ONTARIO, Calif., (November 29, 2017) (GLOBE NEWSWIRE) -- (OTCBB:TTTM) www.t3motioninc.com - T3 Holdings, Inc., d/b/a T3 Motion, Inc., today announced its acquisition of the former operations of T3M, Inc., under a final order of the United States Bankruptcy Court, Central District of California, whereas T3 Holdings, Inc., acquired essentially all of the assets of the debtor T3MI. The final order of the court was entered on November 27, 2017.
T3 Motion, originally founded in 2006, pioneered and patented the design of the 3 Wheel Electric Standup Vehicle, used throughout law enforcement and commercial security operations worldwide. To date, T3’s are in use by more than 350 domestic and international law enforcement agencies including approximately 50 of the world’s largest international airports, including John Wayne Airport, SNA, in Santa Ana, Ca. Today, it is estimated that T3 holds an estimated 84% market share with the company’s iconic T3 Patroller™ Series of vehicles servicing the who’s who of local and government law enforcement, campus security, commercial patrol and retail security operations.
Under the company’s new ownership, T3 Motion, which initially traded on the AMEX stock exchange, has evolved into a well-capitalized, debt free, private operating company with its manufacturing headquarters located in Ontario, CA, and with a wholly owned Chinese subsidiary, operating in China, building a modified version of its domestic T3 Patroller™ Series vehicle for distribution throughout Asia.
All U.S. and international customers, outside of Asia, will continue to receive vehicles built exclusively in the United States following the company’s long-term commitment to, ‘Made in America’. The company is also aggressively pursuing its enforcement rights of its large intellectual property portfolio, to stop the unauthorized and illegal manufacturing of Chinese cloned vehicles which have been being offered for sale in mainland China and in some regions of the United States, by previous employees of the company.
T3 Motion, under the management of industry leading professionals, will continue to focus its efforts on providing the highest quality service in the industry, as well as the expansion of the company’s leading-edge technologies, into numerous new markets, including the expanding recreational vehicle market.
T3 Motion, as the dominate global manufacturer of Electric Standup Vehicle Technology, continues to lead the market with its iconic T3 Patroller™ and new T3 Vision™ Series vehicles which have been designed and field tested for more than a decade. When it comes to meeting the demands and harsh environments of governmental law enforcement, campus and professional security and patrol operations, clearly, T3 has established itself as the vehicle platform of choice for both indoor and outdoor applications.
About T3 Motion
T3 Motion, Inc. designs, markets and manufactures the T3 Patroller™ and Vision Series™ Electric Stand-up Vehicles. Headquartered in Ontario, California, T3 Motion is dedicated to raising the bar on law enforcement and security capabilities in personal mobility technology. More than 5,000 T3 vehicles have been deployed in over 30 countries worldwide. For more information, visit www.t3motioninc.com.
“Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding T3 Motion’s business, which are not historical facts, are "forward-looking statements" that are not guarantees of future performance. Such forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those anticipated by the forward-looking statements.