Pure Stops Unchecked Dilution With Final Payment in Debt Repurchase Program
Company Completes Securities Buyback Program for Targeted Toxic Debt -- Now Ready to Take on Expotur 2016
(firmenpresse) - LAS VEGAS, NV -- (Marketwired) -- 05/10/16 -- (OTC PINK: PNOW), parent Company of the Central American-Caribbean online travel Agency (OTA) ()), announced today, that the Company has successfully completed its -- making the fourth and final payment on May 9th, 2016 -- bringing an end to unchecked dilution.
Management contends that the typical methodology of microcap funding is harmful to shareholder growth, value and confidence. This happens when a large number of lenders find their way onto a company''s debt schedule, displaying aggressive debt conversion tactics and hyper-aggressively selling highly discounted stock into the marketplace. This practice plagued the Company for the past three years, but was one of the primary initiatives Mr. Melvin Pereira took head-on when he became President and CEO of Pure Hospitality Solutions, Inc.
"Am I suggesting that a microcap company can exist debt free?" Melvin Pereira commented as he addressed shareholders. "No! What I am suggesting however, is that there is a limit to the abuse a micro-cap company should take. Maybe three years ago this Company didn''t have much to fight for, or protect. However, at this time, we do!"
"We''re beginning to generate revenues from online operations, we have a scalable online technology product, a niche market, and an incredible opportunity to become an acquisition target for a major OTA -- if we continue to play our cards right. So again, it''s more than fair to suggest that today, we have something to fight for and protect. In eliminating 14 toxic instruments and bringing our debt levels to a place that is more than manageable, we have made another major step in the right direction. This will help lead us toward our ultimate success."
Management indicated that while the worst seems to be over, and the future looks much brighter, there is still much more work to do. In paving the way for more sustainable, larger capital infusions, the Company must remain diligent; cutting deeper at the root of the problem and eradicating the Company of its remaining legacy debt.
Pereira continued, "Be it convertible promissory notes, service debt or simple loan obligations, optically, this Company''s legacy debt -- some items carried on the books since 2003 -- is seen as stagnation. It should be more than evident by now, that we are anything but stagnant. This is not the same Company from 2014, and I assure you, by mid-2017, we will not be the same Company we are today. Failure is not an option and that is why hard fought and well-earned progress will continue."
Pereira concluded, "We will shortly enact a strategy to eliminate much of the remaining legacy debt, by the close of the third quarter. If successful, our total outstanding debt obligations should reflect roughly $1,500,000; a major difference from nearly $12M just two years ago. In the meantime, I''m happy to say, that we''re going to attend the kick-off festivities tomorrow for Expotur 2016 and focus on the important business of increasing our property listing database and online bookings through our OTA brand, Oveedia ()."
Management suggested that the high level of interest from Expotur 2016, has been a strong indicator that the Company should be able to meet its monthly target of new affiliate property listings. If successful at Expotur 2016, the Company should experience a significant growth spurt over the next 7 months.
PURE provides proprietary technology, marketing solutions and branding services to hotel operators and condominium owners. The Company''s vision is to build competitive operations in the areas of (i) online marketing and hotel internet booking engine services, (ii) hotel branding and, (iii) own, operate and in some instances develop, boutique hotels under the new, "by PURE" brand. PURE is the creator of Oveedia (), the online travel hub.
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Safe Harbor Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company''s actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company''s customers, competition and other factors discussed from time to time in the Company''s filings with the Securities and Exchange Commission.
Team PURE
IR Div.
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Datum: 10.05.2016 - 07:30 Uhr
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