LAS VEGAS, NV--(NewMediaWire - Mar 28, 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 the
Company has made its third round of the securities
buyback payments, as scheduled under
the Debt Repurchase Program.
"This means that we have now eliminated over 50% of the legacy
debt targeted in this phase of the Debt Repurchase Program," stated
Melvin Pereira, President and CEO of Pure Hospitality Solutions,
Inc. "This also means that we have officially killed the majority
of the debt that has poorly impacted the Company and stifled
shareholder value for years. As evidenced by a series of
successful securities buyback payments,
shareholders clearly see, there is real opportunity and value
here."
Completing over 50% of the Debt Repurchase Program, the Company
has eliminated a dozen noteholders -- having only one payment
remaining to achieve 100% removal of the remaining legacy
debt. Read: Three
Down One to Go (http://www.purenow.solutions/three-down-one-to-go/)
The securities buyback plan has also
minimized the Company's financial liabilities
significantly. Derivative liabilities have currently been
reduced by over $1.25 Million, eliminating more than 3 billion
shares of possible dilution.
This achievement further supports the Company in becoming fully
reporting with the Securities and Exchange Commission, as well as
with the upgrade of PNOW to the OTCQB.
Shareholders have indicated, that these ongoing successes
definitely lend to a stronger sense of confidence -- in management,
the market and the global success of the Company's flagship
product, Oveedia.com.
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.