purpose of the company reconversion is to build a company, not the most profitable in stock markets, but a REIT with something similar to a fixed income. A product where an investor can put his money knowing that he is not going to become quick rich but every month he is going to be payed. Since entering the rental business we are a product driven company."
BDVR(ACE) In The News:
BDVR Split Vote Concludes, Short Selling Now Available, Shareholder Outcry
CEO Hugo Leckrone has been hard at work, some of which has caused minority shareholder concern
View more »
Hugo Leckrone Calls for Important BDVR Shareholder Vote
CEO Proposes 1:10 Share Split
View more »
Blue Diamond Virtual REIT Meets to Discuss New Corporate Direction
New CEO Hugo Leckrone Meets With Shareholders
View more »
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