On4 Communications, Inc. Announces Major Insurance Compliance Milestone Reached in Bringing Distracted Driving Apps to Market
LOS ANGELES, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- On4 Communications, Inc. (OTC: ONCI) is very pleased to announce that a major insurance compliance milestone has been reached on the developmental pathway to bringing its new telematic distracted driving apps, “bSafeMobile” and “FleetSafer”, to market.
CEO Steve Berman explained, “With the recent arrival of our new beacons from our technology partners in Asia we have updated our proprietary software to fully comply with the revised requests of our insurance providers. These requests have caused a bottleneck which has slowed bringing our apps to the insurance market, but it has now been overcome.”
“Implementing these updates assures that our apps now meet the insurance companies’ most current and stringent guidelines. The items of concern were a more fine-tuned control of actions like speeding hard braking, hard acceleration, and hard turning. Finalizing these adjustments means we not only exceed the insurance providers’ standards, but we position ourselves far ahead of our competitors in terms of safety, compliance, and overall performance. On4 Communications simply has the most effective product in this sector to meet the needs of individual drivers, auto rental companies and other fleet sized clients. The ultimate benefit offered by our technology, of course, is the protection of the safety and lives of drivers from distracted driving mishaps, but our clients are also quick to see the benefits from a ‘bottom line’ perspective. Auto collisions on average cost insurance companies $2600 per incident each way. Avoiding such fender benders will save our clients millions of dollars annually.”
Berman concluded, “Furthermore, I’m gratified to share that the latest financials for On4 Communications are expected to be released on or around the 15th of June. Our shareholders will be thrilled to learn that we have posted another record breaking quarter. This and many other exciting developments will be unveiled in the upcoming weeks and months. We are diligently working to bring the ‘bSafeMobile’ and ‘FleetSafer’ apps to the insurance market in a timely fashion and to maximize shareholder value across our various ventures.”
On4 Communications will be meeting with insurance providers and rental car companies (both individual and fleet) in the upcoming weeks for talks to confirm the apps’ compliance functionality and to showcase market ready status.
About On4 Communications, Inc.
The Company seeks to acquire and/or merge with businesses that present new opportunities and innovative business plans, especially with respect to new technologies. The Company owns a 49% equity/ownership stake in Family Mobil Safety Marketing, the distributor of a safe driving App and a 49% equity/ownership stake in Digital Media Management & Consulting, a joint venture which implements electronic sell-through and content advertising supported networks. In addition, the Company is acquiring CogoSense Technology, Inc with its FleetSafer bSafeMobile and bFoundMobile Apps and is committed to acquire 75% of Sifthouse BC, a Canadian producer of craft Cannabis products.
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Cautionary Statement Regarding Forward-Looking Statements: Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the Company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.
CONTACT INFORMATION:
On4 Communications, Inc.
(323) 487-0389
