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Prospective Funding Bolsters plans to Open Racing Limos America Franchises

^{Published on 2012-12-11 08:45:32 - Market Wire}
 

Prospective Funding Bolsters plans to Open Racing Limos America Franchises -- DOVER, N.H., Dec. 11, 2012 /PRNewswire/ --

DOVER, N.H., Dec. 11, 2012 /PRNewswire/ -- Racing Limos America, Inc., a subsidiary of Atlas Technology Group, Inc. (OTC:ATYG), is reporting prospective funding which would allow the company to plan its opening of new franchises.

"We've been working with a couple of groups over the past few months," says Atlas CEO and Racing Limos America President James Albion.  "We feel VERY good that Q1 2013 will bring us the opportunity to open between 3 and 5 company operated franchises.  In addition, the funding would allow us to offer some in-house financing to get Miami to final closing so they can get moving."

Albion says Miami has been trying to finalize their financial structure to not only complete the Miami purchase, but to have the needed capital to initiate operations.  "I decided to give the Miami group some flexibility to finish the deal," says Albion.  "They have a strong, experienced group ready to move forward.  We are all in it to not only open Miami as a major city location, but to bolster presence in the heart of the multi-billion dollar Hispanic Market."

Other prospective Racing Limos America™ locations being considered with the funding include Atlanta, Birmingham (AL), Boston, Dallas, Indianapolis, and Springfield (MA).  Montreal, if the paperwork and legal process were completed, would be the first Racing Limos Canada™ location.

"The funding process has been a long, arduous one," says Albion.  "We really feel we are in the home stretch, which means the beginning of our long-term expansion plans nationwide and into Canada."

About Racing Limos America, Inc.

Headquartered in Dover, NH Racing Limos America, Inc. is a franchise operating system of race car themed stretch limousines, focused on advertising and marketing partnerships, business-to-business relationship development, and specialty transportation.  For more information visit [ www.racinglimosamerica.com ] 

Forward-looking Statements:

This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth and business strategy. Words such as "expects," "will," "intends," "plans," "believes," "anticipates," "hopes," "estimates," and variations on such words and similar expressions are intended to identify forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. These statements involve known and unknown risks and are based upon a number of assumptions and estimates that are inherently subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, changes in the Company's business; competitive factors in the market(s) in which the Company operates; risks associated with operations outside the United States; and other factors listed from time to time in the Company's filings with the Securities and Exchange Commission. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based.

CONTACT:  Racing Limos America, Inc. Investor Relations at (603) 285-0015 or by email at [ investorrelations@rlihinc.com ]

SOURCE Atlas Technology Group, Inc.