VANCOUVER, British Columbia, May 13, 2014 (GLOBE NEWSWIRE) -- Valdor Technology International Inc. ("Valdor") (TSX-V: VTI ) (OTC:VTIFF) is pleased to report first quarter cash receipts for the period ending March 31, 2014 totaled $316,930 (all amounts quoted in US Dollars). Cash received from first quarter sales was $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 $147,455. Valdor acquired the Niagara Streaming Media business effective February 14, 2014.
Sales for the first quarter were $245,492 compared to $20,538 for the first quarter 2013. This represents a 1,195% increase. This revenue encompasses $216,700 from the Niagara Streaming Media division and $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 3/26/14). Valdor plans to respond to these comments by 5/16/14.
About Valdor Technology International Inc. ( www.valdortech.com ): 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 Valdor proprietary and patented technologies. 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. Fiber-to-the-home is the future of telephone, television and internet communications and 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 .
ON BEHALF OF THE BOARD OF DIRECTORS OF VALDOR TECHNOLOGY INTERNATIONAL INC.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
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