Strength in Streaming Media Yields 1,195 % Sales Increase
May 13, 2014 - Vancouver, B.C.
Valdor Technology International Inc. ("Valdor") (TSX: VTI-V) (OTC: VTIFF) is pleased to report first quarter cash receipts for the period ending March 31, 2014 totaled US$316,930. Cash received from first quarter sales was US$169,475 and cash received from accounts receivables relating to Valdor's recent purchase of the business and assets of VideoWare, Inc., now called Niagara Streaming Media, was US$147,455. Valdor acquired the Niagara Streaming Media business effective February 14, 2014.
Sales for the first quarter were US$245,492 compared to US$20,538 for the first quarter 2013. This represents a 1,195% increase. This revenue encompasses US$216,700 from the Niagara Streaming Media division and US$28,792 from the Valdor Fiber Optics division.
Mr. John Hammock, Executive VP Sales & Marketing, Niagara Streaming Media states: "To date we have been meeting our sales objectives and we are confident that the year will progress well as we integrate into Valdor. Sales typically increase on a quarterly basis as the year progresses and with the new 'GoStream' product line we expect new revenue growth worldwide. We see some great business opportunities on the horizon".
Valdor has received initial comments from the US Securities and Exchange Commission (SEC) relative to listing on the OTCQB securities market (please see news release dated 14/3/26). Valdor plans to respond to these comments by 14/5/16.
Valdor is a technology company with two divisions:
1) Valdor Fiber Optics, a fiber optic components company specializing in the design, manufacture and sale of fiber optic splitters, connectors, laser pigtails and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. The company specializes in harsh environment products and in particular splitters and connectors and;
2) Niagara Streaming Media, a streaming video business that owns four patents and markets the Niagara and GoStream product lines. Streaming video is the future of television.
The Valdor business plan incorporates growth by acquisition. For further information on Valdor's product lines please visit www.valdor.com.
About Valdor Technology International Inc. (www.valdortech.com)
Valdor is a high technology fiber optic components company specializing in the design and manufacture of fiber optic connectors, laser pigtails, splitters, and other optical and optoelectronic components, including some that use the Valdor proprietary and patented Impact Mount™ technology. Valdor specializes in harsh environment products and in particular splitters and connectors. Valdor's business plan incorporates growth by acquisition. For information on Valdor's product lines please visit www.valdor.com.
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On Behalf Of the Board of Directors of
VALDOR TECHNOLOGY INTERNATIONAL INC.
Corporate Office: Suite 450 - 789 West Pender Street, Vancouver B.C. Canada V6C 1H2 ph. (604) 687-3775
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.