LONGUEUIL, Quebec, Dec. 6 /Xinhua-PRNewswire/ --
Effective Control Transport Inc. (Pink Sheets: EFFC) (www.econtroltransport.com) announced today the formal name and symbol change of the company. The company will now trade under the symbol EFFC "This is a huge step forward in our strategy to become fully reporting and uplisting to a higher exchange" stated Raphael Huppe, CEO.
Our Product
The FOLO CRAM (Cognitive Resources Availability Manager) offers effective real time monitoring of a driver's state of awareness, including fatigue. Thus, offering drivers and fleet managers capabilities of ensuring timely preventive actions which in turn will prevent accidents and save lives. ECT specializes in high security monitoring, tracking and telemetry systems, and provides fully integrated fleet management solutions for the transportation industry. The research department work right now on the second version of FOLO CRAM which will include the detection of drug and alcohol. This version will be available in April 2008.
The Market
It is estimated today that the number of vehicles in operation around the world is close to 1 billion. Approximately 1 in 4 is not a passenger vehicle, therefore is mainly used for commercial freight or public transportation.
Data from the National Highway Traffic Safety Administration (NHTSA) reveal that driver drowsiness or fatigue have accounted for 56,000 crashes every year. About 40,000 injuries and 1,550 deaths are attributed to these crashes.
"We believe there will be a huge number of accidents prevented and lives saved once there is widespread deployment of our revolutionary product, the FOLO CRAM," said Raphael Huppe.
Government Involvement
ECT has met with and presented to Transport Canada as well as Societe d'Assurance Automobile du Quebec (SAAQ). We have also met with the US Department of Transportation (DOT) who has shown a high interest in our FOLO CRAM technology. These government bodies have been working in the direction of finding tools and methods to improve road security and spend billions of dollars yearly to address and improve security issues on the roads. These initiatives have helped save thousands of lives every year, and it is our intention to actively support them in their mission to saves lives.
Insurance Companies
We are currently collaborating with several insurance companies to mandate our technology and are now entering the demonstration and validation stage.
ECT is an information technology firm that has developed fully integrated solutions for trucking and fleet management along with the highest level of technical expertise which enables it to service a wide range of customers, providing tailored solutions.
All statements in this news release that are other than statements of historical facts are forward-looking statements, which contain our current expectations about our future results. Forward-looking statements involve numerous risks and uncertainties. We have attempted to identify any forward-looking statements by using words such as "anticipates," "believes," "could," "expects," "intends," "may," "should" and other similar expressions. Although we believe that the expectations reflected in all of our forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct.
A number of factors may affect our future results and may cause those results to differ materially from those indicated in any forward-looking statements made by us or on our behalf. Such factors include our limited operating history; our need for significant capital to finance internal growth as well as strategic acquisitions; our ability to attract and retain key employees and strategic partners; our ability to achieve and maintain profitability; fluctuations in the trading price and volume of our stock; competition from other providers of similar products and services; and other unanticipated future events and conditions.
