LAS VEGAS, NV--(NewMediaWire - Jan 25, 2016)
- Pure Hospitality Solutions, Inc. (OTC
PINK: PNOW), parent Company of the Central
American-Caribbean online travel Agency (OTA) Oveedia (www.Oveedia.com), announced today, that
management has positioned the Company to eliminate nearly $3M of
its current debt obligations by the end of this First QT 2016.
Beginning with the remaining notes purchased from the Company's
primary debtholder -- held by 14 creditors, the Company [this week]
is slated to launch a Debt Repurchase
Program, which will retire the toxic debt held by
these particular noteholders. [For additional
information on the Debt Repurchase
Program, PLEASE Read: http://www.purenow.solutions/debt-repurchase/]
If this initiative is successful, all of the securities directly
responsible for the aggressive dilution negatively impacting the
Company in 2015 will be eliminated.
"This Debt Repurchase Program is a
vital step to clean-up our balance sheets -- preparing the Company
for the next phase of our growth and evolution," stated Melvin
Pereira, President and CEO of Pure Hospitality Solutions, Inc.
"When I became CEO of this Company, I outlined a number of plans,
which I am determined to see through to fruition. Becoming a fully
reporting company, with the intent to up-list, was one of the first
things that I mentioned... and just over a year later, we have
kicked our plans into high-gear."
While the terms of the transaction will be summarized in the
2015 Year End Disclosures and fully detailed in the 1st QT
Filing of 2016, management has confirmed that a long-term financing
deal has been arranged under its new Debt Repurchase
Program. This funding will help to eliminate nearly
all of the toxic debt from the Company's balance sheet. Management
indicated that a stronger balance sheet will assist the Company
with obtaining better structured capital in the future, which will
be necessary for Oveedia's (www.Oveedia.com) continued rapid growth.
Pereira concluded, "So much has already happened since we've
said Hola to 2016. As Oveedia continues to grow on a
daily basis, we are preparing for a very healthy and successful
future. I have proclaimed 2016 the year of transparency; we begin
by becoming fully reporting, up-listing, and continuing to raise
non-toxic capital for the aggressive expansion and growth of
Oveedia. In aiming to qualify for the NASDAQ Small Cap inside of
2017, we will burn rubber for the next 12 months; attending
conferences, marketing, increasing sales bookings and better
positioning Oveedia as the travel and tourism hub for all of
Central America and the Latin speaking countries of the
Caribbean."
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 (www.Oveedia.com), the Central American-Caribbean online travel
hub.
Related Links:
Pure Hospitality Solutions Pinterest: http://www.pinterest.com/purehss/
Pure Hospitality Solutions Facebook: https://www.facebook.com/PUREnow
Pure Hospitality Solutions Twitter: https://twitter.com/purehss
Pure Hospitality Solutions Google: https://plus.google.com/+PurenowSolutionsplus/
Pure Hospitality Solutions LinkedIn: https://www.linkedin.com/company/pure-hospitality- solution
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.