ZTEST Announces Fourth Strategic Partnership
TORONTO, ONTARIO--ZTEST Electronics Inc., ZTST - CDN, ("ZTEST") is pleased to announce a new Strategic Partnership agreement with Gametele Systems Inc. ("Gametele") of Oakville, Ontario.
ZTEST was originally retained by the principals of Gametele to develop a proprietary client-server application to validate sales from multiple remote vendor sites as well as to provide inventory management and accounts receivable information. Gametele's initial product application is aimed at the gaming industry. It will allow operators to organize televised gaming events for in-home participation. Gametele has attracted interest from north American and international prospective operators.
As a consideration for successful completion of this project to the pilot stage, ZTEST has received an 18.40 percent common share ownership position, together with design fees of $250,000. These design fees are convertible into additional common shares, which if converted, would result in ZTEST owning a 49.00 percent common share ownership in Gametele, on a fully diluted basis. In addition to equity ownership in Gametele, ZTEST also has the exclusive manufacturing rights to all Gametele products.
ZTEST's other three (3) Strategic Partners, Nexsys Commtech International Inc. from Waterloo, Ontario, UNIQRYPT Technologies Inc. from Mississauga, Ontario and Chessen U.V. Systems Inc. also from Mississauga, Ontario, continue to make progress in the development and marketing of their respective products. It is anticipated that ZTEST's exclusive manufacturing arrangements with these strategic partners will continue to result in further revenue and profit growth in the coming quarters.
In addition to its proprietary line of Automatic Test Equipment, ZTEST offers Strategic Partner services in electronic design, development and manufacturing to emerging high tech companies in return for long-term manufacturing contracts, fees for services and equity positions.