May 30, 2013
I am a holder of Grace Preferred Series B and C shares. I decided to invest in Grace Acquisition I Inc. as I believed the preferred shares represented a sound investment. Grace Acquisition has approximately $1.6 billion in assets within the hospitality industry. The hospitality industry today is seeing high occupancy levels and profits.
It is perplexing to me that for over 5 years now Grace Acquisition has failed to pay it's shareholders dividends. It is also concerning that the company is seeking excuses not to make it financials available to it's investors. Considering the facts of how well the economy and the hospitality industry has improved over the last 5 years, I am asking the SEC for it's assistance in investigating this company and to hold management accountable to the shareholders of the preferred shares.