CTX Virtual Technologies, Inc. Announces an Amendment to the Three-Year $60 Million Purchase Agreement with a Major Electronics Distributor
2 hours 31 minutes ago - BIZ via Comtex
BusinessWire
CTX Virtual Technologies, Inc. ("CTXV" or the "Company") (Pinksheets: CTXV - News), announced today that certain product selections have been amended for a previously announced 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 amendment, we have removed the products referencing the evoMouse and CL-850 virtual keyboards and added the next generation CTX VK-200, MiSEETX Micro computer and Integrated Chip for the Tablet PC. All other terms of the contract remain the same. 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).
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.
SOURCE: CTX Virtual Technologies, Inc.
CTX Virtual Technologies, Inc.
Clifford Rhee, 561-962-2835
