Business & Finance
Fri, October 23, 2009Thu, October 22, 2009Wed, October 21, 2009Tue, October 20, 2009Mon, October 19, 2009Sun, October 18, 2009Fri, October 16, 2009Thu, October 15, 2009Wed, October 14, 2009Tue, October 13, 2009Mon, October 12, 2009Fri, October 9, 2009Thu, October 8, 2009Effective Control Transport, Inc. : Effective Control Transport, Inc. CEO 90-Day Plan and Upcoming Activities
Published in Business and Finance on Friday, October 16th 2009 at 10:09 GMT by Market Wire
LONGUEUIL, QC--(Marketwire - October 16, 2009) - Mr. Michel Nader, CEO of Effective Control Transport, Inc. (
"Since my arrival at ECT, I have thoroughly reviewed each department and came up with a list of urgent matters that need to be addressed. Shareholders will be updated on a regular basis until these matters are resolved," said Mr. Nader.
Urgent actions to be taken in the next 90-days:
-- Generate recurrent income; -- Reduce hardware cost and increase production; -- Implement a credible financial department; -- Adding new board members; -- Clarify in the upcoming days the relation between ECT and Axyomm Technologies; -- Update on the up listing to the TSX; -- Reviewing all legal ongoing matters.
Upcoming Activities
Structures, Financial, Investors and Business Partners:
"I will be working closely with our financial and legal department on these issues. For the last few years, ECT was in R&D mode. Our Driver's Mate™ powered by CRAM™ was launched recently in September. Now that the product is out and ready, my mandate is to start building the new structure for marketing, production, distribution, financing, long-term investors and international business partners," said Mr. Nader.
Driver's Mates™ International Distributor:
Preparing the ground for "Exclusive Distributors" of the Driver's Mate™ for the trucking industry in Latin America, Middle East, Asia, Africa, Australia and Europe, one distributor per country. Our "Exclusive distributors" will be authorized to sign and control sub-distributors in their countries only.
Reducing Cost and Increase Production Capacity:
We must be fully prepared for the international market. We already have a big demand for thousands of Driver's Mate™ in North America. We must answer those needs by reducing our cost and increase the production capacity.
In orders to reduce our cost and increase production it is in the interest of the company to manufacture the Driver's Mate™ in Asia. Since my nomination, many contacts have been established with international manufacturers.
In regards of the CRAM™ software, the R&D department just finalized the activation application, which allows the production of the Driver's Mate™ without the CRAM™ software. With this new powerful tool, we can outsource the production without having problem with copy or tampering.
Driver's Mate™ for Mass Market and OEM Applications:
Our immediate focus will be on reducing the actual size of the Driver's Mate™ and making it available for vehicles. This will give us access to mass market, increase our sales and shareholders' value.
Our strategy for the OEM application is to work with third party suppliers who are already channeled with major car manufacturers. By only licensing the software, we maximize our profits.
To learn more about Effective Control Transport, Inc. and the Driver's Mate technology, please visit ([ www.econtroltransport.com ])
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
