BOCA RATON, FL / ACCESSWIRE / April 30, 2019 / Ominto, Inc. (OTC PINK: OMNT), a growth company with global operations in the e-commerce industry, announced today that it has submitted an offer of settlement to the Securities and Exchange Commission proposing to agree to a Commission order revoking the registration of its securities pursuant to Section 12 of the Securities Exchange Act. Upon the entry of such an order, trading in the company's securities will cease. The company is not able to predict when the order will be entered. Once entered, shares can only be sold in private transactions as there will not be any recognized trading on a public exchange marketplace.
Michael Hansen, Founder and CEO of Ominto stated, "This solution satisfies our intent and priority to become current with our audits as soon as possible. By revoking our registration with the SEC, it provides us the necessary time and resources to become current with our audits much faster and in a cost-effective manner. Once our audits are complete, we intend to apply for listing on Nasdaq."
About Ominto, Inc.
Ominto is a growing company with global operations in e-commerce. The company owns or invests in strategic entities that provide value to its global customer base.
Ominto is a pioneer in global Cash Back and first to market in many regions of the world. At the core of Ominto's business is Dubli.com, a global consumer Cash Back website. At Dubli.com, consumers shop at their favorite stores, save with the best coupons and deals, and earn Cash Back with each purchase. Dubli.com features thousands of brand name stores and industry-leading travel companies from around the world, providing Cash Back savings to consumers in more than 120 countries. Ominto's BSP Rewards programs offer a co-branded version of Dubli.com to businesses and nonprofits, providing them with a professional, reliable web presence that builds brand loyalty with their members, customers or constituents while earning commissions for the organization and Cash Back for shoppers on each transaction.
For more information, please visit Ominto's corporate website http://ominto.com.
This press release contains forward-looking statements that involve substantial risks and uncertainties. These include statements about Ominto's expectations, beliefs, intentions or strategies for the future, which are indicated by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "believe," "projects," "could," "would," and similar expressions. You can also identify them by the fact that they do not relate strictly to historical or current facts. The forward-looking statements reflect Ominto's current view about future events and are subject to risks, uncertainties and assumptions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Ominto may not actually achieve the expectations disclosed in the forward-looking statements and you should not place undue reliance on Ominto's forward-looking statements. These forward-looking statements involve risks and uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking statements, including, but not limited to: risks related to our ability to continue as a going concern being in doubt; Ominto's inability to generate enough customers or enough purchasing activity for our shopping websites; Ominto's inability to establish and maintain a large growing base of Business Associates; Ominto's failure to adapt to technological change; increased competition; increased operating costs; changes in legislation applicable to Ominto's business; Ominto's failure to improve our internal controls; and Ominto's inability to generate sufficient cash flows from operations or to secure capital to enable us to maintain our current operations or support our intended growth; along with other risks and potential factors that could affect Ominto's business and financial results identified in Ominto's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2016.
SOURCE: Ominto, Inc.