Dinatrum/Alumifuel Power Corporation (OTCMKTS:AFPW) has provided an update regarding the company’s acquisition and latest activities. The company recently informed shareholders that it had signed a letter of intent (LOI) for the development of a project in Atlanta, Georgia.
Dinatrum acquires 6.422 acres block in Atlanta
Alumifuel Power Corporation stated that it had signed a letter of intent to acquire a 6.422 acres block in the suburbs of Atlanta, Georgia. The company has indicated that it will develop the site, and so far, it has retained the services of Design and Landscape engineers to work on the shape and design of the lots. Dinatrum has indicated that it will provide more information regarding the project soon.
The company has contracted international contractors to carry out different tasks, and it is committed to ensuring everything is per Environment Regulations. So far, Dinatrum has collaborated with several Real Estate Agents across various cities.
Dinatrum expects up to $11 million from the Atlanta project
The process of designing the landscape within the property is already underway. The company is targeting around 60 to 70 townhouses that the company estimates will bring revenue of between $8 million and $11 million within 13 months is to 25 months. However, the revenue estimate might vary depending on how many townhouses both luxury and standard that Dinatrum will construct. The company indicates that it will provide the exact numbers as development continues, and they start the pre-sale program.
Similarly, the company expects a variation in revenue depending on the office space the company will have within the development. Over the last decade, office space has grown significantly and thus us an area that the company wants to concentrate on and capitalize on the opportunity.
The company plans to subcontract developers experienced in the field with which Dinatrum currently has Conversions. The company has invited local contractors to help with the project. Going forward, the company does not foresee the possibility of a reverse split since it does not have any debt conversions. Therefore with no debt, there is no chance of a reverse split.
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