SOURCE: CTX Virtual Technologies, Inc.
BOCA RATON, FL--(Marketwired - Dec 17, 2013) - CTX Virtual Technologies, Inc. (OTC Pink: CTXV), a technology company that manufactures and distributes mobile telecommunication, virtual imaging and mobile data input accessories, today announced the signing of a supply contract with Chinese Government procurement bureau to supply CTX developed Electronic Walking Aid for the blind. The 5 year supply agreement calls for annual supply of 170,000 units of Electronics Walking Aid complete with Obstruction sensor, GPS locator and SOS emitter. The total order is worth $10.6 million USD per annum and will run for 5 years.
Clifford Rhee, CEO, stated, "This new government contract is another example of CTX's commitment to the development of new product applications. A special mention goes to our hard working sales team and application engineering group for achieving this successful outcome throughout the tendering process."
Forward-Looking Statements -- The statements made in this release may contain forward-looking information that involves risks and uncertainties. All statements, other than statements of historical facts, should be considered as forward-looking statements. Such statements are based on knowledge of the environment in which the Company currently operates, but because of risks and uncertainties, actual results may differ materially from the expectations expressed in the forward-looking statements. 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.