SCOTTSDALE, AZ, April 30 /PRNewswire-FirstCall/ -- On4(TM) Communications, Inc. ("On4(TM)") (ONCI.OB) announces the company is on target to meeting its 2010 business targets for revenue and debt reduction.
On4(TM) Communications President and CEO Cameron Robb, says, "Overall, we are very pleased with both the effort and progress the company has made year to date. A lot of hard work has been done in moving On4 from a development stage company to one which is ready for operational reoccurring revenue."
So far, this year, On4(TM) has announced; - an exclusive licensing agreement deal that enables On4(TM) to provide broad based GPS hardware and software solutions surrounding the tracking, locating and monitoring of people, property and animals and, - the roll out of its LBS vehicle tracking service with National Cash and Credit and, - the company has also eliminated approximately $1,050,00 in debt from its balance sheet and is working on eliminating a further $600,000.
In a market that analysts expect will see exceptional growth, and with North America predicted to lead the growth, the demand for Location Based Services (LBS) will be very robust. According to the research firm, Gartner, Inc. a LBS sector research firm, "that only 5 to 20% of the targeted audience for LBS has been tapped and that mainstream adoption will occur by 2012."
As Mr. Robb has said, "The company's business plan is to grow revenues both organically and through acquisitions and we believe that through the agreements we now have in place, and those that the company will soon be entering into, along with the debt reduction, the company is in an exceptional position to rapidly gain market share."
About On4(TM)
On4(TM) Communications is a globally diversified Location Based Services (LBS) company with offices in Scottsdale, Arizona; in Richmond, British Columbia and representation in China. On4(TM) is a leading provider of Public Safety, Personal Asset and Healthcare location based asset tracking and monitoring services. The company is currently in the process of designing, developing, and marketing personal LBS devices that are intended to provide tracking and location monitoring for people, animals and property of any other nature. Specific applications may include offender monitoring, elderly, medical, teens and children tracking, public safety officers, executives, cars, tracks, motorcycles, aircraft, boats, personal watercraft, ATVs, equipment, cargo, tools, trailers, electronic equipment, retail goods, and consumer goods in transit.
On4(TM) will utilize numerous technologies, including but not limited to CDMA, GSM, GPS, E911, A-GPS, radio frequency and beacon technology. On4(TM)'s leading edge technology leverages global positioning system satellites and wireless technology enabling its network of members to locate anyone or anything to which our device is attached in real time.
Cautionary Statement Relevant To Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of On4 Communications, Inc. (the "Company") and its subsidiaries. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding: the general ability of the Company to achieve its commercial objectives; the business strategy, plans and objectives of the Company and its subsidiaries; and any other statements of non-historical information. Words such as "anticipates," "expects," "plans," "projects," "believes," "seeks," "estimates," and similar expressions are intended to identify such forward-looking statements. The statements are based upon management's current expectations, estimates and projections, are not guarantees of future performance, and are subject to a variety of risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict, including those discussed in the Company's periodic reports that are filed with the SEC and available on its website (http://www.sec.gov/). You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Unless legally required, On4 Communications, Inc. undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
On4 Communications, Inc.
CONTACT: On4(TM) Communications, Inc., Joe Noel, (925) 922-2560
