Speedemissions, Inc. Eliminates Non-Performing Stores, Focuses on Return to Profitability
20 Giugno 2014 - 5:15PM
Marketwired
Speedemissions, Inc. Eliminates Non-Performing Stores, Focuses on
Return to Profitability
ATLANTA, GA--(Marketwired - Jun 20, 2014) -
Speedemissions, Inc. (OTCQB: SPMI), a leading vehicle
emissions testing and safety inspections company operating stores
in the Atlanta, St. Louis and Salt Lake City markets and developer
of CARbonga-SRI, the innovative automobile safety/recall iPhone
app, which powers the Company's BuyCARSafety.com "ADVISR"
(www.BuyCarSafety.com), today announced that it has sold its
remaining Houston, Texas emission/safety inspection
stores to ZAK's & HF Enterprises, LLC, a Texas based limited
liability corporation.
This transaction, coupled with the closing of four
non-performing stores in Atlanta and St. Louis in the past 60 days
as leases have expired, brings to thirty-three the number of stores
the Company now owns and operates.
Rich Parlontieri, President and CEO of Speedemissions, stated,
"Over the past couple of years the Texas market has been a most
challenging one for us and has contributed significantly to the
Company's operating losses. Eliminating those locations detrimental
to our cash flow, strengthening our retail stores that are
profitable, and a commitment to the development of progressive
product offerings like the ADVISR, our vehicle recall and technical
service bulletin report, are initiatives we believe can make
Speedemissions profitable once again."
ABOUT SPEEDEMISSIONS, INC.
Speedemissions, Inc., based in Atlanta, Georgia, is a national
brand offering our customers quick and efficient emission testing
and/or safety inspection as required by law. The Company is in the
Atlanta, GA. Salt Lake City, UT and St. Louis, MO. markets. The
Company has expanded its business model through its newly
introduced SpeedEmissions Car Care Stores and SpeedEmissions Car
Care franchise unit. Speedemissions hopes to be among the
first companies to offer its customers quick and efficient vehicle
emissions testing and repair services. For more information, visit:
www.speedemissions.com
ABOUT CARBONGA
Speedemissions, Inc. owns and developed the CARbonga line of
apps for smart phone users. CARbonga is among the first apps
which allows the average person to detect automotive car problems
for their own vehicle or when buying a used vehicle. The
CARbonga-SRI app provides a quick and easy way for consumers to
stay on top of the safety of their vehicle by providing the most
current safety-related recalls and service bulletins for their
vehicles. For more information, visit www.carbonga.com and for
CARbonga news updates follow @CarbongaApp on Twitter.
Like us on our Facebook pages: Speedemissions, Inc. -
https://www.facebook.com/pages/Speedemissions-Inc/522270047828743
CARbonga -
https://www.facebook.com/pages/CARbonga/167142293336305
BuyCarSafety.com - https://www.buycarsafety.com
Certain statements contained in this news release regarding
matters that are not historical facts may be forward-looking
statements. Because such forward-looking statements include risks
and uncertainties, actual results may differ materially from those
expressed in or implied by such forward-looking statements. Factors
that could cause actual results to differ materially include, but
are not limited to, uncertainties pertaining to market acceptance
for Speedemissions' products and services, its ability to succeed
in increasing revenues in the near term to attain profitable
operations and generate sufficient cash flow from operations, the
effect of new competitors in its markets, its integration of
acquired businesses, and other risk factors identified from time to
time in its filings with the Securities and Exchange Commission,
including Speedemissions' Annual Report on Form 10-K, Quarterly
Reports on Form 10-Q and current reports on Form 8-K which are
available at the SEC's website www.sec.gov. Other factors not
currently anticipated may also materially and adversely affect
Speedemissions' results of operations, financial position, and cash
flows. There can be no assurance that future results will meet
expectations. While Speedemissions believes that the
forward-looking statements in this news release are reasonable, the
reader should not place undue reliance on any forward-looking
statement. In addition, these statements speak only as of the
date made. Speedemissions does not undertake, and expressly
disclaims any obligation to update or alter any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by applicable law.
For more information: Speedemissions, Inc. Investor Relations
Email: ir@speedemissions.com
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