CULVER CITY, CA--(Marketwired - Oct 6, 2016) - Cataca Resources, Inc. ("Cataca Resources" or the "Company") (OTC PINK: CATQ) is pleased to provide additional information regarding the current business model of FlitWays Technology, Inc. ("FlitWays"), a Los Angeles-based ground travel booking and scheduling company. Cataca Resources has entered into a definitive agreement to acquire 100% of FlitWays in an all-stock transaction.
FlitWays Technology's business model is focused to offer corporations and travel suppliers a seamless pre-booked ground transportation service that meets their unique travel and service needs. To achieve this, FlitWays has already internally established direct contracts with over 15,000 local licensed and certified drivers in over 175 cities and 400 airports.
The FlitWays network empowers several Fortune 100 corporations and travel suppliers with reliable, safe, and affordable ground transportation service, including American Express, Amazon, Samsung, Rolls-Royce, Xerox, TUI Group, and many more. In addition, FlitWays has simplified the process of booking ground travel by building direct API integrations with major travel suppliers (e.g. Booking.com, Kayak) to offer seamless ground travel booking to their travelers. FlitWays currently has 20+ Active Revenue Agreements with corporate accounts and travel resellers, and additional Beta Test Agreements in place with several Fortune 100 companies.
Tobi Mac Aro, president of Cataca Resources and CEO/founder of FlitWays, commented, "FlitWays was built with corporate travel needs in mind and is now the ideal platform to schedule and manage their global ground transportation services. We know that businesses and travel providers can accomplish more on FlitWays than compared to what can be achieved on Uber or Lyft."
The Company is also pleased to announce that the required audit of FlitWays has been completed, including unaudited statements for the most recent quarterly periods ending March 31, 2016, and June 30, 2016. As a result, the Company anticipates completing the acquisition of FlitWays within 10 days.
Aro concluded, "Structuring FlitWays as a publicly traded company is a key component of our plan to grow and expand the company into new markets and internationally. With the audit and financial statements now completed, we look forward to closing the transaction very quickly and launching the next phases of our expansion strategy."
For additional information regarding FlitWays Technology, Inc., visit www.FlitWays.com.
Additional information regarding Cataca Resources and the proposed FlitWays Technology, Inc. acquisition can be found in the Company's most recent filings with SEC at www.sec.gov and further Company press releases.
Cautionary Statement Regarding Forward-Looking Information
This press release may contain certain "forward-looking statements" relating to the business of Cataca Resources. All statements, other than statements of historical fact included herein are "forward-looking statements," including, but not limited to; the proposed acquisition of FlitWays Technology; and proposed corporate name change; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.