PUDO Update to Shareholders
PUDO Update to Shareholders |
[31-March-2020] |
PUDO update to shareholders highlights growth and clarifies opportunity TORONTO, March 31, 2020 /CNW/ - PUDO Inc. ("PUDO" or "the Company") (CSE: PDO; OTCQB: PDPTF), CEO Frank Coccia is pleased to issue the following update ("the Update") to shareholders. The Update highlights parcel volume growth of 66% to 443% in key areas during February, typically the slowest month of the year, and summarizes the essential business of the Company in the context of the global pandemic. The full text of the Update follows: Dear Shareholders: It is my sincere hope that wherever in the world you are right now, you and those you care about are safe. These are extraordinary times for the Company and for its shareholders. While it is true that this global pandemic will be one of the defining events of 2020, I am pleased to assure you that at the time of writing this, PUDO is weathering the crisis with few operational disruptions. I will highlight Company progress related to parcel volume and previously disclosed contracts and developments, following a brief summary of PUDO's critical role in maintaining the global supply chain for North America in particular. Neutral backbone of the supply chain Since PUDO first commenced operations, we envisioned a 'new normal parcel pick-up and drop-off counter Network' to support North American e-commerce. Recent catastrophic events have served to confirm the PUDOpoint Network model's validity and value to a logistics supply chain charged with moving 38 million e-commerce parcels per day (14 billion annually) through the North American supply chain. Now more than ever before, PUDO is uniquely positioned to affect drastic and positive change, and define a safer, cleaner, more accountable future not only within its logistics sector, but for all North Americans. As North America's one and only carrier-agnostic pick-up and drop off counter Network, PUDO can respond to the global crisis in real time to answer the urgent call for secure, scalable, bi-directional delivery of goods, the volume and characteristics of which have never been seen before. Within our expanding and 'open' Network we can 'immediately' reduce human touch-points, chain of custody uncertainty, CO2 emissions, and delivery costs, while concurrently increasing profitability, accountability, and consumer peace of mind. The recent conclusion of a successful pilot program with e-commerce giant Amazon, designed to integrate PUDOpoints and services into their network, confirms the global legitimacy of our business model and lays the groundwork to move forward more quickly with expansion. As the top of the e-commerce funnel has widened exponentially this past decade, promising more customers and more products for less money in less time, the narrow bottom of the funnel (the so-called last-mile), hasn't expanded to suit. PUDO, by virtue of its open counter Network, consolidates fluid parcel traffic within the ecosystem. As that volume expands the funnel exponentially, PUDO is widening the bottom of the funnel with the on-boarding of each new Network partner to meet the logistical system's capacity needs. This past year has proven challenging for the logistics sector as a whole, as individual carriers and companies struggled to keep up with or integrate individual operating systems into the global network. During this period PUDO has experienced impressive growth in parcel volume and key partnership procurement, thus validating our model. I am confident that, current crisis notwithstanding, the e-commerce logistics sector is finally ready for the kind of virtual counter integration that only PUDO can offer. Recent Company highlights
Moving forward Together with our heroic community-based PUDOpoint partners — many of whom are considered essential services — and our equally heroic carrier and logistics partners, we will do whatever it takes to safely and securely deliver e-commerce parcels into the hands of the end customers as we continue to grow the Network. Now more than ever, we take our responsibilities to heart, not just to the global supply chain, but to our valued shareholders. The true value proposition of this remarkable company is just beginning to be discovered. All the preparation and groundwork accomplished previously is just now beginning to be recognized for what its full potential really is. The explosion of opportunity is almost upon us, and we are ready to meet the challenge. Thank you for your continued confidence and support. Sincerely, Frank Coccia To signup for PUDO News Feed please subscribe at https://www.pudoinc.com/en/news. For more information, please visit www.pudoinc.com or www.pudopoint.com. About PUDO PUDO Inc. is developing North America's only carrier-neutral parcel pick-up/drop-off technology and logistics Network, as a means of solving the last-mile parcel-traffic-control gridlock that challenges the $550B e-commerce sector. PUDO's team of logistics and parcel traffic management experts have created carrier-neutral plug-and-play technology and a strategically located Network of parcel pick-up and drop-off locations or PUDOpoints. PUDO reduces or eliminates last mile expense for e-retailers and partners with fulfillment and distribution solutions that include parcel storage and consolidation for click and collect deliveries, online returns and the nearly 30% of e-commerce parcels that are undeliverable on first attempt. PUDO's technology and Network provides carriers, retailers, and consumers with badly needed cost controls, choice, and convenience. PUDO was founded in 2015 and was recently named one of the Top 20 most innovative public technology companies by the Canadian Innovation Exchange. Information in this press release that is not current or historical factual information may constitute forward-looking information within the meaning of securities laws, such as statements regarding possible capital raising activity and possible future expansions of PUDO's operations. This information is based on current expectations and assumptions of management, including assumptions concerning PUDO's ability to raise additional capital. The use of any of the words "anticipate", "believe", "expect", "plan", "intend", "can", "will", "should", and similar expressions are intended to identify forward-looking statements. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Risks, uncertainties, and other factors involved with forward-looking information could cause actual events, results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking information. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Factors that could cause actual results to differ materially from such forward-looking information include, without limitation, uncertainties with respect to service implementation, the economic results of the relationship on the operations of the Company, changes in general economic, market, or business conditions, and those risks set out in the Company's public documents filed on SEDAR. This press release may contain future-oriented financial information or financial outlook within the meaning of applicable securities laws. Such future-oriented financial information or financial outlook has been prepared for the purpose of providing information about management's reasonable expectations as to the anticipated results of its proposed business activities. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The forward-looking statements contained in this press release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by law. SOURCE PUDO Inc. | ||
Company Codes: OTC-QB:PDPTF, CNSX:PDO |
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