Coinstar (CSTR) is a leading, publicly-held provider of automated retail solutions that offers products and services to benefit consumers and drive incremental retail traffic and revenue for retailers. Offerings include automated retail include (Red Box) DVD and Coin Services businesses.
DVD Rentals
CSTR offers self-service DVD rentals through 28,500 Red Box kiosks in 24,900 locations where consumers can rent or purchase movies. CSTR’s DVD kiosks are installed primarily at leading grocery stores, mass merchants, drug stores, restaurants, and convenience stores.
DVD kiosks supply the functionality of a traditional video rental store, yet typically occupy an area of less than ten square feet. Consumers use a touch screen to select their DVD, swipe a valid credit or debit card, and receive their movie(s). The process is designed to be fast, efficient and fully automated with no membership fees. DVD services revenue is generated primarily through fees charged to rent a DVD. In retailers with high performing DVD kiosks, CSTR may add another kiosk to drive additional revenue and provide a broader product offering.
Coin Services
CSTR offers self-service coin-counting services. CSTR owns and services all of its coin-counting kiosks, providing a convenient and trouble-free service to retailers. CSTR owns and operates more than 18,900 coin-counting machines in the United States, Canada, Puerto Rico, Ireland, and the United Kingdom (approximately 12,300 of which offer a variety of prepaid cards and e-certificates to consumers). Coin-counting revenue is generated through transaction fees from CSTR’s consumers and retailers.
Source: CSTR 10Q for the Sept 2010 quarter, filed Oct 28, 2010
http://www.sec.gov/Archives/edgar/data/941604/000119312510239751/d10q.htm
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Monday, December 27, 2010
Tuesday, December 14, 2010
AVT Releases New Touch Screen Vending Machines With Smart Technology
Innovative Displays Allow Operators to Meet New FDA Requirements
CORONA, CA--(Marketwire - 12/14/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com).
AVT, Inc. showed off their new, proprietary vending technology with touch screen interfaces, which displays nutritional information in accordance with recent changes in compliance laws.
The Food and Drug Administration (FDA) recently issued new regulations -- titled FDA Section 4205 -- that call for mandatory disclosure in close proximity to each article of food -- showing the number of calories contained in the article (unless a prospective purchaser is able to examine the Nutrition Facts Panel before purchasing the article), or visible nutrition information provided at the point of purchase.
The new AVT designed systems contain a breakthrough interactive display with a bright, user-friendly touch pad, which provides all nutritional information in an easy to read format.
AVT's proprietary Smart Technology is also included in the new systems. This unique suite of advanced systems, hardware and software allows owners and operators to remotely track sales, spot trends, and receive customizable notifications and alerts.
"These new systems are truly the state-of-the-art in automated retailing and vending," states Shannon Illingworth, founder of AVT. "Tech-savvy people who love the Apple iPad or iPhone will appreciate our styling, innovation, technology, and user-friendly features."
For more information on AVT and how their new systems give consumers better insight into the content of their food and beverage choices, and provide owners and operators with regulation compliance and trend analysis, visit AVT's Website at: http://www.avtinconline.com/avttsarticle.html, or call James Winsor, Chief Executive Officer, at 951-737-1057.
AVT, Inc. is a leading developer of automated and self-service retailing systems, and is the innovator of VMS and TSM technologies that have become the standard for the industry.
AVT's stock is traded through the Pinksheet National Market System. Ticker Symbol: AVTC.PK
For more information, visit www.avtinconline.com or www.autoretail.com
CORONA, CA--(Marketwire - 12/14/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com).
AVT, Inc. showed off their new, proprietary vending technology with touch screen interfaces, which displays nutritional information in accordance with recent changes in compliance laws.
The Food and Drug Administration (FDA) recently issued new regulations -- titled FDA Section 4205 -- that call for mandatory disclosure in close proximity to each article of food -- showing the number of calories contained in the article (unless a prospective purchaser is able to examine the Nutrition Facts Panel before purchasing the article), or visible nutrition information provided at the point of purchase.
The new AVT designed systems contain a breakthrough interactive display with a bright, user-friendly touch pad, which provides all nutritional information in an easy to read format.
AVT's proprietary Smart Technology is also included in the new systems. This unique suite of advanced systems, hardware and software allows owners and operators to remotely track sales, spot trends, and receive customizable notifications and alerts.
"These new systems are truly the state-of-the-art in automated retailing and vending," states Shannon Illingworth, founder of AVT. "Tech-savvy people who love the Apple iPad or iPhone will appreciate our styling, innovation, technology, and user-friendly features."
For more information on AVT and how their new systems give consumers better insight into the content of their food and beverage choices, and provide owners and operators with regulation compliance and trend analysis, visit AVT's Website at: http://www.avtinconline.com/avttsarticle.html, or call James Winsor, Chief Executive Officer, at 951-737-1057.
