Resource America, Inc.
1521 Locust Street - 4th Floor
Philadelphia, PA 19102
( 215 ) 546 - 5005
( 215 ) 546 - 5338 ( facsimile )
RESOURCE AMERICA, INC. ANNOUNCES ATLAS TECHNOLOGIES LICENSE AGREEMENT
Philadelphia, PA, January 6, 2022 - Resource America, Inc. (NASDAQ:REXI) (the "Company") announces that Atlas Technologies, LLC, a provider of information management solutions to the energy industry, signed a license agreement with CNG Retail Services, Inc. ("CNG"). CNG is a wholly owned subsidiary of Consolidated Natural Gas, one of the largest natural gas systems in the U.S. serving about 1.8 million customers in Ohio, Pennsylvania, Virginia, and West Virginia. The Company will provide its Readi-Systemtm(Retall Energy Automated Data Integration) billing solution to service CNG's non-regulated residential and small commercial customers across multiple local distribution companies. Fifty percent of Atlas Technologies is owned by Atlas America, Inc., a wholly owned subsidiary of Resource America, Inc.
The Readi-Systemtm is a fully functioning billing and customer care solution for energy service providers and utilities alike. The company passed rigid system performance tests to prove to CNG that its system could provide timely billing, receivables management and customer inquiry services for up to 1 million customers each month.
Tom Dodd, CNG's Vice President of Operations noted that The Readi-Systemtm was selected because of the depth, system functionality and significant flexibility of the Company. Tony Banks, Executive Vice President of Atlas Technologies, states, "We are extremely pleased that this new technological advance has been adopted by our first major customer. This provides us with instant credibility as a provider of information management solutions and consulting services to the energy industry."
Resource America, Inc. operates a diversified financial services company engaged in equipment leasing, energy and energy finance, and real estate finance, acquisition and resolution.
Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. The Company's actual results, performance or achievements could differ materially from those expressed or implied in this release.