SOURCE: myFreightWorld Technologies Inc.

myFreightWorld Technologies Inc.

May 18, 2011 09:15 ET

myFreightWorld Expects $25 Million in Total Gross Revenues as a Consequence of Recent Joint Venture Agreement

OVERLAND PARK, KS--(Marketwire - May 18, 2011) - myFreightWorld Technologies, Inc. (PINKSHEETS: MYFT), a worldwide provider of freight services and logistics, today clarifies its expected forward 12 month revenues from the recent joint venture agreement with California-based Freight Management Inc. (FMI) and its current operating contracts.

The gross effect from the signing of the agreement with FMI, coupled with myFreightWorld's current client base, similarly increases current annualized managed revenue to $268 million. MYFT expects over $25 million in gross revenues to be added over the next 12 months as a consequence of this strategic venture. The company is currently profitable and seeking additional strategic targets to close by year-end.

J. Michael Head, CEO of MYFT, stated, "The agreement with FMI will allow MYFT to improve its position in the retail LTL market and will be a significant value add for several future vertical integration targets. Our focus is not to be a small participant, but a global influence in the worldwide logistics markets. Our 'Roll Up' strategy will be executed as a separate retail operation and will be independent of our IT and services activity in order to maintain integrity in our mission to serve the 3PL market only. We have talked to several target roll up companies that have expressed an interest as soon as we are in a position to regenerate our strategy."

About myFreightWorld Technologies, Inc.

myFreightWorld Technologies Inc. is a business services firm that specializes in providing technology, transportation and supply chain management services to third-party logistics managers (3PLs) and transportation intermediaries (TIs), primarily in the United States. Leveraging its proprietary Web-based software platform, the Company provides its 3PL and Motor Carrier customers with a Customer Relationship Management (CRM) information pipeline that provides complete visibility to shippers, consignees and other interested suppliers of shipments during the entire Shipment Life Cycle. For more information, see www.myfreightworld.com.

myFreightWorld's mission is to realize shareholder value and wealth through monetization of its projects and potential discoveries through partnerships with significant participants with ready capital and production expertise. The matters set forth in this press release may contain forward-looking statements regarding myFreightWorld and its business within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date on which they are made and myFreightWorld undertakes no obligation to publicly update or revise any forward-looking statement, whether as a consequence of new information, future events, or otherwise. Statements are subject to risks and uncertainties that may cause actual outcomes to differ materially. These risks are detailed from time to time in the company's periodic reports filed with the OTC Pinksheets including the company's Annual Report, Quarterly Reports and other periodic filings.

Contact Information

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