PURE Files 2014 Year End Disclosures with OTC Markets
LAS VEGAS, May 11, 2015 /PRNewswire/ -- Pure Hospitality Solutions, Inc., (OTC: PNOW), announced today that the Company's accountants have completed their work on the Company's financials as PURE files 2014 year end disclosures with OTC Markets.
"As previously mentioned, we intended to make some bold adjustments to our business strategy, which would briefly postpone our voluntary disclosure filings with OTC Markets," stated Melvin Pereira President and CEO of Pure Hospitality Solutions, Inc. "These strategies came to fruition much faster than we expected, adding to an already challenging year end disclosure, as we looked to prepare them in such a way not to impede the fluidity of the audit. Once we began implementing our multi-million dollar divestiture initiative, along with a $1,000,000 debt reduction program – successfully completing both in relatively short order – it all took our accountants by surprise."
"As PURE files 2014 year end disclosures with OTC Markets, this Company is taking huge, progressive steps. Transforming like a caterpillar into a butterfly; which in no way is a pleasant metamorphosis, PURE is painstakingly making all of the necessary adjustments to emerge as a formative competitor in the $30 plus billion dollar Latin American online travel market."
As PURE files 2014 year end disclosures with OTC Markets, the Company also preps its first iteration of Oveedia for a soft launch. Expecting to complete its arrangement with Sabre this month [May 2015], the Company will have immediate access to an additional 125,000 hotels, 400 airlines, 16 cruise lines and over 25 car rental selections from which PURE can begin generating immediate revenues. This relationship with Sabre will afford PURE the ability to begin mass marketing Oveedia; expanding its visibility to the broader global market, prior to launching the 2nd phase roll-out of its region specific OTA. By the time the Company begins aggressively positioning Central America and Caribbean travel destinations, "Oveedia will already be heavily indexed and recognized as a competing OTA," continued Mr. Pereira.
"We expect that by mid-August, Oveedia will be into its second phase of the roll out, with the third phase being completed sometime in December. Revenues from OTA operations can potentially begin to occur as early as June. And having already signed on properties to Oveedia, such as Tango Mar Beachfront Boutique Hotel & Villas, our OTA can hit the ground running; immediately featuring properties from within our Central American-Caribbean focus."
Looking forward, aside from the 2015 first quarter filing, slowed by the completion of the 2014 year end, management doesn't foresee being late on filings going forward. Board members indicated that graduating to a higher exchange within the next 12 months will be management's mandate and with that will come the requirement of timely filings.
About Pure Hospitality Solutions, Inc.
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.
Related Links:
Pure Hospitality Solutions, Inc. Pinterest: http://www.pinterest.com/purehss/
Pure Hospitality Solutions, Inc. Facebook: https://www.facebook.com/PUREnow
Pure Hospitality Solutions, Inc. Twitter: https://twitter.com/purehss
Pure Hospitality Solutions, Inc. Google +: https://plus.google.com/+PurenowSolutionsplus/
Pure Hospitality Solutions, Inc. LinkedIn: https://www.linkedin.com/company/pure-hospitality-solution
Pure Hospitality Solutions, Inc. 2014 Final Filing: http://www.purenow.solutions/pnow-annual-report/
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.
SOURCE Pure Hospitality Solutions, Inc.
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