Ominto, Inc. Announces Board Resignations
May 18 2018 - 8:15AM
Business Wire
Ominto, Inc. (Nasdaq: OMNT), a growth company with global
operations in the e-commerce, marketing, and entertainment
industries, today announced that Mitch Hill, Gregory Newell, Jaye
Connolly-LaBelle, Peter Harris and Gary Baughman have resigned from
its Board of Directors without disagreement.
Michael Hansen, Founder and CEO of Ominto, Inc. stated, “It has
been an honor and a privilege to work with such great leaders over
the last few years. They have played an important role in the
development of the company and we appreciate their support and
contributions. We are sincerely grateful for their dedicated
service and wish them well in their future endeavors.”
Mr. Hansen, continued, “The search has already commenced for new
members of our Board. In particular, we are pursuing leaders who
have considerable experience in the e-commerce sector and who
understand the unique requirements of a global company. We are
identifying and engaging with innovators and pioneers in online
commerce.”
About Ominto, Inc.
Ominto is a growing company with global operations in the
e-commerce, marketing, and entertainment industries. The company
owns or invests in strategic entities that provide value to its
global customer base.
Ominto is a pioneer in global Cash Back and first to market in
many regions of the world. At the core of Ominto’s business is
Dubli.com, a global consumer Cash Back e-commerce digital
marketplace. At Dubli.com or at Partner sites powered
by Ominto.com, consumers shop at their favorite stores, save
with the best coupons and deals, and earn Cash Back with each
purchase. The Ominto.com website features thousands of
brand name stores and industry-leading travel companies from around
the world, providing Cash Back savings to consumers in more than
120 countries. Ominto’s Partner Programs offer a white label
version of the Ominto.com shopping and travel website to
businesses and non-profits, providing them with a professional,
reliable web presence that builds brand loyalty with their members,
customers or constituents while earning commissions for the
organization and Cash Back for shoppers on each transaction.
For more information, please visit Ominto's corporate
website http://ominto.com.
Forward-looking Statements
This press release contains forward-looking statements that
involve substantial risks and uncertainties. These include
statements about Ominto’s expectations, beliefs, intentions or
strategies for the future, which are indicated by words or phrases
such as “anticipate,” “expect,” “intend,” “plan,” “will,”
“believe,” “projects,” “could,” “would,” “intend” and similar
expressions. You can also identify them by the fact that they do
not relate strictly to historical or current facts. The
forward-looking statements reflect Ominto’s current view about
future events and are subject to risks, uncertainties and
assumptions. Because forward-looking statements relate to the
future, by their nature, they are subject to inherent
uncertainties, risks, and changes in circumstances that are
difficult to predict. Ominto may not actually achieve the
expectations disclosed in the forward-looking statements and you
should not place undue reliance on Ominto's forward-looking
statements. These forward-looking statements involve risks and
uncertainties that could cause actual results or events to differ
materially from the expectations disclosed in the forward-looking
statements, including, but not limited to: risks related to
Ominto’s ability to continue as a going concern being in doubt;
material weaknesses in Ominto’s internal controls, Ominto’s
inability to generate enough customers or enough purchasing
activity for our shopping websites; Ominto’s inability to establish
and maintain a large growing base of Business Associates; Ominto’s
failure to adapt to technological change; increased competition;
increased operating costs; changes in legislation applicable to
Ominto’s business; material weaknesses in Ominto’s internal
controls; Ominto’s failure to improve our internal controls; and
Ominto’s inability to generate sufficient cash flows from
operations or to secure capital to enable us to maintain our
current operations or support our intended growth; along with other
risks and potential factors that could affect Ominto's business and
financial results identified in Ominto's filings with the
Securities and Exchange Commission, including its Annual Report on
Form 10-K for the fiscal year ended September 30, 2016.
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Ominto, Inc.Michael Hanseninvestorrelations@ominto.com