Sunday, October 31, 2021 11:10:30 AM
IVIT News: Invicta Group Inc. Reduces Liabilities by Over $ 1,000,000
Organic Growth and Acquisitions to Fuel Growth of Company
CHICAGO, IL, Jul 15, 2008 (MARKET WIRE via COMTEX) -- Invicta Group Inc. (IVIT)
has reduced a significant amount of debt and increased assets from the recent
deal with IMAGE Worldwide, Inc. http://www.IMAGEworldwide.com (PINKSHEETS: IMGW).
The deal restructured most of Invicta's liabilities while adding assets to the
balance sheet. We have eliminated the accrued compensation of $217,754 and over
$1,250,000 of accounts payables and accrued liabilities have been terminated.
New CEO for Invicta Paul Sorkin said, "We are very pleased with the improvement
of our balance sheet for Invicta moving forward this year. The deal between IMAGE
Worldwide and Invicta is an incredible opportunity for both companies to help
cross market, cross sell, reduce overhead, and increase revenue."
Both Invicta and IMAGE will continue to increase revenues through new advertising
contracts as well as the renewal of previous contracts while exploring potential
acquisitions to help fuel growth. Sorkin also said, "Over the next few weeks, we
expect to announce several more advertising contracts that will continue to
improve our bottom line. We are also actively seeking acquisitions of businesses
that are synergistic with our business plan."
About IMAGE Worldwide, Inc.
IMAGE Worldwide, Inc. (PINKSHEETS: IMGW) is a full service interactive multimedia
marketing and advertising agency. IMAGE is vertically integrated with properties
including a concert/nightclub venue, fashion/entertainment magazine, high-end
direct mailing book, IT solutions company, along with other promotional and
marketing companies. IMAGE utilizes a combination of different forms of media and
promotions to help clients showcase and market their IMAGE in print, internet,
event planning, radio, and TV.
About Invicta Group, Inc.
INVICTA GROUP INC. is an Internet Media Company that specializes in the Travel
and Entertainment Industry. The company has a subsidiary that uses the Internet
as their media to generate revenues: Travel Hot Link links travel enthusiasts
with products to fulfill their travel and entertainment needs. Travel Hot Link
sells its Internet database of 25 million travel enthusiasts to Travel Suppliers
that want to promote their discounted travel products: airline tickets, hotel
rooms, tour packages, rental cars, cruise cabins, and more on the Internet 24/7.
There are over 50 websites but the main 5 are: http://www.Travelhotlink.com,
http://www.Cruisehotlink.com, http://www.Airhotlink.com,
http://www.Hotelhotlink.net, and http://www.Autohotlink.com.
This news release contains forward-looking statements as defined by the Private
Securities Litigation Reform Act of 1995. Forward-looking statements include
statements concerning plan, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to uncertainties and
risks including, but not limited to, product and service demand and acceptance,
changes in technology, economic conditions, the impact of competition and
pricing, government regulation, and other risks described in statements filed
from time to time with the Securities and Exchange Commission. All such
forward-looking statements whether written or oral, and whether made by or on
behalf of the Company, are expressly qualified by the cautionary statements that
may accompany the forward-looking statements. In addition, the Company disclaims
any obligation to update any forward-looking statements to reflect events or
circumstances after the date hereof.
Media Contact
info@travelhotlink.com
Investor Relations Contact
1-866-210-4671
info@travelhotlink.com
SOURCE: Invicta Group Inc.
mailto:info@travelhotlink.com
mailto:info@travelhotlink.com
Copyright 2008 Market Wire, All rights reserved.
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