VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 12/12/14 — Apivio Systems Inc. (formerly Moimstone Corporation) (“Apivio” or the “Company”) (TSX VENTURE: APV) is pleased to report progress with the initial launch of its line of Wi-Fi products. Apivio–s distributor in the USA, TeleDynamics, recently began marketing the company–s Wi-Fi phones. Initial demand has exceeded expectations, resulting in Apivio receiving purchase orders for 1,250 Wi-Fi phones in the past four weeks.
“I–m pleased that the scope and market size for our Wi-Fi telephone technology is much bigger than we initially anticipated,” stated Rob Bakshi, President and CEO of Apivio Systems Inc. “These purchase orders for our Liberty line of Wi-Fi products from TeleDynamics provide confirmation of the demand for our technology and the direction of our product enhancements and platform development.”
Keith Walker, Director of Purchasing of TeleDynamics states, “Apivio brings to the market exciting Wi-Fi technology platform oriented products that represent a vast and previously untapped market. We believe these are the products of the future and will ultimately lead to a wide array of Wi-Fi oriented products.”
Apivio–s product development strategy is to complete the technology software platform for its Wi-Fi line by Q3 of 2015. Until then, the Company plans to grow its sales in the North American market by taking a disciplined approach to ensure its end-product meets the needs of the digitally connected, mobile consumer.
“The Wi-Fi phone market is a new paradigm in communications,” added Bakshi. “To ensure strong market adoption, we are taking significant steps to plan out the brand and carefully scale our go-to-market strategy. Therefore, our launch has been and will continue to be controlled and limited until we develop key new components of this technology and better understand market positioning.”
The Company is currently in the process of launching a new website. The portal will focus on selling Apivio–s Wi-Fi line, allowing the Company to further test market and develop its digital communication solutions.
“Our goal to transition Apivio to one that develops its own software platforms for higher margins with repeat and recurring revenues from global markets is getting closer to reality,” says Bakshi. “Over the past year, the successful launch of our Android-based enterprise telephone for NEC as well as the Wi-Fi handset strategy both serve as strong validation for the new direction of the Company.”
About Apivio Systems Inc.
Apivio Systems Inc. (formerly Moimstone Corporation) (“Apivio” or the “Company”) (TSX VENTURE: APV) is a Canadian technology company principally engaged in the design, development, marketing, and sale of communications equipment and software. It has a wholly-owned Korean subsidiary with an eight year history of supplying VoIP telephone equipment and other products to major Korean and international telecommunications carriers. For more information regarding Apivio, please refer to its respective public filings available at .
About TeleDynamics
Austin, Texas-based TeleDynamics is a wholesale supplier of telecommunications products as well as a variety of consumer electronics. Over the past 30 years, the Company has nurtured a tradition of excellent customer service and expert product knowledge while providing competitive pricing to its customers. As members of both CEA and CEDIA, the Company is committed to expanding and growing its product offerings to meet consumer demands. For more information, please visit .
This press release has been prepared by Apivio Systems, Inc. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Statements contained in this news release that are not historical facts are “forward-looking information” or “forward-looking statements” (collectively, “Forward-Looking Information”) within the meaning of applicable Canadian securities legislation. Forward Looking Information includes, but is not limited to, disclosure regarding possible events, conditions or financial performance that is based on assumptions about future economic conditions and courses of action. In certain cases, Forward-Looking Information can be identified by the use of words and phrases such as “plans”, “expects” or “does not expect”, “is expected”, budget”, “scheduled”, “suggest”, “optimize”, “estimates”, “forecasts”, “intends”, “anticipates”, “potential” or “does not anticipate”, believes”, “anomalous” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the Forward-Looking Information. Although Apivio has attempted to identify important factors that could affect Apivio and may cause actual actions, events or results to differ materially from those described in Forward-Looking Information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that Forward-Looking Information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on Forward-Looking Information. Except as required by law, Apivio does not assume any obligation to release publicly any revisions to Forward-Looking Information contained in this news release to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
Contacts:
Apivio Systems Inc.
Rob Bakshi
President and Chief Executive Officer
+1-604-244-3700
PR Contact
Boilingpoint Group
Steve Kim
+1-604-315-2846
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