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Thread: NVI.V - Novra Technologies Inc.

  1. #1
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    NVI.V - Novra Technologies Inc.

    Novra Technologies Inc. Due Diligence Report

    Symbol: NVI.V
    Price: $0.08
    Common Shares: 22,387,993
    Insider/Institutional Holdings: 12,042,430(53.4% as per SEDI & Sedar)
    Website: http://www.novra.com

    Most recent financial results( Ending Sepetember 30th 2015)

    ASSETS
    Cash: $420,346
    Accounts Receivable: $869,025
    Notes Receivable: $133,909
    Inventory: $678,283
    Prepaid Expenses: $136,980
    Options: $5,584
    Equipment: $26,036
    GIC : $200,000
    Total Assets: $2,470,163

    LIABILITIES
    Line of Credit: $665,000
    Accounts Payable: $645,185
    Deferred Income: $7,996
    Due to related party: $250,000
    Current portion of long term debt: $98,470
    Long Term Debt: $372,959
    Total Liabilities: $2,039,610

    **NOTE** NVI is cash flow positive, except will show a loss in the last quarter due to options expiring. These were given to NVI for a deal that was done in 2014(see MD&A below for more information).

    Q3 Sales
    Revenue: $662,877
    Gross Profit: $262,644
    Net Income: $125,338
    Loss on Options: $203,316

    9 Month Sales
    Revenue: $2,033,326
    Gross Profit: $870,992
    Net Income: $423,908 or $0.02c EPS
    Loss on options: $39,734

    MD&A Highlights

    Novra Technologies Inc. (“Novra” or the “Company”) offers premium broadband receivers/routers and applications for satellite and terrestrial broadcast markets. Novra's products are value priced, standardscompliant and enable delivery of Internet, multi-media files, weather data, video (IP-TV) and audio streams using the Internet Protocol (IP) over DVB/MPEG digital TV broadcasts. Novra has three product families: DVB-IP encapsulators, satellite and terrestrial broadband receivers and a multimedia distribution and management system for digital signage and captive audience networks. Novra's products are sold worldwide through sales agents, resellers, solution integrators and service provider partners.

    In February 2014 Novra announced that it had agreed (subject to Novra’s due-diligence) to acquire two US based technology companies. Wegener Communications, a publically traded US based communications technology company located in Atlanta GA and Westport Research and Associates, a private company based in Kansas City, MO.

    Since the announcement, Novra has worked closely with Wegener to help it restructure most of its debt and assist with inventory purchases and marketing. Westport also had changes made to it operational and ownership structure and it is in a much better position to be acquired by Novra. We expect these acquisitions to complete within the next 6 months.

    Novra also agreed to become a low margin supplier to Wegener Communications, and as part of this agreement, Novra was given an option to purchase up to 15,000,000 Wegener shares at $0.03 each. This stock option expires on December 31, 2015. For this reporting period this option has generated unrealized loss of $60,995 which is reflected in our reported results.

    Despite challenging world economic conditions in the past couple of years, we continue to see positive results from our considerable engineering and marketing efforts in the last few quarters. Novra’s products have been selected and proposed for a number of major projects which we are anticipating will generate higher 2015 receiver sales compared to our 2014 receiver sales. We are in discussions with government and military organizations to customize and expand our products to meet requirements as they replace existing infrastructure and move to new technologies.

    This is a very long MD&A and I recommend that you go to www.sedar.com and continue reading from there.

  2. #2
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    Just did my weekly scan for new information on NVI, looks like another partnership with Novra:

    Partner Website - http://www.united-telecom.gr/

    Brochure that shows customers - Nissan, Nintendo, HSBC, UPS, Citibank, etc - http://www.united-telecom.gr/images/...Telecom-EN.pdf

    Partner companies - http://www.united-telecom.gr/index.p...-partners.html

    Novra Technologies Inc. – is a Canadian hi-tech company located in Winnipeg, Manitoba, specializing in the transmission and reception of IP data over Digital Video Broadcast (DVB) channels by using terrestrial and satellite communication links, while suppling cost-effective products and solutions for providers of IP datacasting, IPTV, and digital signage systems and services.

