GPS Tracking Network, Inc. Acquired by Agri-Dynamics, Inc. in Merger Transaction
08 July 2009 - 7:55AM
Marketwired
Agri-Dynamics, Inc. (PINKSHEETS: AGDY) announced the agreement of a
share exchange transaction with GPS Tracking Network, Inc. (GPS
Tracking), where Agri-Dynamics will acquire all the common stock of
GPS Tracking. GPS Tracking, a privately-owned Nevada Corporation,
with principal offices in Dallas, Texas, is a leading provider of
GPS-based tracking and location services to consumers, commercial
businesses and governmental entities, especially law enforcement
units, and also targets internet consumer sales.
According to ABI Research, in 2009 the global GPS market will
reach $22 billion. With products such as "Teen Tracking," a
personalized way to monitor how, when and where kids drive, GPS
Tracking is well-positioned to establish itself as an innovator in
the highly fragmented GPS market.
Randy Safford, GPS Tracking CEO, said, "The merger will provide
GPS Tracking with better access to the investor and business
communities to provide the necessary funding to accelerate our
rapid growth."
About Agri-Dynamics, Inc.
Agri-Dynamics, Inc. is a holding company providing management
consulting services, incorporated under the laws of the State of
Iowa. Its shares are currently traded on over-the-counter market
(OTC) and are listed on the Pink Sheets.
About GPS Tracking, Inc.
GPS Tracking is a minority-owned company providing
internet-based vehicle tracking service to commercial vehicle
operators and governmental agencies, especially law enforcement
units, where its competitive products and services are proven to
demonstrate a significant cost savings to its end users. The
Company also targets internet consumer sales and specializes in
"Teen Tracking," a personalized way to monitor how, when and where
kids drive.
For more information please visit www.YouthDrivingSafe.com and
www.TrackerTel.com.
SAFE HARBOR STATEMENT
Safe Harbor Statement under the Private Securities litigation
Reform Act of 1995: The statements, other than the statements of
historical facts, may be deemed to contain forward-looking
statements with respect to events, the occurrence of which involves
risk and uncertainties, including, without limitation, demand and
competition for the company's products and services, the
availability to the company of adequate financing to support its
anticipated activities, the ability of the company to generate cash
flow from operations and the ability of the company to manage its
operations. As statements regarding future events concern
management's estimates of future results of operations, and these
estimates are based on many elements beyond management's control,
differences from management's estimates may occur, and such
difference may be material.
Although Agri-Dynamics, Inc. believes the assumptions underlying
the forward-looking statements contained herein are reasonable, any
assumption could be inaccurate, and therefore, there can be no
assurance that the forward-looking statements included in this
press release will prove to be accurate. In light of the
significant uncertainties inherent in the forward-looking
statements included herein, the inclusion should not be regarded as
a representation by Agri-Dynamics, Inc. or any other person that
the objective and plans of Agri-Dynamics, Inc. will be
achieved.
Investor Relations Contact: CSIR Group, LLC Email Contact
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