Acacia Diversified Holdings Inc (OTC:ACCA)

OCALA, Fla., June 1 /PRNewswire-FirstCall/ -- Acacia Automotive, Inc. (Other OTC: ACCA) today announced its 2009 financial results in conjunction with the recent filing of its 10-K Annual Report with the Securities and Exchange Commission. The 10-K shows that the Company became cash flow positive for the first time since becoming an operating company in July of 2007.

"That was a major milestone for our Company," said Acacia's CEO Steve "Junior" Sample, "and validates the position that we are quite adept at managing auto auctions."

Acacia has heretofore been relegated to acquiring auctions that had been performing poorly and then turning them around.  "It's a wonderful feeling to know that we reached the point where more money was coming in than going out," said Sample. "That gave us the opportunity to concentrate on new opportunities and growth rather than just meeting expenses."  

Acacia cited the outstanding growth it has experienced at its Augusta Auto Auction year-over-year, with 2009 seeing increases of 25% in units sold and 41% in revenues versus 2008.  This followed similar increases of 19.9% and 51%, respectively, in Q3 and Q4 2008 versus the same six-month period during which the Company first owned the auction in 2007.  "Those were fabulous increases in a very turbulent economy, and may well have put Augusta in the company of America's top auction performers for those periods," said Sample.