The Board and Management of Rafael Group|Bulgaria are committed to building a premier multi-faceted corporation based in Bulgaria to increase its value and grow the company. It is our intention to continue a path of sound acquisitions and growth for the mutual benefit of all our shareholders, stakeholders and employees. The Board of Directors will continue to oversee and assist the operations of all affiliated companies so as the dynamics and synergies of each entity are designed for success. The corporation maintains and continues to pursue vertical integration within its established area of expertise with sound investment in real estate market sectors, construction and development. Our real estate arm has an excellent and diverse property portfolio and in the future will be expanding upon existing projects so as develop, fully integrated waterfront resorts and eco-habitats that blend with the natural environment together with golf and lifestyle estates. As for Rafael Wood Industries, our growth plan is on target to increase all current levels of production and through the installation of advanced technology, expand our existing product lines to commence milling of high-end timber for furniture assembly. Furthermore, the Rafael Group|Bulgaria is well placed to exploit the available opportunities and as part of our future growth and expansion plans within Bulgaria, we have also sought other positive diversifications including our emergence into the tourism, hospitality and leisure industries. These transactions and expansion plans are a clear demonstration to shareholders and stakeholders of the Rafael Group|Bulgaria regarding our commitment to accelerate to the next level. We endorse and welcome the new challenges coming our way….