On The Go Reduces Expenses By $100,000 With Island Corporation Move to Corporate Headquarters
Posted on: Friday, 20 January 2006, 09:00 CST
CONCORD, Ontario, Jan. 20 /PRNewswire-FirstCall/ -- On The Go Technologies Group ('the Company'), a leading multi-industry computer hardware, software and peripherals VAR and systems integrator and corporate multimedia digital service solutions provider announced today that it has effectively eliminated $100,000 in overhead expense with the move of its newest acquisition, Island Corporation, into its corporate headquarter offices.
Island's move, will be complete this afternoon, is inclusive of all company operations and increases On The Go's total staff and management, from all 5 divisions, to over 70 people, an appreciation of 300+%, in terms of VAR division staff, from a year ago.
The move into On The Go's Concord, Ontario offices is not only representative of an initial savings of $100,000 in rent, utilities, insurance, and miscellaneous duplicate corporate related expense, but also provides for a greater degree of buying power for all of the VAR divisions. As the Company continues to consolidate and synergize operations in the quarters ahead, other such costing cutting measures will be implemented.
"Much like the moves to our Company headquarters of the divisional acquisitions preceding Island, we fully expect that the initial reduction of $100,000 in corporate costs is only the beginning of our expense consolidation," remarked Company CEO Stuart Turk. "I'm confident that, as with Island's solid addition to our revenues, further overhead reductions will continue to add to our bottom line."
About On The Go Technologies Group
On The Go Technologies Group is a leading, North American corporation focused on acquiring versatile and profitable companies in the IT sector. By way of its five divisions to date: Value Added Resellers Compuquest and Infinity Technologies, both catering to Fortune 1000 clientele and vendors like HP, Apple, IBM, Extreme Networks and Adobe; Helios/Oceana, a prominent systems integrator in the US and Canadian entertainment and education industries; Island Corporation, compiling sophisticated digital solutions and networks for the medical community; and Go Motion and Design, the Company's complete in-house multimedia studio, On The Go has established itself as a respected industry competitor. The Company's intention is to maintain sustained growth in the years to come via both continued development in their existing divisions and an aggressive acquisition schedule.
For more information, visit: http://www.oghc.com/ or http://www.otcfn.com/oghc
To be added to On The Go's email list for Company news, please visit: http://www.onthegohealthcare.com/new_site/inv_pkg_form.htm
This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include, but are not limited to, economic conditions affecting the B2B environment; continued ability to obtain hardware, software and peripherals at competitive costs; the Company's ability to finance its planned expansion efforts; the Company's ability to manage its planned growth; and changes in regulations affecting the Company's business and such other risks disclosed from time to time in the Company's reports filed with the Securities and Exchange Commission. The Company does not intend to update any of the forward- looking statements after the date of this document to conform these statements to actual results or to changes in management's expectations, except as required by law.
On The Go Technologies Group
CONTACT: Al Kau of On The Go Technologies Group, 1-888-795-3166,California, al@thesearchforvalue.com; or Investor Relations, Geoffrey Eiten ofOTC Financial Network, +1-781-444-6100 ext. 613, geiten@otcfn.com
Web site: http://www.oghc.com/
Source: PRNewswire-FirstCall
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