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On The Go Technologies Group (OTCBB: ONGO) Up Over 25%
ONGO is up over 25% at $0.74 per share!
On The Go Technologies Group (OTCBB: ONGO)
On The Go Issues Year End Shareholder Update
Company Has 3 Years of Record Revenues and Strong Outlook For 2007
CONCORD, Ontario, Dec. 11 /PRNewswire-FirstCall/ — On The Go Technologies Group (OTC Bulletin Board: ONGO – News), a leading multi-industry computer hardware, software and systems integrator, announced today a Shareholder update from President and CEO, Mr. Stuart Turk.
On behalf of the On The Go Management team and Board of Directors, I’m proud to announce that, after a busy year of accelerated sales and diligent cost cutting, we have turned the proverbial corner, and are well on the way of becoming one of the best solutions providers in North America.
Our robust three years of growth has seen many milestones:
– The year ending July 2004 served as our launch pad into the IT Sales
and Services marketplace. With the acquisition of Compuquest, we gained
prestigious hardware and software authorizations, and began to service
multinational Fortune 500, Government, Hospitality and Financial
Services clientele.
– We generated gross revenues of $3,012,902 for our 2004 year end.
– Our IT sector growth continued in 2005 with the addition of an in-house
studio and multimedia division as well as the acquisitions of two
stellar companies: Helios/Oceana, a prominent North American systems
integrator in the digital entertainment, education and print
industries, and Infinity Technologies, a Canadian industry colleague of
Compuquest in the SME and Fortune 1000 corporate arena.
– Generated revenues grew to $5,570,778 for our 2005 year end.
– On The Go was ranked as the 34th revenue generating IT solutions
provider in Canada by Computer Dealer News (’CDN’), the nation’s number
one IT channel publication.
– Our 2006 fiscal year saw the greatest acceleration of growth commencing
with the purchase of two additional IT entities: Island Corporation, a
digital solutions provider in the diagnostic medical and scientific
communities, and Solutions In Computing. The SIC purchase established
us as one of a few Apple authorized service depots in Canada.
– 2006 Annual revenues reached $30,011,797, a gain of 439% from $5.5M the
previous year.
– We shipped the largest single order in the Company’s history, a $1.15M
hardware request and Clients with annual orders of $1M and over have
grown substantially.
– We moved up considerably from Computer Dealer News’ (’CDN’) 34th
ranking in 2005 to 26th in 2006 for IT solution provider revenue
generation in Canada.
Our continued streamlining of operations will allow us to continue our growth and the outlook for 2007 has never looked better:
– We have reduced acquisition debt by approximately $2.8 Million this
calendar year.
– Staffing has been synergized achieving over $1.5 Million in cost
savings
– Our revenues are on track for a record $40M for our year ending July
31, 2007
– Our new branding efforts and revisal of the Company’s divisions: OTG
Enterprise Management and Business Solutions, Creative Solutions,
Disaster Recovery, Healthcare and Research Solutions and Advance
Infrastructure and Hardware Maintenance, have received great response.
– With the launch of an aggressive advertising and industry sponsorship
campaign, we’ve not only strengthened our reputation as a major sector
player, but have also grown organically with existing customers and
gained new clientele.
Mr. Turk continued, “Despite the usual obstacles that typically present themselves to growing companies, we have maintained our resiliency and used all of our industry opportunities for the Company’s strongest possible fundamental progress. As we continue to grow and strengthen our industry standing, I look forward to keeping you informed of our progress.”
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 four main divisions: OTG Enterprise, catering to Fortune 1000 and SME clientele and vendors such as HP, Apple, IBM, SGI, Extreme Networks and Adobe; OTG Creative, a prominent systems integrator in the U.S. and Canadian digital entertainment industry; and OTC Healthcare and OTG Research compiling sophisticated digital solutions and networks for the diagnostic medical community and the education and scientific research communities respectively. 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.otgtech.com or http://www.otgtech.com/video.
To view a company profile, visit http://www.otgtech.com/pp.pdf.. To be added to On The Go Technologies Group’s e-mail list for company news, visit http://www.otgtech.com/new_site/inv_pkg_form.htm
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
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