A Mixed Bag
Kind of mixed bag today on news and updates concerning the company everyone loves to talk about – YTB. I spent some of the afternoon yesterday reading between phone calls and e-mail’s on most of the favorite watering holes getting a pulse and latest spin on all the news.
If you’ve been stuck in some sort of hole and don’t know what the heck I’m talking about, you’ve come to the right place. Not to worry, and not to disappoint, I’ll fill you in.
For the folks in YTB, you might want to keep this post handy because it’s going to be loaded with some pretty powerful ammunition for some of the junk we’ve had to endure over the last few years concerning our stock, and will also debunk some of the spin out there concerning “it doesn’t add up” and “insider trading” that’s currently floating around by our Critics.
An official announcement has been released that YTBLA will move off the Pink Sheets and over to the OTC. Now for our “Critics” this is no big deal, and to be fair, it IS only the first phase of our intent to upgrade to a National Exchange like AMEX or NYSE. OTC isn’t all that big of a deal, and there is still some work to do to move over to one of the “big boys”, but this first step is crucial and also provides several key elements that I need you in YTB to know and also warn our Critics who are calling foul in several areas concerning our Annual Report and questions they have concerning our business practices and / or math.
If you didn’t know, or simply don’t recall, our Annual Report states the following:
“Because we have become current with our periodic reports under the Exchange Act, we intend to have our Class A Common Stock quoted on the OTC-BB once again and to thereafter apply for its listing on a national securities exchange, although no assurances can be given in this regard. Towards such end, on March 3, 2008, the requisite paperwork for the quotation of our Class A Common Stock on the OTC-BB was submitted to a FINRA member firm for filing with FINRA.”
For those that don’t know who FINRA is, they are the Financial Industry Regulatory Authority and a firm who tests and authorizes Members. The FINRA looked at several key factors concerning our company’s business practices. The portfolio of regulatory services that FINRA offers includes member application processing, registration processing and disclosure review, financial and operational surveillance, examinations and audits, market surveillance, investigations, disciplinary actions, dispute resolution and regulatory consultation.
FINRA's regulatory clients include NASDAQ, American Stock Exchange (Amex), International Securities Exchange (ISE), NQLX and the Public Company Accounting Oversight Board (PCAOB).
By maintaining constant market surveillance - on both a real-time and post-trade basis, the FINRA helps ensure the fair and orderly conduct of securities transactions. FINRA oversees and regulates all trading on NASDAQ, the American Stock Exchange, the International Securities Exchange, the Chicago Climate Exchange and in the OTC markets, as well as trades in New York Stock Exchange- and Amex-listed securities reported to NASDAQ.
What this means to you the RTA and / or stockholder is this:
One - While our Critics want to discredit our Annual Report with this bunk that it doesn’t add up, you can now politely suggest that they may want to consider a remedial math class and then some sort of Financial or Securities Course to help them with any errors or questions they have.
Two – While many are speculating that “insiders” are moving this stock price up – down – or pulling the preverbal “Pump and Dump”, the only pumping going on is by them, with mud they have loaded in the slings and arrows they are shooting all over the internet.
Any arguments directed at either “not adding up” or “insiders pumping and dumping” are now Null and Void.
Keep page 9 of the Annual Report, and the link to FINRA handy for anyone who wants to question the credibility of any of the financial statements. Everyone can be assured that all of our Financial Statements at this point are accurate, and our company is squeaky clean.
The second part of the news and spin floating around concerns YTB’s association with IATA. In an article posted in Travel Weekly on Wednesday, YTB will be able to continue to use the numeric code given to us by ARC, but it looks as if we will continue to do business without any type relationship with IATA.
I realize the Travel Agent community believes that an Association with IATA is crucial and like our listing the last few years on Pink Sheets, we will now endure the brunt of jokes about our lack of any association with what in their minds adds credibility. I’ve also heard spin that they believe this will hamper our International Expansion.
I could be completely off the mark here folks, and International regulations are not my area of expertise, but I do have a couple of questions.
Can IATA terminate based on guilt by association? YTB does own Sunrise Travel Services in Canada, and the Commissioner in Canada recently reinstated an Agency in Canada in which the US Association did not like, but couldn’t do anything about. Like the ARC numeric code issue, the US Commission “may” not have any input in any type of International IATA Accreditation, especially when the Agency was never even threatened with any type of termination or violations to begin with.
You can just imagine what the “critics” will say about that. (And I’m sure they will.) Based on all the “doom and gloom” about the swarm of supplies pulling the plug, the stock going bust, and how important IATA was here in the US and how they were convinced all these issues would crush us, I’d take just about anything you see or read from a “Critic” with a grain of salt. Chances of them being on mark about anything these days concerning YTB are sketchy at best.
The good news is this.
One – It seems critics have resigned themselves to the fact that IATA here in US concerning YTB really didn’t amount to much as they are now focused on hopes concerning our International Expansion. (We ARE still here, still booking travel, and still getting paid on that travel.)
Two – The numeric code was issued by ARC not IATA and IATA has conceded that the number is ours.
There’s still plenty of work to do and we’re certainly not out of the woods just yet. A lot can change in the weeks and months ahead, and from what I understand, YTB isn’t through by any means in becoming the Largest Travel Agency in the World.
