DENVER, Aug. 19, 2005 (PRIMEZONE) -- Across America Real Estate Corp. (OTCBB:AARD) announced its financial results for the second quarter and first six months ended June 30th, 2005. Across America provides 100% financing to increase productivity and profit in the growing niche of small pad retail commercial real estate.
Second Quarter 2005 Review
The Company reported total revenues for the three months ended June 30th, 2005 of $42,651, compared to total revenues of $699,596 for the three months ended Jun 30th, 2004. The revenues for the three months ended June 30th, 2005 represented rental income on our properties.
The second quarter 2005 net loss was $156,995, or $0.01 per share compared to a net profit of $31,191, or $0.00 per share, for the second quarter 2004.
First Half 2005 Review
Total revenues for the Company for the six months ended June 30th, 2005 of $42,651, compared to total revenues of $699,596 for the six months ended June 30th, 2004. The revenues for the six months ended June 30th, 2005 also represented rental income on our properties.
The Company loss for the six months ended June 30th, 2005 was $243,648, or $0.02 per share, compared to a net profit of $8,023, or $0.00 per share, for the six months ended June 30th, 2004.
"AARD is growing into its pipeline," says Alex Lagerborg, President and Chief Executive Officer of AARD. "Although our revenues have been irregular over the short term we continue to fill, grow and administer a pool of single pad small box transactions that we believe will grow the Company and its revenues on a long term basis. We have had to enhance our infrastructure in order to administer and manage those deals, but we believe we are assembling a team that will accommodate our growth with companies such as Lone Star Steak House and Saloon, International House of Pancakes, Checker Auto Parts, Family Dollar, Advance Auto Parts, Grease Monkey International and other small box retailers." Lagerborg continued, "We currently have 15 funded projects which if all close we believe will represent over 25 million dollars in revenue. Even though we have much work to do, we continue to believe that we have hit a sweet spot in the commercial retail market by pursuing the growing small box build to suit development."
About Across America Real Estate Corp.
Based in Denver, Colorado, Across America Real Estate Corp. (OTCBB:AARD) is an investor partner in the small pad retail commercial real estate market. Across America supports retailers and developers with rapid retail expansion through 100% financing of build to suit projects and also providing financing for those transactions where a bank requires developer equity. Please visit our website, www.aard.us