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FORM 8-K
Current Report Pursuant to
Section 13 or 15(d) of the
Securities Exchange Act of 1934
May 12, 2000
Date of Report (Date of Earliest Event Reported)
eTravelServe.com, Inc.
(Formerly Revenge Marine, Inc.)
ITEM 5. OTHER EVENTS
eTravelServe.com, Inc. (the "Company") issued several statements regarding
certain strategic business objectives. The information contained in those
statements, copies of which are attached hereto as Exhibits 99.1, 99.2 and 99.3
are incorporated herein by reference.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION
AND EXHIBITS.
c. EXHIBITS.
99.1 May 3, 2000 Press Release
99.2 May 10, 2000 Press Release
99.3 May 11, 2000 Press Release
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereto duly authorized.
ETRAVELSERVE.COM, INC..
Date: May 12, 2000 By: /s/ Paul R. Johnson
- ------------------ ------------------------
Chief Executive Officer
2
MAY 3, 2000 PRESS RELEASE
Thursday May 11, 12:49 pm Eastern Time
Company Press Release
eTravelserve.com Completes Buyback of 1,200,000 Free Trading Shares
BOCA RATON, Fla.--(BUSINESS WIRE)--May 11, 2000--Paul Johnson, President/CEO of
eTravelserve.com, Inc., www.etravelserve.com, (OTCBB:TSER - news), announced
today that the company has negotiated with certain investors to buy back
approximately 1.2 million free trading shares.
"This buyback will benefit the shareholders by increasing the percentage of
their holdings. A group of previous shareholders where holding restricted shares
that have recently become eligible for free trading and had filed their 144
`planned sale' documentation. When the company saw the `planned sale' filings,
we felt it better to negotiate with the investors rather than have a large
overhang while the company began positioning itself for the move to NASDAQ Small
Cap or National market. The first of these agreements have been reached, which
will result in a retirement of approximately 1.2 million free trading shares
representing approximately 12% of the outstanding float. The company also felt
that that negotiating with the shareholders at this time was opportune because
the company believes that the current share price is undervalued comparative to
other companies in the sector," said Johnson.
eTravelserve.com has also initiated an enhanced shareholder relations program,
which offers an "Investor Update Call", which is recorded on the 15th and last
day of every month. The recorded call will include information and updates
concerning eTravelserve.com and can be accessed at 1-877-213-9653 and entering
code 2193973. The company also offers an "email alert" which allows individuals
to register on the eTravelserve.com web site and have press releases and
investor update information automatically forwarded to their email address when
they are announced.
FOR SHAREHOLDER INFORMATION CALL STOCKBROKER RELATIONS AT
1-800-546-7950
Information in this press release contains "forward-looking statements." These
statements involve risks and uncertainties that could cause actual results to
differ materially. There is no assurance the above-described events will be
completed. There can be no assurance of the ability of the company to achieve
sales goals, obtain contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are discussed in
detail in the Company's filings with the S.E.C.
MAY 10, 2000 PRESS RELEASE
Wednesday May 10, 11:57 am Eastern Time
Company Press Release
eTravelserve.com Announces Retirement of 40 million shares
BOCA RATON, Fla.--(BUSINESS WIRE)--May 10, 2000--eTravelserve.com, Inc.
www.etravelserve.com (OTCBB:TSER - news), announced today that agreements have
been reached with Paul Johnson, CEO/President of eTravelserve.com and Allied
Capital Corp. to transfer 40 million shares of their eTravelserve.com holdings
to the company for retirement to the treasury.
The transfer and retirement will become effective June 1st, 2000.
"We believe that the retirement of almost 40% of the outstanding shares will be
beneficial to all shareholders and will help to position the company to climb
the last step towards bringing etravelserve.com to the NASDAQ small cap or NMS
markets. We have been happy with the company's development and feel that this
decision will benefit everybody over the long term," said Desai Robinson,
President of Allied Capital Corp.
An agreement was also reached today between Allied Capital Corp. and Paul
Johnson CEO/President of eTravelserve.com. In the agreement Paul Johnson has
personally purchased 10,606,931 shares of eTravelserve.com stock from Allied
Capital Corp. for $4,242,772.40.
eTravelserve.com has also reached an agreement with Allied Capital Corp.
concerning a lock-up provision for the approximately 6,000,000 million shares
that Allied Capital Corp. will retain after the cancellation of shares to the
treasury and the purchase of shares by Paul Johnson. The lock provision dictates
that Allied Capital can only sell a maximum of 5,000 shares per day over the
next 5 years.
"The decision to buy more than 10,000,000 shares from Allied Capital Corp. was
an easy decision to make considering the company is just beginning to execute
the business plan. I felt that purchasing Allied's restricted shares at a
discount to where the stock trades today was an opportunity that could not be
passed up. Allied Capital Corp. had a holding of approximately 41,600,000 shares
of eTravelserve.com stock. Allied has agreed to transfer 25 million shares to
the company for retirement and sell approximately 10,600,000 shares to myself.
The remaining 6,000,000 shares that Allied Capital Corp. holds has been placed
into a very well spread out lock up agreement. An additional 15,000,000 shares
will be transferred to the company from me for retirement to the treasury. The
retirement of this large percentage of the outstanding float will benefit the
shareholders and should produce more investor interest in the company," said
Paul Johnson President/CEO of eTravelserve.com.
FOR SHAREHOLDER INFORMATION CALL STOCKBROKER RELATIONS AT
1-800-546-7950
Information in this press release contains "forward-looking statements." These
statements involve risks and uncertainties that could cause actual results to
differ materially. There is no assurance the above-described events will be
completed. There can be no assurance of the ability of the company to achieve
sales goals, obtain contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are discussed in
detail in the Company's filings with the S.E.C.
MAY 11, 2000 PRESS RELEASE
Wednesday May 3, 10:09 am Eastern Time
Company Press Release
eTravelserve.com To Acquire New York Travel Wholesaler
MIAMI--(BUSINESS WIRE)--May 3, 2000--Paul Johnson, President/CEO of
eTravelserve.com, Inc. www.etravelserve.com (OTCBB:TSER - news), announced today
that the company has completed an agreement for the purchase of Caribbean
Concepts, a New York based travel wholesaler.
"Caribbean Concepts has been in business for over 35 years and has negotiated
exclusive contracts with over 200 resorts, hotels, villas and condos throughout
the Caribbean. The acquisition of this wholesale firm will allow
eTravelserve.com to offer `exclusive' consumer packages as well as create
wholesale products for travel agencies and tour companies worldwide. This new
added dimension can position eTravelserve.com as a market leader in Caribbean
travel," said Johnson.
eTravelserve.com has also initiated an enhanced shareholder relations program,
which offers an "Investor Update Call", which is recorded on the 15th and last
day of every month. The recorded call will include information and updates
concerning eTravelserve.com and can be accessed at 1-877-213-9653 and entering
code No. 2193973. The company also offers an "email alert" which allows
individuals to register on the eTravelserve.com web site and have press releases
and investor update information automatically forwarded to their email address
when they are announced.
FOR SHAREHOLDER INFORMATION CALL STOCKBROKER RELATIONS AT
1-800-546-7950
Information in this press release contains "forward-looking statements." These
statements involve risks and uncertainties that could cause actual results to
differ materially. There is no assurance the above-described events will be
completed. There can be no assurance of the ability of the company to achieve
sales goals, obtain contracts or financing, consummate acquisitions or achieve
profitability in the future. The above and additional factors are discussed in
detail in the Company's filings with the S.E.C. |
