INVA ( Inova Technology Inc) .0036- This OTCQB stock is just starting to garner investor interest after the company released promising news yesterday on the completion of $900,000 in a major contract with Lowe's. Furthermore the company also announced an additional 15 contracts in which the projects have been backlogged due to high demand by customers which certainly shows us that the company is poised for tremendous growth! INVA is a stock which traded just over .09 cents over a year ago and could very well see a significant rally as the stock attempts a major reversal of up to .03 to .05 cents range or better in the coming weeks ahead. The news released yesterday can be seen below.
LAS VEGAS, April 22, Apr 22, 2013 (GLOBE NEWSWIRE via COMTEX) -- Inova Technology (OTCBB:
Inova subsidiary, Desert Communications, has built and established a long relationship with Lowe's Market, a large supermarket chain headquartered in Littlefield, TX. Desert has completed network solutions projects for more than 30 different store locations throughout Texas and New Mexico. Lowe's Market recently acquired approximately 55 stores, making their total footprint 147 grocery stores throughout Texas, New Mexico and Colorado. As the new locations become remodeled and needs are assessed Desert will be involved in the infrastructure upgrades.
Inova CEO, Adam Radly, said, "We look forward to doing more projects for Lowes. The award and completion of these projects is validation of our ability to deliver enterprise network solutions to customers of all sizes. We are also looking forward to extending our solid track record in government projects to corporate projects."
Mr Radly also said that, "We are working through our backlog of network solutions contracts as quickly as possible. We have also started providing much more frequent updates regarding the commencement and completion of projects as we proceed."
Inova also launched its new website (www.Inovatechnology.com). Mr. Radly said, "The new site is much more attractive than the old site but, more importantly, it provides more detailed updates about our projects and will continue to do so on an ongoing basis."
Mr. Radly said, "We also expect to be able to provide an update regarding our new backlog in the near future."
The majority of the projects in the current backlog are network solutions projects for government customers in the Texas area. The backlog includes more than 15 customers and consists of a combination of both new and previous customers. The larger projects are network solutions projects for Ft Worth and Dallas School Districts. These projects do not represent all of Inova's revenue for any given period. They only reflect a portion of the revenue generated by Desert Communications and exclude revenue from its other subsidiary, Trakkers.
About Inova Technology
Inova Technology, Inc. (INVA) is an enterprise level Information Technology solutions provider specializing in providing proprietary RFID solutions, wireless networking, storage and security technology solutions and IT professional services. For more information please visit the company website at: http://www.inovatechnology.com.
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: Except for historical information, the forward-looking matters discussed in this news release are subject to certain risks and uncertainties which could cause the Company's actual results and financial condition to differ materially from those anticipated by the forward-looking statements including, but not limited to, the Company's liquidity and the ability to obtain financing, the timing of regulatory approvals, uncertainties related to corporate partners or third-parties, product liability, the dependence on third parties for manufacturing and marketing, patent risk, copyright risk, competition, and the early stage of products being marketed or under development, as well as other risks indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events.
CONTACT: Adam Radly
info@inovatechnology.com
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