This week Ultrack Systems (OTCMKTS: MJLB) may be primed for a break out. The company reported last week 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. And two major news items broke: MJLB said it 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.
The filing with the OTC of unaudited financials showed commitment of management to Company performance. MJLB had a net gain in Q2, the three months ending June 30, 2021, of $16,550 compared to a net loss of $152,254. A reduction in officer compensation to $9,222 compared to $151,500 last year made a lot of the difference, and sets the stage for a big stock move this week.
MJLB reported Improved Q2 financial performance, anticipated certification for its Driveline ELD product and announced a major new move into the European trucking market. The stock closed at $0.0597 Friday in heavy volume of 1,260,717 and appears ready to break $0.06.
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 Friday at $0.0597 in heavy volume of 1,260,717.
MJLB has offered shareholders and investors insight into its strategy regarding completing in-house testing 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 soon of its upgraded solar-powered Dry Van Tracker. It will have a 4/5G/LTE improved solar panel and housing plus improved battery capacity. MJLB said it was planning for initial shipments of the product to begin in mid-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.”
In a corporate Tweet, MJLB last week described its new DrivelineELD brochure, which it reports is already off to the printers. Late last week, MJLB described how security is key to MJLB’s new product — the company says it uses the Windows 10 Enterprise Edition to store data, ensure seamless and secure interactions and best-in-class inspection reports.
The product offers precise Fleet Management, incorporating reporting and tracking. It writes that this product offers clients a secure product that, unlike Android-based systems, cannot be scrutinized by others for routes, client locations and other data.
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.”