LAS VEGAS, July 9, 2013 /PRNewswire/ -- Raystream, Inc.
(OTCPK: RAYS), a developer of High Definition video compression
cloud-based software application is moving forward to bring the
Company's financial filings current and entertaining business
opportunities for generating new revenue streams.
Delmar Janovec, Raystream's new
CEO, comments, "Brent Crouch, newly
appointed CFO, and I came on board as the newly appointed Officers
and Directors of Raystream on May 24,
2013. Since that time we have been in discussions with the
major shareholders and major debt-note holders to develop a plan to
bring the filings current, evaluate the current status of the High
Definition video compression cloud-based software application, and
to review new business opportunities that would add to the current
operations of the Company.
Since the last quarterly filing for the period ended
July 31, 2012, the Company has
maintained limited operations and has continued to move forward
with the completion of its High Definition video compression
cloud-based software application. By maintaining its limited
operations, and its primary asset (Intellectual Property valued at
$1,000,000), the Company is not a
shell. Based on the amount of development and investments by the
Company, and with the continuing high demand for data storage,
management believes completing the final stages of the software
technology is in the best interests of the Company and its
shareholders. Discussions with the software developer
revealed the project is 98 percent completed."
Janovec further stated, "There is a lot to be accomplished to
bring the filings current and our goal is to have this process
completed and filed with the appropriate agencies within 75
days."
ABOUT RAYSTREAM:
Raystream, Inc. (OTCPK: RAYS) is a developer of High Definition
video compression cloud-based software technology that will have
the ability to shrink the storage requirements for HD video files
substantially whereby decreasing bandwidth and data storage
costs.
The Company encourages the public to read the above information
in conjunction with its year-end statements, Form 10-K, for
April 30, 2011-2012, and the
quarterly statements filed in calendar year 2012, at
www.pinksheets.com.
The information contained in this press release may include
forward-looking statements. Forward-looking statements usually
contain the words "may," "could," "possibly," "feel," "estimate,"
"anticipate," "believe," "expect," or similar expressions that
involve risks and uncertainties. These risks and uncertainties
include the Company's uncertain profitability, need for significant
capital, uncertainty concerning market acceptance of its services,
competition, limited service facilities, dependence on
technological developments and protection of its intellectual
property. The Company's actual results could differ materially from
those discussed herein.
Contact:
Raystream, Inc.
Delmar Janovec
Investor Relations
Telephone: (702) 214-4249
Email: delmar@raystreamtechnologies.com
Website: http://www.raystreamtechnologies.com
SOURCE Raystream, Inc.