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Invicta Group Inc. Annual Losses Shrink MIAMI BEACH, FL -- (MARKET WIRE) -- 03/30/2006 -- Invicta Group Inc. (OTC BB: IVGA) announced today the year end financial results and filing of their 10K.
Invicta's operating losses shrunk to $891,876, plus management wrote off all Intangible Assets resulting in year end losses totaling $993,831; compared to the same period losses in 2004 totaling $3,292,955. The loss per share for 2005 were ($.005) compared to 2004 loss per share ($.055).
Invicta generated net revenues of $94,334 for 2005 compared to $639,663 for year end 2004. Invicta's revenue decline is due to the company's shortage of working capital needed to market their subsidiaries and the closing of Airplan Inc. in 2005.
The company has created a new business model and will focus as a technology and Internet Media Company under the new name of Travel Hot Link. Travel Hot Link www.travelhotlink.com will offer travel suppliers the opportunity to sell their perishable inventories to the public at a discount via Internet Emails to travel enthusiasts that are seeking a discounted travel product. The products Travel Hot Link will offer are: cruise cabins, air transportation, car rentals, hotel rooms and travel packages from Tour Operators. The traveler will link directly to the travel supplier and purchase the desired travel product directly from the supplier.
Invicta's management continues to position the company's new business model: updating the website, obtaining new funding, and planning to relocate offices to Ft Lauderdale FL.; the results will be to generate new revenues, reduce losses, and focus on generating a profit in the near future.
INVICTA GROUP INC. is an Internet Media Company that specializes in the Travel Industry. The company offers an Internet database of 40 million travel enthusiasts discounted travel products: airline tickets, hotel rooms, Tour Packages, cruise cabins and car rentals on the Internet 24/7 through their B-2-C web site www.travelhotlink.com. Invicta also owns a Las Vegas tour operator offering travel and entertainment products for Las Vegas travelers: http://www.lasvegasexcitement.com; and a cruise only company offering discounted cruises: www.cruiseexcitement.com to the public.
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