United Capital Corp

United Capital Corp was incorporated in 1980 in the State of Delaware. It currently has three industry segments: Real Estate Investment and Management, Hotel Operations, and Engineered Products. The Company is engaged in the business of investing in and managing real estate properties and the making of high-yield, short-term loans secured by desirable properties. Most real estate properties owned by the Company are leased under net leases whereby the tenants are responsible for all expenses relating to the leased premises, including taxes, utilities, insurance and maintenance. The Company owns properties that it manages which are leased mainly as department stores, shopping centers, restaurants and office buildings around the country. The Company also owns day-care centers located in New York City, which are mainly operated by the City of New York. In addition, the Company owns properties available for sale and lease with the assistance of a consultant or realtor working in the locale of the premises. The Company's hotel operations segment consists of three full and limited-service hotels located in the United States which is managed by the Company. Two of the Company's hotels are located in the vicinity of an airport which, during extreme weather conditions, might be favorably impacted from transient guests. The properties also experience fluctuations in occupancy levels based on economic conditions, which have recently been unfavorable due to the declining economy. The Company's engineered products are manufactured through Metal Textiles Corporation (Metal Textiles) and AFP Transformers Corporation (AFP Transformers), wholly-owned subsidiaries of the Company. The knitted wire products and components manufactured by Metal Textiles must function in adverse environments and meet rigid performance requirements. The main areas in which these products have application are as high temperature gaskets, seals, components for use in airbags, shock and vibration isolators, noise reduction elements, EMI electronic shielding and air, liquid and solid filtering devices serving the automotive, aerospace and general industrial markets. The Company owns several patents, patent licenses and trademarks. There are numerous regional and local commercial developers, real estate companies, financial institutions and other investors who compete with the Company for the acquisition of properties and tenants. Federal, state and local requirements regulating the discharge of materials into the environment or otherwise relating to the protection of the environment have had and would continue to have a significant impact upon the operations of the Company.