FRESNO, Calif., March 8, 2011 /PRNewswire/ -- Black Castle Developments, Inc. (Pink Sheets: BDVID), a company involved in the purchase of non-performing notes and bank-owned, income-producing commercial real estate, announced today that it is working with its SEC counsel to bring the Company to the "Current Information Status" on the Pink Sheets OTC Markets (www.otcmarkets.com). The Company is in the process of filing its financial statements and other required disclosure information, which should be completed in the next five business days.
According to Pink OTC Markets, in 2009, the average dollar volume per security with "Current Information Status" was $81,259,055 compared to $745,812, with "No Information." Jeff Holroyd, CEO stated, "Moving into Current Information status has the benefit of creating greater transparency and liquidity for our stock. This process demonstrates our commitment to provide full public disclosure that can also increase shareholder value."
About Black Castle Developments, Inc.
Black Castle Developments, Inc. is focused on the direct acquisition of non-performing notes (NPNs) and the development, operation and management of income-producing commercial and residential distressed properties. The Company was founded by executives with over 20 years of experience in commercial real estate finance, origination, negotiation, and transaction execution. Profiling hundreds of NPNs daily in the $1 trillion U.S. loan marketplace, Black Castle Development's financial deal makers are capitalizing on the unprecedented and opportunistic U.S. real estate market. For more information, visit www.blackcastledevelopments.com.
Statements contained in this news 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.
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SOURCE Black Castle Developments, Inc.