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FT. LAUDERDALE, FL -- (MARKET WIRE) -- 05/12/06 -- Invicta Group Inc. (OTC BB: IVGA) announced today the 1st Quarter financial results and filing of their 10Q.
Invicta's operating losses decreased further to $153,166 for the 1st Quarter ending 3/31/2006 compared to $363,275 losses for 1st Quarter 2005. The loss per share for 2006 was ($.0005) compared to 2005 loss per share ($.003).
Invicta generated net revenues of $26,051 for 2006 1st Quarter compared to $39,994 for the 1st Quarter 2005. The revenue decline is due to the company's shortage of working capital needed to market their subsidiaries and the closing of Airplan Inc.
Invicta CEO William Forhan stated, "We are not happy with the continued losses, but the company is positioned to increase revenues in the 2nd Quarter. We have reduced overhead creating a lean operation, we moved offices May 1 to increase staff, we are acquiring an Email database of 70 million travel enthusiasts that will give us one of the largest Email databases in the industry, we are hiring Accountant Executives to sell our database to travel suppliers, and we are also discussing several strategic alliances that will help generate revenues, website awareness, and increase margins in the near future."
Invicta Group has changed its business model to an internet media company, targeting Travel Suppliers that are willing to discount their prices to the last minute traveler, using Invicta's Email database of travelers that are seeking a travel deal.
INVICTA GROUP INC. is an Internet Media Company that specializes in the Travel Industry. The company offers an Internet database of 70 million travel enthusiasts discounted travel products: airline tickets, hotel rooms, Tour Packages, cruise cabins and car rentals on the Internet 24/7 through their B-2-C web site www.travelhotlink.com. Invicta also owns a Las Vegas tour operator offering travel and entertainment products for Las Vegas travelers: www.lasvegasexcitement.com ; and a cruise only company offering discounted cruises: www.cruiseexcitement.com to the public.
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IVGA will soon see +.01. the company is legit with one of the largest email databases for travel enthusiasts in the industry. this company will be a player.
"The amount of money received is relative to the stock price of IVGA, if the stock price averages one and a half cent ($.015), the company will receive $2.8 million equity funding."
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