|By Marketwired .||
|August 11, 2014 08:04 AM EDT||
LAS VEGAS, NV -- (Marketwired) -- 08/11/14 -- Oriens Travel & Hotel Management Corp. (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, announced today that on the heels of retaining MaloneBailey, LLP, to audit the Company's financials, Oriens has set a course to meet the requirements of the 1934 Act, as a means to up-list to a more equitable exchange upon the completion of the audit. This decision reflects what management ultimately anticipates it will see by the close of the third quarter -- a dramatically transformed corporate confidence, supported by substantiated values.
"We are confident that the completion of our first international acquisition is imminent," stated Ken Chua, President of Oriens Travel & Hotel Management. "I will be traveling with our team once again to Central America this month, looking to conclude pending matters. It is only appropriate that we immediately plot a course to up-list and take our Company to the next level. This first international purchase alone will positively impact the intrinsic value of Oriens dramatically."
At present, the Company has only announced formally [publicly], the pending acquisition of BW Point Condominium Trust LLC SRL's interest in the 15 story, forty-four unit (42 two-bedroom apartments & 2 three-bedroom penthouses) beach front condo/hotel building at Costa Rica's Jaco Beach. However, slight references have been made previously, to other transactions simultaneously transpiring. Management indicated that all of the Costa Rican opportunities nicely complement the re-launch of both FROL (Friendly Reservation Online) and the Company's hotel brand. This, while packing on millions in additional asset values and immediate revenues for viable and exceptionally positive cash flows.
Mr. Chua continued, "If all goes well, we anticipate securing assets valued at multiples more than what was originally expected from the previously intended merger/acquisition. It has been a trying year to say the least, but Oriens has taken full control of its financial future. We have every intention of entering 2015 as a 'fully reporting' Company, substantiated by tens of millions of dollars in assets and revenue potential. This is the entire purpose of retaining the auditor. We are getting ready for a period of explosive growth and dramatic returns that will be transparent and absolutely quantifiable by shareholders."
The Company will continue providing the fullest disclosure and highest level of transparency possible through the OTC Markets by maintaining its 'Current Filer' status. However, management is confident that they will only do so for a maximum of two additional quarterly filings (2nd & 3rd quarters). Thereafter, management expects that with the completion of the audit, Oriens will file Form 10, meet the requirements of the 1934 Act, and report Q1 (2015) as a Fully Reporting Company.
"This is the beginning of our journey to the Nasdaq Capital Markets," continued Chua. "We are more than excited that the audit process has been initiated. The results should be impressive enough to expand our up-list options as well as those strategies being explored to aggressively spur shareholder potential."
The Company will provide a summary update of its up-list plans. This will include debt restructuring, capitalization modifications, and aggressive strategies to substantially increase upside potential through shareholder programs which may incorporate warrants, equity exchange, rights offering, etc.
About Oriens Travel & Hotel Management Corp. (www.orienscorp.com) (PINKSHEETS: OTHM) engages in the operation of hotels and resorts primarily in the United States and Central America under the Hotel PURE brand. The company also operates Friendly Reservations Online, a proprietary and sophisticated online booking system designed to execute reservations capture through Hotel PURE consumer facing websites, as well as individual hotel websites operated by Oriens on behalf of hotels branded under the Hotel PURE brand. Oriens is based in Las Vegas, Nevada.
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.
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