Humana Trans Services Holding Corp. Sells Payroll Division Subsidiary, Returns to Profitability Friday June 3, 8:00 am ET
HANOVER, Md., June 3, 2005 (PRIMEZONE) -- Humana Trans Services Holding Corporation (OTC BB:HTSC.OB - News) (http://www.humanaservices.com), announces the sale of the payroll operations of its subsidiary Humana National Program Administrators. HTSC has sold all of its contracts and employees of Humana National Program Administrators to Tri-State Employments Services of New York City. HTSC had previously entered into an agreement with Tri-State to operate the accounts of Humana National Program Administrators, effective January 1, 2005, after management recognized that they were sustaining significant losses from the operations of the subsidiary in Kingston, Pa. ADVERTISEMENT
With the sale of these assets to Tri-State's division, R & D Staffing, HTSC will eliminate significant losses, and operating expenses on a go forward basis and enable HTSC to refocus its attention back to their core business of Staffing and Recruitment. HTSC will no longer be in the business of processing payroll and risk management. With the refocused business of HTSC and its staffing and recruitment business in Hanover, Maryland doing well and the ability to enjoy significant growth over the next several months to the next several years. Management feels with the ``cleaned-up'' balance sheet, significantly reduced operating expenses and the expectations of growth in our staffing unit, HTSC feels this is the first step on the road to recovery. Humana Trans Services is currently on track to exceed $6,000,000 in revenues and regain profitability in FY2005.
Ron Shapps, Chairman of the Board, stated, ``Obviously, this is only the first step of many we intend to take to turn the Company around, and we have a re-energized spirit and agenda, and we intend to focus solely on our core business and niche markets to move on the road to recovery and success in short order.''
About Humana Trans Services Holding Corporation
Established in 2001, Humana is a fully reporting, publicly traded company listed currently on the over-the-counter (OTC) market under the symbol ``HTSC''. The company is primarily engaged in employee leasing and recruitment services in five states and maintains its corporate offices in Hanover, Md., with operations in the Northeast and Florida. HTSC currently provides human resource (HR) outsourcing principally to the transportation industry and to leading Fortune 500 companies including Cardinal Health, Penske Logistics and Royal Ahold.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet or distribution services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation, foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words ``intend,'' ``expect,'' ``should,'' ``project,'' and ``anticipate,'' and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they were made.
Contact:
Humana Trans Services Holding Corporation Ron Shapps 845-368-3449
-------------------------------------------------------------------------------- Source: Humana Trans Services Holding Corporation
Humana Trans Services Holding Corp. Announces AccountAbilities Subsidiary Thursday June 9, 1:00 pm ET
HANOVER, Md., June 9, 2005 (PRIMEZONE) -- Humana Trans Services Holding Corporation (Other OTC:HTSC.PK - News) (http://www.humanaservices.com) is pleased to announce the formation of AccountAbilities, a new subsidiary to operate as an accounting staffing group. The group will be headed by Allan Hartley who will serve as President of the new subsidiary. Mr. Hartley has been in the Accounting Placement business over 20 years. He has worked with national companies, Robert Half (RHI) and KForce (KFRC), in executive positions and is the creator of the AccountAbilities business model and concept. ADVERTISEMENT
AccountAbilities will be positioned in CPA firms around the country. The business model of AccountAbilities developed by Mr. Hartley is similar to that of Resources Connections, Inc. (``RECN''), and Creative Financial Staffing. AccountAbilities will take advantage of the reputation of the CPA firm in their marketplace. The CPA firm through AccountAbilities will be able to offer staffing services in their marketplace and create a profit center. This will differentiate not only AccountAbilities but also the CPA firm in the marketplace. Mr. Hartley projects that AccountAbilities will be in five cities before the end of calendar 2005. The potential revenue for AccountAbilities is approximately $2,000,000 for each office for just the accounting staffing, without adding in any other professional staffing areas.
Allan Hartley, President of AccountAbilities stated, ``I am very excited joining the HTSC organization and felt with HTSC support structure we could shortly become a national player in the Accounting Field.'' Hartley added, ``AccountAbililities will take advantage of the CPA firms reputation in its local marketplace. The CPA firm through AccountAbilities will be able to offer staffing services in their marketplace and create a profit center. This will not only differentiate AccountAbilities but the CPA firm as well.''
