Wholesale travel company Dynamic Leisure Corp. has filed for Chapter 7 bankruptcy protection.
The company’s most recent quarterly report filed in May with the Securities and Exchange Commission several references to its failed attempts to gain capital.
“We have experienced historical losses and a substantial accumulated deficit. If we are unable to reverse this trend, we will likely be forced to cease operations,” the filing said.
At the time of the filing, the company reported $8.7 million in assets.
In the first half of 2007, Dynamic Leisure (OTCBB: DYLI) established partnerships with several travel-related companies, including InterContinental Hotel Groups, AIG Travel Guard insurance and Dollar Rent A Car.
The company later reported a net loss of $8.3 million, or 60 cents per share, in August 2007.
Ian R. Leavengood of LeavenLaw PA is the attorney of record for the bankruptcy.
Dynamic Leisure stock closed at 0.0011 per share on Oct. 10, the last listed trade time, as opposed to 0.16 per share one year ago.