Auto-Q International Inc. Makes 'Real Progress' and is a 'Sleeper' with Potential Orders of $1,050,000 US as Reported by Wallstreetcorner.com
LONDON, Oct. 23, 2003 -- Auto-Q International Inc. (BULLETIN BOARD: AUTQ) announced today that the company will be featured in Wallstreetcorner.com. According to Larry Oakley, Auto-Q International Inc. has made "Real Progress" over the last few months.
"On 7/23/2003, I covered AUTQ in my Stock Pick column. It was trading at $0.10 then (7/22/2003 close). It closed last evening (10/21/2003) at $0.24, a gain of 140% so far. I say 'so far' because in my opinion, this situation is a sleeper with far greater appreciation potential," stated Larry Oakley, Wallstreetcorner.com.
Seven local UK government agencies are completing testing on 94 eGuard units (these initial test orders total a bit over US$150,000). Each of the seven agencies are expected to issue purchase orders of a minimum of 100 eGuard units. The last trial is scheduled to be completed by 2/7/2004.
"Think about this -- assuming the orders total 700 units at an average price of say US$1,500, that would come to US$1,050,000, and that's just for one of AUTQ's products," stated Larry Oakley, Wallstreetcorner.com. Mr. Oakley continues, "Since in my opinion AUTQ probably has a gross margin of about 50%, that scenario could move AUTQ ahead rather quickly."
Recently in the UK, there has been pressure on local governments to be accountable for delivery of all services including highway gritting and snow clearance, garbage collection, street cleaning, road repairs, street lighting, gulley emptying, etc. Auto-Q International Inc. systems can monitor when, where, and what was done by each vehicle. Local governments are now expected to be able to prove work done, and are expected to defend claims for loss or damage to property alleged to be done by their vehicles.
Mr. Oakley continued, "AUTQ is a UK corporation. It provides vehicle tracking and monitoring systems for trucks, busses, and cars. The systems provide tracking positioning, security, fuel monitoring, navigation, data acquisition, and reporting. On 6/26/2003, AUTQ announced its FleetTrak System was installed on 225 vehicles of the Pepsi Cola subsidiary Walkers Distribution Ltd fleet. On 7/21/2003, it received orders from furniture giant MFI to outfit some of its vehicles with FleetTrak as a test -- on 10/1/2003, it received a follow-on order for US$125,000 to equip 31 additional vehicles."
Auto-Q recently announced plans to enter an estimated $1.35 Billion US Market with a new safety tracking device designed for school buses called BusTrak. The BusTrak Safety System is designed with the more than 23.5 million elementary and secondary school children in mind who ride school buses daily throughout the United States, twice a day. There are more than 450,000 yellow school buses that provide transportation service daily nationwide to these children. The National Highway Traffic Safety Administration reports an estimated 8,500 to 12,000 children injured in school bus accidents annually and an average of 11 children are fatally injured inside school buses annually.
For the complete Auto-Q International Inc. article as reported by Larry Oakley visit www.wallstreetcorner.com
For investor information please contact Matt Maguire at 407-884-0444 or 1-866 THE APPLE. www.auto-q.com. Certain statements contained herein are "forward-looking statements" (as such term is defined in the Private Securities Litigation Reform Act of 1995) Because such statements include risks and uncertainties actual results may differ materially from those expressed or implied by such forward looking statements. Factors that could cause actual results to differ materially from those expressed or implied by such forward looking statements include but are not limited to, economic conditions, market acceptance of products, risks in technology, and product development.