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    Novra to acquire Int'l Datacasting for $1.9-million



    2016-04-19 06:37 MT - News Release

    Also News Release (C-IDC) International Datacasting Corp

    Mr. Harris Liontas of Novra reports

    INTERNATIONAL DATACASTING TO MERGE WITH NOVRA TECHNOLOGIES TO CREATE A WORLD-CLASS BROADCAST TECHNOLOGY PROVIDER

    Novra Technologies Inc. and International Datacasting Corp. have approved a merger agreement for IDC to merge with Novra. Under the terms of the merger agreement, Novra will acquire 100 per cent of the issued and outstanding common shares of IDC for total purchase consideration of approximately $1.9-million. This proposed transaction was done at arm's length and there was no finder's fee.

    This merger of two recognized market leaders in the broadcast space advances Novra's previously communicated strategic vision to combine companies with strong complementary product lines, broad global install bases and operational synergies to create a solutions-based provider that will offer clients a broad scope of cost-effective solutions and services, and deep access to industry expertise. By combining forces with IDC, Novra is well positioned to increase its market share in the data, radio and television broadcast segments, along with digital cinema and Internet protocol TV.

    "The combination of IDC and Novra creates an exciting opportunity for our company, for our customers and for our shareholders. This is a compelling financial and strategic transaction with meaningful operational efficiencies that will lead to a stronger balance sheet and profitability for Novra," said Harris Liontas, president and chief executive officer of Novra. "This merger, along with the pending acquisition of Wegener Corp. that was previously announced by Novra, will create a world-class company that is going to provide innovative and compelling solutions. With over 200,000 installations in over 100 countries, our strategy is to offer our clients protection of their current investments as they expand or upgrade their networks by offering them flexibility in product choices that use a common control platform."

    "We are thrilled to merge with Novra," said Steve Archambault, chief financial officer and interim chief executive officer of International Datacasting. "We believe this merger creates a company that will optimize value for our shareholders and provide significant opportunities for our employees. Additionally, the combined complementary product and solution offerings will enable us to provide a broader range of products in order to better capitalize on the market opportunities for servicing the world's premier broadcasters in radio, video, digital cinema and data networks."

    Under the terms of the merger agreement, the purchase consideration will be one cent in cash per share, one Novra common share for every 10 IDC common shares and one Novra warrant for every five IDC common shares. IDC currently has 66,744,407 issued and outstanding common shares. The Novra warrant will provide the right to purchase one common share of Novra at 12 cents each and will expire one year from closing. The merger agreement also includes a break fee of $150,000 in the event IDC or Novra terminates the proposed transaction other than under certain specific conditions as defined in the agreement.

    Completion of the transaction is subject to receipt of required IDC shareholder approval and any required regulatory approvals. IDC will hold a special meeting on May 30, 2016, for shareholder review and consideration of the merger, including the delisting of IDC's common stock from the TSX Venture Exchange shortly after the consummation of the merger. IDC shareholders as of April 19, 2016 (the record date), will have the opportunity to vote at this special meeting. A management information circular providing further details with respect to the transaction will be provided to IDC shareholders in advance of the special meeting. The transaction is expected to close by June 15, 2016. As a result, the IDC board of directors and Mr. Archambault have agreed to delay Mr. Archambault's previously announced planned date of departure from IDC to the earlier of the closing date of the merger or June 15, 2016.

    We seek Safe Harbor.

    © 2016 Canjex Publishing Ltd. All rights reserved.

  4. #4
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    Novra Technologies Inc. Year End Results (December 2015)

    Symbol: NVI
    Stock Price: $0.11
    Common Shares: 22,387,993
    Insider Holdings: 12,042,430 (53.4% as per SEDI and Sedar)
    website: www.novra.com
    Financials

    Assets
    Cash: $577,132
    Accounts Receivable: $875,464
    Notes Receivable: $138,475
    Inventory: $531,255
    Prepaid Expenses: $7,062
    Options: $55,281
    Equipment: $25,937
    GIC: $200,000
    Total Assets: $2,410,606 (2014: $2,158,821 )

