This excerpt taken from the ILX 8-K filed Dec 13, 2007.
PHOENIX, ARIZONA December 13, 2007 - ILX RESORTS INCORPORATED (AMEX: ILX) announced today that it was discontinuing its previously announced efforts to assess strategic alternatives for the Company and concluding its engagement of Silver Portal Capital, LLC which was assisting the Company as financial advisors in this process.
With the guidance and expertise of financial and legal advisors, the Company has elicited and explored the potential opportunities presented and determined that none were worth pursuing at this time, said Joe Martori, Chairman and CEO. We look forward to having our managements full time and attention focused on the continuation of our business plan and moving the Company forward.
ILX Resorts acquires, develops, and operates premier timeshare resorts primarily in the western United States that provide its owners with extraordinary vacation experiences. ILX's portfolio of world-class properties includes eight resorts in Arizona, one in Indiana, one in Colorado, one in San Carlos, Mexico and land in Puerto Peñasco (Rocky Point), Mexico and Sedona, Arizona, both of which are in the final planning stages. It also, through Premiere Vacation Club, has acquired, and continues to acquire, inventory at the Carriage House in Las Vegas and in addition has acquired inventory at the Scottsdale Camelback Resort in Scottsdale, Arizona. For more information, visit: www.ilxresorts.com.
For more information, contact Joseph P. Martori, Chairman or Margaret Eardley, Chief Financial Officer, at 602-957-2777.
Forward-Looking Statements; Risks and Uncertainties
Statements contained in this document that disclose the Companys or managements intentions, expectations or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company cautions that these statements involve risks and uncertainties and other factors that may cause results to differ materially from those anticipated at the time such statements are made. For example, future results, performance and achievements may be affected by our ability to successfully implement our strategic, operational and marketing plans, general economic conditions, the impact of war and terrorist activity, business and financing conditions, governmental and regulatory actions, the cyclicality of the vacation ownership industry, relationships with key employees, domestic and international political and geopolitical conditions, competition, downturns in leisure travel patterns, risk associated with the level and structure of our indebtedness and other circumstances and uncertainties. We believe the expectations reflected in such forward-looking statements are
based upon reasonable assumptions, but we can give no assurance that our expectations will be attained or that results will not materially differ. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.