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Source: The BlackHawk Fund
The BlackHawk Fund Expected to Report Record Revenues and Profits for First and Second Quarter
Thursday January 18, 10:52 am ET
BlackHawk Expects to Report 2.2 Million in Revenues With Profits of $560,000
CARLSBAD, Calif., Jan. 18 /PRNewswire-FirstCall/ -- The BlackHawk Fund (OTC Bulletin Board: BHWF - News) today announced that The Company expects to report revenues of at least $2.2 Million and gross profit of at least $560,000 for the first and second quarter of 2007.
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"Our real estate ventures are really picking up and we expect this sort of growth to continue for both Palomar Enterprises as well as The BlackHawk Fund this year and for the foreseeable future. We have added a great deal of value to BlackHawk by the establishment of several real estate projects via a division within the Company. We will continue to diversify the businesses that operate under BlackHawk," stated The Company.
By later this year, The BlackHawk Fund is expected to begin the process of spinning off at least one real estate division, while developing the existing media properties. Again, as mentioned in previous news releases, spin offs from the Parent Company, Palomar Enterprises, Inc. (OTC Bulletin Board: PLMA - News) will be done through OTCBB and not the Pink Sheets.
Additionally, The BlackHawk Fund is a wholly owned subsidiary of Palomar Enterprises, Inc. and a dividend of shares of The BlackHawk Fund will be paid to shareholders of Palomar in the first quarter of this year, with details being announced next week.
About The BlackHawk Fund
The BlackHawk Fund (
http://www.blackhawkfund.com) operates as a Business Development Company, by incubating, developing, and acquiring Portfolio Companies that are synergistic with The Company's business model. The BlackHawk Fund takes a lead role in the financing, development, and management of these Portfolio Companies in return for a majority equity interest in each company. Once the Portfolio Company has succeeded in its business plan, The BlackHawk Fund will assist in the process of taking the Portfolio Company public. This will enable the portfolio company that is spun out to obtain a higher market valuation for the equity position held by The BlackHawk Fund. A dividend of stock in each one of the portfolio companies will be paid to shareholders.
At this time, The BlackHawk Fund has one real estate division that has been recently established within the Company. The BlackHawk Fund is in the process of acquiring all the business of Maximum Impact Television Group. The BlackHawk Fund will receive 100% of the revenue and share in the profits from all media properties produced with Maximum Impact, which had annual sales of $13 million last fiscal year. Maximum Impact Television Group has several production units. These units will be acquired, incubated, with plans to spin off into their own publicly traded entities by The BlackHawk Fund. Acquiring shares in The BlackHawk Fund will be through purchase in the open market but more importantly, shareholders of Palomar Enterprises, will receive a dividend of shares of The BlackHawk Fund as well as a dividend of shares of all companies spun out by The BlackHawk Fund.
From time to time, the Company may issue news releases that contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by those sections. This material may contain statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. For those statements, the Company claims the protection of the safe harbor for forward-looking statement provisions contained in the Private Securities Litigation Reform Act of 1995 and any amendments thereto. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact and may be "forward-looking statements." "Forward-looking statements" are based upon expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties that could cause actual results or events to differ materially from those anticipated.
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