DOVER, N.H., May 16, 2012 /PRNewswire/ -- Racing Limos
America, Inc., a subsidiary of Atlas Technology Group (OTC:ATYG),
posted a 53.4% increase in revenues over the previous quarter,
topping recent estimates.
In addition, Racing Limos America financials report a whopping
900% increase over the same quarter last year, as well as continued
reduction of overall debt.
"The first quarter numbers are even better than I thought," said
Atlas CEO and Racing Limos America President James Albion. "I was also surprised by how
much better we did first quarter of 2012 over first quarter
2011. What I'm most pleased about is that we continue to
reduce debt."
Albion says one of the big goals in 2012 is to get Racing Limos
America debt free. "If we are to get Canada opened this year, it needs to be
coupled with the elimination of our initial debt along with
continued revenue increases. If we can get Canada open without deepening our debt
structure, it will be a huge financial victory for us."
With continued franchise inquiries in both the US and
Canada, and the pursuit of
national marketing partnerships, Albion still believes 2012 to be
Racing Limos America's break-out year. "The first half of
this year has been setting things up nicely. If the second
half of 2012 is even a smidge of what could potentially happen,"
Albion smiles. "Wow."
About Racing Limos America, Inc.
Headquartered in Dover, NH
Racing Limos America, Inc. is a franchise operating system of race
car themed stretch limousines, focused on advertising and marketing
partnerships, business-to-business relationship development, and
specialty transportation. For more information visit
www.racinglimosamerica.com
Forward-looking Statements:
This press release contains forward-looking statements (as
defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended)
concerning future events and the Company's growth and business
strategy. Words such as "expects," "will," "intends," "plans,"
"believes," "anticipates," "hopes," "estimates," and variations on
such words and similar expressions are intended to identify
forward-looking statements. Although the Company believes that the
expectations reflected in such forward-looking statements are
reasonable, no assurance can be given that such expectations will
prove to have been correct. These statements involve known and
unknown risks and are based upon a number of assumptions and
estimates that are inherently subject to significant uncertainties
and contingencies, many of which are beyond the control of the
Company. Actual results may differ materially from those expressed
or implied by such forward-looking statements. Factors that could
cause actual results to differ materially include, but are not
limited to, changes in the Company's business; competitive factors
in the market(s) in which the Company operates; risks associated
with operations outside the United
States; and other factors listed from time to time in the
Company's filings with the Securities and Exchange Commission. The
Company expressly disclaims any obligations or undertaking to
release publicly any updates or revisions to any forward-looking
statements contained herein to reflect any change in the Company's
expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.
CONTACT: Racing Limos America, Inc. Investor Relations at
(800) 399-6717 or by email at
investwithus@racinglimosamerica.com
SOURCE Racing Limos America, Inc.