    Liabilities
    Credit Line: $555,000 (2014: $730,000)
    Accounts Payable: $696,125
    Deferred Income: $24,950
    Due to related party: $250,000
    Due portion of debt: $99,575
    Long-term debt: $377,147
    Total Liabilities: $2002,797 (2014 - $2,112,442)
    2015 Sales
    Revenue: $2,712,671
    Gross Profit: $948,046
    Net Income: $361,430 or $0.0161c EPS
    MD&A Highlights
    This will be very brief due to the size of NVI’s MD&A. It is recommended that all shareholders go to Sedar and read all the notes. Below is a copy/paste of the highlights section.
    • Subsquent to the end of the reporting period, a merger agreement between Novra and International Datacasting Corporation (IDC) was signed, where Novra will acquire all of IDC’s issued and outstanding common shares for total purchase consideration of approximately $1.9 Million. This merger is subject to IDC’s shareholders’ approval and a special shareholders meeting has been scheduled for May 30, 2016 with an expected closing date in early June.
    • Term sheet for the acquisition of Wegener Communications is in place and the acquisition is expected to be completed in the next 6 months.
    • A new acquisition term sheet is currently being negotiated and if successful it is then expected that the acquisition of Westport will be completed within 6 months following.
    • In Q1 2016, a major US satellite operator has evaluated and recommended to their clients our receivers for two new projects. These opportunities require about 3,000 receivers each. We are now anticipating final approval from the end-clients by Q2/Q3 2016.
    • In 2014 an initial order was received to modify our S300 receiver for integration into a portable communications system for the US military. As a result of the success of this project, our S300 is now being used for a larger military project. We have received an order for 15 monthly shipments starting January 2016. Subsequently, in April 2016, we received an additional order which almost doubles the number of receivers to be shipped.
    • In this reporting period another major US defense agency selected the S300 for a special project. The S300 has been proposed for additional projects by this agency, which are waiting for approval.
    • For this reporting period Novra received and delivered an initial order 1,500 for our S300CA receivers from a large US based hospitality service provider of interactive media and connectivity services. We expect additional orders from this client and other European clients in the hospitality services in Q2 2016.
    • Novra was approved for a $447,500 repayable loan from the Canadian Government for the development of a new Encapsulator (IPE) and enhancements to our new S400 receiver. This represents 50% of the anticipated expenditures on these R&D efforts over the next 24 months.
    • Novra receivers were selected by system integrators in the US and Asian Pacific and proposed for several large networks. We are anticipating orders from these opportunities in 2016.
    • Continued expansion of an apartment IPTV network deployment in Japan. During this reporting period we shipped 940 of our S200 receivers for this network and received an order for another 370 for delivery in 2016. We are currently working to secure a much larger follow-on order and we expect shipments to start in Q4 2016 and span over 24 to 36 months.
    • Our receivers were previously selected for two Digital Signage networks by our South African service provider. We are continuing to receive follow-on orders as these existing networks are expanded across Africa and new clients are added.
    • Increased interest and on-going evaluations of our S300 family of receivers by international clients
    • Our S200FK (Fixed Key) receiver was selected as a replacement to a competitor’s receiver for an existing Japanese satellite network. We received an initial order during this reporting period and we expect to ship additional receivers in Q2 2016.
    • Our more powerful S300FK was also selected for another Japanese network. An initial order has been received in the period and shipped in Q4. We expect more orders as this network is expanded in 2016.
    • Novra’s S300 receivers are installed across China for a low data rate news broadcasting application. We have received follow-on orders for this reporting period and expect these orders to continue in 2016.
    • For this reporting period we have and continue to receive orders for our S300 receivers by NOAA and its clients for existing and new weather related services. We expect these orders to continue through 2016.
    • The European weather service switched from DVB-S to DVB-S2 on Jan 1, 2015 and Novra’s S300 is an approved receiver. For this reporting period we received orders from clients across Europe, Africa and Middle-East for this service and we expect these orders to continue (at a slower pace) for 2016. Some of the orders we received for this reporting period were for EU military forces.
    • Japan Meteorological Agency (JMA) previously selected Novra’s receivers for the reception of their newly launched weather service called Himawaricast. For this reporting period we have received orders from clients who are signing onto this weather service across the Far East. We expect additional orders as this new Japanese weather service is fully launched in 2015/16.
    • JMA is the third global meteorological agency to have selected Novra’s products for their own installations and listed our S300 as an approved receiver for the reception of their weather related services to their clients. These agencies are, NOAA (US), EUMETSAT (EU), JMA (Japan). We are very proud of this achievement.

