SOURCE: myFreightWorld Technologies Inc.

myFreightWorld Technologies Inc.

April 29, 2011 09:00 ET

myFreightWorld Inc. CEO Issues Letter to Shareholders

OVERLAND PARK, KS--(Marketwire - Apr 29, 2011) - myFreightWorld Technologies Inc. (PINKSHEETS: MYFT) announced today that it has issued a letter to shareholders from its CEO J. Michael Head.

To our Shareholders:

We were pleased to announce that field work on our financial audit has begun in earnest. This is just one of the many exciting things that are happening at myFreightWorld Technologies Inc. Our Services Group's managed revenues are up 111% in the first quarter of 2011 over 2010. The second quarter began with the start-up of our newest large customer, one of the premier transportation providers in North America and the world, Schneider National. Our Reseller Group has expanded its sourcing options, allowing us to provide more competitive pricing to our customers. We reorganized our operations and cut our overhead dramatically. We improved our balance sheet by converting debt to equity and through the continuation of our financing strategy.

Signs that the economy is heating up always manifest themselves first in the transportation sector. The velocity of change in this sector continues to provide our economy with productivity gains, which partially mitigate the adverse effect that more expensive diesel fuel has on transportation costs. The importance of squeezing more productivity out of the movement of goods around North America is heightened greatly in an economy that is improving, yet carrier capacity is insufficient to meet its demands. These types of imbalances usually correct themselves quickly, but the impact of less capital being available, higher fuel costs, and a shortage in the supply of drivers that the insurance companies will approve (must have experience) makes the length of this situation much more problematic.

We believe that the efficient exchange, interpretation, and digestion of information will drive these productivity gains. While I believe that the transportation industry, like many service "commodity" industries, is a relationship-driven marketplace where trust, confidence, knowledge, and flawless execution reign supreme, the information that is exchanged in these relationships will be much more voluminous and will be communicated through the most efficient means available. We are confident that we have a winning combination of industry-domain knowledge and technological vision direction. We believe that our positive momentum will continue. Thank you for your support.

Sincerely,

J. Michael Head
Chief Executive Officer
myFreightWorld Technologies Inc.

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 parties of shipments during the entire Shipment Life Cycle. For more information, see www.myfreightworld.com.

myFreightWorld's vision is to realize shareholder value and wealth through monetization of its projects and potential discoveries through partnerships with significant players 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 result of new information, future events, or otherwise. Statements are subject to risks and uncertainties that may cause actual results 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

  • Contact:
    Investor Relations Contact:
    Equiti-trend Advisors, LLC
    (800) 953-3350