Axios Mobile Assets Corp. announced that as a result of its inability to raise additional financing that it is ceasing its logistics operations effective immediately and has laid off of the majority of its employees. The company will continue to retrieve its pallets that are in circulation but once retrieved it will cease new issuances of pallets to its customers. The company is in default of its obligations with its secured lenders and has been advised that it will be receiving demand notices in respect of such outstanding debt.