On Tuesday, Raystream Inc., formerly known as Interdom Corp., announced that they changed their name and trading symbol to reflect the Company’s new focus on providing HD online video services to other businesses. Raystream recently acquired Raystream Gmbh. They are a German company that developed a proprietary video-compression technology that can reduce the bandwidth required to stream HD video online by up to 70 percent.
Recently, Raystream filed their quarterly report for the quarter ended July 31, 2011 with the Securities and Exchange Commission (SEC). They reported total assets of $1,975,183, which included total cash of $1,969,350. A recent third party investment injected this cash into Raystream (disclosed on Raystream’s Form 8-K filed with the SEC on July 21, 2011). Furthermore, as disclosed on Raystream’s Form 8-K filed with the SEC on September 23, 2011, the debenture holder chose to convert a $2,000,000 debenture that it held with Raystream. Therefore, this reduced Raystream’s total liabilities by this amount, leaving Raystream with minimal liabilities and a very strong balance sheet.
Mr. Brian Petersen, Raystream’s President and Chief Executive Officer, said, “This is a very exciting time for our company. We are in an extremely positive cash position. The recent restructuring allows us to bring our video compression technology to market and to begin to earn revenues, adding value to our company, and our shareholders. Online HD videos present an amazing market opportunity for businesses, but bandwidth costs and limitations have been major obstacles in the past. Raystream easily and instantly removes those barriers. This translates into substantial savings in bandwidth cost for businesses, and a vastly improved experience for the viewer. Our disruptive technology could forever alter the way business is done online.”
Raystream is bringing their proprietary video compression technology to consumers and businesses around the world. This technology significantly decreases bandwidth costs by reducing the file size of HD videos so they can undergo streaming online without buffering or stopping, with no decrease in video quality or clarity. The Company’s technology puts high definition (HD) video in the reach of almost every Internet user globally. Raystream enables high definition (720p and 1080p) video over standard Internet connections via their full-service online video platform.
For more information visit: www.raystream.com
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