Market Overview

Pro Travel Network Inc., to revive stock ticker PTVL and become current reporting on OTC Markets

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Fresno, Ca., Feb. 27, 2020 (GLOBE NEWSWIRE) -- Pro Travel Network Inc., (PTVL) is a 17-year old publicly traded Seller of Travel operating as a Host Agency. Pro Travel Network provides a web-based business platform including, websites, accounting, training, marketing, licensing and supplier contracts for Independent Travel Advisors. Pro Travel Network also operates in numerous segments of the travel industry, including corporate travel management, co-branded joint ventures, membership platforms, sports and entertainment events, retail travel sales and live destination events.

After 10 years of being a dark and defunct public stock, Pro Travel Network Inc., is in the process of reviving the PTVL stock and becoming current on the OTC Markets. PTVL last filed in 2009 during the middle of the real estate crash due to lack of funds as the travel business was taking a hit for obvious reasons as well. The high costs of being a fully reporting company led it to abandon completely any reporting regarding the stock PTVL. Although the company was no longer reporting any financials, it has still been operating non-stop and profitably since that time.

During the last ten years PTVL has produced the following annual financial numbers:

  Bookings Revenues Net Operating Profit/Loss  
2010 - $16.52M $999K $247K  
2011 - $21.76M $872K $14K  
2012 - $19.93M $2.1M $302K  
2013 - $14.1M $721K ($136K) (Founder announced Cancer)
2014 - $21.5M $1.65M $15K (Founder Died)
2015 - $22.78M $1.2M ($61K)   
2016 - $21.8M $2.0M $127K  
2017 - $22.79M $1.9M $388K  
2018 - $14.0M $1.75M $277K (JV Partnership Ended)
2019 - $8.0M $1.36M $160K  

In Q3 2014 PTVL entered into a new JV Partnership as the Founder was diagnosed with terminal cancer. That partnership resulted in increased bookings and revenues. That JV Partnership agreement ended in December 2017. Due to that ending, bookings have decreased. In 2018, PTVL appointed a new CEO and Director, Casey Musick. His 20+ years of experience as an executive and company founder in the financial, logistics and hospitality industries, lends to his abilities to lead PTVL into the next stages of operations. Since the new leadership taking over in Q1 2018, PTVL has redesigned the logo for the first time in over a decade, rebuilt all business platforms, websites and back office systems, cut costs by 30%, purchased an office building to act as the new headquarters and build equity instead of paying rent, established its first ever mission statement and a list of core values.

PTVL currently operates the corporate headquarters in Fresno, Ca and a Canadian office in Toronto, ON. PTVL is currently in late stage talks for a JV Partnership with a California State University to become its Official Travel Supplier and has begun talks with 2 other potential JV Partnership targets. As the travel industry continues to evolve so has PTVL. While currently the largest operating asset we have is the host agency division, we have launched a corporate travel management brand, a sporting and event ticket reselling brand and are in the process of building our newest brand website to streamline the booking of all inclusive packaged vacations that include meals, guided tours and activities, transfers and accommodations.

Our forward business strategy will focus around launching new brands, completing JV Partnerships, searching for other JV Partnerships with partners who have a broad audience appeal. With marketing being a key part of acquiring customers in the travel industry, PTVL is looking for creative, non-traditional ways to acquire customers such as strategic partners and cross marketing opportunities. The final piece of our business strategy is to look for strategic acquisitions within the travel industry that will vertically integrate the current operations. While also keeping an eye on acquisition opportunities that would give PTVL access to a wider audience of existing customers to cross promote products to.

PTVL holds no convertible debt, will not engage in a reverse split, has not changed its share structure since 2014 and has no plans for dilution. We are focused on building revenues thru organic avenues as well as merger & acquisition opportunities. We will look to grow aggressively but at the same time do everything possible to maintain shareholder value.

PTVL is currently in the process of getting all information current with our TA which is Pacific Stock Transfer. We have also submitted our application to OTC Markets to reestablish our account with them. We are currently searching for the correct CPA to help with preparing our financials to submit within the reporting format required. We are working diligently every day to get back current with OTC so that we may move forward upon our goals of building a broader more capable and diverse company.

Please continue to look for new filings and press releases as we continue to work towards getting current with OTC and continue to grow the business and announce new launches and partnerships.

Safe Harbor Statement: This press release includes forward-looking statements regarding future events or the future performance of the company in addition to historical information. Various factors could cause our actual results to differ materially from those anticipated. Viewers of the press release are advised to check the documents filed by the company with the Securities & Exchange Commission, including Forms 10-K & 10-Q for descriptions of risk and uncertainties related to forward-looking statements.

END OF RELEASE

  Investor Contact: Casey Musick – CEO/President
  Email: investors@protravelnetwork.com
  Twitter: @CEOPTN
  Facebook: @protravelnetwork
  Instagram: @protravelagents

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