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hotel outsource management (HOUM) Snapshot

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09/25/13 - $0.79
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03/31/14 - $0.10
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hotel outsource management (HOUM) Details

Hotel Outsource Management International, Inc., together with its subsidiaries, manufactures, markets, operates, and services computerized minibars installed in upscale hotels worldwide. It supplies a range of services in relation to computerized minibars that are primarily intended for in-room refreshments. The company also manufactures and installs its own proprietary computerized minibar, the HOMI 330 and the HOMI 226; and provides consultation and supervision services, as well as offers outsource services for installation and operation arrangements. As of December 31, 2013, it offered operation and/or management services to the minibar departments of 42 hotels. The company, formerly known as Benjamin Acquisitions, Inc., was founded in 1997 and is headquartered in New York, New York. Hotel Outsource Management International, Inc. is a subsidiary of Tomwood Limited.

45 Employees
Last Reported Date: 03/31/14
Founded in 1997

hotel outsource management (HOUM) Top Compensated Officers

Principal Executive Officer, President and Di...
Total Annual Compensation: $108.0K
Compensation as of Fiscal Year 2013.

hotel outsource management (HOUM) Key Developments

Hotel Outsource Management International Inc. announced delayed 10-Q filing

On 08/11/2014, Hotel Outsource Management International Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC.

Hotel Outsource Management International Inc. Announces Consolidated Earnings Results for the Third Quarter Ended September 30, 2013

Hotel Outsource Management International Inc. announced consolidated earnings results for the third quarter ended September 30, 2013. For the quarter, the company reported revenues of USD 754,000, a decrease of 3.3% compared to USD 780,000 a year ago. The revenues arise primarily from the sale of refreshments in the minibars. The decrease is mainly due to a decrease in the quantity of minibars operated, as agreements with some hotels in the United States reached the end of their terms. Operating loss was USD 380,000, compared to an operating loss of USD 323,000 a year ago. Net loss was USD 419,000, compared to a net loss of USD 421,000 a year ago.

Hotel Outsource Management International Enters into New Loan Agreement with Tomwood Limited

On October 9, 2013, Hotel Outsource Management International Inc. (HOMI") entered into a new loan agreement with Tomwood Limited. Pursuant to this loan agreement, Tomwood agreed to loan to HOMI the sum of $50,000, bearing 8% annual interest. The funds were wired to HOMI in September 2013, and the date of the loan shall be deemed to be October 1, 2013. The principal and all accrued interest shall be repaid in sixteen (16) consecutive quarterly payments commencing January 1, 2014 and thereafter on the first day of each calendar quarter, ending with the final payment on October 1, 2017. However, there will be a two (2) year grace period for the principal of the loan, with the result that the first eight (8) quarterly repayments shall consist solely of accrued interest, while the final eight (8) quarterly payments will consist of principal plus accrued interest. Pursuant to this loan agreement, within thirty (30) days of closing an equity investment of $600,000 or more, HOMI may elect to repay all or any portion of the outstanding loan and/or accrued interest in shares of HOMI common stock which shares shall be value at the same price per share as in the corresponding equity investment.


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