SOURCE: Pure Hospitality Solutions, Inc.

Pure Hospitality Solutions, Inc.

August 16, 2016 09:30 ET

Pure Files Disclosures to Reveal Major Progress and Potential

LAS VEGAS, NV--(Marketwired - Aug 16, 2016) - Pure Hospitality Solutions, Inc. (OTC PINK: PNOW), parent Company of the Central American-Caribbean Online Travel Agency (OTA) Oveedia, announced today, that the Company has filed its 2nd QT Disclosures; demonstrating management's diligence in eliminating debt, preparing for private placement financing and positioning the Company for continued growth.

"Every quarter, we alert shareholders when we file our disclosures, and every quarter, we demonstrate our intention to further the Company's transparency and position," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions, Inc. "We understand that the 'microcap game' may not play by the same rules as the 'Big Boards' or the private sector for that matter, but we don't care... we're going to do this our way. When the dust settles, not only will Oveedia have proven itself to be on par with South America's Hotel Urbano and Decolar, but PURE will have upgraded to the OTCQB, significant capital will have been raised and the Company's long-term shareholders will have benefited from the Company's new capital position. Just look at our track record of 'doing.' We can't speak to the way the market behaves, but what we can speak to, is how we behave; and we've accomplished a lot through committed action!"

The Company's most significant achievement in this quarter was eliminating roughly $3.3M in toxic convertible debt through the Debt Equity Swap program. Management anticipates being able to persuade other individuals, even non-toxic obligations, to enter the Debt Equity Swap program, as Oveedia's valuation grows -- that being the second most significant achievement this quarter; increasing Oveedia's market value with the 'on boarding' of featured properties. 

It should also be noted that the accrued interest was dramatically reduced from $859,000 down to $65,558, and the Net Income (loss) numbers have improved by 80% over the first quarter. Furthermore, the Company closed this quarter with more cash in the bank than in the first quarter. This in fact being its own accomplishment, as management has maintained a positive cash position every quarter since the close of 2015.

Mr. Pereira concluded, "Now that we are nearly free of legacy debt, and operating tighter, more prudently, we can begin to push much harder towards securing the type of capital required to generate strong revenues and achieve substantial growth. It may be difficult to see now, but we assure you, PURE and Oveedia are on the right track. Remember, slow and steady wins the race; and when opportunity presents itself, we will surely be ready and able to explode. These disclosures speak directly to the essence of that."

To view part II of the shareholder update, please visit: http://www.purenow.solutions/letter-shareholders/

To View part I of the shareholder update, please visit: http://www.purenow.solutions/letter-shareholders/

To view the second iteration of Oveedia, please visit: http://blog.oveedia.com/oveedia-new-website/

To interact and discuss PNOW with other shareholders, please visit: http://investorshangout.com/Pure-Hospitality-Solutions-Inc-PNOW-65267/

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.
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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.

Contact Information

  • Contact:
    Team PURE
    IR Div.
    (800) 889-9509