McapMediaWire --Ultrack Systems Inc. (OTC: MJLB), a total fleet-management GPS tracking and monitoring solution provider, is pleased to announce that Ultrack has entered into a formal contractual agreement with Supreme Products to both acquire and market their "Pet Tracker" product which is a wearable GPS device for pets. Notably, Carl Lamonte from Supreme Products will join Ultrack as an Officer of Brand Development Officer
Earlier this year Ultrack noted in a release that the Company is actively seeking joint-venture relationships and/or acquisitions within recession proof sectors. Today's announcement is the initial fulfillment of that goal with more planned to come. With years of experience, resources, and relationships within the GPS industry, it makes sense for Ultrack to expand to the developing vertical market of pet tracking hardware and software.
Currently, the global pet market is worth roughly $261 billion with the sub "pet care" market coming in at around $79 billion as of 2021. Current forecasters project that the U.S. pet market alone is projected to grow to $325 billion by 2028 with a projected sustained growth of pet ownership up to 14% by 2030. (Source: https://www.hepper.com/pet-industry-statistics-us/)
Ultrack CEO Michael Marsbergen commented: “Pets are big business and Millennials and Gen Z are leading the way for the foreseeable future. We believe that pet ownership and pet care is a recession-proof industry because people are simply not going to give up the things that they truly love, no matter how hard the economy gets hit. I'm delighted that Mr. Carl Lamonte will be joining Ultrack and helping the Company to establish sure footing as a new face and voice for our “Pet Tracker” product."
Some of the ways the Company intends to provide a superior device include potential features like:
1. Health monitoring: Monitor a pet's health by tracking their activity levels, heart rate, and other biometric data. This information could be shared with veterinarians or pet owners to identify potential health problems early on.
2. Behavior modification: Modify a pet's behavior by providing real-time feedback on their location and activity level. For example, a device could be set up to alert a pet owner if their dog has strayed too far from home, or if their cat is spending too much time in a certain area.
3. Predictive analytics: Collect data on a pet's behavior and use machine learning algorithms to predict future behavior. This could help pet owners anticipate potential problems and take preventive action.
4. Social media integration: Integration with social media platforms, allowing pet owners to share their pet's location and activity level with friends and family. This could create a community of pet owners who share information and support each other.
5. Virtual fences: Create virtual fences around a pet's home or yard, alerting the pet owner if their pet strays beyond a certain boundary. This could be especially useful for pet owners who live in areas with high levels of traffic or other hazards.
Ultrack and Supreme Products are planning a full-orbed marketing plan through multiple strategies including:
As technology and AI evolves, the Company will seek for new ways to add more benefits to its line of pet care products. Investors can anticipate updates moving forward regarding details of the development and deployment of the new "Pet Tracker" product.
Furthermore, the details of the contract with Supreme Products involves a marketing partnership to bring appropriate exposure to the new Pet Tracker product. These initiatives include but are not limited to:
1. Social media advertising: Social media platforms such as Facebook and Instagram offer targeted advertising options that allow businesses to reach pet owners directly, especially young pet owners.
2. Influencer marketing: Partnering with influencers in the pet industry can be an effective way to reach a wider audience.
3. Pet store partnerships: Starting with pet stores in Canada and established relationship, the Company believes this strategy will be well-received and well-rewarded.
4. Trade shows and events: The Company is looking ahead to three of the largest North American pet-focused trade shows in which to have a meaningful presence.
The Company invites current and future shareholders to check back regularly at our website http://ultrack.ca, Facebook page: https://www.facebook.com/UltrackSolutions and Twitter page: https://twitter.com/ultracki
About MJLB: Located in Concord, Ontario, Ultrack Systems Inc., (www.ultrack.ca) is a publicly traded company listed on the OTCMARKETS under the MJLB trading symbol. Ultrack Systems Inc., is a provider of GPS tracking solutions. We develop, implement, and distribute electronic monitoring and tracking systems for companies in leasing, transportation, construction, disposal, and many other services driven industries. Our platform includes live tracking, reports, and alerts on a web-based platform. Our mission is to provide the best fleet tracking, reporting systems and our commitment to service. The Company plans to launch a new ELD product in 2023 in partnership with major corporations that will take the trucking industry by storm.
Safe Harbor Statement: This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.
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