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Wednesday, February 10, 2010 5:33:28 PM
12:41p ET February 10, 2010 (Business Wire)
UDS Group, Inc. (Pink Sheets: UDSG), the leader in Delivery Management Solutions, is pleased to announce that it has been acquired by iTrackr Technologies that trades on the Pink Sheets under the ticker symbol: ITKR. The new combined company has finished the required applications that will be submitted to the appropriate governing agencies in the upcoming days to immediately change it's corporate name to Delivery Technologies Solutions Inc. Management believes the new name better reflects its ongoing business description.
The Board of Directors has elected and approved Ryan F. Coblin CEO of Universal Delivery Solutions as the new CEO of iTrackr Technologies. In its first official act the Board of Directors has made the Universal Delivery Solutions Business model its main focus of operation while incorporating certain synergies from iTrackr Technologies.
Additionally, the newly appointed Board of Directors of iTrackr Technologies authorized a special stock consideration to all shareholders of record as of January 15,( )2010 of UDS Group, Inc. Shareholders of UDS Group, Inc. will receive a consideration of 1 share in iTrackr Technologies stock for every 50 shares they own in UDSG. The consideration granted to the UDSG shareholders of record will bring the total amount of shares outstanding in iTrackr Technologies to 34 million shares. The company plans to issue these shares to shareholders of UDS Group sometime within the coming weeks, and is making the appropriate arrangements to communicate to its shareholders how they are to receive the new shares.
Ryan F. Coblin, CEO of UDS / iTrackr commented, "It's been a long road, but I am honored to be able to address our shareholders and the entire investment community. After months of strategizing with the management team and outside advisors as to the best course of action, it became very clear a new technology partner would enable UDS to continue to focus its energies towards growing its core business while protecting our existing shareholders." Ryan F. Coblin also stated, "In the coming weeks and months, I am looking forward to updating the investment community and our shareholders with regards to our business endeavors and partnerships from the past months as well as our company wide goals moving forward."
Upon approval from the appropriate governing agencies, iTrackr will change its name to Delivery Technology Solutions and will trade on the OTC Pink Sheets under a symbol to be determined by the appropriate agencies. Until such time as approved, any trading in the company's shares will be under the current symbol, ITKR.
About Universal Delivery Solutions, Inc.:
Universal Delivery Solutions, Inc. (UDS), www.UniversalDelivery.com, is the leader in providing comprehensive custom-developed catering/delivery solutions to industries throughout North America, including restaurants, retail and others. UDS solutions offer a seamless system that integrates Customer Relationship Management (CRM) and Call Center IT services through a proprietary technology backbone to offer convenience, consistent quality, flexibility, accountability and value for consumers and companies.
Safe Harbor:
The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from acquisitions or actions in development are forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "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. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results.
SOURCE: UDS Group, Inc.
UDS Group, Inc / iTrackr Technologies
Mr. Ryan Coblin , CEO, 561-674-9520
or
Pearl Group Advisors, Inc
Investor Relations, 954-232-5363
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