Summary: ON OCTOBER 17, 2001, TICKETPLANET.COM DECLARED BANKRUPCY IN THE
STATE OF NEW YORK. MR. MANDELL OWNS OVER 25% OF THE STOCK
WHICH MAKES HIM A CONTROL PERSON. MR. MANDELL WAS NOT AN
OFFICER OF THE COMPANY.
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TravelPlanet.com
I would like to put in a comment about a travel website called "TicketPlanet.com" They are the worst travel site I’ve ever tried to use. They have "false" flights and prices in their site, even after you’ve put in your dates of travel, they still show up that these are real. They even take you all the way through to entering your payment details. The only time you find out that there is no such flight, or at least not at this price, is when you’ve waited quite some time for the confirmation to come through on your email address and finally call the 800 number to find out what’s going on. I experienced this, and , thinking that I had the flights after spending at least 1/2 hour on the site, I arranged with my work and my husbands work to have the time off-I arranged for a ride to the airport, and I had booked a hotel for the arrival city-all this time assuming the flights were there and we were actually going. Well, you can imagine how upset and disappointed I was in finding out that those flights didn’t exist (they refused to use these words "non-existant", but didn’t come up with any better words in their place). I then emailed customer service. They emailed me back stating that I had a bad attitude in life. Well, I suppose at that stage, my attitude WAS far from great. I have never had this happen to me in all the trips that I normally book on internet sites, although this was a FIRST (and last) for this particular website!What a shame that this type of business exists-it makes people very fearful about using these-especially when everybody hears from me about where I do my booking--they certainly won’t be using TravelPlanet.com!!!!!
Submitted By: Anonymous
216.239.51.100.
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Sky Capital Reaches Agreement With TicketPlanet.com
May 25, 2001 (NEW YORK, NY) - Sky Capital, Ltd., a recently formed company that intends to become a registered broker-dealer and provide merchant and investment banking services to start-up and early stage companies, today announced that it has been retained by TicketPlanet.com Inc, a San Francisco, California based provider of travel services, to provide TicketPlanet with operational and financial consulting services.
As part of its consulting fee, Sky has received a 28% equity interest in TicketPlanet. Sky has also formed a subsidiary which has provided TicketPlanet with a senior secured loan of $250,000 and which expects to advance additional financing to TicketPlanet.
Ross H. Mandell, President of Sky Capital, said, "This is the initial step in our development. We believe our relationship with TicketPlanet will validate the need for the full range of services we intend to provide to early stage companies and of our business model. I have been involved with TicketPlanet for several years and believe that with the addition of the added focus and services Sky can bring to TicketPlanet, TicketPlanet can become a premier provider of travel related services by telephone and over the Internet."
In order to help Sky with the further development of TicketPlanet and its product offerings, the Company has retained Michael Recca, who has broad experience in advising, assisting and operating small growing companies, particularly those needing to better manage limited financial and other resources. Mr. Mandell stated, "I am sure that Mike's wealth of experience will be invaluable to TicketPlanet."
About Sky Capital Holdings, Ltd.
Sky Capital Holdings, Ltd. is a holding company that intends to provide a full range of financial services, including asset management, securities brokerage, and investment banking services through its subsidiaries. Headquartered in the heart of New York's financial district, Sky Capital Holdings, Ltd. is located at 110 Wall Street, New York, NY 10005. For more information, please visit www.SkyCapitalHoldings.com.
Forward-Looking Statements
From time to time, information provided by the Company, statements made by its employees or information may contain statements, which are so-called "forward-looking statements" and not historical facts. Forward-looking statements can be identified by the use of words such as "believe," "expect," "intend," "anticipate," "in our opinion," and similar words or variations. These forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company's actual future results may differ significantly from those stated in any forward-looking statements. Forward-looking statements involve a number of risks and uncertainties, including, but not limited to, a lack of operating history, the possible need to modify its business model due to a variety of factors, its lack of history in providing the kind of services it intends to provide and the failure to manage growth effectively. |
