OTC Financial Network Issues Strongly Favorable Report On Airtrax
Monday November 22, 9:58 am ET
HAMMONTON, N.J., Nov. 22 /PRNewswire-FirstCall/ -- Airtrax, Inc. (OTC Bulletin Board: AITX - News), a developer of patented, omni-directional technology with military and commercial applications, announced today that OTC Financial Network, a division of National Financial Communications Corp., has issued a strongly favorable InvestorFacts report on the Company. The report includes a profile of the Company's technological advantages; commercial product lines; strategic partnerships and investment considerations. Interested parties can view the report online at http://www.otcfn.com/aitx/report.html or call 781-444-6100 ext. 629 for reprints.
Geoffrey Eiten, president of National Financial Communications, stated, "Omni-directional vehicle technology has been the subject of research and development for over 25 years. Since 1996, Airtrax has evaluated, tested and redesigned the technology with unique competitive and economical advantages, and is now making omni-directional products commercially viable for the first time in history."
Eiten continued, "Airtrax has a number of impressive, exclusive agreements in place to distribute, market and manufacture breakthrough omni-directional vehicles, the Sidewinder(TM) forklift and Phoenix(TM) aerial work platform. Pre-orders for the Sidewinder indicate strong market demand on a worldwide basis. Airtrax expects to begin generating revenues in the fourth quarter of 2004, with near-term profitability, representing a groundfloor opportunity for the early investor to maximize returns."
About OTC Financial Network
OTC Financial Network, a division of National Financial Communications Corp. (http://www.nationalfc.com) based in Needham, Massachusetts, is a full-service financial communications and investor relations firm that specializes in micro-cap companies. The Company's proactive campaigns are custom designed to strengthen each client's presence in the investment community by disseminating breaking news and fundamental positions to spheres of influence; building upon the client's existing shareholder base; and soliciting institutional coverage. For more information, visit http://www.otcfn.com.
About Airtrax, Inc.
A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).
The SIDEWINDER(TM) Omni-Directional Lift Truck and the MEC-Airtrax Phoenix(TM) aerial work platform (AWP) are the first commercially produced omni-directional vehicles using omni-directional technology and the patented Airtrax wheel. Unlike any other lift truck, the SIDEWINDER or the Phoenix AWP can turn 360 degrees in its own footprint, allowing warehouses to utilize 20 to 30% more of existing space. The nearly maintenance-free design also drastically reduces maintenance costs, delivering tremendous cost efficiencies to companies both large and small. The omni-directional wheel is manufactured by The Timken Company under exclusive production rights to Airtrax. For more information and to view a must-see product demonstration, visit http://www.airtrax.com.
Disclaimer: OTC InvestorFacts, published by National Financial Communications Corp., endeavors to supply its readers with sound opinions and advice based on its analysis of publicly available information from sources believed to be reliable, but makes no representation as to its accuracy or completeness. Opinions and advice of OTC InvestorFacts are not based upon individual needs or investment objectives of readers nor are they an offer to buy or sell securities. National Financial Communications Corp. and the publisher of OTC InvestorFacts have received fees and compensation from the featured company. National Financial Communications Corp., its affiliates and subsidiaries and/or their officers and employees may from time to time acquire, hold or sell a position in the securities mentioned in its profiles. Upon request, the Company can furnish specific information in this regard. For full disclosure information, visit http://www.otcfn.com/aitx/disclaim.html.
The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
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Airtrax Enters Into Long-Term International Distribution Agreement
Friday November 19, 8:03 am ET
- Brings Immediate Sales of $120,000 with Potential Ramp up to $2 Million by 2005 -
HAMMONTON, N.J., Nov. 19 /PRNewswire-FirstCall/ -- Airtrax, Inc. (OTC Bulletin Board: AITX - News), a developer of patented, omni-directional technology with military and commercial applications, announced today that the Company has entered into a 5-year international distribution agreement with EMCON General Trading LLC located in Dubai, United Arab Emirates for the purchase of three Sidewinder(TM) Omni-Directional Lift Trucks.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040824/PHTU001-b )
The agreement is effective through 2009, at which time it may be automatically renewed for an additional three years. The yearly sales requirement for EMCON's elected area of primary responsibility (APR) is the countries of United Arab Emirates, Qatar and Bahrain. According to the agreement, EMCON will use Airtrax's Sidewinders for demonstration purposes and to promote the sale of Sidewinders throughout its APR.
Peter Amico, Airtrax President and CEO, stated, "This international agreement is a testament to the global appeal and scope of our product's applications. Deemed a 'disruptive technology,' our omni-directional vehicles offer one of the world's most innovative alternatives to existing forklift options. Through demonstrating our product, potential users and purchasers can experience unprecedented maneuverability and increased usage of warehouse space. Our distribution agreement with EMCON General Trading LLC results in immediate sales of approximately $120,000, with potential recurring sales of $2 million or more beginning in 2005."
