REAC Group, Inc. (OTC Pink: REAC) is engaged as a real estate technology and marketing company. Shares of the real estate platform operator jumped 50% on Wednesday, June 6, 2018. Over the past month, REAC Group, Inc. has seen average daily volume of 17.66 million shares. However, volume of 112.25 million shares or dollar volume of $67,350, had exchanged hands on the day.
Shares of REAC Group, Inc. climbed 50% on Wednesday, after the company released a comprehensive shareholder update. Management announced that it is now a fully audited and SEC reporting company. The company announced that as of June 4, 2018, the convertible note of $53,000 with Power Up Lending Group, Ltd., has been paid in full. The shares held in reserve for the note have been cancelled. The company is focused on developing joint ventures and acquisitions to expand further into the real estate industry. Here is the full press release detailing of the shareholder update:
REAC Group, Inc. Press Release:
PITTSBURGH, PA, June 06, 2018 (GLOBE NEWSWIRE) — REAC Group, Inc. (OTC PINK: REAC) is providing this business update concerning our corporate progress and status.
We are an SEC Reporting and U.S. Reporting fully audited company. We are proud to be a fully reporting company for the past 7 years. This speaks volumes of the company’s desire to remain an SEC full reporting company. Our filings separate our company from the many non-reporting companies that are on the OTC. We have this year filed our annual 10K and 10Q that discloses our information to the public.
With this press release we want to give our updated corporate status. REAC Group, Inc. (REAC) engages in the ownership of a real estate website, (www.realestatecontacts.com). The website provides an advertising and marketing platform for real estate professionals and real estate service providers. We now have over 300 cities that have the profiles of real estate agents or offices that are featured exclusively that have links to show their current listings. On each city profile page there are advertising banners that will consist of other real estate service providers. We have not received any advertising revenues as of this press release; however our intentions are to proceed with our website business model and anticipate advertising revenues in the near future.
We want to mention current information regarding our convertible notes. As of June 4, 2018 the convertible note of $53,000 with Power Up Lending Group LTD has been paid in full and the shares in reserve with respect to the note have been cancelled. Another convertible note with an accredited investor has been terminated and cancelled and shares in reserve have also been cancelled. Our goal and intentions are to retire the existing convertible debt with other possible various forms of new non-toxic financing. So the timeline on reducing and eliminating more debt is not yet finalized.
The Company intends to bring additional value to its shareholders with the possibilities to Acquire, Joint Venture or Partner with other real estate related businesses and to hopefully to bring in assets into the company such as real estate assets along with revenues. We are interested in looking into acquiring real estate multifamily apartments once we attain financing for these real estate projects.
We will continue to introduce our operational progress and other corporate actions that will include our business model and plan of growth.
Safe Harbor Statement
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are identified by the use of the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “may,” “continue,” “predict,” “potential,” “project” and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results to differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company’s filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
