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[fast.money]

$PNOW Pure and Softon Talk Equity Interest in Oveedia Development

http://www.prnewswire.com/news-releases/pure-and-softon-talk-equity-interest-in-oveedia-development-300149097.html

LAS VEGAS, Sept. 25, 2015 /PRNewswire/ -- Pure Hospitality Solutions, Inc., (PNOW) announced today, that during a six day session of meetings in the USA, where PURE's management team, along with the executive team from Softon ITG, met with U.S. based consultants and investors in Fort Lauderdale, Florida, the two companies explored Softon taking an equity interest in PNOW [in lieu of cash payment] for the continued development of Oveedia, after the upcoming beta launch (beta testing).

"Softon is a rapidly growing software development company, with a portfolio of clients that pay them well, for the amazing job that they do," stated Melvin Pereira, President and CEO of Pure Hospitality Solutions, Inc. "The fact that they'd consider taking an equity position for the continued development of Oveedia, is a true testament not only to their belief in us, but their belief in the tremendous opportunity Oveedia represents."

Pure Hospitality and Softon's meeting in the USA covered the upcoming beta launch of Oveedia, the official roll-out [2nd phase], financing the commercial marketing and advertising effort, and, several growth/acquisition possibilities. Meetings were then rounded out by Softon's equity stake consideration, for the ongoing development of Oveedia. All parties applauded this action knowing, "just how much faster Oveedia could reach critical mass, should Softon have a vested interest in Oveedia," continued Mr. Pereira.

Pure Hospitality and Softon's meeting in the USA did not yet determine what portion of Softon's future compensation will be cash vs. equity (all payments have been cash to date). However, given the size of the Oveedia project, the commitment made by Softon could be significant. Of course, considering the multi-million dollar and billion dollar acquisitions of similar but less dynamic OTA's, as well as the incredible stock valuations achieved within the marketplace, Softon's bet on Oveedia could be a major windfall for the software developer and PURE's investors.

Mr. Pereira concluded, "Oveedia's beta launch is just the beginning of what we, and many others, believe will become a major Central America-Caribbean online travel hub."

With less than 15 days from the conclusion of Pure Hospitality and Softon's meeting in the USA, Oveedia's beta launch will commence. The excitement levels at and around both companies are high.