RAYS .0028 news out Raystream's Update to Shareholders And Investment Community RAYS Security Details Share Structure Market Value1 $64,968 a/o Jul 08, 2013 Shares Outstanding 49,975,000 a/o Sep 18, 2012 Float 24,975,000
Raystream's Update to Shareholders And Investment Community LAS VEGAS, July 9, 2013 /PRNewswire via COMTEX/ -- Raystream, Inc. (OTCPK: RAYS), a developer of High Definition video compression cloud-based software application is moving forward to bring the Company's financial filings current and entertaining business opportunities for generating new revenue streams.
Delmar Janovec, Raystream's new CEO, comments, "Brent Crouch, newly appointed CFO, and I came on board as the newly appointed Officers and Directors of Raystream on May 24, 2013. Since that time we have been in discussions with the major shareholders and major debt-note holders to develop a plan to bring the filings current, evaluate the current status of the High Definition video compression cloud-based software application, and to review new business opportunities that would add to the current operations of the Company.
Since the last quarterly filing for the period ended July 31, 2012, the Company has maintained limited operations and has continued to move forward with the completion of its High Definition video compression cloud-based software application. By maintaining its limited operations, and its primary asset (Intellectual Property valued at $1,000,000), the Company is not a shell. Based on the amount of development and investments by the Company, and with the continuing high demand for data storage, management believes completing the final stages of the software technology is in the best interests of the Company and its shareholders. Discussions with the software developer revealed the project is 98 percent completed."
Janovec further stated, "There is a lot to be accomplished to bring the filings current and our goal is to have this process completed and filed with the appropriate agencies within 75 days."
Raystream, Inc. (OTCPK: RAYS) is a developer of High Definition video compression cloud-based software technology that will have the ability to shrink the storage requirements for HD video files substantially whereby decreasing bandwidth and data storage costs.
The Company encourages the public to read the above information in conjunction with its year-end statements, Form 10-K, for April 30, 2011-2012, and the quarterly statements filed in calendar year 2012, at www.pinksheets.com .
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.