MIAMI BEACH, Fla., July 7, 2005 (PRIMEZONE) -- Invicta Group Inc. (Pink Sheets:IVGA) announced today a Shareholder Update on the company.
Invicta Group is experiencing delays in completing its annual audits and also the first quarter report. The result of which has relegated Invicta to the Pink Sheets. IVGA continues to work with our auditors and hopes to have the 10K filed shortly, followed by the 3/31/05 10Q. The company will file for OTCBB trading thereafter and will work to improve our communications to the public and timely filings of its 10Q and 10K in the future. IVGA can be found online at www.pinksheets.com
Invicta Group Inc. (IVGA) depends on future sales and profits. IVGA has not been able to cover expenses on its subsidiaries in 2004, in spite of sales exceeding $10 million. The company has been under capitalized from the day it became a public company. Marketing dollars have not been available to brand the subsidiaries; also margins are to low in certain sectors of the marketplace, the high cost of staffing and running call centers, versus generating sales on the internet, has resulted in losses for the calendar year 2004.
The management team has been successful in downsizing its staff and releasing expensive employees inherited from acquisitions made in 2004, and has shut down subsidiaries that were losing money and more importantly, started a new subsidiary, Travel Hot Link; an Internet media company that sells advertising to travel suppliers online, generating revenues from advertising income on its website, www.travelhotlink.com
Invicta Group announced, 4/12/05, the launch of its newest subsidiary, Travel Hot Link, www.travelhotlink.com. The site is a B-2-C website offering discounted travel from travel suppliers worldwide. Travel Hot Link will send 10 million e-mails weekly to its e-mail database of 40 million opt-in travel enthusiasts, reaching the 40 million on a monthly basis.
Bill Forhan, CEO, stated: "We will offer travel and entertainment companies an alternative media resource to market their perishable products, last minute, via the Internet to a targeted audience of travel enthusiasts that are seeking a discounted travel product."
Our team of website builders and graphic designers has been hard at work revamping some of our existing sites and building new ones.
We have just launched our newest site, www.onlyfirstandbusiness.com . This site is dedicated to providing international airline discounts directly to the public of up to 70% on first class and business class fares on a large number of the world's most recognized airlines.
Additional information on the company will be available after the 10K is filed.