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    Novra Technologies Inc Q1 Results (Ending March 31 2016). Financials + MD&A

    NOTE: Keep in mind that NVI’s quarters fluctuate based upon received/executed orders. This means that one quarter might have incredible earnings, while other quarters are very poor. The key here is that NVI ends the current year in a more profitable/stable situation than it started. The MD&A’s are quite long due to multiple things going on. As well, the merger between IDC.V and NVI.V was approved today, so now there are three companies (IDC, Westport, Wegener) that will all be amalgamated into one large company that can dominate this sector.
    Price: $0.09
    Common Shares: 22.4 million
    Insider/Institutional Holdings: 53.4%(pre NVI/IDC Merger)
    Financials
    Assets
    Cash: $1,100,947
    Accounts Receivable: $682,313
    Notes Receivable: $129,670
    Inventory: $596,100
    Prepaid Expenses: $110,439
    Options: $62
    Equipment: $13,315
    GIC: $200,000
    Total Assets: $2,832,846

    Liabilities
    Line of credit: $495,000
    Accounts Payable: $969,033
    Deferred Income: $4,175
    Due to related party: $743,888
    Portion of long-term debt: $100,693
    Long-Term Debt: $381,380
    Contribution Agreement: $37,382
    Total Liabilities: $2,731,551
    Q1 Revenue: $315,701
    Net Loss: $306,514 - $69,715 was from expired options and sold equipment
    MD&A Highlights
    NOTE: This is a very long MD&A and below is a highlight reel the company has already made. I would recommend that all shareholders look over the whole MD&A on Sedar.
    The delay of a number of our client’s projects to the second half of 2016 had a negative impact on our financial results for this reporting period, Novra’s sales decreased by 72% to $315,701 (2015 $1,112,467) with gross margin equal to 29% (2015 49%) of sales. Our normal margins are in the range of 45% to 54% but for this reporting period we had some sales to Wegener with only a 5% margin. Loss from operations was $236,798 (2015 income of $482,267) and net income loss was $306,514 (2015 income of $619,898), which includes an unrealized foreign exchange gain of $NIL (2015 loss of $4,857). Our results also include an unrealized loss on the Wegener stock options of $55,218 (2015 gain of $142,506).
    •In April 2016, a merger agreement between Novra and International Datacasting Corporation (IDC) was signed, where Novra will acquire all of IDC’s issued and outstanding common shares for total purchase consideration of approximately $1.9 Million. This merger is subject to IDC’s shareholders’ approval and a special shareholders meeting has been scheduled for May 30, 2016 with an expected closing date in early June.
    • Term sheet for the acquisition of Wegener Communications is in place and the acquisition is expected to be completed in the next 6 months.
    • A new acquisition term sheet is currently being negotiated and if successful it is then expected that the acquisition of Westport will be completed within 6 months following.
    • In Q1 2016, a major US satellite operator has evaluated and recommended to their clients our receivers for two new projects. These opportunities require about 3,000 receivers each. We are now anticipating final approval from the end-clients by Q2/Q3 2016.
    • We modified our S300 receiver for a pilot project integrating our S300 into a portable communications system for the US military. As a result of the success of this pilot project, our S300 is now used in a large military project. We have received an initial order for 15 monthly shipments starting January 2016, subsequently, in April 2016, we received an additional order which almost doubles the number of receivers to be shipped starting August 2016.
    • In this reporting period another major US defense agency selected the S300 for a special project. The S300 has been proposed for additional projects by this agency, which are waiting for approval.
    • Novra receivers were selected by system integrators in the US and Asian Pacific and proposed for several large networks. We are anticipating orders from these opportunities in Q3/Q4 of 2016.
    • Continued expansion of an apartment IPTV network deployment in Japan. We currently have an order for 370 of our S200 receivers of which we shipped 70 units in Q1 with another 300 to be shipped in Q2 and Q3. We have been working for the past 9 months to secure a multi-milliondollar order for an upgrade to this network’s satellite receivers. We were notified in April that Novra was selected as the vendor for this upgrade and we expect the first order in Q4 and expect this upgrade span over 24 to 36 months.
    • Our receivers were previously selected for two Digital Signage networks by our South African service provider. We are continuing to receive follow-on orders as these existing networks are expanded across Africa and new clients are added.
    • Increased interest and on-going evaluations of our S300 family of receivers by international clients.
    • Our S200FK (Fixed Key) receiver was selected as a replacement to a competitor’s receiver for an existing Japanese satellite network. We received an initial order in Q4 215 and we expect to ship additional receivers in Q3 2016. 5
    • Our more powerful S300FK was also selected for another Japanese network. We shipped a small number for a pilot project in 2015 and we expect more orders as this network is expanded in 2016/17.
    • For this reporting period we have and continue to receive orders for our S300 receivers by NOAA and its clients for existing and new weather related services. We expect these orders to continue through 2016.
    • The European weather service switched from DVB-S to DVB-S2 on Jan 1, 2015 and Novra’s S300 is an approved receiver. For this reporting period we received orders from clients across Europe, Africa and Middle-East for this service and we expect these orders to continue (at a slower pace) for 2016.
    • Japan Meteorological Agency (JMA) previously selected Novra’s receivers for the reception of their newly launched weather service called Himawaricast. For this reporting period we have received orders from clients who are signing onto this weather service across the Far East. We expect additional orders as this new Japanese weather service is fully launched in 2015/16.
    • Novra’s S300 receivers are installed across China for news broadcasting applications and receiving the new JMA weather service. For this reporting period we have received follow-on orders for these applications and expect these orders to continue in 2016/17.
    • JMA is the third global meteorological agency to have selected Novra’s products for their own installations and listed our S300 as an approved receiver for the reception of their weather related services to their clients. These agencies are NOAA (US), EUMETSAT (EU) and JMA (Japan). We are very proud of this achievement.

