SOURCE: myFreightWorld Technologies Inc.

myFreightWorld Technologies Inc.

December 29, 2010 08:30 ET

myFreightWorld Technologies' Managed Revenue Is Currently on a Run Rate of $60 Million Annually Going Into 2011

OVERLAND PARK, KS--(Marketwire - December 29, 2010) - myFreightWorld Technologies Inc. (PINKSHEETS: MYFT) (www.myfreightworld.com) today announced that its managed revenue run rate going into 2011 is approximately $60 Million. Managed revenues are calculated by the amount of customer shipments multiplied by the number of loads processed using myFreightWorld's software. Based on processing 1,000 loads per day at an average of $245 per load with 255 working days in a year, myFreightWorld's managed revenue run rate is in excess of $60 Million.

CEO of myFreightWorld Technologies Inc., J. Michael Head, said, "While managed revenues do not show up on the top-line of our income statement, they are one of the best measures of growth in our business. In 2010, myFreightWorld continued to expand our shipment volume and broaden our customer base. Our growth in managed revenues is attributed to an increase in our non-contracted business, which also enhances our profitability compared to contracted revenue." Contractual revenue is defined by collecting revenues from the end user (customer) and then paying carriers under contract. Non-contractual revenue is defined by providing software and services to MYFT customers for a fee and without a contract, whereby the customer pays the carrier.

Mr. Head continued, "myFreightWorld now provides transportation solutions to over 100 private labels and serves 8 of the top 50 largest and most well-respected 3PLs (third-party logistics managers) in North America. The 3PL market has tremendous potential for future growth, both organically and through acquisitions of smaller 3PLs. We plan to exploit these new opportunities by leveraging our Customer Relationship Management Web-based platform to generate even higher managed revenues in 2011."

About myFreightWorld

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.

Notice on Forward-Looking Statements

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:
    J. Michael Head
    CEO
    myFreightWorld Technologies Inc.
    Tel: 877-549-9438
    Email Contact