EAST HANOVER, N.J., May 23, 2012 /PRNewswire/ -- Unity Management Group (OTC: UYMG), a business resource and service company, provided a corporate update today to highlight its progress over the last six months.
Key Milestones and Events
- Acquired Metropolitan Computing Corporation a Pharmacy Calibration and Instrumentation Company
- Bolstered management at Metropolitan Computing Corporation to increase sales and reestablish relationships.
- We have renegotiated the note with Dutches capital from $1.6 million to $1.2 million.
- Only 5 million shares of preferred stock have converted, as of today's date.
- Acquired On Track Technology Solutions Inc., with more than $500,000.00 in assets and equipment, for 25 million restricted shares.
Progress Overview and 2012 Outlook
Over the last seven months, Unity Management Group Inc. has achieved multiple milestones in product and corporate development. This has been a year of significant changes and additions for Unity Management Group Inc.
As far as changes to our capitalization, Unity Management Group, Inc. has renegotiated the note with Dutches capital from $1.7 million to $1.2 million. We are currently in discussions to further reduce this indebtedness to $500,000.00. Dutches has proven to be an impressive partner in our business. Only 5 million shares of preferred stock have been converted, as of todays date.
Unity Management Group Inc. has completed several key acquisitions that management believes will add long-term value to shareholders. In October 2011, we acquired Metropolitan Computing Corporation, a Pharmacy Calibration and Instrumentation Company that has been in business for more than 25 years. We have been able to bring back the original Scientist and founder to the company, a move that will help to increase sales, and reestablish relationships with many of the original pharmacy companies that have done business with Metropolitan Computing Corporation for many years. Our new management has been in place at Metropolitan Computing Corporation for more than a year and we have made many significant improvements that we believe will benefit shareholders in the long-run.
Unity Management Group Inc. recently acquired On Track Technology Solutions Inc. in a stock for stock transaction that consisted of 25million restricted shares. On Track brings more than a half million in assets and equipment to our balance sheet. Additionally, On Track Technology Solutions, Inc. has analyzed the different types of oil producing reservoirs in most of the major geological basins in the United States and determined that the use of their process and method will enhance the recovery of stranded oil reserves in these areas that otherwise will never be produced.
"The key steps we have taken over the last several months to strengthen our capital resources and enhance our product offerings clearly positions Unity Management Group Inc. for growth and future acquisitions, a position which we intend to now extensively exploit," said Unity Management Group President, Michael Oliver.
About Unity Management Group, Inc.
Unity Management Group, Inc. maintains a network of contacts in the financial community. Our experience facilitates the development of relationships that may lead to financing, joint ventures and other opportunities that are so essential in this age of business and technological relationships.
Unity Management Group, a business resource company, will continue to provide innovative management services that offer high value and significant return on investment through its three subsidiary companies: Unity Capital Acquisitions, Unity Technologies Inc., and United Business Services Inc.
Unity Technologies Inc. is a complete software solutions company offering billing, electronic medical records, and electronic health records for physicians' offices and hospitals.
Unity Capital Acquisitions will focus on building and accelerating growth oriented companies, with the intent of spinning them out to our shareholders as separate public companies.
For more information please go to our websites which can be found at
About On Track Technology Solutions:
On Track Technologies Solutions Inc. is a service, heavy Equipment and production company. They develop solutions through their R&D department and through the services department. They work with other service companies and are available to preform services and provide equipment to their company fields after acquisition, to third party companies for hire and for state and regulatory agencies projects. On Trac combines existing technologies for production equipment, EOR equipment, Treatments (chemicals, CO2, Nitrogen and mixtures) and processes to provide unique solutions and enhancements for service, hydrocarbon production, and building of structures/infrastructures. On Trac Technologies Solutions Inc. may identify service and acquire energy properties with previously discovered known oil and gas reserves that have not either been fully produced, or fully developed and defined. They will accomplish this through joint venture, farm outs, acquisition, third party service fee, or other means. Utilizing new and existing proprietary technologies. Additionally they will be providing equipment, preforming heavy equipment construction work in multiple industries, providing multiple services; depending on the need of a project. On Trac believes the oil gas industry and EOR segment is a rapid booming field; On Trac expects to generate profit in in this field as well in other fields of operation.
On Track Technology Inc. uses multiple patent technologies for Enhanced Oil Recovery (EOR) gas treatment. We will use this patented technology with other proven EOR technology currently used in the industry. Throughout the United States there are primary depleted oil reservoirs representing billions of barrels of oil that lend themselves to the use and exploitation of Enhanced Oil Recovery and On Track Technology Inc.'s proven patented technology. Without EOR technology, these reservoirs will produce only about 20% of their Original Oil in Place. Gas injection EOR is a proven method that has been in use over the last 50 years in the oil fields of West Texas, Kansas, Oklahoma, Michigan, Wyoming and Oklahoma.
Certain information discussed in this press release may constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995 and the federal securities laws. Although the Company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the Company's inability to accurately forecast its operating results; the Company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the Company's business. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
Unity Management Group, Inc. Investor Relations 855-413-0755
SOURCE Unity Management Group, Inc.