CUMMING, Ga., April 4, 2006 (PRIMEZONE) -- PlanetLink Communications Inc. (OTCBB:PLKC), a provider of GPS satellite-based products and services, announced today that it has retired the majority of its convertible debentures. Mary Hitt, Treasurer and Director of Finance, stated that "The company is excited about being able to substantially reduce its debt level as this will bring the company closer to positive cash flow and profitability." The major benefit of retiring all but $49,000 of the company's outside debt is the reduction in interest expense plus debt repayment is not looming in the future. The company also filed its annual report Form 10KSB with the Securities and Exchange Commission on a timely basis. To view the report go to the www.planettraks.com and click on Investors and then SEC Filings.
Other news: The Two Men and a Truck Moving & Storage trade show that PlanetLink attended as a preferred provider was very successful. Interest from this franchise group is high; we have a number of quotes outstanding for installation of the TransTRAK product in franchise locations across the country. At the show Larry Lapaglia, Director of Agent Sales, presented the TransTRAK products. Plus one of the Two Men and a Track franchisees who is a PlanetTRAKS customer gave a demonstration to his fellow franchisees of how the TransTRAK product works including how the TransTRAK product enabled his customers to track their own moving van as it crosses the country.
If you wish to learn more about how PlanetTRAKS and the TransTRAK system can help your company reduce fuel costs and increase the productivity, efficiency and safety of your fleet, please contact Larry Lapaglia (210) 442-2404.
About PlanetLink Communications, Inc.
PlanetLink Communications, Inc. recently launched its TransTRAK(tm) product through its wholly owned subsidiary, PlanetTRAKS. The Company is developing a family of GPS-enabled products and services under the PlanetTRAKS name. TransTRAK(tm) is the first of these products and is the Company's turnkey solution for real-time, mobile asset management. From tracking vehicle speed and location in real-time to controlling vehicle functions through remote access, TransTRAK(tm) allows the customer to actively monitor and manage virtually any type of mobile asset. For more information on PlanetLink, please visit the company's Website at: http://www.planettraks.com
Information contained in this press release includes forward-looking statements. Forward-looking statements usually contain the words "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's status as a startup company with uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its products, competition, limited service and manufacturing facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein. Factors that could cause or contribute to such differences are discussed more fully in the "Risk Factors," "Management's Discussion and Analysis" or "Plan of Operation" and other sections of the Company's Form 10-KSB and other publicly available information regarding the Company on file with the Securities and Exchange Commission. The Company will provide you with copies of this information upon request.