ORLANDO, Fla., May 22, 2012 /PRNewswire/ -- Union Equity, Inc. (PINKSHEETS: UNQT) is pleased to announce that it has sold its wholly owned subsidiary, Union Equipment Leasing, Inc., and Union Equipment Leasing, Inc.'s class 8 semi tuck inventory to Izzy Group, LLC., a North Carolina company, in exchange for a $750,000 promissory note to be paid on a weekly or monthly basis over a course of three (3) years with an annual interest rate of 3%.
Union Equity, Inc. will use the funds to increase Easy Semi Truck Leasing America LLC's inventory with newer trucks that have fewer miles. These newer trucks will be leased to Independent owner operators, which will help Easy Semi Truck Leasing America increase its lease revenues and revenues from non-refundable deposits.
"With our unique business model and aggressive growth strategy we know we will continue to have success within the truck transportation industry," stated Charles Lance, CEO of Union Equity, Inc. "We are able to offer a wide range of vehicles with our in house leasing system and are able to protect our trucks with our non refundable deposits. We have a large competitive advantage and are excited to expand our fleet to offer even more drivers vehicles. We look forward to increasing our revenues as well as increasing our asset base with acquisitions this year."
Follow Union Equity, Inc. on Twitter: http://twitter.com/#!/UNQT
About Union Equity, Inc.
Union Equity, Inc. is a holding company that is comprised of 3 subsidiaries (Easy Semi Truck Leasing America LLC, Natural Product Laboratories LLC and Union Equity Investments, Inc.) that cover a vast business spectrum. Easy Semi Truck Leasing America LLC is a commercial truck leasing business engaged in leasing class 8 commercial trucks to owner operators located around the contiguous 48 states. Easy Semi Truck Leasing America's strategy has been to target both groups of owner operators through an aggressive marketing program and complete "one stop shop" solution for the owner operator. Through their unique business model, the Company is able to provide owner operators with a leased truck regardless of their credit history.
Natural Product Laboratories LLC (NPL) laboratory and production facility is located in Melbourne, Florida and is FDA regulated and certified as well as Green Seal approved to produce the highest quality skin-care, personal care, hair, pet, baby and sunscreen products. The Company specializes in formulizations of new product lines as well as reverse engineering existing products. The staff includes a licensed chemist and certified microbiologist, with over 25 years' combined experience. NPL's skilled production team and broad range of equipment allows them to accommodate almost any size order. Packaging capabilities include a wide range of sizes for both professional and retail use. To Learn more about Natural Product Laboratories, please call the toll free number: 888-522-2550
Union Equity Investment, Inc. is to provide the best possible risk-return value for Union Equity shareholders, by making direct investments into or outright purchases of revenue generating foreign and domestic private/public companies, which are in the need of a strong management team and capital in order to make it to the next level.
Safe Harbor Act:
This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
SOURCE Union Equity, Inc.