HENDERSON, NV / ACCESSWIRE / May 2, 2016 / On the Move Systems (OMVS) has inked a letter of intent (LOI) with a potential joint venture partner in the greater Houston metropolitan area. The LOI with Critical Logistics, Inc., provides OMVS with an additional beta testing outlet for its upcoming shared economy trucking platform as well as gives it a potential new revenue stream should OMVS desire to later acquire its new partner.
Critical Logistics operates a small, versatile trucking business with nationwide reach that OMVS believes would provide a wide-ranging test of the revolutionary "Uber-for-Trucking" platform's robust capabilities. This LOI comes just days after OMVS agreed to a similar one with Tier 1 Transport and Logistics, also based in the greater Houston area.
"Our potential new trucking partner brings a lot of value to the table," said OMVS CEO Robert Wilson. "The synergies between all the firms are strong and we mesh well together as far as capabilities. We expect to have a great working relationship with each of our partners going forward and that both will someday provide positive results for OMVS. We're gathering a great deal of momentum now and the road ahead looks clear and promising for us and our shared economy platform."
When ready, OMVS will be testing its platform at an opportune time. The trucking industry continues to enjoy a smooth ride. The American Trucking Associations' (ATA) U.S. Freight Transportation Forecast projects annual freight volumes will jump nearly 29 percent by 2026. Other recent studies forecast a coming shipping capacity shortage that could spell opportunity for new entrants.
OMVS's proposed new trucking firm would allow the company to compete alongside Con-way Freight (CNW), SAIA Inc. (SAIA) and Old Dominion Freight Lines (ODFL).
For more information on OMVS, please visit www.onthemovesystems.com.
About On the Move Systems, Inc.
On the Move Systems, Inc. (OMVS) is focused on the development of cutting-edge technology across a broad spectrum of industries. The company is currently exploring new online tools to reduce costs and increase convenience in the tourism and travel industry and exploring new opportunities in trucking. For more information, please visit our website at www.onthemovesystems.com.
Notice Regarding Forward-Looking Statements
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipates" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.
Contact:
On the Move Systems, Inc.
Robert Wilson, 702-990-3271
President and CEO
SOURCE: On the Move Systems, Inc.