BOCA RATON, Fla.–(BUSINESS WIRE)–Aug. 18, 2005–Power2Ship, Inc. (OTCBB:PWRI) a Logistics Web-based Collaborative Marketplace for the freight transportation industry and related Homeland Security programs, announced that it has completed the application process and become a member of the prestigious Transportation Intermediaries Association (TIA) based in Alexandria, VA. TIA is the United States representative for the International Federation of Freight Forwarders Association (FIATA) which provides certification programs, product offerings and has a presence in Washington DC.
Richard Hersh, CEO of P2S said, “That positioning Power2Ship with strong, industry-wide knowledgeable members and global companies will enhance our ability to stay well informed on transportation industry and homeland security trends, hurdles and compliance issues. We will participate in many conferences including Logistics Management Conferences, Freight Forwarders & Intermodal Conferences which give Power2Ship global exposure, participate in forums, share knowledge and link to other participating companies. This will enable Power2Ship ship to better its position on Homeland Security initiatives worldwide.
About Power2Ship, Inc.
Power2Ship (P2S) is a Web-based Collaborative Marketplace that provides supply chain, tracking and other logistics information that enables freight carriers (trucking companies), shippers (senders and receivers of freight) and their customers to make better-informed, cost-effective transportation / logistics decisions. This information assists P2S Member Shippers to optimize their supply chain and reduce their transportation, warehousing and inventory carrying costs. P2S Member Carriers receive free, unlimited use of an asset management system through the MobileMarket(TM) to track the location, destination and availability of their transportation assets. P2S has formed three new divisions in order to accelerate the market penetration of its patent-pending P2S MobileMarket(TM). An international licensing division markets the P2S MobileMarket(TM) abroad. The second division is focused on Homeland Security and Operation Safe Commerce, primarily related to development of “smart” container tracking and visibility. The third division is pursuing mergers and acquisitions and joint ventures with strategic, non-asset based, trucking companies and transportation-related providers.
This press release includes certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements include, but are not limited to, statements regarding our current business plans, strategies and objectives that involve risks and uncertainties that could cause actual results to differ materially from anticipated results. The forward-looking statements are based on our current expectations and what we believe are reasonable assumptions; however, our actual performance, results and achievements could differ materially from those expressed in, or implied by, these forward-looking statements. Factors, within and beyond our control, that could cause or contribute to such differences include, among others, the following: the loss of one or more of our major customers, our inability to negotiate a mutually acceptable profit sharing or other business arrangement required to implement our joint venture with Welley, the termination of the agreement with Welley upon ninety (90) days written notice by either party or immediately if either party is forced into or voluntarily enters into any form of bankruptcy, and our inability to obtain sufficient capital to fund our operations until we achieve consistently positive cash flow from operations; as well as those factors discussed under “Risk Factors” in our Form SB-2/A, as filed on December 15, 2004. Readers are urged to carefully review and consider the various disclosures detailed from time to time in our other reports and filings with the United States Securities and Exchange Commission.