Hawaiian Palisade Homes Adds Over $1 Million in Signed Contracts.Business Editors HONOLULU--(BUSINESS WIRE)--April 23, 2002 Hawaiian Palisade Homes, Inc. ("HIPH") (Pink Sheets:HIPH), a Nevada corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. , is pleased to announce that it has signed 15 contracts to provide homes under the State Department of Hawaiian Home lands ("DHHL DHHL Department of Hawaiian Home Lands ") project. The average price per home is $80,500. There are approximately 5,000 vacant lots on completed DHHL projects which are still vacant because the market price for homes in Hawaii are too high for the typical Native Hawaiian family. The DHHL has enthusiastically embraced HIPH's manufactured home concept as a means of making home ownership an affordable reality for Hawaiian families, as well as helping DHHL meet their goals of providing building lots and affordable homes for tens of thousands of other eligible Hawaiians. There are about 16,000 more lots currently slated for development, with more to come. HIPH has an additional 65 applications pending for the DHHL project. Representatives from HIPH are currently soliciting families on a waiting list for homes under the DHHL project who could afford a home from HIPH. HIPH has a backlog of over $20 million in signed contracts. HIPH was formed to fulfill ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. the rapidly-growing demand for quality affordable housing in Hawaii, particularly for the Native Hawaiian people. Public officials throughout Hawaii have recently placed a very high priority on affordable housing, and HIPH enjoys strong political and community support - from the Governor's office to local organizations. A 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. website for HIPH is located at the companies website http://www.hawaiianpalisades.com Statements in this news release that are not descriptions of historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates" and "likely" also identify forward-looking statements. All forward-looking statements are based on current facts and analysis. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. , anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption disruption /dis·rup·tion/ (dis-rup´shun) a morphologic defect resulting from the extrinsic breakdown of, or interference with, a developmental process. of vital infrastructure and intellectual property rights. All forward-looking statements are made pursuant to the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the Securities and Exchange Commission. For additional information on the Department of Hawaiian Home Lands project visit Http://gov.state.hi.us/initiatives/hawaiian.htm |
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