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.
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 firstname.lastname@example.org
SOURCE Atlas Technology Group