Las Vegas Railway Express, Inc. Posts Improved 10Q
(firmenpresse) - LAS VEGAS, NV -- (Marketwire) -- 08/10/12 -- Las Vegas Railway Express, Inc. ("X" Train) (OTCQB: XTRN) -- The Las Vegas X Train, the luxury passenger train with planned rail service between Southern CA and Las Vegas, has released its latest Form 10Q to the SEC. The Company marked significant improvement in two primary areas. First, the Company has been successful in subscribing its private placement offering for $1.5 million. This gives the Company the much needed operating cash it requires as it begins work on the development of its downtown Las Vegas train station and the continuation of the acquisition of its first series of rail cars. The Company has also been successful in restructuring its balance sheet to eliminate approximately $1.5 million in past liabilities disposed of and conversions of notes and stock subscriptions to common stock.
"We are pleased with the treatment our professionals rendered on the outstanding items on the balance sheet," stated Michael Barron, President and CEO of the Company. "We think we are well prepared for the next phase of development of our project now," he remarked.
Las Vegas Railway Express, Inc. has been planning for the establishment of a "Vegas Class" passenger train service between Los Angeles and Las Vegas since early 2009. Service departures are planned to be Thursday and Friday to Las Vegas with returns on Sunday back to Los Angeles. An introductory price of $99 each way includes Vegas Class accommodation and all-inclusive food & beverage. In addition, the "X" Train will also offer the ability for its passengers to book hotel rooms, transportation transfers, entertainment & show tickets and other travel incidentals. For more information, please visit the Company website at .
Statements in this press release other than statements of historical fact, including statements regarding the company's plans, beliefs, and estimates as to projected market size are "forward-looking statements." Such statements are subject to certain risks and uncertainties, including factors listed from time to time in the company's SEC filings, and actual results could differ materially from expected results. These forward-looking statements represent the company's judgment as of the date of this release. The company disclaims, however, any intent of obligation to update these forward-looking statements.
Contact:
Success City Online
Ms. Maria Bailey
(702) 271-0591
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Datum: 10.08.2012 - 12:24 Uhr
Sprache: Deutsch
News-ID 1141457
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Railroads & Intermodal
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