Message #3 From:
Stock News Bot Date: March 9, 2005 09:32:20 AM
PUPS Pickups Plus Raises Additional Capital for Expansion
Pickups Plus Raises Additional Capital for Expansion
CINCINNATI
Pickups Plus, Inc.
Sean Hayes, 860-633-0377
shayes@Pickupsplus.com
Pickups Plus, Inc. (OTCBB:PUPS), a retailer and national franchiser in the light truck and SUV after market accessory industry and wholly owned Auto Preservation, Inc. (AP) a single source provider to automotive dealerships for their new vehicle preparation, environmental protection packages, detailing and reconditioning products and services; today announced it received $250,000 through a private placement of its common stock to NeoMedia Technologies, Inc. (OTCBB:NEOM).
The company issued 8,333,333 restricted shares of its common stock to NEOM, which is a developer and international marketer of software and patented technologies including PaperClick (www.PaperClick.com) in addition, NeoMedia's Micro Paint Repair business unit specializes in products and services for the worldwide micro paint repair industry, including a system and processes utilizing proprietary technology.
"We saw a lot of synergies and marketing opportunities between the two companies," said Merritt Jesson, President and Chief Executive Officer of Pickups Plus. He continued, "We both are targeting the same customer, have similar local go-to-market strategies, and are both launching national expansion programs. We view this stock sale as just the first of many possible relationships between the two companies."
"We have done test marketing on the micro paint repair service to our current customer base and have gotten an overwhelmingly positive response," said Mr. Hayes, Chief Operating Officer of Pickups Plus. He continued, "The Automotive dealerships love the idea of a single provider being able to offer them new vehicle prep services, environmental protection products, Pickup truck & SUV Accessories and now Micro Paint repair services."
Pick-Ups Plus, Inc. is a retail operator and franchiser of retail automotive parts and accessories stores catering to the light truck market. There are currently five franchised locations in operation and two Company owned-stores. In addition, through its Automotive Preservation Division the Company now offers automotive dealerships new vehicle preparation, environmental protection packages, detailing and reconditioning products and services. The Company intends to attempt to expand by opening additional company-owned stores, ValuGard Processing Centers, Distributorships and franchise. For more information about the Company go to www.pickupsplus.com and look for updates in the Chairman's Letter.
NeoMedia Technologies, Inc. (www.neom.com), is a developer and international marketer of software and patented technologies, including PaperClick (www.PaperClick.com), PaperClick for Camera Cell Phones(TM) and the PaperClick Mobile Go-Window, which link products, print, and physical objects directly to targeted online data. NeoMedia also offers expertise in homeland security and e-authentication applications, and its Systems Integration Group specializes in providing expert-based IT consulting, hardware, and software solutions. NeoMedia's Micro Paint Repair business unit specializes in products and services for the worldwide micro paint repair industry, including a system and processes utilizing proprietary technology.
Safe Harbor Statement: Except for historical information contained herein, the statements made in this press release are forward-looking and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, Section 21E of the Securities Act of 1934 and the Private Securities Litigation Act of 1995. Forward-looking statements involve known risk and uncertainties, which may cause the Company's actual results in the future to differ materially from forecasted results.
