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YTB Intl Press Releases > YTB International Completes $960,000 Private Placement With Company Employees and Distributors
YTB International Completes $960,000 Private Placement With Company Employees and Distributors
 Apr 5, 2005 -- Thirty YTB Employees and Independent Distributors Demonstrate Confidence in Company's Growth Prospects Through Investment

ENGLEWOOD CLIFFS, NJ--(MARKET WIRE)--Apr 5, 2005 -- YTB International, Inc. (OTC BB:YTBL.OB ), a leading provider of Internet-based travel services, announced today that it has completed a $960,000 private placement of common stock with 30 of the company's employees and distributors who purchased 1,200,000 shares of restricted common stock in the transaction. The investors have no registration rights. Proceeds will be used for working capital and general corporate purposes.

"We are gratified that thirty of our key employees and field distributors have demonstrated their confidence in the Company by participating in this private placement," said Lloyd Tomer, YTB International's Chairman of the Board. "Our Referring Travel Agents play an integral role in our success. These associates have done an outstanding job of leading their teams, and are now showing their confidence in YTB's future through this investment."

"We continue to rapidly expand the number of Referral Travel Agents using YTB International to provide travel services," said Michael Brent, YTB International, Inc.'s CEO. "Recently, we exceeded 10,000 agents nationally who pay $49.95 per month to utilize our web sites to offer innovative travel services to their customers. We expect that the dramatic growth we are experiencing in this area will result in record revenue and earnings for the Company. In addition to substantially improved operating results, our balance sheet is the strongest in recent history, providing us with the ability to further invest in our business to support growth."

YTB International previously announced that it expects 2005 revenue of $20 million to $20.3 million, representing approximately an 80% increase over 2004. YTB expects net income of $2.5 to $2.7 million, or approximately $0.10 to $0.12 per diluted share.

YTB International, Inc. is engaged in referral marketing and travel through three divisions. YTB Travel Network division provides support services for the almost 10,500 Referring Travel Agents who are currently selling travel-related services. REZconnect Technologies develops online travel stores for full service agencies and hosts over 6,500 locations, of which 1,500 license consumer sites. REZconnect also operates several franchise systems and storefront locations throughout the USA and in overseas locations. REZconnect also has an agreement with Wal-Mart Stores to operate franchise locations within their SuperCenters. Its latest online business model -- REZcity.com -- just completed its third year and was rated as one of the top 500 franchise companies from Entrepreneur Magazine survey, January 2005 issue. YourTravelBiz.com is the marketing division, selling an on-line travel business through a network of independent distributors nationally.

Statements about the Company's future expectations, including future revenues and earnings, and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and the Company's actual results could differ materially from expected results. The Company undertakes no obligation to update forward-looking statements to reflect subsequently occurring events or circumstances.