MIAMI, July 29, 2004 (PRIMEZONE) -- Stockwire Research Group announces it has initiated coverage on Grayling Wireless (Pink Sheets:GRYW).
Stockwire.com originally initiated coverage of this up and coming tech company back in March of this year.
Yesterday the company announced it has acquired an initial 27.5% equity interest in Virtual Wave Group Inc. Virtual Wave specializes in GPS tracking systems, and is currently marketing a system similar to Onstar and LoJack. Virtual wave recently finalized a contract with a South African insurance company to install its tracking units in 9,600 of the company's insured vehicles, which amounts to approximately US $16,000,000 over the next five years.
For more information on Grayling, please see the press release issued on July 28 titled "Grayling Acquires Interest in Virtual Wave Group Inc."
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