LAS VEGAS, NV--(Marketwired - Feb 2, 2017) - Pure Hospitality Solutions, Inc. (OTC PINK: PNOW), parent Company of the Central American-Caribbean Online Travel Agency (OTA) Oveedia and Numismatic Specialty Store (Meso Numismatics) announced today, that the Company will offer shareholders of a certain record date [to be determined], a special class of preferred shares -- convertible into common stock -- as a dividend for perceived lost value.
"This will be a special type of preferred shares, intended to benefit all of our loyal shareholders," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions. "This preferred share class will carry certain favorable convertible features and anti-dilutive features, which cannot be reversed in any type of capital restructuring.
Management clearly acknowledges that during the time of its commitment to cleaning up the Company's debt, derivative liabilities and putting into place a sound business plan, our long-term shareholders may have experienced some "lost value." Given that the Company has now virtually eliminated all of the market toxicity and any associated liabilities when the Company redeemed the debt of 14 convertible notes, it is anticipated that with the increased productivity, expanded market visibility, and the strong strides in profitability PNOW is beginning to achieve, "our market will soon show signs of good health and increased confidence," continued Pereira.
"Offering shareholders, a class of preferred shares isn't a gift, it's a responsibility to support our shareholders, like they've supported us. We anticipate that our market will soon show strong signs of improvement over the next 6 months to Year-End. Our revenues are growing daily. Our visibility is increasing daily. Our technologies are improving daily. And, most importantly, our business is producing daily. So, this preferred share dividend will help to assure the value sought by our long-term investors."
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. PURE is the creator of Oveedia, the Central American-Caribbean online travel hub.
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.