TMCnet News
CTX Virtual Technologies, Inc. Enters New Product Distribution PlanBOCA RATON, Fla. --(Business Wire)-- CTX Virtual Technologies, Inc. (Pink Sheets: CTXV), a technology company that manufactures and distributes mobile telecommunication, virtual imaging and mobile data input accessories, today announced it has entered and developed a mutually beneficial product distribution plan with one of the nation's largest specialty retail outlets. The plan utilizes interactive selling with a multi-channel approach offering our next generation VK200 Key Fob, VK200 Mouse and our newest product the CTX iPhone (News - Alert) Casing. Key Fob Bluetooth connected to cell phone displaying Interactive Virtual Keyboard (Photo: Business Wire) Under the terms of the 3-year agreement the full product launch is anticipated to begin in Q2 2012 and will be marketed through 300 retail stores across the United States with an aggressive ecommerce campaign and key positioning in an established catalog distribution network. Under the base agreement we estimate first year revenues in the multi-million dollar range per annum with the possibility of additional revenue through our client's key partnershis with the nation's largest and most well-known office supply, home accessory and TV product marketing companies. "We are very excited to enter into this agreement with a retail company we feel represents the cutting edge of today's highly competitive electronics industry. Their reputation for successfully introducing advanced electronic products into the marketplace is established and well known," states Cliff Rhee CTX President and CEO. Rhee goes on to say, "We look forward to working closely with the company's nationwide team to increase their sales and market share and we are very confident our brands will be well received by all of our new clients outlet channels." 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. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50219717&lang=en |
