LAS VEGAS, NV--(Marketwired - Nov 21, 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 what it anticipates to be its final disclosures as a non-reporting Pink Sheet company.
"The time has come, where our public company must now advance our growing business, while allowing shareholders to reap the reward of their unwavering commitment to PNOW," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions, Inc. "If we are to continue acting responsibly and do our very best to raise the least toxic capital, increase revenues and strengthen our cap table, we must elevate our reporting status. That time has officially come!"
With the filing of the 3rd QT Disclosures, management once again has demonstrated its diligence, preparation and commitment to staving off rapid dilution, raising minimally toxic capital, positioning the Company for ongoing revenue and supporting long-term growth. Management is confident that the Company is in the best fiscal health it has seen in a very long time. Albeit, "There is still much more work to do," continued Mr. Pereira.
"Much of that work entails a greater focus on revenue, broadening our communications to strengthen our shareholder base, and of course, doing whatever it takes to further build shareholder confidence through positioning the Company for significant value appreciation. This includes our view toward leveraging Numismatics as a low cost revenue generator and travel marketing tool, and of course, working diligently to make this disclosure our last as a non-reporting company. Both being pertinent efforts.
"The process of upgrading the Company's reporting status wasn't taken lightly. Over the past year, management engaged various counsels and professional consultants to explore the various options available, regarding up-grading to the OTCQB, while eliminating debt and raising capital simultaneously. The discovery, as disheartening as it was... no option immediately allowed for this. Thus, management moved to initiate these efforts in stages -- which took much longer, but would ensure the likelihood of success."
Mr. Pereira concluded, "Given that we're coming up against the holiday season, we expect that there might be some slow-ups exhibited in the audit process. However, as you all know by now, we are fiercely diligent. Luckily, so are our professional consultants. So, I am surely confident, by the time our Year-End reports are uploaded to the OTC Markets site, PNOW will be a fully reporting Company with the Securities and Exchange Commission. We're on a mission!"
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.