SOURCE: Oriens Travel & Hotel Management, Inc.

March 03, 2014 08:37 ET

Oriens' Files Year End; Awaits Approval for Current Filer Status

Now Poised to Begin Audit Process, Oriens Sees Several Uplisting Possibilities Stemming From Pending Merger/Acquisition

LAS VEGAS, NV--(Marketwired - Mar 3, 2014) - Oriens Travel & Hotel Management Corp. (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, operating its Hotel PURE brand, announced today the Company has completed its Year End disclosures.

"We have filed the 'long-form' with the OTC Markets over this past weekend and now await approval to achieve Current Filer status," stated Ken Chua, President of Oriens Travel & Hotel Management. "We are happy to have undergone the laborious process of bringing our financials to a point where we feel absolutely confident our efforts will prove complementary to the pending merger/acquisition. It will also allow the upcoming audit process to flow more smoothly."

Management eagerly awaits the opinion of counsel to be submitted to OTC Markets, along with their [OTC] review of the Company's disclosures. Executives anticipate that sometime this week, the Company will achieve the coveted PinkSheet status of 'Current Filer.' Management has reiterated that the next step in their 2014 plan is to immediately begin the auditing process as a complement to the pending merger/acquisition.

Mr. Chua continued, "There are a substantial amount of assets, revenues, potential revenues and growth opportunities being acquired by the pending transaction. We are not yet certain what exchange this affirmatively significant adjustment to our fiscal future will place us. What we are positive of however, should all transactions close as contemplated, OTHM will not be a PinkSheet company a year from now."

Mr. Chua concluded, "Once we achieve Current Filer status, we will begin revealing our growth plans. By months' end, we will also look to firm up the date for our shareholder's visit to Costa Rica, to meet with me and the new Oriens' team. Investors will be given the opportunity to touch and see what we have achieved together!"

About Oriens Travel & Hotel Management Corp. ( (PINKSHEETS: OTHM) engages in the operation of hotels and resorts primarily in the United States and Central America under the Hotel PURE brand. The company also operates Friendly Reservations Online, a proprietary and sophisticated online booking system designed to execute reservations capture through Hotel PURE consumer facing websites, as well as individual hotel websites operated by Oriens on behalf of hotels branded under the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.

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.

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Twitter: @orienscorp

Contact Information

  • Contact:
    Team Oriens
    IR Div. (702) 483-0318