Ken Chua,
president of Oriens Travel & Hotel Management, today shared a comprehensive
update via a corporate blog post. We have posted the message below in its
entirety.
Fellow
Shareholders of Oriens Travel & Hotel Management,
Today it
gives us great pleasure to inform you all that our trip to Costa Rica [last
week] was much more successful than we could have ever imagined it would be.
That visit helped us to solidify what we have envisioned could be our role in
the rapidly growing tourist destination market of Central America’s Jaco Beach,
in beautiful Costa Rica.
Last week,
we released press indicating that we’d be making this unscheduled update. The
reason being, while the team and I were in Costa Rica, something unexpectedly
happened. We were graciously welcomed by some of the Country’s larger financial
players in their offerings to us… opportunities not originally anticipated
while on our trip. It completely changed the scope and purpose of our visit,
laying the foundation for what we are about to do.
Through
newly forged relationships, OTHM has begun to cultivate opportunities that have
already begun to change the corporate paradigm; dramatically evolving our
financial structure and economic outlook. In principle, we have added millions
of dollars in hard asset values and secured three additional real estate
prospects – all of which we expect to finally be able to make official
announcements for and provide pictures. We have aligned ourselves with
suitable, traditional, asset based lenders, which have afforded us the ability
to establish a viable and achievable economic growth plan for our Company, in
both Central America and the U.S. Having already obtained smaller, non-toxic,
bridge capital financing through our Costa Rican partners, we have begun to
leverage new banking relationships which have afforded us the ability to meet
certain local obligations.
Our soon
to be launched new FROL (Friendly Reservation Online) system has tentatively
found an outlet whereby it will have the ability to begin booking stays for
approximately 200 units in Costa Rica. Based on current discussions, this
number has the potential to double within the next year [2015]. While this will
not always be the case, in this particular instance, where FROL goes, our
management operations will follow.
The soon
to be newly launched, branding and management program of Hotel PURE, will take
center stage… and not just in Jaco – although this is where we will begin. We
do expect to rapidly ramp up operations with the assistance of our newly
forming alliances.
Further,
due to our inherently deep connections in China – with affluent investors – we
have in principle, struck a relationship with a well-heeled investor, to assist
with the sales of the higher-end properties. These properties will become a
part of the FROL roster, if these buyers wish to monetize their investments.
Of course,
in all cases, we will still have to prove ourselves to the market’s major
players. To this, we have a long way to go, with a lot of work ahead of us.
However, the opportunity to do all of this, has been sincerely extended to us.
This good
fortune my friends, is due to our strong associated partnership with a
well-respected and highly valued participant in the R.E. and hospitality markets
within this country.
Amongst
several acquisitions slated to be made by the close of summer, if all goes well
and according to plan, we are soon to make a significantly positive adjustment
to our overall organization.
We will
bring on a new executive/director (Costa Rican born native) to assist us in
navigating the real estate market, as well as grow our online electronic
booking engine. We will also look to make very positive cap table modifications
to prepare for significantly anticipated value-add opportunities. Such
value-add opportunities include seven figure traditional bridge capital
financing, eight figure non-toxic equity financing, corporate acquisitions,
managerial add-ons, and most important… an increased value in our actual and
projected financials. Preparations would also include deepening the pending
authorized share reduction, reducing/adjusting/exchanging current outstanding
toxic related debt and organizing our cap table in such a way that it is better
reflective of our true intrinsic value.
These
exciting times will be attached to an audit we expect to get underway shortly.
The auditing task will be headed by the firm of Malone & Bailey; once the
engagement has been formally consummated by payment. We also anticipate naming
a new CFO to assist with this process, as well as broadening our legal team to
help effectuate various structural options – such as the “up-list,” shareholder
warrants, rights offerings, and other beneficial processes. The intent is to
quail dilution, while securing capital in hopes of spawning financial growth by
turning over a nice piece of these mechanics to shareholders.
If all
continues on the current path, and we are successful with reaching our
milestones, I can almost assure our stakeholders, we will be a completely
different organization by the close of this year [2014]. We will be a
significantly more valuable company by 2016 and certainly, should all come to
pass… recognized as a major player within the next 24 months. Our goal is to
build a valuable portfolio of real estate, establish a household brand and
develop a regional booking engine platform that can be spun out and sold to the
Expedia/Priceline’s of the World.
Along the
way, we will make decisions that are good, bad and/or indifferent. We will however
strive to make many of our stakeholders happy most of the times, doing our very
best to limit disappointing moments to a very few passing memories. Everything
we will embark upon at Oriens over the next three months, will be for the
greater good of the company and overall value of our shareholders for years to
come.
Please
understand, every acquisition will come with new demands. Every financing will
be accompanied by some cost. But at least my friends, we have come to a place
where these considerations are real and present, and we gladly welcome the
challenge! This team and our shareholders have come a long way together.
If there
is anything our original merger/acquisition prospect taught us, it’s just how
easily the ground can shift right under your feet. Therefore, our next few
upcoming announcements are aimed to be predominately event driven. This is
exciting for us, as we most certainly would like to limit the “forward looking”
nonsense and stick to delivering actual and quantifiable business achievements.
If all
continues well…, and we close out this week as anticipated…, we believe that
the next few announcements over the upcoming two weeks, will awe and amaze.
On behalf
of Oriens and our team, we thank you very much for all of your support.
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