Jamaica Estates Still Has Fifty-Fifty Chance to Survive

May Declare Bankruptcy

For SLReports.net

Jamaica Estates(JAM : ISE) announced today that it was able to squeeze out a profit of L$100,000 from the month of November, but still faces major challenges going into December and beyond.

"We have cleared 8 Open Spaces and applied to LL for their conversion to sims. This is where our survival will be decided. I will be renting the sims our very cheaply at first ($5,999 for a 4096m lot), almost at breakeven, if they fill our survival will be sealed, if not, we'll be declaring bankruptcy," CEO Rodders Holgado announced in today's press release.

Also tied to JAM(ISE)'s survival is SAS(ACE), which has a considerable stake in the company.

"Also if LL continue to drag their heels in completing the conversion, that wont help matters either," Holgado added, " It's still a 50-50."

JAM(ISE) has been trading between L$0.40 and L$0.50 for the last week, with yesterday being it's heaviest trading day with 19,140 shares trading hands.

JAM(ISE)'s 30 day rolling share value is L$0.69, considerably off of it's historic average price of L$1.74 and all-time high of L$3.50. JAM9ISE)'s average daily volume is 7661 shares traded per day, and has paid a total of L$0.42 on 16 individual dividend payments since March 2008.

Yesterday SAS(ACE) mirrored a 30 day share value high at closing of L$2.94.