DFLR Intends to Sell Its Real Estate Holdings in Utah; Mining Operations to Become Primary Focus.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Diversified Financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment Resources Corp. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : DFLR DFLR Democratic Forces for the Liberation of Rwanda ) ("DFLR") announced today that it intends to sell its real estate holdings in Utah. Specifically those that are presently held by the following subsidiaries: Diversified Holdings XIX; Wichita Development Corp.; and Salt Lake City Development Corp. On Feb. 8, DFLR executed a Purchase and Sale Agreement with Global Links Corp. (OTCBB: GLKCE) that included the sale of the company's real estate holdings to Global Links, including: (1) 15,000-square-foot three-story office building; (5) one-, two- and three-bedroom condos; (1) duplex home with three bedrooms per unit; (2) residential houses -- the first a five-bedroom and the second a three-bedroom. The closing date is set for Feb. 28, 2005. According to John Chapman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of DFLR, "Changing DFLR's focus is key to our success. It is important for DFLR to move from a broad-based holdings company, with numerous subsidiaries in real estate to a company with a more narrowed focus. Consequently, DFLR intends to abandon its plans to operate a healthcare division and other prospective businesses as outlined on its Web site. The plan is to focus primarily on our mining operations. However, DFLR will continue to review opportunities in agriculture, transportation and equipment leasing. The latter may involve an investment in leasing of gaming equipment (i.e., slot machines, video poker slots, etc.) to licensed operators abroad and here in the United States. The sale of DLFR's real estate divisions should enable DFLR to focus upon its mining operations which hopefully will allow management to reduce expenses and in time increase revenues which should result in profitability." According to Chapman, DFLR's gold and silver mining and milling operation in Chihuahua, Mexico, is now operating between 60% and 70% percent capacity. The initial shipment of gold and silver concentrate is still tentatively scheduled to go to market sometime in the next two weeks. An update on that shipment will be forthcoming. The formal acquisition of the mine is expected to occur within the next 90 days. About Diversified Financial Resources Corp. DFLR is currently a holding company with operations in real estate and mining. Investors are strongly encouraged not to make an investment that they cannot afford to lose. Furthermore, DFLR does not recommend that any shareholder take any action solely based upon the information provided above. DFLR strongly encourages the public to read the above information in conjunction with its Form 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. for Dec. 31, 2003, and 10QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound for March, June and Sept. 30, 2004. These disclosures can be viewed at www.sec.gov, via navigating to the company's EDGAR Edgar or Eadgar (both: ĕd`gər), 943?–975, king of the English (959–75), son of Edmund, king of Wessex. In 957 the Mercians and Northumbrians rebelled against Edgar's brother Edwy and chose Edgar as their king. filings. DFLR's Web site can be viewed at www.dfrc.net. This press release may contain forward-looking statements that are based on a number of assumptions, including the successful completion of the necessary due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. in a short period of time. Although DFLR believes these assumptions are reasonable, no assurance can be given that they will prove correct. These forward-looking statements involve a number of risks and uncertainties, including competitive market conditions, successful integration of acquisitions, and the ability to secure sufficient financing due to such risks and uncertainties. |
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