LONDON, Aug. 16, 2011 /PRNewswire/ -- PTS, Inc. (PINK
SHEETS: PTSH) (www.ptspi.com) is pleased to announce that the
merger negotiations with Navistar Logistics (UK) Ltd.
(http://www.navistar.co.uk/) progress fast and on schedule.
Due to its International business and agency network, there
appears to be a strong interest from Navistar's global contacts. In
the company's opinion this could benefit PTSH and Navistar
alike.
Incoming CEO John O'Brien delivered following updates on
PTSH/Navistar's future, immediate and long-term plans.
Navistar takes no-nonsense position with all of Navistar
business, and the management presses on to finalize the merger and
deliver results to PTSH shareholders. The company expects to close
the merger within next few weeks – aiming at 10 working days
deadline.
Following the merger, company plans to elevate PTSH back to
OTCBB market or higher, as the company revenues in excess of
$10 million USD and accolades are
what can be called of "reporting value". This long-term plan
should be finalized within 3 to 9 months. The search for a PCBOA
auditor
http://en.wikipedia.org/wiki/Public_Company_Accounting_Oversight_Board
is well under way.
PTSH corporate web site www.ptspi.com has been updated with
Navistar information. Additional information about Navistar, its
management and operations can be found by visiting
http://www.businessrevieweurope.eu/magazines/3325.
Company reports indicate there are many strong business
negotiations ongoing, and expects to update shareholders following
the merger announcement.
PTSH is in a process of setting up an IR department to handle
shareholder enquiries.
The management will provide more details shortly and
frequently.
About Navistar Logistics:
Navistar has been established in the UK for over 10 years with a
wealth of experience and knowledge in all logistics disciplines,
and are members of the British International Freight Association
(BIFA), RHA and the Chamber of Commerce. Navistar Logistics (UK)
Ltd. is an international logistics freight forwarding company with
high quality warehousing in London, Birmingham, West
Bromwich, Manchester,
Newcastle and at all ports and
airports. Navistar specializes in air freight, sea freight and road
haulage, transfer customs clearance, storage and fulfillment.
Safe Harbor Statement
Information in this news release may contain statements about
future expectations, plans, prospects or performance of PTS, Inc.
that constitute forward-looking statements for purposes of the safe
harbor provisions under the Private Securities Litigation Reform
Act of 1995. The words or phrases "can be," "expects," "may
affect," "believed," "estimate," "project," and similar words and
phrases are intended to identify such forward-looking statements.
PTS, Inc. cautions you that any forward-looking information
provided by or on behalf of PTS, Inc. is not a guarantee of future
performance. None of the information in this press release
constitutes or is intended as an offer to sell securities or
investment advice of any kind. PTS, Inc.'s actual results may
differ materially from those anticipated in such forward-looking
statements as a result of various important factors, some of which
are beyond PTS, Inc.'s control. In addition to those discussed in
PTS, Inc.'s press releases, public filings, and statements by PTS,
Inc.'s management, including, but not limited to, PTS, Inc.'s
estimate of the sufficiency of its existing capital resources, PTS,
Inc.'s ability to raise additional capital to fund future
operations, PTS, Inc.'s ability to repay its existing indebtedness,
the uncertainties involved in estimating market opportunities and,
in identifying contracts which match PTS, Inc.'s capability to be
awarded contracts. All such forward-looking statements are current
only as of the date on which such statements were made. PTS, Inc.
does not undertake any obligation to publicly update any
forward-looking statement to reflect events or circumstances after
the date on which any such statement is made or to reflect the
occurrence of unanticipated events.
PTS, Inc.
For M&A and Corporate Matters
www.minamargroup.com
Phone: 1 647 426 1640
SOURCE PTS, Inc.