SEATTLE, April 8, 2014 (GLOBE NEWSWIRE) -- GeoTraq, Inc. (OTC:GTRQ), a development stage company focused on developing next-generation wireless location technology, today announced a corporate name change from Mobile Data Corp. to GeoTraq Inc. The common stock has commenced trading under new ticker symbol "GTRQ" on the OTC Market (OTC). The CUSIP number has changed to 373677103.
Mr. Gregg Sullivan has been appointed as the Company's President, Chief Executive Officer, Chief Financial Officer, and Director of GeoTraq, Inc. Mr. Sullivan is an experienced executive and entrepreneur with more than 30 years of financial and CEO experience. His expertise focuses on turn around and start-up operations of new and existing companies. In his new role, Mr. Sullivan will focus on building a technology company positioned in the global wireless industry.
GeoTraq Inc. is currently preparing the necessary filing statements to become a fully reporting issuer with the Securities and Exchange Commission. GeoTraq currently has a total of 58,516 ,528 shares of common stock issued and outstanding, taking into account the new management team, which resulted in the issuance of an additional 25,000,000 shares of common stock. The current float is 22,392,128.
About GeoTraq, Inc.
GeoTraq Inc. is a technology provider established to manufacture and sell cellular transceiver modules and associated services specifically enabled by Cell-ID with all its inherent advantages over GPS and RFID to provide solutions for the tracking, asset recovery and location based industries. For further information please visit the Company's website at www.geotraq.com.
Forward-Looking Statement
This press release may contain 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. Investors are cautioned that such forward-looking statements involve risks and uncertainties, which include among others, the inherent uncertainties associated with development stage companies including without limitation, other risks associated with new technologies. At the time of the press release, the Company is not registered with the Securities and Exchange Commission (SEC) and does not have available for public dissemination its financial reports or other disclosure information.