About Airtrax, Inc.
A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).
The SIDEWINDER(TM) Omni-Directional Lift Truck and the MEC-Airtrax Phoenix(TM) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. Unlike any other lift truck, the SIDEWINDER or the Phoenix AWP can turn 360 degrees in its own footprint, allowing warehouses to utilize 20 to 30% more of existing space. The nearly maintenance-free design also drastically reduces maintenance costs, delivering tremendous cost efficiencies to companies both large and small. The omni-directional wheel is manufactured by The Timken Company under exclusive production rights to Airtrax. For more information and to view a must-see product demonstration, visit http://www.airtrax.com.
The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
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Airtrax Receives Initial Orders for 55 Units of the Sidewinder(TM) -- Total Value of More Than $1.75 Million --
Friday November 12, 7:02 am ET
HAMMONTON, N.J., Nov. 12 /PRNewswire-FirstCall/ -- Airtrax, Inc. (OTC Bulletin Board: AITX - News), a developer of patented, omni-directional technology with military and commercial applications, announced today that the Company has received multiple orders from its dealership network for an initial 55 units of the Sidewinder(TM) Omni-Directional Lift Truck. As a result, the Company expects to begin generating revenues in the fourth quarter ending December 31, 2004.
(Photo: http://www.newscom.com/cgi-bin/prnh/20040824/PHTU001-b)
Airtrax has been building a world-class supply chain with strategic suppliers. Danaher Motion Control, Schaeff Forklift and The Timken Company, each provide critical components and/or assembly of the final product. The Timken Company has the exclusive rights to supply the patented Airtrax wheel and will supply wheels for the production of the first ten Sidewinders being built this quarter.
Upon receipt of the wheels, assembly of the first ten Sidewinders lift trucks will begin at Schaeff Forklift in Bridgeview, Illinois. Airtrax's key suppliers have developed the plans and processes necessary to meet 2005 production projections. "The industry stature of our supply partners is just one of the reasons we've selected them to provide critical components," said Peter Amico, Airtrax President and CEO.
Amico also stated, "Receiving these initial orders, valued at over $1.7 million, for the Sidewinder marks a milestone achievement in bringing our revolutionary omni-directional vehicles to market. Production of the Sidewinder vehicle has taken longer than we anticipated due in part to delays in outsourced parts both overseas and in the United States. Airtrax has been particularly sensitive to keeping the manufacture of this product U.S.- based."
Amico concluded, "We are pleased to announce ANSI (American National Standards Institute) testing of the Sidewinder has begun. We look forward to the beginning of production and generating initial revenues in the fourth quarter of 2004."
About Airtrax, Inc.
A U.S.-based developer of omni-directional technology, Airtrax designs and manufactures omni-directional vehicles. A patented wheel was designed and developed by Airtrax after receiving a technology transfer from the US Navy in the form of a Cooperative Research and Development Agreement (CRADA).
The SIDEWINDER(TM) Omni-Directional Lift Truck and the MEC-Airtrax Phoenix(TM) aerial work platform (AWP) are the first omni-directional vehicles using omni-directional technology and the patented Airtrax wheel to be commercially produced. Unlike any other lift truck, the SIDEWINDER or the Phoenix AWP can turn 360 degrees in its own footprint, allowing warehouses to utilize 20 to 30% more of existing space. The nearly maintenance-free design also drastically reduces maintenance costs, delivering tremendous cost efficiencies to companies both large and small. The omni-directional wheel is manufactured by The Timken Company under exclusive production rights to Airtrax. For more information and to view a must-see product demonstration, visit http://www.airtrax.com.
The Private Securities Litigation Reform Act of 1995 provides a "Safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not historical facts, are forward-looking statements with respect to events, the occurrence of which involved risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company's reports filed with the Securities and Exchange Commission.
If indeed the tech is patented ( which I am certain it is ) this stock should roll. Even if the patent owners sell the tech to other companies like CAT or Mitsi, Toyota, Hyster, Yale - I see a new line of narrow aisle or tight space applications emerging.
This tech would be good for manufaturers, warehouses and stevedoring ( ship freight handling )
I'm in - 1000 shares - this one IMHO may take a while to post sustantial gains , but in the end ( mid 05 ) I think you can make some money
Anyways, I think this company seems to be a good choice and the fact that you, someone who knows about lift trucks, also thinks it's a good idea, boosts my confidence in this choice.
Thanks, later.
I have just gotten word that this may actually be the time to sell this stock even though it has not gone up. I just got advice from a really experienced trader that this stock is about to drop and it would be better to sell now and wait for it to drop, and then buy back in.
Luckily it is still at 1.40 and hasn't budged since I bought the stock, so i'm going to go ahead and sell it tomorrow.
I'll keep you updated on the advice I get from the new message board i'm at.
Later
Derek