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    International Datacasting merger with Novra, delisting

    2016-06-17 14:56 MT - Shares Delisted from TSX-V

    Also Amalgamation (C-NVI) Novra Technologies Inc

    By certificate of amalgamation, Novra Technologies Inc. and International Datacasting Corp. (IDC) has amalgamated on the following basis:
    One common share of Novra for every 10 common share of the company held and one warrant of Novra, exercisable at 12 cents for one year;
    In addition, shareholders will receive one cent in cash per IDC share held.
    Effective at the close of business on June 20, 2016, the common shares of Novra will commence trading on the TSX Venture Exchange and the common shares of IDC will be delisted. The company is classified as a satellite telecommunications company.

    © 2016 Canjex Publishing Ltd. All rights reserved.

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    Novra unit IDC receives radio network orders



    2016-07-11 06:51 MT - News Release


    Mr. Steven Archambault reports

    INTERNATIONAL DATACASTING ANNOUNCES NEW RADIO NETWORK AND DATA NETWORK ORDERS

    Novra Technologies Inc.'s International Datacasting Corp. has received a series of new orders including for a radio network in Asia and follow-on orders for a contractor supporting a current U.S. government network.

    Through a regional partner in Asia, IDC is providing a new STAR radio network for Bangladesh Betar, the government radio network of Bangladesh. The two-channel network includes redundant multi-channel audio encoders and multiplexors as well as four-channel STAR receivers. IDC's STAR audio product line is the world's leading radio distribution solution for networks ranging from very small and simple to very large and complex. In this particular case, a key advantage of the IDC solution is support for Very Low Symbol Rate (VLSR) operation in DVB-S2, offering the customer significant savings on satellite bandwidth and reducing operating costs.

    In addition, IDC has received follow-on orders for its IPE-4000 IP Encapsulators from a contractor supporting the Global Broadcast Service of the United States Armed Forces. The IPE-4000 is known for reliability and advanced features including data rates up to 200Mb/s, opportunistic data insertion, and support for DVB and ATSC networks. IDC is a longtime trusted supplier of key infrastructure for this network including the encryption platform and satellite receivers used in broadcast of video and data for mission-critical government applications -- in this case supporting the Army Corps of Engineers.

    Novra and IDC recently completed the merger of the two companies. Novra Technologies CEO Harris Liontas commented, "Our first few weeks as a combined company have been quite successful. It is good to see both follow-on business from current customers as well as new business coming in. We are especially pleased to add another new radio network to our customer list. It underscores IDC's global leadership in the audio distribution field."

    © 2016 Canjex Publishing Ltd. All rights reserved.

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    Novra appoints Gair COO, Archambault CFO



    2016-07-26 17:13 MT - News Release


    Mr. Harris Liontas reports

    NOVRA ANNOUNCES CHANGES TO MANAGEMENT TEAM

    Novra Technologies Inc. has made changes to its management team following its merger with International Datacasting Corp. (IDC).

    Novra's board of directors has appointed Patricia Gair to the newly defined role of chief operating officer (COO), in which she will oversee the internal operations of the company and lead special strategic initiatives. Ms. Gair holds a BSc in electrical engineering from the University of Manitoba and is also a chartered professional accountant, CMA. Prior to joining Novra, where most recently she has served as director of operations and chief financial officer, Ms. Gair held technical and leadership positions in manufacturing, engineering, software development, information technology, quality assurance and customer service at several organizations, including IBM Canada, Infocorp Computer Solutions and Continental Healthcare.

