DOVER, N.H., Oct. 12, 2012 /PRNewswire/ -- Atlas Technology Group (OTC: ATYG) is reporting on some updates and strategy that will continue the company's forward progress.
Financials. Results on current franchise locations should be reported by or before October 31. Corporate financials for Q3 2012 should be reported by or before November 15.
Miami franchise. As Racing Limos America, Inc. has previously reported, there is a Letter of Intent for purchase of the franchise territory in Miami, Florida. That Letter of Intent had an expiration date of September 30, 2012. On September 27, Racing Limos America, Inc. issued an extension on the Letter of Intent through October 31. The company remains optimistic the franchise agreement will be finalized, and the franchise will launch operations by or before the end of the year.
Canada. In a previous press release, Racing Limos America, Inc. announced commencing paperwork to be able to offer franchises in Canada. Though the process has been slow, the company hopes to have access to doing business as a franchise company in Canada by or before the end of the year.ATYG "Company Makeover." CEO James Albion is reporting the company will be executing numbers of actions to restructure the company's branding, and its corporate and share structures. Though details are not yet available, Mr. Albion reports there will be several news releases over the coming few weeks that will detail these upgrades and developments. "We are confident these actions will help the company move forward," says Albion. "We're in a crossroads moment in which choices and direction are being decided. These decisions will have an immediate effect on the company here in quarter four and for the coming year."