Valdor Technology International Inc【VTI】株式ニュース

Report-VALDOR TECHNOLOGY INTERNATIONAL INC.
Management’s Discussion & Analysis
Six Months Ended June 30, 2015
(Stated in U.S. Dollars)

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Three months ended June 30, 2015
During the three months ended June 30, 2015 the Company had a comprehensive loss of $350,946 as
compared to a comprehensive loss of $785,189 for the corresponding three months ended June 30, 2014. The
revenues increased to $273,700 as compared to $201,274 for the corresponding three months ended June 30, 2014. This revenue encompasses $195,584 from the Niagara Streaming Media division and $78,116 from the
Valdor Fiber Optics division. Total expenses for the period were $499,624 as compared to $895,453 for the
corresponding three months ended June 30, 2014. The most notable changes from the previous period were
increases in amortization, interest and accretion offset by decreases in consulting fees and salaries, wages and
benefits. The Company’s directors and consultants were actively involved with working on the private
placement financing and reviewing new business ventures. The stock-based compensation charge recognizes
the portion of the fair values of vested options attributable to the period using the Black-Scholes valuation
model. The fair values of options are influenced by such parameters as stock price volatility and current
interest rates incorporated into the valuation model. Stock-based compensation is a non-cash expenditure.
The Company financed its operations through short term loans during the period.

Six months ended June 30, 2015
During the six months ended June 30, 2015 the Company had a comprehensive loss of $1,152,103 as
compared to a comprehensive loss of $1,158,720 for the corresponding six months ended June 30, 2014. The
revenues increased to $503,699 as compared to $446,855 for the corresponding six months ended June 30, 2014. This revenue encompasses $386,910 from the Niagara Streaming Media division and $116,789 from the
Valdor Fiber Optics division. Total expenses for the period were $1,448,389 as compared to $1,449,831 for
the corresponding three months ended June 30, 2014. The most notable changes from the previous period
were increases in amortization, interest and accretion, marketing and salaries, wages and benefits offset by
decreases in consulting fees and legal and accounting fees. The Company’s directors and consultants were
also actively involved with working on the private placement financing and reviewing new business ventures.
The stock-based compensation charge recognizes the portion of the fair values of vested options attributable to
the period using the Black-Scholes valuation model. The fair values of options are influenced by such
parameters as stock price volatility and current interest rates incorporated into the valuation model. Stock- based compensation is a non-cash expenditure.
The Company financed its operations through private placements and short term loans during the period.

OUTSTANDING SHARE DATA
As at August 31, 2015
Common Shares issued 112,042,220
Share purchase options 17,525,000
Share purchase warrants 67,039,500

SUBSEQUENT EVENT
The Company issued 100,000 common shares pursuant to the exercise of share purchase warrants at $0.10 per
share for proceeds of $10,000.