|By Business Wire||
|July 21, 2014 05:00 AM EDT||
Finda Corp Pty Ltd. acting as the exclusive distributor in Australia for Location Based Technologies, Inc. (OTCBB: LBAS), announced today a partnership agreement with Australian Warranty Network (AWN) to resell Commercial and Consumer LBT vehicle GPS tracker solutions into the automotive and other vehicle Extended Warranty market in Australia and New Zealand.
The LBT Vehicle GPS tracker products localized for the ANZ market consist of GSM quad-band devices designed to receive satellite transmitted global positioning coordinates that are then relayed through a GSM network to a smartphone, tablet, or web browser on a computer showing a vehicle’s position on a map. Commercial and consumer users of the LBT vehicle GPS tracking system are able to pin-point a vehicle’s location as well as monitor 60-day vehicle travel history including speed, altitude, or longitude/latitude coordinates all plotted on an easy to navigate map displayed on an Android or iOS mobile device, or a computer. The flexibility of the LBT system benefits all types of vehicle owners who want to monitor driver behavior, reduce costs on unnecessary vehicle use, or to recover stolen vehicles.
“We are excited about adding the LBT GPS tracking solutions to our suite of vehicle services sold by dealers throughout Australia,” said Ray Mahoney, CEO of AWN. He continued by adding, “This is an ideal way for (auto) dealers to expand their business by offering LBT GPS trackers to small-to-medium sized businesses and fleet owners wanting to keep track of their vehicles.”
Anthony Sissian, chairman of Finda Corp says, “Our relationship with AWN will provide an immediate distribution channel for LBT vehicle GPS trackers into the Australian new and used motor, and motorcycle dealerships. We are enthusiastic about this opportunity because we expect it to open up sales into other industry sectors like insurers, mechanical and electrical repair fleets, and possibly with finance brokers wanting to keep track of vehicles.”
“This is a great win for LBT to break into the Australian and New Zealand market through this partnership with AWN,” said Dave Morse, CEO of LBT. “We’re confident the LBT Vehicle GPS Trackers will be an attractive addition for auto dealers looking to complement their accessories business – as GPS trackers are becoming more appealing to small business owners trying to reduce operations costs, or even to families monitoring teenage driver behavior.”
Availability of the LBT Vehicle GPS Tracker product is set for summer of 2014. Auto dealers interested in offering LBT Vehicle GPS Trackers should contact their AWN representative to inquire about reseller authorization.
About Location Based Technologies
A publicly traded company, Location Based Technologies (LBAS) designs and builds dedicated GPS products and services that are affordable and easy to use. The Company’s consumer products are sold under the PocketFinder brand, and its commercial products are sold under the LBT brand. For more information, visit: www.pocketfinder.com or www.locationbasedtech.com.
About Australian Warranty Network
AWN has been leading the way in the Australian market for the Extended Warranty industry for 20 years. AWN understands that customer service is the most important job we do. How we manage our customers’ vehicle warranty claims sets us apart from all others.
About Finda Corp Pty Ltd.
Finda Corp is an authorized distributor of Location Based Technologies focused on the Commercial and Consumer markets in Australia, New Zealand and other channels in the Asian Pacific area. Finda Corp management are long term participants in the GPS/location based services industry in the JAPAC corridor.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management’s expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to competition, management of growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment and data center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, system interruption, inventory, government regulation and taxation and payments. More information about factors that potentially could affect Location Based Technologies’ financial results is included in Location Based Technologies’ filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent filings.
PocketFinder and Location Based Technologies, Inc. are trademarks of Location Based Technologies, Inc. registered in the U.S. and other countries.
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