HOUSTON— Thomas John Cloud, Jr., the new CEO/president of Supreme Hospitality filed the companys Form 8K with the Securities and Exchanges Commission on June 6 stating that in late May, United Managers Group purchased 5.71 million common shares of the Temecula Hotel in California for $150,000 total. The shares represent a 67% stake in the property. According to Cloud, Supreme Hospitality’s former director, Larry Lang, had agreed to sell the Temecula hotel when the company realized it was unable to raise capital in the time required to pay off the defaults of loans and back taxes. “The Temecula Hotel represented the one single asset the company held, Cloud stated. “With the change of management and the direction of the new major shareholders, Supreme Hospitality will not change industries but will broaden its scope to seeking corporate merger opportunities and new ways of creating value to its stock. On the same day Supreme Hospitality filed with the sale of the hotel, Lang, the company’s former director, appointed Cloud and Robert Joseph Wilson as incoming directors of the company. Lang resigned as director of Supreme Hospitality, and resigned his positions as president, secretary and treasurer of the corporation. The new board then elected Cloud as president and CEO and Wilson as secretary/treasurer and CFO of the corporation.