Ronald Shapps, Chairman of the Board stated, ``We are really pleased that we were able to hire someone of Mr. Hartley's caliber. Mr. Hartley is the creator of the AccountAbilities concept and with his strong experience in the accounting and staffing fields and we are very excited with him joining our team. This is the first step in repositioning HTSC for the future. We are going to build on the professional staffing services platform and start with the focus on accounting staffing.''
About Humana Trans Services Holding Corporation
Established in 2001, Humana is a fully reporting, publicly traded company listed currently on the over-the-counter (OTC) market under the symbol ``HTSC.'' The company is primarily engaged in employee leasing and recruitment services in five states and maintains its corporate offices in Hanover, MD, with operations in the Northeast and Florida. HTSC currently provides human resource (HR) outsourcing principally to the transportation industry and to leading Fortune 500 companies including Cardinal Health, Penske Logistics and Royal Ahold.
Humans is now attempting to enter the professional staffing industry, such as Accounting and Legal staff, engineers, architects and other professional areas.
The statements which are not historical facts contained in this press release are forward looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet or distribution services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation, foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words ``intend,'' ``expect,'' ``should,'' ``project,'' and ``anticipate,'' and similar expressions identify forward looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date they were made.
Contact:
Humana Trans Services Holding Corporation Ron Shapps (845) 368-3449
-------------------------------------------------------------------------------- Source: Humana Trans Services Holding Corporation
Humana Trans Services Holding Corp. Signs Agreement with Jeff Raymond of Pylon Management to Advisory Board and Consulting Agreement Tuesday June 14, 9:00 am ET
HANOVER, Md., June 14, 2005 (PRIMEZONE) -- Humana Trans Services Holding Corporation (Other OTC:HTSC.PK - News) (http://www.humanaservices.com), is pleased to announce that Jeff Raymond of Pylon Management, Inc., located in Manalapan, New Jersey has joined Humana's Management Advisory Committee and is to consult management in all phases of management of the Company, including, assessing current operations, assessing and overseeing all acquisitions and growth strategies, as well as streamlining all back-office operations into a central operation center in New Jersey, that the Company is already seeking to accomplish. ADVERTISEMENT
Mr. Raymond's duties will also include assisting Humana to pursue its plans to focus solely on the Staffing and recruitment Industry, and aside from the previously stated duties, what Humana is most excited about, is Mr. Raymond's acquisition expertise and vision he has for our growth strategy. In addition, Mr. Raymond is currently in negotiations with two Northeast US based staffing and recruitment companies with combined revenues totaling approximately $20 million annually. Details of the potential acquisitions will be disclosed over the next several weeks if the acquisition plans proceed.
Currently, Mr. Raymond, through Pylon Management, is a consultant to senior management of large national staffing company with revenues of over $100 million. Mr. Raymond, through Pylon Management, also is a consultant to a couple of smaller staffing companies.
Ronald Shapps, Chairman of the Board stated, ``We are extremely excited with the addition of Mr. Raymond to the Humana Trans Services team. His vision and expertise is vital and missing ingredient to the turnaround and upward strategy for our future.''
About Humana Trans Services Holding Corporation
Established in 2001, Humana is a fully reporting, publicly traded company listed currently on the Pink Sheets under the symbol ``HTSC''. The company is now attempting to enter the professional staffing industry, such as Accounting and Legal staff, engineers, architects and other professional areas.
The statements which are not historical facts contained in this press release are forward looking statements that involve certain known and unknown risks and uncertainties, including but not limited to, changes in the market for Internet or distribution services, regulatory and technological changes, economic factors, increased competition, foreign currency devaluation, foreign market risk, and the nature of supplier of customer arrangements which become available to the Company in the future. The Company's actual results may differ materially from the results discussed in or implied by any forward-looking statement. The words ``intend,'' ``expect,'' ``should,'' ``project,'' and ``anticipate,'' and similar expressions identify forward looking statements. Readers are cautioned not to place undue reliance on these forward looking statements which speak only as of the date they were made.
Contact: Humana Trans Services Holding Corporation Ron Shapps (845) 368-3449
-------------------------------------------------------------------------------- Source: Humana Trans Services Holding Corporation
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