Onetravel (AMEX:OTV)
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From Jun 2019 to Jun 2024
- Company expects to comply with AMEX requirement well in advance
of the December date
OneTravel Holdings, Inc. (AMEX:OTV), a leading online and offline
provider of travel and leisure services announced that it has received
a notice of a failure to satisfy continued listing standards from the
America Stock Exchange ("AMEX") in connection with the failure of OTV
to timely file its Annual Report on Form 10-K for the fiscal year
ended June 30, 2005. The notice requires that OTV contact the AMEX
verbally on or before October 26, 2005, which the Company has done.
The notice also requires that the Company submit a written plan to
AMEX by November 2, 2005 explaining the actions the Company will take
to ensure compliance on or before December 12, 2005. According to the
letter, OTV will be in compliance at such time as it files the Form
10-K
The Company is committed to providing the written plan to the AMEX
prior to the required date and fully expects to have the Form 10-K
filed well in advance of the December 12, 2005 deadline.
For further details please refer to the Company's 8K filing on
this subject.
About OneTravel Holdings, Inc. (AMEX:OTV)
OneTravel Holdings, Inc. (www.onetravelholdings.com) derives all
of its revenues from its travel business subsidiaries, Farequest
Holdings, Inc., operating under the name 1-800-CHEAPSEATS
(www.cheapseats.com) and OneTravel, Inc. (www.onetravel.com), both of
which are leading online and offline providers of a full range of
travel services, and FS SunTours, Inc., which sells leisure and
vacation travel packages under the SunTrips(R) brand
(www.suntrips.com). The Company derives additional revenue from
operating other travel related web sites including
www.discounthotels.com and www.11thhour.com.
Statements in this news release about anticipated or expected
future revenue or shareholder value growth or expressions of future
goals or objectives, including statements regarding market conditions
or whether current plans to grow and strengthen the Company's business
will be implemented or accomplished, are forward-looking statements
within the meaning of Section 21E of the Securities Exchange Act of
1934, as amended. When used in this release and documents, the words
"anticipate", "believe", "estimate", "expect" and similar expressions,
as they relate to the Company or its management, are intended to
identify such forward-looking statements, but are not the exclusive
means of identifying these statements. All forward-looking statements
in this release are based upon information available to the Company on
the date of this release. Any forward-looking statements involve risks
and uncertainties, including the risk that the Company will be unable
to grow or strengthen its business due to a lack of capital or a
change in market demand for its products and services or to fully or
effectively integrate all business units or the inability to realize
anticipated cost savings or revenue and stockholder value growth
opportunities associated with the acquisitions of Farequest Holdings,
Inc. and OneTravel, Inc. The Company has previously mentioned in
conference calls that gross bookings are not equal to gross revenues
under generally accepted accounting principles, so no inference can be
made about profitability based on gross bookings unless expressly
stated by the Company. There is also no certainty that the Company
will be successful in its quest to secure strategic alliances in its
efforts to close the sale of the SunTrips business. The Company is
also subject to those risks and uncertainties described in the
Company's filings with the U.S. Securities and Exchange Commission
("SEC"), including the Company's historical losses and negative cash
flow, its need for additional capital, including to finance the
$12,500,000 promissory notes payable to the former stockholders of
OneTravel, Inc., and that future financing, if available, will dilute
the Company's current common stockholders. Additionally,
forward-looking statements concerning the performance of the travel
and leisure industry are based on current market conditions and risks,
which may change as the result of certain regulatory, political, or
economic events, a shift in consumer travel preferences, as well as
those risks and uncertainties described in the Company's SEC filings,
which could cause actual events or results to differ materially from
the events or results described in the forward-looking statements,
whether as a result of new information, future events or otherwise.
Readers are cautioned not to place undue reliance on these
forward-looking statements. For a complete description of the items
approved at the annual stockholder's meeting, the Company's proxy
statement is available for viewing in the Company's SEC filings.