Inova Awarded A New $1.3 Million Contract; Total Backlog Over $20 Million
LAS VEGAS, Jan. 26, 2011 (GLOBE NEWSWIRE) -- Inova Technology (OTCBB:INVA), through its wholly owned subsidiary, Desert Communications, has been awarded funding for a network solutions project for Abilene Independent School District. The project involves installing various network solutions for 20 schools and is valued at $1,327,722.50.
"This is an Erate 13 project. Now that the project has been funded we will work with the school district to schedule and implement the project as soon as possible," said CEO, Mr. Adam Radly.
Mr Radly also said, "The company has also bid on numerous additional projects and we are expecting to be informed of the results of those bids during February and March."The company receives projects in two stages. The first stage involves being awarded the project. The second stage involves getting approved funding for the project. Projects that form part of the company's backlog are projects that are both awarded and funded. About Inova Technology Inova Technology, Inc. (OTCBB: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. Our objective is to implement and optimize solutions for our clients with best of breed technology and the best possible service. 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.
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