CLARKSDALE, Miss., Dec. 8, 2005 (PRIMEZONE) -- Superior Development Group, Inc., (Pink Sheets:SDVG), a Mississippi-based provider of affordable housing, announced today that the Company has begun the process of interviewing SEC qualified legal and accounting firms in preparation of the Company filing a Form 10-SB with the SEC to become a fully reporting public company under the provisions of Section 12(g) of the Securities and Exchange Act of 1934, as amended and or the filing of Form 211 along with its audited financial statements with NASD to be listed on the OTCBB.
The hiring of a qualified SEC legal and accounting firm is a significant step for Superior Development Group, Inc., stated Derrick D. Neal, President and CEO of the Company. "This is the first step of many to create corporate transparency and understanding for our shareholders. This will also provide a vehicle for our investors to access financial and operational information about the Company that will be available to the public on a regular reporting basis."
Mr. Neal went on to state, "Superior Development Group, Inc. is involved in several lucrative real estate developments and is headed in the right direction to increase its profitability and we want to share this information with investors on a more timely basis and it is our expectation that this move will enhance our corporate image and broaden investor awareness. In the meantime, the Company will continue to communicate to shareholders and investors via its website, and press releases concerning the Company activities."
About Superior Development Group Inc.
Superior Development Group, Inc. is a publicly traded multi-faceted real estate development, construction-operative builder and sales company. The Company's development efforts are focused in four major areas of the housing market; development of affordable lease to purchase single family residential development, development of affordable multifamily rental housing, acquisition, development of raw land for subdivision development and the acquisition and rehabilitation of existing multi-family and commercial properties. The Company offers a wide variety of creative and effective solutions in the affordable housing market.
Additional information about Superior Development Group, Inc. is available online at www.superiordevelopmentgroup.com.
Safe Harbor
This press release contains or may contain forward-looking statements such as statements regarding the Company's growth and profitability, growth strategy, liquidity and access to public markets, operating expense reduction and trends in the industry in which the Company operates. The forward-looking statements contained in this press release are also subject to other risks and uncertainties, including those more fully described in the Company's public filings. The Company assumes no obligation to update these forward-looking statements to reflect actual results, changes in risks, uncertainties or assumptions underlying or affecting such statements, or for prospective events that may have a retroactive effect.