Online Vacation Center Holdings Corporation (PK) (ONVC) Quote

Expert Market now

Pink Limited now.....

ONVC now pink current
https://www.otcmarkets.com/stock/ONVC

BULLISH LONG TRADE ENTRY IN ONVC

Online Vacation Center Holdings Corp. engages in the provision of vacation travel services. Its portfolio of travel companies include: Online Vacation Center; Enrichment Journeys; Dunhill Vacations News; Luxury Link; Home Based Travel Experts; and Expedia Cruise Ship Centers. The company was founded by Edward B. Rudner in 1972 and is headquartered in Fort Lauderdale, FL .

Don’t be shy. Step right up

Time for a change

That was a hit with authority...thanks otc

ONVC is having lot of buzz

- Current report filing (8-K)

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 8-K


CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) October 19, 2009

Online Vacation Center Holdings Corp.


(Exact name of registrant as specified in its charter)


Florida


0-32137


65-0701352


(State or other jurisdiction of incorporation)


(Commission File Number)


(IRS Employer Identification No.)




1801 N.W. 66th Avenue, Plantation, Florida 33313
(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (954) 377-6400

Not applicable
(Former name or former address, if changed since last report)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

|_| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

|_| Pre-commencement communications pursuant to Rule 13e-4(c) under The Exchange Act (17 CFR 240.13e-4(c))

Item 1.01 Entry Into a Material Definitive Agreement

On October 19, 2009, Online Vacation Center Holdings, Corp. (the “Company”) entered into a definitive agreement (the “Agreement”) to sell the assets and liabilities arising from customer travel after November 2, 2009 of its wholly owned subsidiaries, La Tours and Cruises, Inc. (“La Tours”) and Thoroughbred Travel LLC (“Thoroughbred “) to West University Travel LLC, a Texas limited liability company (“West University”). The principal members of West University are Ray Schutter, President of La Tours and Thoroughbred, and Cecilia Schutter. Pursuant to the Agreement, Mr. and Mrs. Schutter will return 50,000 restricted shares of the Company’s common stock and forgive the Company’s $100,000 note issued to the Schutters in conjunction with the Company’s acquisition of La Tours on January 3, 2007. Upon consummation of the Agreement, Mr. Schutter will resign as President of La Tours and Thoroughbred and the Company will retire the 50,000 shares of its common stock. Thoroughbred Travel LLC was acquired by the Company on September 26, 2006.

The foregoing description of the Definitive Agreement and the transactions contemplated thereby is qualified in its entirety by reference to the Definitive Agreement attached as Exhibit 10.1 hereto and the press release attached as Exhibit 99.1 hereto, and incorporated herein by reference.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(a) Exhibits

Exhibit No.

Description

10.1 Agreement for Sale and Purchase of Certain Business Assets and Assumption of Certain Business Liabilities

99.1 Press Release dated October 22, 2009






































2

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.



Online Vacation Center Holdings, Corp.



By:


/s/ Edward B. Rudner




Edward B. Rudner

Chief Executive Officer


Dated: October 22, 2009

I am currently waiting to do research and watching for the price to drop. If I do see something I will let you all know when i am ready to buy. Dave

anybody have any info on this.

the price is not on vacation.

oh well have to work.

looking at a vacation myself.

Online Vacation Center Holdings Corp. Announces Q1 Results
May 5, 2009 10:29:00 PM
Copyright Business Wire 2009


Email Story Discuss on ZenoBank

View Additional ProfilesPLANTATION, Fla.--(BUSINESS WIRE)-- Online Vacation Center Holdings Corp. (OTCBB: ONVC) announced its results for the first quarter ended March 31, 2009 today.

Net Revenues from Continuing Operations

-- Net revenues from continuing operations increased by $568,919 to
$2,824,743 for the three months ended March 31, 2009 compared with
$2,255,824 for the same period in the prior year. The increase in net
revenues from continuing operations was attributable to an increase in
commission revenue and publishing revenue.

