BUFFALO GROVE, Ill., Jan. 13, 2005 (PRIMEZONE) -- GFY Foods, Inc. (OTCBB:GFYO) announced today the company has closed on its first real estate acquisition in accord with the Company's plan to increase cash flows through such investment vehicles. The property is an attached residence in a duplex unit located in Batavia, Illinois, and is currently occupied.
Ed Schwalb, CEO of GFY Foods commented that this marks the first of several similar investments that the Company plans to make. GFY Foods is currently negotiating for additional units that it hopes will add to its cash flow. This unit has a potential for a good return on the investment even if the company sold it immediately; therefore, the company is looking at the possibility of acquiring additional properties. The objective is to build a portfolio of such investments that combine growth with safety, in an effort to provide a financial stimulus for the longer-term well being of the Company and its shareholders.
About GFY Foods, Inc.
Founded in the spring of 2003 by Ed Schwalb -- GFY Foods is currently operating three restaurant locations. The company believes in the importance of providing affordably-priced, high-quality foods that are healthy alternatives to food that is now being sold to the American public. In addition, GFY also has invested in two viatical settlement policies valued at $1 million each. For more information please contact Investor Relations at (973) 351-3868.
This release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the company's current views with respect to future events that involve risks and uncertainties including uncertainties related to successful negotiations with other parties, closing of transactions, capital availability, operational and other risks, uncertainties and factors described from time to time in the company's publicly available SEC reports. In light of these risks and uncertainties, the forward-looking events described in this release might not occur.