PTS, Inc. (OTCPK:PTSH) Announces New IT 3 Year Service Contract
PTS, Inc. (OTC.BB:PTSH) www.ptspi.com/ announced that through its ThinLine division has signed a 3-year Voice Over Internet Protocol (OTCPK: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.
Seaspan Corporation (NYSE:SSW) announced the financial results for the three and nine months ended September 30, 2010. Below is a summary of our key results.
Achieved vessel utilization of 98.7% and 98.3%, respectively, for the three and nine months ended September 30, 2010;
-- Accepted delivery of one newbuild vessel during the third quarter, the COSCO Indonesia, bringing our fleet to a total of 53 vessels at September 30, 2010;
-- Paid a second quarter dividend of $0.125 per share on August 20, 2010, reflecting a 25% increase over the dividend paid for the first quarter of 2010;
-- Declared a third quarter dividend of $0.125 per common share paid on November 12, 2010, increasing cumulative dividends declared since our IPO to $6.84 per common share.
Seaspan Corporation owns and operates the containerships that are engaged in the deep-sea container transportation business in Hong Kong.
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