If you follow their PR, it states that they hope to complete the acquisition within 90 days from Nov. 1st (that means we should hear some news and see a PR confirming that the transaction has been completed within the next week).
Press ReleaseSource: PlanetLink Communications Inc.
PlanetTRAKS Announces Letter of Intent to Acquire AutoTrack GPS
Tuesday November 1, 2:35 pm ET
CUMMING, Ga., Nov. 1, 2005 (PRIMEZONE) -- Planetlink Communications, Inc. (OTC BB:PLKC.OB - News), a provider of GPS satellite-based products and services, announced today that the company has signed a letter of intent to purchase AutoTrack GPS, a Phoenix company, that markets GPS products and services to retail markets.
M. Dewey Bain, President and CEO of PlanetLink, said, ``We are very excited about nearing the completion of our first acquisition, AutoTrack GPS. The added revenues of AutoTrack GPS will help us reach our target revenues quicker and become profitable through economies of scale. We expect the additional sales expertise of the principals and the products that AutoTrack GPS currently markets to compliment the TransTRAK product line. We expect to complete the acquisition within ninety days.
Larry LaPaglia, Director of Agent Programs commented, ``In the recent months we have completed developing a marketing and sales presentation kit with the consultants and have published the kits and have begun distribution to our growing nationwide sales force. This acquisition will help broaden our product line and increase sales through cross marketing of our products.''
About PlanetLink Communications, Inc.
PlanetLink Communications, Inc. recently launched its TransTRAK product through its wholly owned subsidiary, PlanetTRAKS. The Company is developing a family of GPS-enabled products and services under the PlanetTRAKS name. TransTRAK is the first of these products and is the Company's turnkey solution for real-time, mobile asset management. From tracking vehicle speed and location in real-time to controlling vehicle functions through remote access, TransTRAK allows the customer to actively monitor and manage virtually any type of mobile asset. For more information on PlanetLink, please visit the company's Website at: http://www.planettraks.com
The information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words ``estimate,'' ``anticipate,'' ``believe,'' ``expect,'' or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the ``Risk Factors,'' ``Management's Discussion and Analysis'' or ``Plan of Operation'' and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission. The Company will provide you with copies of this information upon request.
PlanetLink Communications Inc.
Source: PlanetLink Communications Inc.