LAS VEGAS, NV--(Marketwired - Mar 28, 2017) - Pure Hospitality Solutions, Inc. (OTC PINK: PNOW), the developer of multiple and diverse ventures relevant to Central America and the Caribbean, announced that today, Tuesday, March 28th, 2017, the Company has signed a Board Resolution, making effective the Certificate of Designation, creating the new Series BB Preferred Stock -- to be issued to participating shareholders as a Preferred Stock dividend featuring non-dilutable features and non-reversible protections.
Management intends to aggressively follow-up with this effort by filing the necessary paperwork with the State of Nevada by March 30th; officially creating the new class of stock -- the Series BB Preferred Shares.
Within three business days of the State of Nevada filing, Management will announce the holding requirements for the shareholder participation in the preferred stock dividend.
If not during the same announcement identifying the holding requirements for shareholder participation, then shortly thereafter, management will announce the 'X-Dividend Date.' The X-Dividend Date will define the time frame in which investors must secure their minimum holdings to receive the preferred stock dividend.
As a reminder, the features of the new Series BB Preferred Stock include:
Shareholders will receive a Preferred Stock dividend that cannot be diluted and therefore protected, against the issuance of any new capital stock [common stock dilution protection].
Shareholders of the Preferred Stock dividend cannot be reversed or be affected by any type of capital stock restructuring [preferred stock is non-reversible; not affected by common stock reverse].
Participating Shareholders will receive close to 1/3 of all new Series BB Preferred Stock authorized as a stock dividend.
Shareholders will be protected by restrictive covenants, which essentially guarantee that all the features and protections under the Series BB Preferred Stock will never be amended.
It is management's desire to strongly resound that the greatest purpose of this preferred stock, is to protect, and in many ways increase, the current and future value of shareholders' PNOW holdings, as the Company moves toward completing its audit -- the near to final stage of its structural and organizational clean-up.
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.
Pure Hospitality Solutions, Inc. Pinterest
Pure Hospitality Solutions, Inc. Facebook
Pure Hospitality Solutions, Inc. Twitter
Pure Hospitality Solutions, Inc. Google +
Pure Hospitality Solutions, Inc. LinkedIn
Pure Hospitality Solutions, Inc. Investors Hangout
Oveedia Google +
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.