Galenfeha Asset Tracking System Proves Successful 8:30a ET November 13, 2014 (PR NewsWire) Print Galenfeha, Inc. (OTCBB: GLFH), an engineering and mechanical design firm with a focus on the oil and gas measurement, automation, and production industry, announces the successful proving of its proprietary, satellite/CDMA based, geo-location asset tracking system. For the last six months, Galenfeha has been developing a private label, unique, user interface driven, real-time performance and asset tracking system that is internally integrated within the Companys line of LiFePO4 battery systems. The system not only communicates the current battery performance, but also operates as a Cloud driven database to collect and collate individual client information, and uses unique ESN numeric identifiers to reference each clients specific asset performance and inventory. The system then utilizes a combination of CDMA technologies coupled with satellite geo-location referencing to accurately monitor and track the battery system in the event of theft. This feature, functioning as an integrated component within the battery product, was a specific engineering request from several of Galenfehas valued oil and gas clients. The Company is pleased to offer unparalleled engineering maneuverability, and effectively answered our customers request. The system successfully proved itself on 11/10/2014, when a battery with the asset tracking system was stolen from a natural gas location in East Texas. The Galenfeha server system features unique user access for individual clients and provides the ability to generate a geo-fence. In the event of a breach of the virtual perimeter that is set by the client, the system sends alerts via text message as well as e-mail notification to the user, and begins actively tracking the asset. This particular instance allowed for the mid-stream pipeline company to immediately alert local authorities to the event, as well as provide detailed directions to the perpetrators home, where he was arrested without incident and the asset was recovered. James Ketner, President and Chief Executive Officer of Galenfeha stated, The theft of batteries and equipment from oil and gas locations around the United States is, and has been, an ongoing issue. Our system provides our clients with a two-fold benefit of not only recovering the asset, but also helping to deter theft. These products assist clients by reducing interruptions of flow measurement equipment and critical day to day location services, which in turn helps increase operational efficiency. About Galenfeha, Inc. Galenfeha, Inc. is an engineering services and product development/manufacturing company serving the oil, gas, and energy industries. The company is continually researching and developing new products to aid energy producers in reducing costs, increasing efficiency, and reducing global pollution. Galenfeha products include a complete line of patent pending, microprocessor controlled, LiFePO4 chemistry battery systems for measurement, automation, and chemical injection systems. For more information on Galenfehas products and services, please visit galenfeha. Contact: LaNell Armour Director Galenfeha, Inc. larmour@galenfeha 773-879-6384 Forward-Looking Statements: Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as anticipate, believes, estimate, expect, should, intend, projects, objective, and appears, and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Companys management, as well as assumptions made by and information currently available to the Companys management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the impact of competitive products and pricing; capacity and supply constraints or difficulties; product development, commercialization, or technological difficulties; the regulatory and trade environment; the impact of reimbursement rates and coverage; and the risk factors reported from time to time in the Companys SEC reports. The Company undertakes no obligation to revise any forward-looking statements as a result of future events or developments. SOURCE Galenfeha, Inc. https://research.tdameritrade/grid/public/stocks/news/story.asp?docKey=100-317p0127-1
Posted on: Thu, 13 Nov 2014 15:16:56 +0000
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