Cataca Resources Inc (OTCMKTS:CATQ) is now FlitWays Technology, Inc., following a reverse merger maneuver that positions the new company on the exchange without the expense of a traditional IPO. CATQ was a shell. In its new form, the stock is seeing some nice money flows and strong trader interest, so we thought it was a good idea to have a closer look. We found some pretty interesting details here.
The situation may be worth watching. CATQ has evidenced sudden upward volatility right out of the gates on a float in play that’s relatively small at just 15M shares. The elevator pitch here is potent: “Flitways is the Uber of pre-scheduled rides”. And CATQ is the ticker.
Cataca Resources Inc (OTCMKTS:CATQ), therefore, now holds Flitways, providing pre-booked ground transportation, including ride share, taxis, black cars and airport shuttles. The Company has a fully operational mobile app for business and leisure travelers and a full API for B2B with travel suppliers.
FlitWays uses state of the art technology to bring ground travel booking into the travel industry by building strategic partnership with major travel companies, travel networks, travel managements and hotels for travelers to make ground travel booking available at every travel point of sale. “Our solution allow travelers to pre-book ideal travel ride through FlitWays online booking engine or mobile app or through their preferred travel vendor.”
Flitways covers 110 major cities globally including North America, South America, Europe and Asia with access to over 15,000 vehicles.
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We don’t know a whole lot at this point, but we wanted to put this one on your radar given the explosive potential in this space, and the fact that Flitways is on the market and selling product. This is not an exploratory project. The app is in the app store, and you can book a trip right now on their site.
If you’ve used Uber or Lyft, then you have a basic idea. But if you don’t live in a big city, and you have a flight scheduled to go to Iceland to accept your elf-hunting trophy, you may be ready to go to the airport and tap on your Uber app and find there are no drivers around.
Flitways allows travelers to book in advance, perhaps the day before, so you know you will have a ride. That’s the idea.
However, if the Company develops a track record for not being on time or not showing up, it’s dead in the water. So, this story is all about execution. And it’s awfully hard to get drivers to be motivated for the big picture success of the Company when they are contracted workers who are probably also driving for Lyft and Uber, and maybe Yellow Cab and Luxury Limo.
That said, if Flitways can pull it off, CATQ could be a monster opportunity. We don’t have a lot of financials to work with yet here, so we will just have to watch for smoke signals and get back to you as soon as we have more. Suffice it to say, at this point, we only know this is very interesting. To get the full story on CATQ subscribe below to Oracle Dispatch right now.