CLEVELAND, Ga., March 15, 2007 (PRIME NEWSWIRE) -- PTA Holdings, Inc. (Pink Sheets:PTAH) announced today that it has acquired a 13% stake in the New York-based real estate investment firm, Briarwood Holdings, Inc. PTA Holdings, Inc. is a publicly traded holding company value investor that is primarily engaged in the travel industry, real estate and interactive transaction based kiosks. Briarwood specializes in the investment of pre-construction multi-family and/or condo developments in Tier 1 markets throughout the United States. Briarwood's current contract portfolio consists of ten properties with a value in excess of $3,000,000.00 based upon current market prices. PTA President Ted Leverette, II remarked, "The Company is very pleased with this acquisition and looks forward to future acquisitions in this sector and other sectors." Mr. Leverette further stated that, "Growth through acquisition is one of the cornerstones of the Company's long term strategy."
About PTA Holdings, Inc.:
PTA Holdings, Inc. ("PTA") is a diversified holding company with a core focus in the travel industry. Originally, the Company was formed as an internet kiosk company for commercial transactions. The Company broadened its focus with the acquisition of Professional Travel Alliance, Inc. which paired the power of a full service travel agency, travel agent training school and a travel kiosk company.
Using the economic capital and strength from the recent commencement of trading as a public company, the Company intends to launch its Travel Kiosk in a rollout to various first tier shopping malls in the United States. The Company has received letters of interest from Fortune 500 companies to both place ads and commerce in their kiosks. The kiosks utilize state of the art technology including flexible architecture and plasma and/or LCD high definition displays. These kiosks, when fully deployed, shall generate multiple revenue streams in the forms of both advertising and point of sale.
The Company is embarking upon an "Acquisition and Roll Up" strategy in order to take advantage of the fractious business landscape currently existing with travel agencies. Management maintains that as a public entity, it is ideally positioned to initiate a "roll up" of travel agencies which it anticipates will dramatically increase the Company's revenues and net income. A secondary benefit of acquiring independent travel agencies is the ability to cross sell complementary products and services into those distribution channels with direct purchaser contact.
Forward-Looking Statements
This news release contains forward-looking statements about our business, or financial condition and prospects that reflect our assumptions and beliefs based on information currently available. We can give no assurance that the expectations indicated by such forward-looking statements will be realized. There may be other risks and circumstances that we are unable to predict. When used in this news release, words such as "believes," "expects," "intends," "plans," "anticipates," "estimates" and similar expressions are intended to identify forward-looking statements, although there may be certain forward-looking statements not accompanied by such expressions. All forward-looking statements are intended to be covered by the safe harbor created by Section 21E of the Securities Exchange Act of 1934.