Business Context and Reporting Period
This Form 8-K Current Report was filed by Segmentz, Inc. on January 12, 2005. The report discloses a corporate governance event: the election of Calvin (Pete) R. Whitehead to the Board of Directors on January 11, 2005. The company operates in the expedited delivery and line-haul shipping sectors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the appointment of a new director and does not contain financial statements or performance data.
Material Changes
The material change reported is the addition of Mr. Whitehead to the Board of Directors. Mr. Whitehead is a retired former president of Atlantic Automotive Components, where he oversaw revenue growth from $18 million to over $90 million between 1995 and 2003. No financial or operational changes for Segmentz, Inc. are detailed in this document.
Guidance, Outlook, and Management Commentary
- CEO Commentary: Allan Marshall, CEO, stated that Mr. Whitehead's appointment augments corporate leadership with success history, long-standing automotive industry relationships, and Midwestern regional connections to aid market expansion.
- Director Commentary: Mr. Whitehead noted that expedited delivery and line-haul shipping are critical to supply chains. He expressed confidence in Segmentz's people, geographic footprint, and business plan to become an industry leader.
- Risks and Contingencies: The filing text does not provide specific risks, contingencies, or unusual items.
Key Facts for Investor Verification
- Verify the effective date of Mr. Whitehead's board seat and any associated compensation arrangements.
- Confirm the company's current financial status and liquidity, as this filing contains no financial data.
- Review the company's strategic plan for expanding into Midwestern markets as referenced by management.
- Note the discrepancy in the metadata provided (XPO, Inc.) versus the actual registrant in the text (Segmentz, Inc.).