Location Based Technologies Receives First Commercial Order for PocketFinder Devices from U.K. Company
IRVINE, Calif.--(BUSINESS WIRE)-- Location Based Technologies, Inc. (OTCBB:LBAS) has received payment for an initial order for 600 PocketFinder devices from U.K. based, TeeCake Location Services, Ltd. EE has been involved in structuring this transaction because the devices will operate on the EE wireless network. This order represents the first collaborative effort between EE and Location Based Technologies to sell Location Based Technologies' products to the commercial market in the U.K. If the rental program grows as expected, TeeCake will place additional orders before the end of the year.
TeeCake's progressive business model includes renting PocketFinder devices to schools, European ski and travel groups, and other organizations to enhance their ability to coordinate and locate those participating in group activities.
"This is a very significant milestone in our product launch in the U.K. and an excellent application of our tracking solution." said LBT's CEO, Dave Morse. "I believe the PocketFinder-for-rent model will do very well internationally and nationally. We are extremely excited about working with EE and TeeCake."
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.
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, General Counsel
888-600-1044 ext. 9
KEYWORDS: United Kingdom United States Europe North America California
The article Location Based Technologies Receives First Commercial Order for PocketFinder Devices from U.K. Company originally appeared on Fool.com.
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