Ultrack Systems (OTCMKTS: MJLB) reported a 227% jump in Q2 revenue, the three months ended June 30, 2021, to $162,055 vs. $49,415 the comparable period the prior year. The filing with the OTC of unaudited financials also showed a net gain the the three months of $16,550 compared to a net loss of $152,254. The primary difference in the period was a reduction in officer compensation to $9,222 compared to $151,500 last year — a $142,278 decline.
MJLB is ready to receive its certification in Canada and USA for its DrivelineELD product. It is also planning to enter the European trucking fleet market. Ultrrack Systems (OTCMKTS: MJLB) is a GPS tracking company which has announced plans to achieve strategic expansion within the European fleet market with the Teltonika line of products.
MJLB stock closed yesterday at $0.0637, down 4.93% in light volume of 225,603.
The only new expense item listed of importance in Q2 2021 vs. last year was $51,391 for consulting.
In a series of tweets, MJLB has unveiled a new corporate vision website and has tweeted regarding completing in-house testing this week and said it has fixed any major/medium/minor bugs in its product. “We have also been adding a 2-way messaging system from the backend server to vehicle. Just added another benefit for our clients.” Prior, it made news when it announced it would begin shipments this week its upgraded solar-powered Dry Van Tracker. It will have a 4/5G/LTE improved solar panel and housing plus improved battery capacity. In a corporate tweet, MJLB said it was planning for initial shipments of the product to begin in early August.
MJLB 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.
MJLB announced it is entering the key European fleet market. MJLB unveiled plans to enter the European fleet markets with Teltonika hardware. See more at https://teltonika-networks.com This company makes routers, modems, gateways, switches and IoT platforms.
Ultrack CEO Michael 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 Company’s 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.
Marsbergen added, “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.”