LAS VEGAS, NV--(NewMediaWire - Apr 5, 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 Pure files 2015 year end
disclosures this past Thursday, March 31st 2016,
with the OTC Markets, to maintain its "Current Filer" status
-- see link: (http://www.otcmarkets.com/financialReportViewer?symbol=PNOW&id=152384).
Pure files 2015 year end disclosures on
the heels of receiving an exclusive invitation to meet with SITCA
(The Secretary of Central American Tourism
Integration). Representatives from Canatur were also present, which was an
opportunity for the Company to further Oveedia's value proposition
within the Latin American (LATAM) online travel industry.
The 2015 year end disclosures also reveal the success of several
initiatives introduced throughout the year. The most notable
initiative -- the release of Pure's flagship product Oveedia
-- beta launched on October 9th, 2015. After a
very successful launch of the search engine,
the Company was able to secure additional long-term financing, which supported the
successful release of the second part of the OTA -- Oveedia's booking engine. This, on the heels of
Oveedia booking its first reservation, along with many
subsequent reservations to date, the Company has successfully
generated its first revenues from online travel. Management, having
now set the course for Pure to prove out its business model as a
premier online travel agency for the Central American-Caribbean
region of LATAM, has well positioned the Company for growth and
investment opportunity.
As Pure files 2015 year end disclosures,
another notable point was the reduction of over $5 Million in debt
and interest in 2015.
This subsequently set the stage for the Company's 2016
transition into the next phase of an already
accelerated Debt Reduction Program. Securing
additional long-term capital to forward this
initiative, the Company launched the Debt Repurchase Program -- targeting the
removal of toxic legacy debt. To date, the company has
successfully extinguished over 50% of its targeted legacy debt. The remaining
debt is anticipated to be eliminated within the next five
weeks.
In the midst of all this, Pure also retained the services
of Ronald N. Vance & Associates, to begin
upgrading the Company to the OTCQB exchange.
Mr. Melvin Pereira, President and CEO of Pure Hospitality
Solutions, commented, "I am very certain that our shareholders will
be quite pleased with these filings. Not only have we secured our
first revenues from online travel operations, we have taken
dramatic steps to reduce past and future liabilities and better
positioned the Company for significant investment opportunities.
Not to mention, all of the progress we are making within the
Central America and Caribbean markets.
"We are signing up new hotels and receiving new inquires almost
on a daily basis. I am exceptionally pleased with all the progress
we have been making, and firmly believe we are on the right
path!"
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.