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Tango Inc. Business Plan Takes Significant Step Forward; Gearing the Company for a Formidable Foothold in a Lucrative, Underserved Market
CALGARY, Alberta--(BUSINESS WIRE)--May 31, 2005--Tango Incorporated (Pink Sheets:TNGO) and its Board of Directors are pleased to announce the company's targeted business plan and market strategy.
Tango is making a rapid segue into the role of a unique management company catering to the wholesale automobile industry.
Tango has adopted a service that has been developed and designed to fill a critical gap in the pre-owned vehicle sales cycle.
Using leading edge communication technologies, designed and defined by information industry leaders, Tango will establish a new industry standard; bridging the time and communication gap between the pre-owned vehicle departments of franchised automobile dealerships. These processes are designed to augment the existing sales cycle.
This process of "object oriented salesmanship" brings profitability, confidence, security and financial stability to an otherwise tenuous sales process. It allows the salesperson to focus on what they do best, selling. The transactions and paperwork take care of themselves.
Based on statistics from the 2004 Canadian Used Vehicle Report, coupled with Tango's transaction fees, the market for the company's services exceeds $11,000,000.00 per month. The market in the USA approaches an order of magnitude, times two, greater than this. Tango's immediate roll out goals are to gain 10% of the Canadian market and 1% of the, overall, North American market.
"It's no surprise to learn that massive change is required in the wholesale pre-owned vehicle sales market. While traditional methods have served the industry with some success, they are costly, outdated, slow, and inefficient," said Tango's President and CEO, Mr. Gregg Shykora.
He continued, "In today's wireless world, the wholesale pre-owned auto-market is currently operating on Stone Age technology. Tango's solution will free its clients from the boundaries of inefficient and outdated business practices and catapult the industry into the 21st century."
Safe Harbor: This press release contains forward-looking information within the meaning of section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934 and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Tango Incorporated to be materially different from the statements made herein.
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