Pasadena, CA, June 22, 2015 (GLOBE NEWSWIRE) -- ABT Mining Co. (Pink Sheets: ABOT.pk, the “Company”) announced that the Company has acquired “AutoClaim” Mobile App (the “App”), an advanced “Proprietary” real time Mobile Claims Documentation and Management System. The App will be available as a free download for personal use to over 200 million licensed drivers in the United States. All drivers, including commercial fleets, municipalities, and government agencies can utilize this App.
The App is indented to revolutionize the multi-billion dollar auto insurance claim industry at an operational and strategic level that will enhance customer service, streamline data management for effective decision making on claims, improve capital efficiency by correctly managing claims portfolios and provide many other benefits to insurance companies and its policyholders. The proprietary technology of AutoClaim will be a great asset for all users as it provides additional benefits to the end-user including customized and tailored offers, discounts and coupons. For more information on the App, viewers can go to www.ABTHoldings.com or www.AutoClaim.com.
Mr. Imran Firoz, CFO of the Company commented, “This is a major step forward in improving the Company’s balance sheet by adding a significant asset that can generate multiple residual revenue streams, while creating a positive cash flow for the Company.” Mr. Shahan Ohanessian, President and CEO of the Company, further elaborated, “Statistics show with more than 10 vehicle accidents every minute and over 90% of the accident victims using a smartphone, the AutoClaim App’s growth opportunity is tremendous. This untapped vertical will continue to grow as ABT will enjoy the first-mover advantage in the Mobile Claims Management business.”
The App is scheduled to be released as a free download for personal users between Q4 2015 / Q1 2016.
About the Company
ABT Mining Co. Inc. also doing business as ABT Holdings, is a diversified holding company engaged in investing, acquiring, developing, and growing various businesses that provide strategic advantages, generate attractive returns and significant free cash flow in order to maximize value of our shareholders.
Forward-Looking Statement
Any statements made in this press release which are not historical facts contain certain forward-looking statements; as such term is defined in the Private Security Litigation Reform Act of 1995, concerning potential developments affecting the business, prospects, financial condition and other aspects of the company to which this release pertains. The actual results of the specific items described in this release, and the company’s operations generally, may differ materially from what is projected in such forward-looking statements. Although such statements are based upon the best judgments of management of the company as of the date of this release, significant deviations in magnitude, timing and other factors may result from business risks and uncertainties including, without limitation, the company's dependence on third parties, general market and economic conditions, technical factors, the availability of outside capital, receipt of revenues and other factors, many of which are beyond the control of the company. The company disclaims any obligation to update information contained in any forward-looking statement. This press release shall not be deemed a general solicitation.