Desert Capital REIT posts $640,152 September net profit; revenue up

By Jim Witters

Wilmington, Del., Oct. 20 - Desert Capital REIT, Inc. reported a net profit of $640,152 on total revenue of $659,910, according to the company's monthly operating report for September filed Wednesday with the U.S. Bankruptcy Court for the District of Nevada.

Those figures compare to a net profit of $36,107 on total revenue of $37,802 in August.

The company also reported cash and cash equivalents of $918,589 as of Sept. 30, up from $278,436 at the end of August.

Desert Capital is a Henderson, Nev.-based real estate investment trust. An involuntary Chapter 11 case was filed against the company on April 29. The case number is 11-16624.

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