If you’ve been stuck in some sort of hole and don’t know what the heck I’m talking about, you’ve come to the right place. Not to worry, and not to disappoint, I’ll fill you in.For the folks in YTB, you might want to keep this post handy because it’s going to be loaded with some pretty powerful ammunition for some of the junk we’ve had to endure over the last few years concerning our stock, and will also debunk some of the spin out there concerning “it doesn’t add up” and “insider trading” that’s currently floating around by our Critics.
An official announcement has been released that YTBLA will move off the Pink Sheets and over to the OTC. Now for our “Critics” this is no big deal, and to be fair, it IS only the first phase of our intent to upgrade to a National Exchange like AMEX or NYSE. OTC isn’t all that big of a deal, and there is still some work to do to move over to one of the “big boys”, but this first step is crucial and also provides several key elements that I need you in YTB to know and also warn our Critics who are calling foul in several areas concerning our Annual Report and questions they have concerning our business practices and / or math.
If you didn’t know, or simply don’t recall, our Annual Report states the following:
“Because we have become current with our periodic reports under the Exchange Act, we intend to have our Class A Common Stock quoted on the OTC-BB once again and to thereafter apply for its listing on a national securities exchange, although no assurances can be given in this regard. Towards such end, on March 3, 2008, the requisite paperwork for the quotation of our Class A Common Stock on the OTC-BB was submitted to a FINRA member firm for filing with FINRA.”
For those that don’t know who FINRA is, they are the Financial Industry Regulatory Authority and a firm who tests and authorizes Members. The FINRA looked at several key factors concerning our company’s business practices. The portfolio of regulatory services that FINRA offers includes member application processing, registration processing and disclosure review, financial and operational surveillance, examinations and audits, market surveillance, investigations, disciplinary actions, dispute resolution and regulatory consultation.
FINRA's regulatory clients include NASDAQ, American Stock Exchange (Amex), International Securities Exchange (ISE), NQLX and the Public Company Accounting Oversight Board (PCAOB).
By maintaining constant market surveillance - on both a real-time and post-trade basis, the FINRA helps ensure the fair and orderly conduct of securities transactions. FINRA oversees and regulates all trading on NASDAQ, the American Stock Exchange, the International Securities Exchange, the Chicago Climate Exchange and in the OTC markets, as well as trades in New York Stock Exchange- and Amex-listed securities reported to NASDAQ.
What this means to you the RTA and / or stockholder is this:
One - While our Critics want to discredit our Annual Report with this bunk that it doesn’t add up, you can now politely suggest that they may want to consider a remedial math class and then some sort of Financial or Securities Course to help them with any errors or questions they have.
Two – While many are speculating that “insiders” are moving this stock price up – down – or pulling the preverbal “Pump and Dump”, the only pumping going on is by them, with mud they have loaded in the slings and arrows they are shooting all over the internet.
Any arguments directed at either “not adding up” or “insiders pumping and dumping” are now Null and Void.
Keep page 9 of the Annual Report, and the link to FINRA handy for anyone who wants to question the credibility of any of the financial statements. Everyone can be assured that all of our Financial Statements at this point are accurate, and our company is squeaky clean.
The second part of the news and spin floating around concerns YTB’s association with IATA. In an article posted in Travel Weekly on Wednesday, YTB will be able to continue to use the numeric code given to us by ARC, but it looks as if we will continue to do business without any type relationship with IATA.
I realize the Travel Agent community believes that an Association with IATA is crucial and like our listing the last few years on Pink Sheets, we will now endure the brunt of jokes about our lack of any association with what in their minds adds credibility. I’ve also heard spin that they believe this will hamper our International Expansion.
I could be completely off the mark here folks, and International regulations are not my area of expertise, but I do have a couple of questions.
Can IATA terminate based on guilt by association? YTB does own Sunrise Travel Services in Canada, and the Commissioner in Canada recently reinstated an Agency in Canada in which the US Association did not like, but couldn’t do anything about. Like the ARC numeric code issue, the US Commission “may” not have any input in any type of International IATA Accreditation, especially when the Agency was never even threatened with any type of termination or violations to begin with.
You can just imagine what the “critics” will say about that. (And I’m sure they will.) Based on all the “doom and gloom” about the swarm of supplies pulling the plug, the stock going bust, and how important IATA was here in the US and how they were convinced all these issues would crush us, I’d take just about anything you see or read from a “Critic” with a grain of salt. Chances of them being on mark about anything these days concerning YTB are sketchy at best.
The good news is this.
One – It seems critics have resigned themselves to the fact that IATA here in US concerning YTB really didn’t amount to much as they are now focused on hopes concerning our International Expansion. (We ARE still here, still booking travel, and still getting paid on that travel.)
Two – The numeric code was issued by ARC not IATA and IATA has conceded that the number is ours.
There’s still plenty of work to do and we’re certainly not out of the woods just yet. A lot can change in the weeks and months ahead, and from what I understand, YTB isn’t through by any means in becoming the Largest Travel Agency in the World.
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Doug & Ronda Bauknight
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Travel Agent / Networker
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Labels: ARC Sales, FINRA, IATA, Stock Split, YTB International, YTBLA
