DOVER, N.H., Oct. 12, 2012 /PRNewswire/ -- Atlas Technology
Group (OTC: ATYG) is reporting on some updates and strategy that
will continue the company's forward progress.
Financials. Results on current franchise locations should
be reported by or before October 31. Corporate financials for
Q3 2012 should be reported by or before November 15.
Miami franchise. As
Racing Limos America, Inc. has previously reported, there is a
Letter of Intent for purchase of the franchise territory in
Miami, Florida. That Letter
of Intent had an expiration date of September 30, 2012. On September 27, Racing Limos America, Inc. issued
an extension on the Letter of Intent through October 31. The
company remains optimistic the franchise agreement will be
finalized, and the franchise will launch operations by or before
the end of the year.
Canada. In a previous press release, Racing Limos America,
Inc. announced commencing paperwork to be able to offer franchises
in Canada. Though the process has been slow, the company
hopes to have access to doing business as a franchise company in
Canada by or before the end of the
year.
ATYG "Company Makeover." CEO James
Albion is reporting the company will be executing numbers of
actions to restructure the company's branding, and its corporate
and share structures. Though details are not yet available,
Mr. Albion reports there will be several news releases over the
coming few weeks that will detail these upgrades and
developments.
"We are confident these actions will help the company move
forward," says Albion. "We're in a crossroads moment in which
choices and direction are being decided. These decisions will
have an immediate effect on the company here in quarter four and
for the coming year."
About Atlas Technology Group, Inc.
Headquartered in Dover, NH,
Atlas Technology Group, Inc. is a holding company, with its primary
holding being Racing Limos America, Inc.
Forward-looking Statements:
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not
limited to, changes in the Company's business; competitive factors
in the market(s) in which the Company operates; risks associated
with operations outside the United
States; and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
CONTACT: Racing Limos America, Inc. Investor Relations at
(603) 285-0015 or by email at
investwithus@racinglimosamerica.com
SOURCE Atlas Technology Group
