Atlas Technology Group Reports Strong Q1 Revenues 57% of All 2012 Revenues; 71.8% Increase over Q1 2012
DOVER, N.H., May 13, 2013 /PRNewswire/ -- Atlas Technology Group, Inc. (OTC Pink: ATYG), the holding company for Racing Limos America, Inc., an emerging advertising and marketing company with franchise operated locations, specializing in multi-media marketing partnerships, has posted its Q1 2013 Financial Report. The report includes revenues for the quarter of just under $69,000 - about 57% of all 2012 company revenues and a 71.8% increase over the same quarter last year.
"We had a fabulous first quarter," says Atlas CEO and Racing Limos America, Inc. President James Albion. "We're on pace to better than double our revenues over last year. And this doesn't include our private funding on the way."
The Company says they are still planning a stock buyback and other methods of contracting the outstanding shares. "We still want to reduce the outstanding free-trade shares by at least half," says Albion. "Stronger revenues will not only allow us to reduce the outstanding shares, but will give us room to execute a stronger marketing program to grow the business here in the U.S. and abroad."
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.
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SOURCE Atlas Technology Group, Inc.