VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 12, 2014) - 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 www.sedar.com.