ATLANTA, GEORGIA--(Marketwire - 11/12/10) - PTS, Inc. (OTC.BB:PTSH - News) www.ptspi.com/ announced today that through its ThinLine division has signed a 3-year Voice Over Internet Protocol (VOIP) contract with MC Universal Art (www.greatamericanart.com).
MC Universal Art has been designing and installing quality framed art for over 30 years. They are a leading provider of wholesale and retail art frames, fine art prints, signed limited additions, as well as providing interior design consulting services. MC Universal Art works with leading interior designers, architects, and office furniture dealers - they help their wholesale clients achieve an environment that drives the image and identity they want to project for customers.
MC Universal Art is expanding its office and manufacturing infrastructure and required a scalable communications system that can handle their growth without effecting customer service. They also had a need to insure that their IT architecture would not be impacted with their communication upgrade.
"We were looking for a company that had VOIP expertise but also had the IT expertise to install, manage and scale our telecommunications infrastructure", said Macky Pannu CEO of MC Universal Art. "ThinLine met all of our criteria and we look forward to growing our services with them in the future," added Macky Pannu.
"I am impressed with MC Universal Art. They have a world class company and I am excited to have the opportunity to work with Macky and his team," said Raj Kalra CEO of PTS, Inc. "Our VOIP product will work perfectly to meet their existing demand, and will allow them to grow as quickly as they need so they can scale to keep up with their growth," added Raj Kalra.
In other company news:
Following several queries from the investment community, PTSH explains the relationship with ThinLine and addresses its "70% ownership". Raj Kalra, CEO of PTSH explains, "PTSH purchased my 70% ownership of ThinLine in a Share Exchange Agreement last week. In exchange of my 70% ownership I received restricted shares of PTSH stock. ThinLine has two owners, PTSH (70%) and a second party (30%). ThinLine is a subsidiary of PTSH, owning 70% therefore shall receive 70% of the profits. In respect to why the deal won't close until December 31, 2010 is due to two factors: 1) ThinLine has approx 70 days to complete SEC audits and; 2) PTSH has its year end 12/31/10, and it makes for easier accounting. For all intensive purposes it is business as usual for PTSH and ThinLine since the merger.
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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