CTX Virtual Technologies, Inc. Announces a Three-Year $60 Million Purchase Agreement With a Major Electronics Distributor
30 Agosto 2010 - 4:00PM
Marketwired
CTX Virtual Technologies, Inc. ("CTXV" or the "Company")
(PINKSHEETS: CTXV) announced today that its wholly owned
subsidiary, Kaibida International Limited, has entered into a
volume purchase agreement with TGE Group, a leading electronics
provider of multi-functional digital multimedia devices for
worldwide OEM/ODM customers. TGE Group sources product for a number
of global consumer electronics companies. Under the agreement, we
have appointed TGE Group as a worldwide distributor of our
evoMouse, virtual keyboard and other consumer electronics products,
with exclusivity for three years for certain of TGE Group's
existing customers. During the three-year period, TGE has agreed to
purchase from us, and we have agreed to sell to TGE, units of our
products having an aggregate purchase price of $60 million (or an
aggregate of two million product units). The initial shipment is
expected to start in the 4th quarter of 2010.
CTX Virtual Technologies, Inc. CTX Virtual
Technologies, Inc., through its subsidiaries, is a virtual
telecommunications technology company with facilities in the U.S.,
China, Canada, and Korea. For more information about the Company,
please visit the Company's web site at www.ctxtechnologies.com.
Forward-Looking Statements -- The statements made in this
release that are not historical facts contain forward-looking
information that involves risks and uncertainties. All statements,
other than statements of historical facts, which address CTX's
expectations, should be considered as forward- looking statements.
Such statements are based on knowledge of the environment in which
CTX currently operates, but because of risks and uncertainties,
actual results may differ materially from the expectations
expressed in the forward-looking statements. Important factors that
may cause actual results to differ from anticipated results
include, but are not limited to our ability to obtain orders and
fill orders on a timely basis, our ability to obtain funding as and
when needed, market acceptance of new products incorporating our
technologies, the success of our product design and research and
development efforts, intense competition, risks of doing business
in China and other foreign markets, our ability to manage growth
and our ability to successfully protect and enforce our
intellectual property rights.
For further information, contact: Clifford Rhee CTX Virtual
Technologies, Inc. Tel: (561) 962-2835
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