SOURCE: Steadfast Holdings Group, Inc.

January 08, 2008 08:42 ET

Steadfast Holdings Announces Purchase of Building and Land in Meriden, CT

MERIDEN, CT--(Marketwire - January 8, 2008) - Steadfast Holdings Group, Inc. (PINKSHEETS: STHG), announced that it has completed the purchase of the land and building in Meriden, CT where it opened its second store in 2007. The building and its acre of improved land cost approximately $790,000. The purchase was paid for with cash and a mortgage of $445,000.

"This location is expected to gross approximately $840,000 in revenue and provide pre tax profit in excess of $225,000," stated John Calash, company President. "This building is a significant acquisition providing our new company headquarters and a Steadfast Custom Linings store. The purchase of the building will allow expansion on the site as necessary for warehousing or offices and already appears to be profitable with an appraisal for the mortgage at $860,000," Calash continued.

About Steadfast Holdings Group, Inc.

Steadfast Holdings Group, Inc. is the parent of Steadfast Automotive and Steadfast Custom Linings that provides custom auto and truck coatings, bed liners, custom interior kits for commercial vehicles and other accessories. Additional revenue sources include spray on coatings for bridges, exterior metals, and many other commercial applications, plus the sale of store licenses and product sales to licensees.

Safe Harbor

Statements regarding financial matters in this press release other than historical facts are "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements (future operational results and sales) involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results.

Contact Information

  • CONTACT:
    Steadfast Holdings Group, Inc.
    Investor Relations
    561-820-2444