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Ultrack Systems Inc. (OTC Pink: MJLB) will exhibit at the Atlantic Transportation and Logistics Show in Moncton, New Brunswick, on October 20-21, 2022. The company will showcase its product line, including its upcoming flagship ELD device, at Booth #535. This event, presented by the Atlantic Provinces Trucking Association, is expected to attract over 10,000 visitors and serves as a major platform for industry stakeholders to explore new technologies and products. CEO Michael Marsbergen emphasized the significance of this event for securing new business opportunities.
Ultrack Systems Inc. (OTC Pink: MJLB) has announced the complete acquisition of M-Loan Inc., which achieved record revenues in fiscal year 2021, significantly boosting Ultrack's overall revenue by more than threefold. CEO Michael Marsbergen highlighted the strategic importance of this acquisition in expanding Ultrack's footprint in the U.S. trucking market. M-Loan has an established history in the west-coast financing sector and is a preferred vendor for Schneider Trucks. Additionally, Ultrack's flagship ELD is progressing towards deployment pending Transport Canada approval.
On May 24, 2022, Ultrack Systems (OTC Pink: MJLB) announced its acquisition of M-Loan Inc., a California trucking firm. This strategic move aims to enhance Ultrack's presence in the lucrative U.S. trucking market, which boasts the highest GDP among global trucking industries. The acquisition positions Ultrack as a North American entity, expanding its operational footprint. CEO Michael Marsbergen expressed intentions for further acquisitions to drive shareholder value. Additionally, Ultrack's ELD device awaits certification from Transport Canada, with progress reported at 90% completion, albeit with some delays.
Ultrack Systems Inc. (OTC Pink: MJLB) has signed a Memorandum of Understanding (MOU) with M-Loan Inc. (MLON) for a full acquisition, which will make MLON a wholly owned subsidiary. This deal promises to strengthen Ultrack's position in the trucking industry, complementing its ongoing acquisition of Power Moves Transport, Inc. The CEO, Michael Marsbergen, expressed confidence in the strategic value of these acquisitions for shareholders. The company is also nearing completion of its Electronic Logging Device (ELD) certification process, expected to boost its market presence in 2022.
Ultrack Systems Inc. (OTC Pink: MJLB) has signed a Memorandum of Understanding to acquire Power Moves Transport, Inc. (PWTI), a trucking company specializing in automobile transport across the U.S. The acquisition aims to enhance Ultrack's market presence in North America and is expected to add value to the company's financial performance. The U.S. trucking industry generated $737.3 billion in 2020, highlighting significant growth opportunities. Currently, Ultrack's certification is approaching completion at 81%, moving towards the goal of 100%.
Ultrack Systems Inc. (OTC Pink: MJLB) announced on February 10, 2022, its ongoing discussions with a consulting firm representing various U.S. companies for potential strategic acquisitions. These companies operate in similar markets, creating opportunities for mutual growth. Ultrack's CEO highlighted that the acquisitions could significantly enhance Ultrack's fiscal value. The company reported that its ELD certification progress has increased from 71.5% to 78%, moving towards completion. Ultrack continues to focus on expanding its fleet-management GPS tracking solutions.
Ultrack Systems Inc. (OTC Pink: MJLB) announced the upcoming launch of its new product, the Ultrack My Pet Tracker, which features no air time fees and a range of 25 kilometers. Currently in testing, this GPS pet-tracker is expected to launch in early Spring 2022. Additionally, progress on the Ultrack ELD device is ongoing, with expectations of certification within weeks. Ultrack sees potential for new contracts upon certification, while the trucking industry is poised for growth, increasing demand for tracking products. The company maintains a solid inventory to meet future needs.
Ultrack Systems (OTC Pink: MJLB) is expanding its fleet management solutions into European markets by integrating Teltonika hardware into its product line. The CEO highlighted the upcoming adaptation of their DrivelineELD product for the European Tachograph mandate, following successful North American certification. This move opens significant market opportunities as Europe leads in digital tachograph adoption. Additionally, Ultrack is in the final stages of testing their DrivelineELD for compliance in both the USA and Canada, positioning it as an industry disruptor in fleet tracking.
Ultrack Systems Inc. (OTC Pink: MJLB) announced the reprogramming of their DriveLineELD product to meet updated standards. Following a revised testing protocol from FP Innovations, Ultrack integrated an OBDII testing requirement into their existing system. They have successfully conducted 400 out of 450 tests in-house and aim to complete the remaining tests by mid-July. Ultrack expects to obtain certification soon, with CEO Michael Marsbergen expressing confidence in the product's capabilities and the company's future offerings.
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