Concord, Ontario, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Ultrack Systems Inc. (OTC Pink: MJLB), a total fleet-management GPS tracking and monitoring solution provider, is pleased to announce the upcoming launch of the new "Ultrack My Pet Tracker" and to provide a 2021 year-end corporate recap.
MY PET TRACKER
Ultrack has completed the development of the Company's proprietary new GPS pet-tracking hardware: "Ultrack My Pet Tracker." This exciting new GPS product is currently in the testing phase at the Ultrack facilities and with a select focus group of North American pet owners. The Company plans to launch Ultrack My Pet Tracker in the early Spring of 2022. Key features of this new Ultrack product include “no air time fees” required to use this product and a conservative range of approximately 25 kilometers. The Company is currently working with designers to prepare for a brand rollout, including a website and social media specific to this new product.
Ultrack CEO Steve Marsbergen enthusiastically commented on the new Ultrack product: "We believe that the Ultrack My Pet Tracker will capture a healthy slice of the GPS pet tracking market because once customers buy our product there are no monthly fees or long-term commitments. Customers pay for it once and it just works. No ongoing fees coupled with a stable and robust technology is why I'm excited to get our new GPS pet tracker product to market in the very near term."
Testing of the flagship Ultrack ELD is progressing slowly yet surely as the Ultrack ELD product is currently the only Windows-based ELD. Ultrack has long believed and proclaimed that the Windows operating system is superior to Android alone. But because Ultrack's device is the sole ELD built around Windows architecture, some additional challenges of certification have surfaced. Primary among these issues is that the Ultrack ELD is an "always on" product; therefore, any certification tests involving the shut down and restart of an ELD product simply do not apply to the Ultrack ELD. Ultrack remains in close and constant contact with the testing facility to address any of their concerns associated with Ultrack's superior "always on" technology.
Ultrack remains absolutely confident that the Company's flagship ELD device will receive certification. Ultrack remains hopeful that receiving the certification is now a matter of weeks and not months. Although the wait has been excruciating for the team here at Ultrack, current Ultrack clients anxiously awaiting the arrival of this device, and the Company's valued stakeholders, one silver lining to ultimately receiving the Canadian certification is that the Ultrack device will be fully approved throughout North America as Canada employs the toughest ELD standards on the continent: https://www.fleetowner.com/news/article/21182436/canada-takes-more-systematic-approach-to-eld-certification.
Ultrack's existing customer base has provided feedback that they much prefer the Company's Windows based ELD units compared to the Android systems. Ultrack's ELD provides superior hardware power, administrative tracking and inspection tools, and the overall speed because the Ultrack ELD employs the "always on" technology which allows for instantaneous login and conclusively saves clients time and money.
2022 BUSINESS OUTLOOK
The trucking industry's total revenue throughout all of North America is approaching the one trillion dollar mark. Over 13% of registered vehicles are trucks. Canadian truck production is more than triple that of car production with over 1.4 million trucks produced in 2019.
The trucking industry is experiencing a surge in business and trailers are currently on backorder. As fulfilment of these orders start, an increase in Ultrack's tracking products will be required. Thankfully, the Company has ample inventory of all Ultrack hardware to meet these current and forthcoming demands.
Ultrack CEO Steve Marsbergen concluded: "I know that the wait for our ELD certification has been tough on everyone. But we are still moving forward and getting the certification will ultimately happen! Receiving the ELD certification is the key that unlocks the door for all kinds of new business for us. Once we receive the ELD certification, I anticipate being able to announce a steady stream of new contracts with new fleets. While we await the ELD certification, we continue to add new clients and new products to our lineup. Thank you for your support and may you all have a wonderful holiday season."
About MJLB: Located in Concord, Ontario, Ultrack Systems Inc., (www.ultrack.ca) is a publicly traded company listed on the OTCMARKETS under the MJLB trading symbol. Ultrack Systems Inc., is a provider of GPS tracking solutions. We develop, implement, and distribute electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal, and many other services driven industries. Our platform includes live tracking, reports, and alerts on a web-based platform. Our mission is to provide the best fleet tracking, reporting systems and our commitment to service. The Company plans to launch a new ELD product in 2021 in partnership with major corporations that will take the trucking industry by storm.
Safe Harbor Statement: This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.