CALGARY, Sept. 19, 2017 /CNW/ - Trakopolis IoT Corp.
(TSXV: TRAK) is pleased to provide an update on strong sales
results of its recently launched (Electronic Logging Device) ELD
product.
The Company has won a new enterprise customer for its ELD
offering bringing the number of active ELD subscriptions to 332
with the potential for an additional 750 from initial customers.
Active pilot projects represent further opportunities in excess of
600 ELD units.
Trakopolis' Chief Revenue Officer, Ted
Duffield commented, "One out of three of our new sales
opportunities has an ELD requirement which has surpassed our
initial expectations. Urgency in the market combined with our
established channel and product offering positions us well for
continued growth."
"Expanding average revenue per units (ARPU) is a key objective
of Management and we are very pleased with the results to date in
that regard," stated Brent Moore,
Chief Executive Officer of Trakopolis.
Watch our ELD Solutions Video Here:
https://www.youtube.com/watch?v=js7-2oaNNZs
About the ELD Mandate
Another key driver of growth for the telematics industry overall
is the incoming electronic logbook requirements. This is a result
of the U.S. FMCSA's (Federal Motor Carrier Safety Administration)
new rules aimed at improving the safety of commercial truck and bus
drivers. The rule requires drivers to install and use electronic
logging devices (moving away from paper records) to ensure the
compliance with hours-of-service regulations. The new rule will go
into effect in December 2017 and will
be implemented in phases over the following two years. Canada is expected to follow with similar
regulations. To enhance its offering in this area, Trakopolis
purchased the electronic logbook software assets of Verigo in
November 2016. Trakopolis is now able
to offer its growing customer base a solution to address these
regulations.
About Trakopolis
Trakopolis is a Software as a Service (SaaS) company with
proprietary, cloud-based solutions for real-time tracking, data
analysis and management of corporate assets such as equipment,
devices, vehicles and personnel. The Company's asset management
platform works across a variety of networks and devices. Trakopolis
has a diversified revenue stream from many verticals including oil
and gas, forestry, transportation, construction, rentals, urban
services, mining, government and others.
This news release includes certain "forward-looking
statements" under applicable Canadian securities legislation that
are not historical facts. Forward-looking statements involve risks,
uncertainties, and other factors that could cause actual results,
performance, prospects, and opportunities to differ materially from
those expressed or implied by such forward-looking statements.
Forward-looking statements in this news release include, but are
not limited to, statements regarding: the business and operations
of Trakopolis; expected sales of ELD; legislative and regulatory
changes; the integration of ELD with Trakopolis' existing business;
the market opportunity of ELD technology; ELD campaign launch; and
sales and revenue from ELD. Forward-looking statements are
necessarily based on a number of estimates and assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties and other factors which may cause actual
results and future events to differ materially from those expressed
or implied by such forward-looking statements. Such factors
include, but are not limited to: the market opportunity and
commercial success of ELD; sales of ELD to existing and new
customers; general business, economic and social uncertainties;
litigation, legislative, environmental and other judicial,
regulatory, political and competitive developments, including
legislative developments with respect to ELD; those additional
risks set out in the Trakopolis' public documents filed on SEDAR at
www.sedar.com; and other matters discussed in this news release.
Although Trakopolis believes that the assumptions and factors used
in preparing the forward-looking statements are reasonable, undue
reliance should not be placed on these statements, which only apply
as of the date of this news release, and no assurance can be given
that such events will occur in the disclosed time frames or at
all. Except where required by law, Trakopolis disclaims any
intention or obligation to update or revise any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Trakopolis IoT Corp.