Privileged World Travel Club, Inc. "State of the Company"
January 27 2014 - 8:00AM
Marketwired
Privileged World Travel Club, Inc. "State of the Company"
TIBURON, CA--(Marketwired - Jan 27, 2014) - Privileged World
Travel Club, Inc. (OTCQB: PVCL) announced today that the "State of
the Company" has made significant progress and the Company
management wishes to detail to the shareholders the current
success.
A. Recently, Privileged shares are now DTC Eligible, allowing
the shareholders to electronically trade their shares.
B. Following the takeover announcement of Triton Distribution
Systems, Inc., all licenses for the technology are now null and
void. Privileged now owns the technology outright and the license
fees of $2,200,000 are now cancelled. This will be reflected in the
balance sheet as part of the Company assets. Based on an Appraisal
and Valuation Report issued in August 29, 2011 the technology that
the Company took over is valued at $30 Million. This value will
also be reflected on the Company's balance sheet.
C. Privileged will acquire all the research and development tax credits that Triton generated since 2006 that are estimated to be
approximately $12 Million.
D. Following the takeover, Triton will get 4,062,500 Shares of
Privileged World Travel Club, Inc. (PVCL), priced at $1 a share,
these shares will be disbursed to all the Triton shareholders as a
dividend. In addition there are 4,062,500 Privileged shares which
will be distributed out to both current shareholders of Privileged
and new investors. 1,015,625 shares of Privileged will be
distributed equally to all the Privileged shareholders of record in
a form of a dividend. The remaining 3,046,875 shares of
Privileged will be distributed to new shareholders that wish to
invest in Privileged. For every 10 shares purchased in Privileged
in the open market, the Company will add one share as an upfront
dividend until all the 3,046,875 shares are exhausted.
E. Privileged will commence operations with China in the first
quarter of 2014. It is expected to transport 97,344 Chinese
tourists annually to visit 9 cities in the United States. The gross
revenue generated monthly by Privileged from this program is
$811,200, or annually $9,734,400. Therefore the Company has decided
to establish a Privileged office of coordination in Beijing, China
to properly handle all the travelers from China crossing the
Pacific to the United States. It is estimated that this program
will last five years, based on the signed contracts signed with the
organizers in China.
F. Furthermore Privileged will continue the conversion of new
members from the previously purchased Membership
List. Privileged acquired a 9 million Membership list of
individual names from Triton Distribution Systems, Inc., based on a
reported Membership List Purchase Agreement that was executed
October 10, 2012 and was reported in the S-1 registration form that
went effective January 18, 2013.
G. Privileged management wishes to inform all shareholders that
the Company is well poised and structured to succeed. The Company's
capital structure is as follows:
- Shares Outstanding: 26,036,525
- Float: 11,445,219
- Authorized Shares: 100,000,000
The Company wishes to advise all shareholders that the Company
is engaged in other activities that will be properly reported
publicly in due course.
ABOUT PRIVILEGED. www.privilegedwtc.com
The business of Privileged is to provide exclusive travel
services to persons ("Members") who elect to join the prestigious
Privileged World Travel Club (the "Privileged Travel Club") and
international travelers bound for the United
States. Immediately after joining, Members of the Privileged
Travel Club can begin enjoying the services their membership
offers. The Company provides luxury services with a high standard
of value. Company management feels that the prices offered by the
club are reasonable and very attainable by all Members to travel
any time they wish. The Company is specially focused to offer its
Members luxury membership travel products and services at specially
discounted prices. The Company's concept is to offer services to a
larger audience and thereby increase the reach to more
markets.
FORWARD-LOOKING STATEMENTS
This news release includes forward-looking
statements. While these statements are made to convey to the
public the company's
progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent
management's opinion. The company's
operations and business prospects are always subject to risk and uncertainties.
Triton disclaims any obligation or intention to update any
forward-looking statement.
Contact: Privileged World Travel Club, Inc.
info@privilegedwtc.com
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