January 4, 2007 - 5:40 AM EST
"I couldn't be more excited about this new agreement. For the last year, the entire Infotec family has been focused on building a truly global brand, and we are finally on our way to achieving it," said Infotec CEO Arthur Griffiths.
"The significance of this strategic and exclusive alliance with Mazsky cannot be overstated," emphasized Mr. Griffiths. "Both we and our Saudi partners believe this to be a multibillion dollar market opportunity waiting to explode."
"This is a monumental day for our two organizations. This new partnership with Infotec signals the next chapter in our companies' growth and our ability to connect the world with new media technologies," said Mazky CEO Dr. Yusuf I. Qassim.
"By working together under this new agreement, Infotec and Mazsky can catapult the broadband streaming and wireless industries into a new era of opportunity on a global scale. By improving the technology and making it available to larger markets, we're building our organization to be the premiere name in web streaming solutions worldwide," added Griffiths.
March 16, 2007
7. Bad Debt Expense
A Bad Debt Expense has been incurred during the quarter due the uncollectability of our October 31, 2006 invoice to Mazsky International. We have exhausted all collection efforts and we are currently consulting with international legal advisors.
