Universal Power Industry Corporation (OTC Pink: UPIN) operates as a diversified holding company that focuses on real estate, consumer/industrial products, technology, and more. Shares of the conglomerate are soaring 220%, through afternoon trading on Thursday, May 17, 2018. Over the past month, Universal Power Industry Corporation has seen average daily volume of 29,130 shares. However, volume of 785,870 shares or dollar volume of $90,375, has already exchanged hands on the day.
Shares of Universal Power Industry Corporation are surging on Thursday after the company announced that it has formed a new subsidiary, UPIN Development Group, Inc., which will oversee real estate development business. The company announced that its first acquisition is a 30-acre parcel of land with the option to acquire additional adjoining 10 acres and a habitable dwelling. Overall, management’s objective to begin developing single-family, entry level homes. Here is the full press release detailing of the new subsidiary:
Universal Power Industry Corporation Press Release:
NEW YORK, May 16, 2018 — Universal Power Industry Corporation (OTC:UPIN) has established UPIN Development Group, Inc. to oversee their real estate development business.
The company’s first acquisition is a 30 acre tract of land with an option to acquire an adjoining additional 10 acre tract that also includes a habitable dwelling.
The company intends to develop a single family entry level home subdivision as previously announced. Updates will be provided of the progress throughout the company’s social media pages Twitter and Facebook, OTCMarkets news and mainstream newswire services.
Further information regarding the company’s business and objectives going forward can be obtained at www.upinholdings.com or by email at email@example.com.
About Universal Power Industry Corporation:
Universal Power Industry Corporation (UPIN) is a diversified holding company that own(s), invests and or manages select businesses and real estate, and on special opportunities will provide financing solutions to companies at various developmental stages. Our business objectives cover a wide range of sectors from consumer/industrial products and technology research and development/startups. We combine capital, innovation and the right management to deliver top of the line products and services to our customers globally.
Statements contained in this release, other than those identifying historical facts, constitute “forward- looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company’s future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward- looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.