SOURCE: Privileged World Travel Club, Inc.

January 27, 2014 08:00 ET

Privileged World Travel Club, Inc. "State of the Company"

TIBURON, CA--(Marketwired - Jan 27, 2014) - Privileged World Travel Club, Inc. (OTCQB: PVCL) announced today that the "State of the Company" has made significant progress and the Company management wishes to detail to the shareholders the current success.

A. Recently, Privileged shares are now DTC Eligible, allowing the shareholders to electronically trade their shares.

B. Following the takeover announcement of Triton Distribution Systems, Inc., all licenses for the technology are now null and void. Privileged now owns the technology outright and the license fees of $2,200,000 are now cancelled. This will be reflected in the balance sheet as part of the Company assets. Based on an Appraisal and Valuation Report issued in August 29, 2011 the technology that the Company took over is valued at $30 Million. This value will also be reflected on the Company's balance sheet.

C. Privileged will acquire all the research and development tax credits that Triton generated since 2006 that are estimated to be approximately $12 Million.

D. Following the takeover, Triton will get 4,062,500 Shares of Privileged World Travel Club, Inc. (PVCL), priced at $1 a share, these shares will be disbursed to all the Triton shareholders as a dividend. In addition there are 4,062,500 Privileged shares which will be distributed out to both current shareholders of Privileged and new investors. 1,015,625 shares of Privileged will be distributed equally to all the Privileged shareholders of record in a form of a dividend. The remaining 3,046,875 shares of Privileged will be distributed to new shareholders that wish to invest in Privileged. For every 10 shares purchased in Privileged in the open market, the Company will add one share as an upfront dividend until all the 3,046,875 shares are exhausted.

E. Privileged will commence operations with China in the first quarter of 2014. It is expected to transport 97,344 Chinese tourists annually to visit 9 cities in the United States. The gross revenue generated monthly by Privileged from this program is $811,200, or annually $9,734,400. Therefore the Company has decided to establish a Privileged office of coordination in Beijing, China to properly handle all the travelers from China crossing the Pacific to the United States. It is estimated that this program will last five years, based on the signed contracts signed with the organizers in China. 

F. Furthermore Privileged will continue the conversion of new members from the previously purchased Membership List. Privileged acquired a 9 million Membership list of individual names from Triton Distribution Systems, Inc., based on a reported Membership List Purchase Agreement that was executed October 10, 2012 and was reported in the S-1 registration form that went effective January 18, 2013.

G. Privileged management wishes to inform all shareholders that the Company is well poised and structured to succeed. The Company's capital structure is as follows:

  • Shares Outstanding: 26,036,525
  • Float: 11,445,219
  • Authorized Shares: 100,000,000

The Company wishes to advise all shareholders that the Company is engaged in other activities that will be properly reported publicly in due course. 

ABOUT PRIVILEGED. www.privilegedwtc.com

The business of Privileged is to provide exclusive travel services to persons ("Members") who elect to join the prestigious Privileged World Travel Club (the "Privileged Travel Club") and international travelers bound for the United States. Immediately after joining, Members of the Privileged Travel Club can begin enjoying the services their membership offers. The Company provides luxury services with a high standard of value. Company management feels that the prices offered by the club are reasonable and very attainable by all Members to travel any time they wish. The Company is specially focused to offer its Members luxury membership travel products and services at specially discounted prices. The Company's concept is to offer services to a larger audience and thereby increase the reach to more markets. 

FORWARD-LOOKING STATEMENTS

This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. The company's operations and business prospects are always subject to risk and uncertainties. Triton disclaims any obligation or intention to update any forward-looking statement.

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