Operating Income from Continuing Operations

-- Operating income from continuing operations increased by $1,117,510 to
$882,155 for the three months ended March 31, 2009 compared with a loss
of $235,355 for the same period in the prior year. The increase is
attributable to an increase in net revenues and a decrease in sales and
marketing expense and general and administrative expense offset by an
increase in depreciation and amortization expenses.

Income from Continuing Operations

-- Income from continuing operations increased by $707,635 to $530,228 for
the three months ended March 31, 2009 compared with a loss of $177,407
for the same period in the prior year.

Net Income and Earnings Per Share

-- Net income increased by $826,909 to $530,228 for the three months ended
March 31, 2009 compared with a net loss of $296,681 for the same period
in the prior year. Weighted average shares outstanding - basic and
diluted decreased to 17,257,406 shares respectively, for the three
months ended March 31, 2009 compared with 18,496,845 for the same period
in the prior year. Earnings per share - basic and diluted were $0.03 per
share, respectively, compared with a loss of $0.02 per share,
respectively.

The Company also reported that it has repurchased to date 223,609 shares of its common stock at a total cost of $117,101 and at an average cost of fifty-two cents per share, pursuant to the Board of Director's authorization program of August 2008 and as amended in March 2009. Additionally, the Company repurchased 250,000 shares of its common stock in March 2009 in two private transactions and 150,000 shares in May 2009 in one private transaction at a total cost of $201,005. In accordance with its previously announced repurchase program, the Company may purchase up to $232,899 of shares of its common stock by June 30, 2009. The Company presently has 17,261,777 shares of common stock outstanding which includes 623,609 shares in treasury.

About Online Vacation Center Holdings

Online Vacation Center Holdings Corp. is a Florida holding company, focused on building a network of diversified vacation marketers with a wide range of products that can be cross-sold to an extensive customer base. Online Vacation Center Holdings Corp. is one of the country's largest cruise retailers. Its portfolio of travel companies, including Online Vacation Center, Dunhill Vacations News and Curves Travel, allows customers to research, plan and purchase a vacation. The Company, based in Plantation, Florida, has been in business for over 30 years and became publicly traded in March 2006. Additional information can be found at www.onlinevacationcenter.com.

Forward Looking Statements

This press release contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are based upon current expectations, assumptions and projections about Online Vacation Center Holdings Corp. ("ONVC") and its industry. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors, including, but not limited to: business and economic conditions, growth trends in the travel industry; variation in customer demand for ONVC's products and services, our dependency on travel providers for their inventory and other risks described in ONVCs Annual Report on Form 10-K for fiscal 2008 filed with the SEC on March 27, 2009 and in other SEC filings. Any forward-looking statements are based on management's beliefs as of the date of this press release and we undertake no obligation to update these statements for any reason, even if new information becomes available.


ONLINE VACATION CENTER HOLDINGS CORP.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

For the Three Months Ended March 31,

2009 2008

NET REVENUES $ 2,824,743 $ 2,255,824

OPERATING EXPENSES:

Selling and marketing 680,433 987,899

General and administrative 1,142,317 1,416,182

Depreciation and amortization 119,838 87,098

OPERATING INCOME (LOSS) 882,155 (235,355 )

Interest income (expense), net 1,876 (18,694 )

Income (loss) from continuing operations
before provision (benefit) for income 884,031 (254,049 )
taxes

Provision (benefit) for income taxes 353,803 (76,642 )

Income (loss) from continuing operations 530,228 (177,407 )

DISCONTINUED OPERATIONS:

Loss from discontinued operations of
Phoenix International Publishing, LLC, net - (119,274 )
of tax

NET LOSS $ 530,228 $ (296,681 )

EARNINGS PER SHARE - Basic

Income (Loss) from continuing operations $ 0.03 $ (0.01 )

(Loss) from discontinued operations $ - $ (0.01 )

Net Income (Loss) $ 0.03 $ (0.02 )

Weighted average shares outstanding - 17,257,406 18,496,845
Basic

EARNINGS PER SHARE - Diluted

Income (Loss) from continuing operations $ 0.03 $ (0.01 )

(Loss) from discontinued operations $ - $ (0.01 )

Net Income (Loss) $ 0.03 $ (0.02 )

Weighted average shares outstanding - 17,257,406 18,496,845
Diluted




ONLINE VACATION CENTER HOLDINGS CORP.

