PTSH Lands Proprietary Cloud Computer Software Contract
ATLANTA, GEORGIA--(Marketwire - 11/05/10) - PTS, Inc. (OTC.BB:PTSH - News) announced today after the market closed that Raj Kalra has been named Chairman and Chief Executive Officer, effective immediately. Mr. Kalra replaces Teresa Rubio who has served as Chairman and Marc Pintar who has served as PTSH Interim Chief Executive Officer. In addition to his role as CEO, Mr. Kalra will serve on PTSH's Board of Directors.
"Raj Kalra brings the right skill set to lead PTSH as we move forward and commence a focus on restructuring, stabilization, growth and profitability," said Marc Pintar, PTSH Interim CEO. "Raj's leadership skills and extensive experience in mergers and acquisitions, as well as business niches such as technology, retail, energy and financial sectors, make him the right CEO to lead PTSH down its new road to success," added Mr. Pintar.
Raj Kalra is the founder and CEO of ThinLine Technology Group, and brings over a decade of leadership, management skills and experience in the information technology industry. Prior to founding ThinLine, Mr. Kalra spent 20 years in developing and expanding start-up businesses, public corporations and turn-around.
"I'm very pleased to be named the CEO of PTSH," said Raj Kalra. "I am working very hard to bring value to our shareholders. My first order of business is to announce that PTSH, via ThinLine, has been granted a contract to develop and manage the modifications to a certain proprietary cloud computer software solution that ThinLine created based on the client's requirements for an online inventory management system for contracts that they manage for cable operators nationally." Raj Kalra continued, "This system tracks the sales process and contract maintenance between the cable operator and the property owner/investment company. It also tracks revenue sharing that is owed to the property based on right-of-entry agreements or tracking of bulk cable/internet agreements for the units of the property. This is a very meaningful contract for PTSH and shareholders will be advised of any additional developments as they unfold."
"Our Client is the leading provider of MDU services to the largest cable operators in the country, securing thousands of units every month for their clients. The details of this contract will be released shortly, upon satisfaction of all parties," concluded Raj Kalra.
The PTS, Inc. corporate website (http://www.ptspi.com) has been updated to reflect the new business in PTSH.
More updates will be furnished by the company shortly and frequently.
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Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of PTS, Inc., Inc., that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. PTS, Inc., Inc. cautions you that any forward-looking information provided by or on behalf of PTS, Inc., Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. PTS, Inc., Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond PTS, Inc., Inc.'s control. In addition to those discussed in PTS, Inc., Inc.'s press releases, public filings, and statements by PTS, Inc., Inc.'s management, including, but not limited to, PTS, Inc., Inc.'s estimate of the sufficiency of its existing capital resources, PTS, Inc., Inc.'s ability to raise additional capital to fund future operations, PTS, Inc., Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match PTS, Inc., Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. PTS, Inc., Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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