PITTSBURGH, PA, Nov 23, 2010 (MARKETWIRE via COMTEX) -- Optimized Transportation Systems, Inc. (OTCBB: OPTZ) is pleased to announce that the company has secured one million two hundred and fifty thousand dollars in a preferred equity financing with a New York City based equity group (the "group"). The equity shall be purchased through preferred stock; the price will be determined based on individual tranche notices that the company submits to the Group. As such, the price will be determined by a five day volume weighted average price. "We are extremely pleased with the financing," said Kevin Brennan, the company's CEO. "This will allow us to pay off old debt and strengthen our balance sheet while providing the capital needed to close on the most recent acquisition we have discussed over the last several weeks. We now believe that we are well positioned in the Logistics space, and can move our business plan forward which will offer our shareholders the growth we have been positioning for over the last year," said Brennan.
About Optimized Transportation Systems, Inc.
Optimized Transportation Management, Inc. is growing to become a full-service supply chain logistics company. The Company has begun implementing its plans for helping great companies discover, manage and execute their most effective global supply chain strategies. We exist to add real, measurable value throughout our customers' fulfillment process -- the accent is on customers. Our team, technology and value-added solutions allow organizations to have world-class visibility, information and controls without disrupting existing plans, processes, partnerships and information systems.
Our acquisition strategies focus clearly on our ability to provide end to end services for growing global opportunities. We will provide clients with global freight forwarding services, global document management, product staging, a powerful information technology that supports tight integration and total visibility among global factories, suppliers, and end-user customers sourcing product globally.
Additionally, we will focus on managing warehouse operations in support of existing clients and potential new clients, supporting both domestic and global supply chain strategies. We will operate each of our divisions independently, but sell and add real measurable value collectively. In addition to the synergies, this approach ensures the quality of our internal operations, but our joint capabilities provide significant value to our clients.
This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "intend," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the Company's dependence upon conditions in the air, ocean and land-based freight forwarding industry, the size and resources of many competitors, the need for the Company to effectively integrate acquired businesses and to successfully deliver its primary services, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission, including its most recent Form 8-K, Form 10-Q and Form 10-K filings. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
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