DENVER, July 28, 2005 (PRIMEZONE) -- Across America Real Estate Development (OTCBB:AARD) held its Annual Shareholders Meeting on July 19th, 2005. Across America President and Chief Executive Officer Alex Lagerborg chaired the meeting, which began at 10:00 a.m., Mountain Time in the Penthouse Suite at 8400 East Prentice Ave, Greenwood Village, Colorado. At the meeting 93.9% of the outstanding shares were represented in person or by proxy.
Preliminary Voting Results 2005 Across America Annual Shareholders Meeting:
-- Alexander V. Lagerborg, Charles J. Berling, Eric Balzer, and
Daniel J. Wilhelm were elected to the Board of Directors, each to
hold office until the 2006 annual meeting and until his successor
is elected and qualified.
-- Vote was passed to change corporate name from Across America Real
Estate Development to Across America Real Estate Corp. Despite the
name change, the trading symbol, AARD.OB, will remain the same.
-- Order was ratified for Cordovano & Honeck, LLP, CPA's as auditors
for fiscal year ending December 31st, 2005.
In the shareholders meeting Across America expressed their excitement surrounding accomplishments in 2004 with a positive outlook on the future. President and Chief Executive Officer Alex Lagerborg said, "We are very proud of reaching profitability in 2004 while adding an executive infrastructure that positions the Company for long-term growth. Mr. Lagerborg expressed gratification over the two transactions that were sold and closed in 2004, while discussing a bigger year with fifteen projects currently invested and in progress for 2005. "We believe we have the opportunity to enjoy significant growth in the single pad small box real estate market. The Company is not only seeing an increase in the volume of transactions in the pipeline but we are also seeing an increase in deal size as well. We are encouraged with the vitality of this swiftly growing market sector," said Mr. Lagerborg.
During a Q&A session with the shareholders the question was raised how long the process would take to sell and close the fifteen invested deals that are currently in the pipeline. Mr. Lagerborg disclosed that it is the goal of the Company to see that these current projects would be sold and closed in the remainder of 2005 and the first half of 2006.
About Across America Real Estate Corp.
Based in Denver, Colorado, Across America Real Estate Corp. (OTCBB:AARD) is a national, publicly traded company that is an investor partner to real estate developers focusing on 100% financing of build to suit projects and also providing financing for those transactions where a bank requires developer equity. For more information visit our website www.aard.us