Ultrack Systems (OTCMKTS:MJLB) closed Monday night at $0.0628 up 7.37% in heavy trading of 1,539,839 shares, and said it is making progress on USA-Canadian simultaneous certification as well as entering the European market with the addition of the ‘Teltonika’ product line. Investors have been awaiting news on North American certification on its flagship Ultrack DriveLine. MJLB has submitted paperwork with a new government testing agency, with the new testing certifying DrivelineELD for the USA and Canada markets simultaneously.
The company said that several tests still remain, but they require a 24-hour testing cycle.
Ultrack CEO Michael Marsbergen said, “One Driveline ELD device will perform multiple protocols and change between Canadian and USA mandates automatically upon border crossing. I maintain that our device will be an industry disruptor and likely to become the new standard in fleet tracking and management. Our product simply does more while offering easy options for using different options.”
Marsbergen added that due to paperwork submitted to the new government certified testing agency, when DrivelineELD hits the market, it will be certified for use in both the USA and Canada immediately.
At the same time, MJLB unveiled plans to enter the key European fleet markets with Teltonika hardware. See more at https://teltonika-networks.com This company makes routers, modems, gateways, switches and IoT platforms. Ultrrack Systems (OTCMKTS: MJLB) is a GPS tracking company which announces plans to achieve strategic expansion within the European fleet market with the Teltonika line of products.
CEO Marsbergen said, “We are in the process of adding the complete Teltonika line of products to our fleet tracking platform which opens up a huge market in Europe.” He added that once the North American certification is in place, MJLB plans to adapt its Driveline ELD to the European market and using the Tachograph mandate in keeping a record of driver hours based on the data from the engine control module from the trucks.
The company added that “Europe holds the largest market share of digital tachographs and is projected to dominate in forecast period owning to the early adoption of advanced technology, rapid implementation of these devices in vehicles by various OEMs in this region.” MJLB’s asset value is in the wide ranging impact of its products. Commercial trucking fleets need the ‘Ultrack DriveLine ELD’ . The commercial truck fleet market enables management to track and make efficiency key and new again in the use of GPS products from MJLB — a series of sophisticated trackers that watches how driver’s perform (speeding, stopping), on-time delivery issues — right down to when the ignition is turned on/off. In meeting new ELD compliance issues, MJLB and its products are well positioned to soar in the truck tracking market.
If the stock breaks above short term resistance of .064, it could mark the start of a rally.