OneTravel Holdings Explains AMEX Monday Halt on Trading; Stock Expected to Resume Trading Tuesday
2006年1月10日 - 11:25PM
ビジネスワイヤ(英語)
OneTravel Holdings, Inc. (AMEX: OTV), a leading online and offline
provider of travel and leisure services, announced today that
trading of the Company's common stock was halted by the American
Stock Exchange ("AMEX") at approximately noon January 9, 2006, as a
consequence of unusual volume and buying activity. The Company
reported to the AMEX that the Company had been advised that an
institutional investor had recently sold a large number of shares
into the market in the mistaken belief that the shares were
registered for resale under the Company's S-3 Registration
Statement that became effective August 3, 2005. This Registration
Statement ceased to be available for any further sales on or about
October 13, 2005, and this Registration Statement continues to not
be available for further sales. The Company believes that the
unusual volume and buying activity resulted from the investor's
purchase of shares to cover its obligation to effect settlement of
the previous sales and the fact that the public float of the
Company's shares of common stock is currently approximately 2.55
million shares. The investor has advised the Company that the
investor has now completed the purchase of a sufficient number of
shares to cover the short position resulting from the earlier sale
of unregistered shares. 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, plus the Company's ability to maintain listing
with the American Stock Exchange, which if not maintained could
have an adverse affect on the Company's stock value and liquidity.
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.
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