Ultrack Systems Inc (OTCMKTS:MJLB) provides GPS tracking solutions through the development, implementation, and distribution of electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal, and many other service driven industries.
The Ultrack platform includes live tracking, reports, and alerts on a web-based platform. The company’s mission is to provide the best fleet tracking, reporting systems, and commitment to service.
The Company recently retired 100M shares of common stock, dramatically reducing dilution and float, driving potential upside on any new interest. That was preceded by a sharp reduction in debt.
MJLB recently announced the acquisition and rebranding of Vexxar GPS Tracking, a successful company operating in the transportation industry that provides tracking solutions for drive-ends and trailers with refrigeration (reefer) controls. Ultrack originally acquired the client base of Vexxar on January 15, 2018. Unfortunately, the transaction was canceled due to incompatible tracking platforms. As a result of Ultrack’s updated tracking platforms, the transaction was able to be revisited successfully. Vexxar’s assets and customer base have now officially been acquired by Ultrack.
The company has also been working with EV manufacturers and integrating its tech. The Company has successfully integrated its tracking solutions into EV vehicles such as the BMW i8 and all Tesla models.
The company also recently partnered with the $27B telecom giant, Telus (NYSE:TU). TU was established in 1990 and is the second largest telecommunications provider in Canada and currently boasts over 12,000,000 monthly subscribers.
Ultrack CEO Michael Marsbergen stated: “$MJLB’s relationship with TELUS has benefited the Company on multiple levels. Firstly, TELUS’ technology was the right fit for Ultrack’s suite of products and services. Ultrack’s partnership with TELUS has made everything we offer better, faster, and more affordable to our subscriber base. Secondly, TELUS has also worked hand-in-hand with our design team to understand the nature of our business and develop scalable, custom solutions that benefit both us and them and that will carry us into the future. Finally, I trust that it is obvious to our shareholder base that this kind of professional exposure and validation from a major $25 billion dollar company like TELUS lets the investing public know in no uncertain terms that $MJLB is a very real and established company that is moving forward in the most cutting-edge ways possible.”
Looking ahead, MJLB is getting ready to roll out its new Electronic Logging Device. According to a recent corporate update, the company is planning the rollout of its ELD in Q1. The ELD market is currently booming because of the vast number of growing commercial fleets coupled with new Canadian national mandate and requirements. Many countries including the USA and Canada have begun mandating hardware that connects to a vehicle’s engine to record driving hours and other data. The ELD hardware is only as good as the software it pairs with and Ultrack provides the most robust software currently available in this growing industry. Especially important moving into 2021 is for ELD’s to offer data that is specific to trucking industry and Ultrack is already there and ahead of the curve.
Ultrack will be at the forefront of tracking hardware and software as fleets evolve from combustion engines into the EV transportation industry.
Ultrack plans to significantly expand its sales force across much of Canada in conjunction with the new ELD rollout. Additionally, as part of our new marketing initiative the current Ultrack website will be redesigned and enhanced.
In addition, with Ultrack’s strategic partnership with TELUS (NYSE:TU TSX:T) now secured the Company is leveraging the power of this relationship to lay groundwork with other major corporations for expansion into other countries, especially the USA. Ultrack is actively pursuing a USA rollout of its products and services and will be devoting Q2 to achieving this specific goal.
Marsbergen commented: “In order to provide the whole suite of potential services that Ultrack offers we will rely at least somewhat on the infrastructure of an existing tech/telecommunications giant. Having forged a partnership with TELUS that is currently working seamlessly and successfully gives us confidence and more open doors to do more of the same business in other countries. Since we have already proven ourselves in Canada, it just makes sense for us to begin aggressively marketing and moving into the USA. The GPS tracking and fleet management market in the USA is roughly 10 times the size of the Canadian market. I am committed to gaining a substantial footprint in the USA.”