SCOTTSDALE, AZ , April 29 /PRNewswire-FirstCall/ – On4(TM) Communications, Inc. (“On4(TM)”) (ONCI.OB) is pleased to announce an agreement with National Cash & Credit for the provision of On4(TM) Communication's Location Based Services automobile tracking service.
The service will consist of On4(TM) installing high quality tracking devices in the automobiles that National Cash & Credit has loaned money on as well as providing the tracking service that will allow National to track the vehicles. The vehicles will be tracked via GPS mapping software which is accessible from either a laptop, PC or mobile handset. This is On4(TM) Communication's initial rollout of its LBS vehicle tracking service.
Rob Jorgenson , National Cash & Credit's VP Operations said, “We are always looking at ways to reduce risk and the cost of credit when it comes to our sub-prime vehicle loan portfolio. We are looking forward to working with On4(TM).”
According to On4(TM) Communications CEO Cameron Robb , “We are very excited about the rollout of our LBS services. Our introduction into the automobile tracking space is significant in many ways. It marks On4(TM)'s initial commercial customer for our LBS tracking services and, in a marketplace that is huge. There are 9 million sub-prime loans each year for automobiles and each one of these cars is a prospective application of our services.”
National Cash & Credit has placed an initial order for tracking units and services in order to conduct field trials. Upon the successful completion of the field trials, National Cash & Credit has agreed to place a minimum initial order of several hundred units. National Cash and Credit provides car title loans to consumers who are in need of short term financing through its' locations in the southwestern United States .
On4(TM) Communications is a globally diversified Location Based Services (LBS) company with offices in Scottsdale, Arizona ; in Richmond, British Columbia and representation in China . On4(TM) is a leading provider of Public Safety, Personal Asset and Healthcare location based asset tracking and monitoring services. The company is currently in the process of designing, developing, and marketing personal LBS devices that are intended to provide tracking and location monitoring for people, animals and property of any other nature. Specific applications may include offender monitoring, elderly, medical, teens and children tracking, public safety officers, executives, cars, tracks, motorcycles, aircraft, boats, personal watercraft, ATVs, equipment, cargo, tools, trailers, electronic equipment, retail goods, and consumer goods in transit.
On4(TM) will utilize numerous technologies, including but not limited to CDMA, GSM, GPS, E911, A-GPS, radio frequency and beacon technology. On4(TM)'s leading edge technology leverages global positioning system satellites and wireless technology enabling its network of members to locate anyone or anything to which our device is attached in real time.
Cautionary Statement Relevant To Forward-Looking Information
This press release may contain certain “forward-looking statements” relating to the business of On4 Communications, Inc. (the “Company”) and its subsidiaries. All statements, other than statements of historical fact included herein are “forward-looking statements” including statements regarding: the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. Words such as “anticipates,” “expects,” “plans,” “projects,” “believes,” “seeks,” “estimates,” and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to a variety of risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict, including those discussed in the Company's periodic reports that are filed with the SEC and available on its website (http://www.sec.gov). You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, On4 Communications, Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE On4 Communications, Inc.