Largo Vista Group, Ltd. Announces Operations Update.NEWPORT BEACH Newport Beach, residential and resort city (1990 pop. 66,643), Orange co., S Calif., on Newport Bay and the Pacific Ocean; inc. 1906. It is a popular seaside resort and yachting center. Manufactures include electrical and medical equipment, computers, boats, and adhesives. , Calif. -- Largo Largo, town (1990 pop. 65,674), Pinellas co., W Fla., on the Pinellas peninsula and the Gulf Coast, across the bay from Tampa; settled 1853, inc. 1905. It is a packing, canning, and shipping center in a citrus fruit and fishing area. Vista Group, Ltd. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :LGOV) is a small utility company based in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. which is focused on providing environmentally friendly Environmentally friendly, also referred to as nature friendly, is a term used to refer to goods and services considered to inflict minimal harm on the environment.[1] energy resources to China. Its core business consists of providing Liquefied Petroleum Gas liquefied petroleum gas or LPG, mixture of gases, chiefly propane and butane, produced commercially from petroleum and stored under pressure to keep it in a liquid state. (LPG LPG: see liquefied petroleum gas. 1. LPG - Linguaggio Procedure Grafiche (Italian for "Graphical Procedures Language"). dott. Gabriele Selmi. Roughly a cross between Fortran and APL, with graphical-oriented extensions and several peculiarities. ) service to the residents in the City of Zunyi, Guizhou Province. Older residential complexes and restaurants use bottled LPG (15 kg or 50 kg sizes) provided by the Company's LPG Bottle Exchange Shops. Largo Vista's pipeline network provides LPG service for cooking and water heating Water heating is a thermodynamic process using an energy source to heat water above its initial temperature. Typical domestic uses of hot water are for cooking, cleaning, bathing, and space heating. In industry both hot water and water heated to steam have many uses. to newly constructed residential projects. Since 2002, Largo Vista has either completed, has under contract, or is in negotiations involving 9 different residential projects. These projects range in size from the 1,023 units which was completed in October 2002 to smaller projects involving private developers. To date, a total of 2,707 new residences have been provided LPG services by the company. Of these, 1,214 units are now occupied. The company expects to provide LPG services to more than 450 additional units by mid 2007. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Chief Financial Officer Denise Deng, "The company has made strong in roads in establishing itself as a reliable and stable source for LPG services to area households and businesses." All of the completed housing units have been purchased but the slow rate at which the new owners are moving in poses a challenge to the company with regard to expanding its LPG operations in the Zunyi community. "The main challenge facing Largo Vista's expansion as a major supplier of residential LPG services has been the slow rate of occupancy of the residences already built. Although the company enjoys an exclusive 40-year contract to supply all these homes with LPG, the occupancy rate Noun 1. occupancy rate - the percentage of all rental units (as in hotels) are occupied or rented at a given time pct, per centum, percent, percentage - a proportion in relation to a whole (which is usually the amount per hundred) needs to accelerate so the company can generate the necessary capital to undertake even more projects," according to Ms Deng. "We anticipate reaching a point in 2007 where Largo Vista will be able to move forward even more aggressively to secure contracts for new construction LPG services," Ms. Deng stated. Since being named Company Chief Financial Officer in October 2006, Ms. Deng has implemented a variety of cost saving measures which she expects will significantly help bring the company to profitability in the near future. In addition to its LPG operations, Largo Vista has been aggressively pursuing other business opportunities through the efforts of its Chairman Shan Deng. Mr. Deng's efforts include working on projects with both international and China-based businesses to benefit all parties concerned. "Although the providing of LPG services to newly constructed housing remains our core business, I remain confident Largo Vista will, in time, be able to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. its operations and become a successful multi-faceted enterprise," Mr. Deng stated. For pictures and more information go to www.Largovista.com. Largo Vista makes written and oral statements from time to time regarding its business and prospects, such as projections of future performance, statements of management's plans and objectives, forecasts of market trends, and other matters that 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. within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Statements containing the words or phrases "will likely result," "are expected to," "will continue," "is anticipated," "estimates," "projects," "believes," "expects," "anticipates," "intends," "target," "goal," "plans," "objective," "should" or similar expressions identify forward-looking statements, which may appear in documents, reports, filings with the Securities and Exchange Commission, news releases, written or oral presentations made by officers or other representatives made by Largo Vista to analysts, stockholders, investors, news organizations and others, and discussions with management and other representatives of Largo Vista. Largo Vista's future results, including results related to forward-looking statements, involve a number of risks and uncertainties. No assurance can be given that the results reflected in any forward-looking statements will be achieved. Any forward-looking statement made by or on behalf of Largo Vista speaks only as of the date on which such statement is made. Largo Vista's forward-looking statements are based upon assumptions that are sometimes based upon estimates, data, communications and other information from suppliers, government agencies and other sources that may be subject to revision. Except as required by law, Largo Vista does not undertake any obligation to update or keep current either (i) any forward-looking statement to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or arising after the date of such statement, or (ii) the important factors that could cause Largo Vista's future results to differ materially from historical results or trends, results anticipated or planned by Largo Vista, or which are reflected from time to time in any forward-looking statement which may be made by or on behalf of Largo Vista. |
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