Key Developments: Location Based Technologies Inc (LBAS.OB)
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23 May 2013
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Latest Key Developments (Source: Significant Developments)
Location Based Technologies Inc Receives Second Order from Ecuador
Location Based Technologies Inc announced that it has received payment for a second order of PocketFinder devices from Parsis Cia Ltda. A third order from Parsis is currently in process and LBT anticipates receiving a fourth order within the next 90 days. Parsis has indicated they intend to purchase a total of 800 units before June, 2013 and they believe the market opportunity in Ecuador for PocketFinder and LBT products will continue to grow significantly. Full Article
Location Based Technologies, Inc. Appoints Chief Financial Officer-US Fed News
US Fed News reported that on March 20, 2012 Location Based Technologies, Inc. announced that it has appointed Kenneth Eric Fronk as the Company's Chief Financial Officer (CFO). Full Article
Location Based Technologies, Inc. Receives $1.2 Million Purchase Order From Grupo Paramuen SA de C.V
Location Based Technologies, Inc. announced that it has received a $1.2 million purchase order from Grupo Paramuen SA de C.V, a GPS solutions provider for the B2B mobile electronics market in Mexico. LBT will ship both the PocketFinder Personal and Vehicle units to Grupo Paramuen before year end. The order will generate $1,200,000 of revenue for Location Based Technologies. Full Article
Location Based Technologies, Inc. Closes $10 Million Private Placement of Common Stock
Location Based Technologies, Inc. announced it has closed a private placement of 50,000,000 shares of its common stock. The securities were sold to institutional and accredited investors at a price of $0.20 per share. Craig-Hallum Capital Group LLC and Think Equity LLC acted as placement agents for this transaction. The net proceeds to the Company from the sale of these shares, after deducting the placement agent fees and estimated offering expenses, are estimated to be approximately $8,998,500.00. Full Article
Location Based Technologies, Inc. Begins Fulfilling Purchase Order For $1.2 Million With Trucking Service Provider
Location Based Technologies, Inc. announced that it has received and is prepared to fulfill a purchase order for LoadRackTracker with our freight monitoring devices. The order is valued at approximately $1.2 million. LoadRackTracker device delivery will begin in July 2011. Full Article
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