Location Based Technologies Begins Sales in Ecuador and Receives First Purchase Order
IRVINE, Calif.--(BUSINESS WIRE)-- Location Based Technologies, Inc. (OTCBB:LBAS), a leading service provider for the world's best GPS tracking devices, announced that it will begin sales of its products in Ecuador. Parsis Cia Ltda., has contracted to be LBT's reseller in Ecuador and has paid for its initial order of PocketFinder personal locators and vehicle products.
Parsis conducted several feasibility studies in 2012 and determined that there was a significant market in Ecuador for LBT's vehicle, personal and pet devices. Additionally, the studies concluded that there was also a significant market for an international fleet/freight tracking solution like the 886. Parsis believes the 886 could particularly gain traction with companies that export cut flowers, which is one of Ecuador's largest export industries.
"We now have the capability to sell our products and services into several countries in South America, and we are excited to launch our products in Ecuador with a quality company like Parsis," said Dave Morse, CEO of Location Based Technologies. "Our ability to now integrate foreign SIM's into our products supports our growth strategy and allows us to meet existing demand in other parts of the world."
Mr. Jose Cervantes, Chief Executive Director of Parsis, explained that, "In Ecuador, like other countries of South America, security is highly required. LBT's technology is the most competent on the existing market, surpassing others in technological infrastructure, accessibility to the monitoring system from mobile platforms and with the most intuitive interface for users. Parsis is pleased to provide LBT's products in Ecuador, offering GPS satellite monitoring alternatives at the highest technological level and with high quality service to our users."
About Location Based Technologies, Inc.
A publicly traded company, Location Based Technologies (OTCBB: LBAS) designs and builds dedicated GPS products and services that are affordable and easy to use. The Company's consumer products are sold under the PocketFinder brand, and its commercial products are sold under the LBT brand. For more information, visit: www.pocketfinder.com or www.locationbasedtech.com.
PocketFinder and Location Based Technologies, Inc. are trademarks of Location Based Technologies, Inc. registered in the U.S. and other countries.
About Parsis Cia Ltda.
Parsis Cia Ltda is a legally constituted company located in Quito, Ecuador and is regulated to sell product throughout the country. Parsis provides satellite based security services for consumer and commercial applications including import and export services and government agencies. Parsis has been pre-selling LBT's products under the PocketFinder brand in preparation for their upcoming launch.
This news release contains forward-looking statements that involve risks and uncertainties.Actual results and outcomes may differ materially from those discussed or anticipated.For a more detailed discussion of these and associated risks, see the company's most recent document filed with the Securities and Exchange Commission.
Location Based Technologies, Inc.
Gregory Harrison, 888-600-1044 ext. 9
KEYWORDS: United States North America South America California Ecuador
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