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.