CONDENSED CONSOLIDATED BALANCE SHEETS

March 31, December 31,

2009 2008

(Unaudited) (Audited)

ASSETS

CURRENT ASSETS

Cash and cash equivalents $ 2,177,387 $ 1,693,447

Accounts receivable, net 938,545 1,236,109

Deposits and prepaid items 472,758 733,000

Deferred tax asset, net 27,672

Total Current Assets 3,588,690 3,690,228

Restricted cash 63,000 63,000

Property and equipment, net 131,759 140,285

Deferred tax asset, net 27,210 -

Intangible assets, net 1,137,816 1,116,613

Goodwill 1,754,279 1,754,279

Other assets 51,718 58,306

Total Assets $ 6,754,472 $ 6,822,711

LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES

Accounts payable and accrued liabilities $ 1,236,302 $ 1,041,608

Deferred revenue 1,396,949 1,989,929

Notes payable and capital lease obligations, 114,327 120,287
current portion

Total Current Liabilities 2,747,578 3,151,824

Notes payable and capital lease obligations 32,358 131,609

Deferred tax liability 113,035 75,461

Total Liabilities 2,892,971 3,358,894

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS' EQUITY

Preferred stock, 1,000,000 shares authorized at - -
$.0001 par value; 0 shares issued and outstanding

Common stock, 80,000,000 shares authorized at
$.0001 par value; 17,261,777 and 17,252,777 shares 1,726 1,725
issued and outstanding

Additional paid-in capital 4,426,891 4,392,963

Accumulated deficit (375,015 ) (905,243 )

Treasury stock at cost; 373,699 shares (192,101 ) (25,628 )

Total Stockholders' Equity 3,861,501 3,463,817

Total Liabilities and Stockholders' Equity $ 6,754,472 $ 6,822,711



ONVC-F




Source: Online Vacation Center Holdings Corp.


----------------------------------------------
Online Vacation Center Holdings Corp.
Edward B. Rudner
954-377-6400
investorrelations@onlinevacationcenter.com

Investor Relations:
http://ir.onlinevacationcenter.com/

About Online Vacation Center Holdings

Online Vacation Center Holdings Corp. is a Florida holding company, focused on building a network of diversified vacation marketers with a wide range of products that can be cross-sold to an extensive customer base. Online Vacation Center Holdings Corp. is one of the country's largest cruise retailers. Its portfolio of travel companies, including Online Vacation Center, Dunhill Vacations News and Curves Travel, allows customers to research, plan and purchase a vacation. The Company, based in Plantation, Florida, has been in business for over 30 years and became publicly traded in March 2006. Additional information can be found at www.onlinevacationcenter.com.

Gross sales increased by $4,309,451 to $10,794,685, or 66% more in the third quarter of 2007 than in the same quarter of 2006.

Online Vacation Center Holdings Corp. (OTCBB: ONVC) net revenues increased by $751,088 to $2,011,236, for the three months ended September 30, 2007, or 60% more than the same period in the prior year. The increase in net revenues was driven by the combination of revenue contributions from acquisitions as well as growth in our core business. For the third quarter of 2007, income from operations was a loss of $541,359 for the three months ended September 30, 2007, compared to a loss of $346,702, or 56% more than the same period in 2006.

60% more than the same period in the prior year.

Somebody need to update this board...nice travel industry and this is in the right place for high margin products IMO

def on radar list...

almost ready to turn a profit?

Thinking about buying shares ,as they will givwe 5% discount to those who own at least 100 shares.Not bad.going to Hawaii with them in Oct & would save about $150.At todays pps that would be close to the price of shares,lol

Happy ONVC Went Public

I have purchased several cruise vacations through Online Vacation Center, and I am a happy customer! I am glad they went public - I have already bought some shares.

Anyone else out there?