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Thursday, Feb 2, 2023

Business Briefs: WPTE, Hilton, GNP Computers, CaminoSoft, 3D Systems, True Religion Apparel

& #8226; WPT Enterprises Inc.

notified the Securities and Exchange Commission that it needs to delay filing its second-quarter results. The L.A.-based owner of the World Poker Tour television show, whose quarterly report was due Wednesday, will now have an additional five days to file, and the company expects to meet the new deadline. WPTE said the delay was a result of the resignation of Deloitte & Touche LLP as its accounting firm. Deloitte did not review WPTE’s quarterly financial statements. On Tuesday, the company hired Piercy Bowler Taylor & Kern as its new accounting firm.

& #8226; Hilton Hotels Corp.

sold its historic Palmer House hotel in Chicago to Thor Equities for $230 million. Thor, which specializes in retail development, will spend at least $100 million renovating the property and adding a new shopping center at the hotel’s base. Under a long-term contract, Beverly Hills-based Hilton will continue to manage the property. The hotel, which was built in 1873, has played host to every American president from Ulysses S. Grant through Bill Clinton.

& #8226;

Computer services company Pinnacle Data Systems Inc. acquired the assets of privately held

GNP Computers Inc.

, including accounts receivable, inventory and property. Under the deal, Pinnacle assumes the Monrovia-based company’s $8 million in liabilities, a building lease of 56,000 square feet, and acquires a sales office in Singapore. Pinnacle also said it hired 54 GNP employees.

& #8226; CaminoSoft Corp.

, a Westlake Village-based data management software developer, reported a net loss of $59,989 (breakeven) for the third quarter ended June 30, compared with a loss of $579,327 (4 cents per diluted share) for the like period a year ago. Revenues rose to $852,656 from $325,615 in the year-ago period.

& #8226; 3D Systems Corp.

agreed to settle its patent-dispute case with Objet Geometries. Specific terms were not disclosed. Valencia-based 3D Systems and Israel-based Objet waived all claims for damages with respect to their pending litigation. And both companies agreed to license to each other patents relating to three-dimensional printing.

& #8226; True Religion Apparel Inc.

announced that its common stock has been approved for listing on the Nasdaq National Market. The trading symbol will be “TRLG,” the same symbol under which the L.A.-based apparel company’s stock currently trades on the over-the-counter market. True Religion’s common stock will begin trading on August 18 on the Nasdaq.


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