NEW YORK, March 19, 2012 /PRNewswire/ -- (Pinksheets: ARNH) -- The Automotive Resource Network Holdings (ARNH.PK) has released a descriptive outline of the actions the company is pursuing through the first quarter of 2012, along with an explanation of the effect that these actions are likely to have on the company's momentum.
The information released includes a detailed summary of specific actions the company is taking and provides a solid overview of what shareholders and distributors can expect to see over the coming months. Management now strongly believes that TheARN now has the infrastructure, mandate, products, technology and personnel to establish itself as a major presence in the automotive industry by year end 2012.
CEO Kathy Roberton commented, "This has been a very tough and challenging road for us and we didn't always like the difficult decisions we had to make, but that's what is involved in building a strong foundation for a new start-up. I am very pleased with our strong and dedicated executive team, who has stayed focused and persistent during this time and has positioned us to move forward with a robust business platform. In the past 60 days, the entire team has worked very diligently to create a solid and profitable business."
The ARN now owns a very sophisticated proprietary software system that integrates with state-of-the-art MLM accounting software that allows a very sophisticated VIN (Vehicle Identification Number) decoding software and vendor fulfillment programs to be synched together into one turnkey, seamless system. Ms. Roberton explained, "This meshing of complex codes has taken much longer than we expected. However, since it forms one of the cornerstones to our business model, it was definitely worth waiting for and gives us a unique proprietary system that puts us far ahead of any competitor."
Additionally, over the past 60 days management has either completed [awaiting legal and board approval] or entered into contracts with various parties concerning massive debt reduction, a new exclusive product launch, a turnkey system to offer financing and other new unique services for the used car market, an email marketing system, DRTV commercials & sponsors, key management appointments, board appointments, branding and retail product marketing opportunities, and network marketing license agreements – all of which are presently in the works. The Executive Team is now awaiting full board approvals of these accomplishments, which are expected to be forthcoming at the company's first upcoming official Board of Directors and Management Meeting in Florida. All legal issues and documentation will be reviewed and approved at this key meeting, after which more specific details will be fully disclosed to the public.
Paul Redmayne, COO stated, "We are excited about what we have managed to accomplish during this first critical quarter. Once the Board of Directors has signed off on the full list of projects, our shareholders, distributors and vendors can expect to see important web strategy updates and changes, as well as a master strategic plan to drive sales and revenues." Redmayne added, "We are also excited about our service contract sales opportunity and how our unique system is progressing. During the past 60 days we have sold service contracts and seen customers successfully make their claims and get their vehicles fixed. We know the industry is ready for us, and now we are ready for the industry."
Over the next 30 days ARNH plans to release additional press releases regarding each individual initiative.
ABOUT THE AUTOMOTIVE RESOURCE NETWORK, INC.
The Automotive Resource Network, Inc. offers a unique month-to-month vehicle service contract as well as roadside assistance products direct to consumers through independent sales channels.
Safe Harbor Statement: Statements in this press release relating to The Automotive Resource Network Holdings, Inc.'s future plans, expectations, beliefs, intentions and prospects are "forward-looking statements" and are subject to material risks and uncertainties. When used in this press release, the words "will," "future," "expect," "look forward to," similar expressions and any other statements that are not historical facts are intended to identify those assertions as forward-looking statements. Any such statement may be influenced by a variety of factors, many of which are beyond the control of The Automotive Resource Network Holdings, Inc. (the "Company") that could cause actual outcomes and results to be materially different from those projected, described, expressed or implied in this press release due to a number of risks and uncertainties. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur. All information set forth in this press release is current as of March 19th, 2012. The Company undertakes no duty to update any statement in light of new information or future events unless required by law. "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.
The Automotive Resource Network Holdings, Inc.
SOURCE The Automotive Resource Network Holdings, Inc.