YTB Founder Lloyd "Coach" Tomer announced to his Facebook page that he and his wife have filed for bankruptcy.
Good Morning, Good Morning! Miss Chriss and I have recently taken a significant financial step that I want you to hear about from me. We filed for personal bankruptcy this past week. As you know, we have given our all to this company and will continue to give our all to this company. With tough economic times and everything YTB has gone through in the recent past, our resources have dried up. However, we are good, healthy and focused on not only our future, but also we are committed to help you build yours. Love ya'll! Thank you for your continued support as we build YTB to new heights! Have a WONDERFUL Tuesday!Email ThisBlogThis!Share to TwitterShare to FacebookPosted byJohnat12:45 PM
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Showing posts with label Tomer. Show all posts
Showing posts with label Tomer. Show all posts
Thursday, 11 July 2013
Scott Tomer Abruptly Resigns From YTB
Scott Tomer, has abruptly resigned his position with YTB. According to an SEC filing submitted today:
On August 31, 2012, J. Scott Tomer submitted his resignation as Executive Vice President and Chairman of the Board of Directors of YTB International, Inc. (the “Company”), effective immediately. Mr. Tomer’s resignation also extended to each position previously held by him with each of the Company’s wholly-owned subsidiaries. The Company has no current plans to replace Mr. Tomer. The Company’s Board of Directors will appoint a new Chairman at its next meeting.Additionally, the Board of Directors has backed completely away from the merger with LTS Neutraceuticals.
The Company has determined that, after further analysis and consideration, a merger with LTS Nutraceuticals, Inc. (“LTS”) is not in the best long-term interests of the stockholders and would not enhance the strategic or competitive stance of the Company. Accordingly, the Company has ended its discussions with LTS about a possible merger transaction. Tomer's resignation marks the first time since it's inception that a Tomer has not had control of the company. Email ThisBlogThis!Share to TwitterShare to FacebookPosted byJohnat3:57 PM
On August 31, 2012, J. Scott Tomer submitted his resignation as Executive Vice President and Chairman of the Board of Directors of YTB International, Inc. (the “Company”), effective immediately. Mr. Tomer’s resignation also extended to each position previously held by him with each of the Company’s wholly-owned subsidiaries. The Company has no current plans to replace Mr. Tomer. The Company’s Board of Directors will appoint a new Chairman at its next meeting.Additionally, the Board of Directors has backed completely away from the merger with LTS Neutraceuticals.
The Company has determined that, after further analysis and consideration, a merger with LTS Nutraceuticals, Inc. (“LTS”) is not in the best long-term interests of the stockholders and would not enhance the strategic or competitive stance of the Company. Accordingly, the Company has ended its discussions with LTS about a possible merger transaction. Tomer's resignation marks the first time since it's inception that a Tomer has not had control of the company. Email ThisBlogThis!Share to TwitterShare to FacebookPosted byJohnat3:57 PM
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