Pure Enacts Program to Eliminate Toxic Debt
(firmenpresse) - LAS VEGAS, NV -- (Marketwired) -- 01/25/16 -- . (OTC PINK: PNOW), parent Company of the Central American-Caribbean online travel Agency (OTA) (), announced today, that management has positioned the Company to eliminate nearly $3M of its current debt obligations by the end of this First QT 2016.
Beginning with the remaining notes purchased from the Company's primary debtholder -- held by 14 creditors, the Company [this week] is slated to launch a which will retire the toxic debt held by these particular noteholders. [For additional information on the , PLEASE Read: ]
If this initiative is successful, all of the securities directly responsible for the aggressive dilution negatively impacting the Company in 2015 will be eliminated.
"This is a vital step to clean-up our balance sheets -- preparing the Company for the next phase of our growth and evolution," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions, Inc. "When I became CEO of this Company, I outlined a number of plans, which I am determined to see through to fruition. Becoming a fully reporting company, with the intent to up-list, was one of the first things that I mentioned... and just over a year later, we have kicked our plans into high-gear."
While the terms of the transaction will be summarized in the 2015 Year End Disclosures and fully detailed in the 1st QT Filing of 2016, management has confirmed that a long-term financing deal has been arranged under its new . This funding will help to eliminate nearly all of the toxic debt from the Company's balance sheet. Management indicated that a stronger balance sheet will assist the Company with obtaining better structured capital in the future, which will be necessary for Oveedia's () continued rapid growth.
Pereira concluded, "So much has already happened since we've said . As Oveedia continues to grow on a daily basis, we are preparing for a very healthy and successful future. I have proclaimed 2016 the year of transparency; we begin by becoming fully reporting, up-listing, and continuing to raise non-toxic capital for the aggressive expansion and growth of Oveedia. In aiming to qualify for the NASDAQ Small Cap inside of 2017, we will burn rubber for the next 12 months; attending conferences, marketing, increasing sales bookings and better positioning Oveedia as the travel and tourism hub for all of Central America and the Latin speaking countries of the Caribbean."
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.
Contact:
Team PURE
IR Div.
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Datum: 25.01.2016 - 14:37 Uhr
Sprache: Deutsch
News-ID 446217
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LAS VEGAS, NV
Kategorie:
Commercial & Investment Banking
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