TORONTO, ONTARIO -- (Marketwire) -- 01/21/13 -- AirIQ Inc. (TSX VENTURE: IQ) is pleased to announce that a large rental car customer located in Texas achieved a 145% return on investment in just one year after implementing AirIQ's solution in their fleet. In the previous year the customer reported losing a total of six vehicles and wrote off more than $100 thousand dollars in losses. The President of the rental car company said, "Since implementing AirIQ's Plug and Track device in our fleet, we have gone an entire year without losing a vehicle. Now that we have installed AirIQ's device in our vehicles, we are able to easily manage and monitor our fleet and quickly identify any issues or problems with a rental. We can then take immediate action and avoid costly losses or damage to our assets."
The customer primarily utilizes AirIQ's Plug & Track device, which allows easy install and makes transfers of the unit from one vehicle to another simple and fast. With AirIQ you can receive real time location notification when:
-- Your vehicle is overdue-- Your vehicle has crossed a border or travelled outside of a specified boundary-- Vehicle maintenance is due or to view your vehicle's odometer-- Your vehicle has been stationary for over a set period of time
Don Gibbs, President and Chief Executive Officer of AirIQ states, "This is just one way, in one market segment, that shows how implementing AirIQ's solution can save the customer both time and money on their valuable mobile assets."
AirIQ currently trades on the TSX Venture Exchange under the symbol IQ. AirIQ's office is located in Pickering, Ontario, Canada. The Company offers a suite of asset management services that generate recurring revenues from each device deployed. AirIQ delivers services to two primary markets: Commercial Fleets and dealers that service Consumer segments. AirIQ provides vehicle owners with the ability to monitor, manage and protect their mobile assets. Services include: instant vehicle locating, boundary notification, automated inventory reports, maintenance reminders, security alerts and vehicle disabling and unauthorized movement alerts. For additional information on AirIQ or its products and services, please visit the Company's website at www.airiq.com.
This news release contains forward-looking information based on management's best estimates and the current operating environment. These forward-looking statements are related to, but not limited to, AirIQ's operations, anticipated financial performance, business prospects and strategies. Forward-looking information typically contains statements with words such as "hope", "goal", "anticipate", "believe", "expect", "plan" or similar words suggesting future outcomes. These statements are based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including AirIQ's perception of historical trends, current conditions and expected future developments as well as other factors management believes are appropriate in the circumstances. Such forward-looking statements are as of the date which such statement is made and are subject to a number of known and unknown risks, uncertainties and other factors, which could cause actual results or events to differ materially from future results expressed, anticipated or implied by such forward-looking statements. Such factors include, but are not limited to, changes in market and competition, technological and competitive developments and potential downturns in economic conditions generally. Therefore, actual outcomes may differ materially from those expressed in such forward-looking statements. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Other than as may be required by law, AirIQ disclaims any intention or obligation to update or revise any such forward-looking statements, whether as a result of such information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
President and Chief Executive Officer
(905) 831-6444, Ext. 4255