The New York City-based resort and vacation developer/investor has purchased $250,000 in telecommunications equipment from an undisclosed vendor for its Miami facility, which oversees the southeastern United States and Latin America.

The purchase was funded by issuing 2,500 new series B preferred stock with a liquidation value of $100 per share. American Leisure also plans to invest another $100,000 to improve the center's sales and marketing performance.

"As we execute our corporate strategy through various acquisitions we are negotiating, we should begin to see a positive impact on both our top and bottom lines," Malcolm Wright, president of American Leisure, says in a prepared statement."