    Effective July 25, 2016, the board of directors also appointed Steven Archambault as the chief financial officer (CFO) of Novra, and he will also serve as the president and chief financial officer of Novra's wholly owned subsidiary, IDC. Mr. Archambault brings to Novra a wealth of experience in corporate finance, treasury, financial planning and analysis, mergers and acquisitions, and corporate tax. He was previously the CFO and interim chief executive officer of IDC. He is a chartered professional accountant, CA, with over 20 years of progressive experience in finance and senior leadership positions, including six years with a public company listed on the New York Stock Exchange.

    Additionally, within its IDC subsidiary, the company has taken steps to strengthen its sales and business development team. Gary Carter, previous vice-president of sales, has moved into the key role of vice-president, business development and products, where he will build on his history as a strategic contributor to the success of IDC's products and customers over the past 28 years.

    IDC is also pleased to announce that Diana Cantu has joined the company as its new vice-president, corporate marketing and sales. Ms. Cantu will be responsible for leading the marketing and sales team for the Novra group of companies. Ms. Cantu previously worked at IDC for more than 10 years developing its Latin America market and later leading IDC's work in the United States. She was instrumental in expanding IDC's business in digital cinema, IPTV, broadcast radio and television, distance learning, and government applications. She also brings extensive experience in business development for other organizations within this and adjacent markets.

    Ms. Cantu commented: "I'm excited to be back at IDC, we have an excellent core group of people, solid technology and an impressive customer base. This is an exciting moment in our industry as new applications for satellite and hybrid networks move to the fore. It's a great time to be in the content distribution business."

    These appointments are expected to provide a sound foundation for a seamless merger integration of the two companies while continuing with uninterrupted service to global customers.

    "I'm very pleased that we have made these changes to augment our already-strong leadership team and position Novra well for the future. Patti is an outstanding leader, who has demonstrated time and again her strength in operations and dedication to excellence. Steve has strong financial expertise and did an exceptional job of steering IDC through the recent merger. Diana brings a wealth of industry experience, market insights and a proven track record of growing business. Together with our entire team, we look forward to doing great things," said Harris Liontas, president and chief executive officer.

    We seek Safe Harbor.

    © 2016 Canjex Publishing Ltd. All rights reserved.

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    Novra's IDC signs multimillion-dollar contract



    2016-08-04 15:09 MT - News Release


    Mr. Steven Archambault reports

    INTERNATIONAL DATACASTING WINS MULTI-MILLION DOLLAR CONTRACT FOR MAJOR NATIONAL RADIO NETWORK

    International Datacasting Corp. has entered into a multimillion-dollar contract with a major North American radio broadcast network for its next-generation audio system. The customer declined to be named due to the organization's long-standing policy.

    The contract includes products and services for two geographically diverse uplinks/headends supporting secure distribution of 188 audio channels and 1,000 receivers. The system incorporates audio encoders, network management, encryption and IDC's targeted content distribution platform. The new network is scheduled to roll out this calendar year.

    © 2016 Canjex Publishing Ltd. All rights reserved.

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    Novra Tech unit's initial orders total more than $3M



    2016-08-05 10:29 MT - News Release


    Mr. Steven Archambault reports

    INTERNATIONAL DATACASTING ANNOUNCES $3 MILLION IN ORDERS RELATED TO RECENT RADIO NETWORK CONTRACT

    International Datacasting Corp., part of the Novra Technologies Inc. group of companies, has received the purchase orders for the contract reported in yesterday's news release titled, "International Datacasting wins multimillion-dollar contract for major national radio network."The initial orders are in excess of $3-million, with shipments scheduled to commence late in the third quarter. The term of the contract begins immediately and up to July 24, 2017.

    The orders include head-end equipment and satellite receivers, as well as related network management, encryption and IDC's targeted content distribution system. IDC expects to complete delivery on these orders over the next six months.

    IDC president and chief financial officer Steven Archambault said: "It is great to have these orders in hand. Our team is looking forward to delivering on schedule and with the high quality for which we are known industry wide."

    We seek Safe Harbor.

    © 2016 Canjex Publishing Ltd. All rights reserved.

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