BOCA RATON, FL -- (Marketwire) -- 10/04/10 -- CTX Virtual Technologies, Inc. (PINKSHEETS: CTXV) announced that it has signed a supply agreement with Beijing Broadcasting Corporation in co-operation with Beijing Capitel for the purchase of 200,000 units of smart phones with special features for a total of $45 Million USD. The first 20,000 unit release is scheduled for delivery by the end of 2010. The phone will feature GPS, digital broadcast, traffic information and other special applications.
In commenting on the supply agreement, Clifford Rhee, CEO of the Company, stated, "We are pleased to work with a major communication player in China. Based on the past success with this long-term client, we have every confidence that the new model will be well received by the buying public."
"This phone will open up tremendous opportunities for smart phone application such as remote data terminals to receive broadcasted contents," said Stephen Lee, Managing Director of Kaibida International Limited, a wholly owned subsidiary of CTX.
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.