On The Go Technologies Group (OTCBB: ONGO) On The Go Reduces Debt and Overhead Costs by $1.4M and $1M Respectively; Reports Record Revenue to Date in 2006 CONCORD, Ontario, Sept 13 — On The Go Technologies Group (OTC Bulletin Board: ONGO), a leading multi-industry computer hardware, software and systems integrator, announced today that the company significantly reduced its debt and cut costs for 2006 fiscal year ended July 31. The company said record year ended revenue is in excess of $30 million. The company expects to report audited financial results for fiscal year 2006 before the end of October. Financial and fundamental highlights are as follows: * Since January, OTG has streamlined its financial structure with a $1.4 million debt reduction and a $1 million decrease in wages and overhead costs. * In addition to record year ended sales exceeding the company’s original $30 million target, the company is showing strong and steady growth in all operating divisions:� OTG Enterprise, OTG Creative, OTG Healthcare and OTG Research. One of the company’s latest acquisitions, Island Corporation (now part of OTG Healthcare/Research), has produced especially aggressive results in the medical diagnostic imaging and scientific research sectors. * OTG anticipates it will surpass $40 million in revenues for its 2007 fiscal year driven by continued organic growth and additional IT sales and service acquisitions. * With OTG’s enterprise divisions Compuquest and Infinity Technologies well positioned in the Fortune 500 and SME marketplaces, the company’s digital entertainment (OTG Creative) and medical community (OTG Healthcare/Research) sales divisions, Helios/Oceana, Solutions In Computing and Island Corporation, are strongly contributing to the company’s product authorizations with increases in their active customers to 130 and 1,700 respectively. OTG President and CEO Stuart Turk said, “We have experienced exceptionally strong performance in revenue and in our ability to trim costs to produce a healthy bottom line. OTG’s management and board of directors remain committed to doing what they’ve always done best year after year — bettering revenues and capital structure, building upon customer numbers and establishing an industry reputation for providing among the best in innovation and professional client solution packages. We believe our dedication and passion will ensure that OTG continues to thrive, hitting that $40 million sales projection and becoming a profitable entity.” About On The Go Technologies Group On The Go Technologies Group is a North American corporation focused on acquiring versatile and profitable companies in the IT sector. OTG has established itself as a respected industry competitor through its six divisions: value-added resellers Compuquest and Infinity Technologies, which cater to Fortune 1000 clientele and vendors such as HP, Apple, IBM, SGI, Extreme Networks and Adobe; Helios|Oceana, a prominent systems integrator in the U.S. and Canadian entertainment and education industries; Island Corporation, compiling sophisticated digital solutions and networks for the medical community; digital entertainment authority Solutions in Computing; and Go Motion + Design, the company’s complete in-house multimedia studio. The company’s intention is to maintain sustained growth in the years to come via continued development in its existing divisions and an aggressive acquisition schedule. For more information, visit http://www.oghc.com or http://www.onthegohealthcare.com/video. To view a company profile, visit http://www.hawkassociates.com/ongoprofile.aspx. To be added to On The Go Technologies Group’s e-mail list for company news, visit http://www.onthegohealthcare.com/new_site/inv_pkg_form.htm and http://hawkassociates.com/email.aspx. For investor relations information, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info@hawkassociates.com, or visit http://www.hawkassociates.com and http://www.americanmicrocaps.com. This press release contains forward-looking statements that involve a number of risks and uncertainties. These forward-looking statements contain words such as “expects,” “believes,” “anticipates” and “intends.” Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting the B2B environment; continued ability to obtain hardware, software and peripherals at competitive costs; the company’s ability to finance its planned expansion efforts; the company’s ability to manage its planned growth; and changes in regulations affecting the company’s business and such other risks disclosed from time to time in the company’s reports filed with the Securities and Exchange Commission. The company does not intend to update any of the forward-looking statements after the date of this document to conform these statements to actual results or to changes in management’s expectations, except as required by law. Source: On The Go Technologies Group View the StockGuru Profile for On The Go Technologies Group: http://www.stockguru.com/profiles/ongo/ We Invite you to Visit the All New StockGuru Blog! Here you will find updates on all our covered companies, including Profiled Companies and StockGuru Picks. Click HERE to visit the Blog, or go to: http://stockguru.com/blog/ StockGuru.com is owned and operated by Pentony Enterprises LLC, 9555 Lebanon Road, Suite 103, Frisco, Texas 75035. Telephone: (214) 458-4258. Web: StockGuru.com. Email: Publisher@stockguru.com. Disclosure: Pentony Enterprises LLC and and its affiliates have been compensated a total of 9,220 restricted 144 shares of stock and $23,500. We still hold 8,820 restricted 144 shares. Neither TalkingStocks.com, LLC, nor its affiliates, are registered investment advisers or broker/dealers. 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StockGuru News: On The Go (OTCBB: ONGO) Reduces Debt and Overhead Costs by $1.4M and $1M Respectively; Reports Record Revenue to Date in 2006
September 13, 2006 at 1:39pm
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