myFreightWorld Technologies Consolidates Operations and Reduces Operating Expenses by 25%
Date : 03/15/2011 @ 12:01AM
Source : MarketWire
Stock : myFreightWorld Technologies Inc. (MYFT)
Quote : 0.039 -0.003 (-7.14%) @ 2:26PM
myFreightWorld Technologies Consolidates Operations and Reduces Operating Expenses by 25%
MY Freightworld Tech (USOTC:MYFT)
Intraday Stock Chart
Today : Tuesday 15 March 2011
myFreightWorld Technologies Inc. (PINKSHEETS: MYFT) announced today that it has recently consolidated operations at its Kansas City headquarters, which has increased efficiencies and reduced its current overhead expenses by 25%. By leveraging its selling, general and administrative expenses, the Company projects to increase Earnings Before Income Taxes, Depreciation and Amortization (EBITDA) by $1.2 Million over the next 12 months.
"Since we shifted our business focus to a Web-based software-as-a-service platform, we were able to consolidate operations, reduce expenses and boost our before tax profit margins. As a result, we have improved our financial position, an important step in moving forward to becoming a fully reporting company," said MYFT CEO J Michael Head.
About myFreightWorld Technologies, Inc.
myFreightWorld Technologies Inc. is a business services firm that specializes in providing technology, transportation and supply chain management services to third party logistics managers (3PLs) and transportation intermediaries (TIs), primarily in the United States. Leveraging its proprietary Web-based software platform, the Company provides its 3PL and Motor Carrier customers with a customer relationship management (CRM) information pipeline that provides complete visibility to shippers, consignees and other interested parties of shipments during the entire Shipment Life Cycle. Demonstrating its commitment to the environment, MYFT is a member of the U.S. EPA SmartWay Transport Partnership. For more information on the Company, visit www.myfreightworld.com.
myFreightWorld's vision is to realize shareholder value and wealth through monetization of its projects and potential discoveries through partnerships with significant players with ready capital and production expertise. The matters set forth in this press release may contain forward-looking statements regarding myFreightWorld and its business within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date on which they are made and myFreightWorld undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise. Statements are subject to risks and uncertainties that may cause actual results to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the OTC Pinksheets including the company's Annual Report, Quarterly Reports and other periodic filings.
CONTACT:
J. Michael Head
CEO
myFreightWorld Technologies Inc.
www.myfreightworld.com
1-877-549-9438
Email Contact
