Oriens Travel & Hotel Management Corp. (OTC Pink: OTHM) (PINKSHEETS: OTHM), the Next Generation International Hotel Brand Operator, operating its Hotel PURE brand, announced today that the Company has officially retained the auditing services of MaloneBailey, LLP, a certified public accounting firm, to audit Oriens' financials.
Management has long indicated that initiating a PCAOB audit is the Company's absolute intention. Strategically, however, management patiently waited for an event which warranted the time and money needed to proceed. Executives suggest that a string of pending and significantly positive events are the catalyst for this action.
"Initiating the auditing process now is optimal timing, given our current position and pipeline of opportunities," stated Ken Chua, President of Oriens. "We are taking control of our destiny and future success by looking to implement a capitalization structure that we believe will ensure the continued success and growth of our Company. An audit is required to do this."
With a closing pending and new acquisitions being negotiated -- all of which reflect positive growth projections -- the audit will cover a full scope of the Company's potential.
The next steps concerning the audit and its purpose will soon be disclosed.
About Oriens Travel & Hotel Management Corp.
Oriens 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 captured 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.
For more information, visit www.orienscorp.com
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.
Investor Relations Division
SOURCE: Oriens Travel & Hotel Management Corp.