AVT, Inc. is a leading developer of automated and self-service retailing systems, and is the innovator of VMS and TSM technologies that have become the standard for the industry.
AVT's stock is traded through the Pinksheet National Market System. Ticker Symbol: AVTC.PK
For more information, visit www.avtinconline.com or www.autoretail.com
Friday, December 3, 2010
.AVT Announces Roll Out of New Kiosk to Securely Provide Movies, Music and TV Shows From a Self-Serve Kiosk Direct to Portable Flash Drives
CORONA, CA--(Marketwire - 12/02/10) - AVT, Inc. (Pinksheets:AVTC - News) (Formally Automated Vending Technologies) announced today that their new kiosks that were developed for Flix On Stix to securely deliver digital entertainment content, will begin rolling out to thousands of locations within the next 90 days.
Flix On Stix has developed a revolutionary encryption technology and interface that allows consumers to download movies, music, and television programs from the AVT designed self-serve kiosk, direct to a portable memory stick. In addition to offering an almost limitless array of titles, this unique system also provides first-run movies well before they are available on DVD or Blu-ray, or through internet subscription services.
The Flix On Stix kiosk utilizes a secure internet connection and proprietary download encryption technology to transfer content onto any portable flash drive in a matter of seconds. The digital content can be viewed on any PC or Mac, or through a set-top box to a television.
The engineers at Flix On Stix worked with AVT to design a compact, yet attractive kiosk, which allows for easy placement in virtually any location. The unit's graphics are enticing and encourage consumer use.
AVT founder Shannon Illingworth stated, "We are thrilled to have been selected the manufacturer of choice by Flix On Stix. We have worked closely with them in the design and development stage, and are now gearing up to meet their rollout schedule."
For more information on AVT, contact James Winsor, Chief Executive Officer, at (951) 737-1057, or visit the website at www.avtinconline.com.
Flix On Stix has developed a revolutionary encryption technology and interface that allows consumers to download movies, music, and television programs from the AVT designed self-serve kiosk, direct to a portable memory stick. In addition to offering an almost limitless array of titles, this unique system also provides first-run movies well before they are available on DVD or Blu-ray, or through internet subscription services.
The Flix On Stix kiosk utilizes a secure internet connection and proprietary download encryption technology to transfer content onto any portable flash drive in a matter of seconds. The digital content can be viewed on any PC or Mac, or through a set-top box to a television.
The engineers at Flix On Stix worked with AVT to design a compact, yet attractive kiosk, which allows for easy placement in virtually any location. The unit's graphics are enticing and encourage consumer use.
AVT founder Shannon Illingworth stated, "We are thrilled to have been selected the manufacturer of choice by Flix On Stix. We have worked closely with them in the design and development stage, and are now gearing up to meet their rollout schedule."
For more information on AVT, contact James Winsor, Chief Executive Officer, at (951) 737-1057, or visit the website at www.avtinconline.com.
Form 8-K/A for AVT, INC.
1-Dec-2010
Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant
On or about October 5, 2010, the Board of Directors of AVT, Inc., a Nevada corporation (the "Company"), received notice that its primary auditor, Larry O'Donnell, CPA, P.C. ("O'Donnell"), had resigned.
On October 20, 2010, the Company approved De Joya Griffith & Company, LLC, Certified Public Accountants & Consultants, 2580 Anthem Village Drive, Henderson, Nevada 89052 ("De Joya"), as the Company's primary auditor.
On or about November 8, 2010, the Company sent De Joya a letter advising De Joya that De Joya had been dismissed as the Company primary auditor.
There is a dispute between the Company and De Joya as to whether during the Company's two most recent fiscal years and any subsequent interim period preceding the dismissal of De Joya, the Company was made aware by De Joya of the following disagreements on accounting principles which were not resolved to the satisfaction of De Joya: application of accrual method accounting instead of cash basis accounting; recognition of revenue prior to meeting the criteria specified in SAB No. 104; accounting for revenue from service contracts; recognition of goodwill in connection with purchase software; adjustments to inventory recorded as depreciation expense; accounting for costs of internally developed software to be sold under ASC 985-20; accounting for common stock issued for interest; accounting for par value of common stock outstanding; accounting for investment in AC Mexican Food, Inc.
De Joya did not make any reports on our financial statements.
On November 8, 2010, the Board of Directors approved Malcolm L. Pollard, Inc., 4845 W. Lake Road, #119, Erie, PA 16505 ("Pollard") as the Company's primary auditor. During the Company's two most recent fiscal years and any subsequent interim period prior to engaging Pollard, the Company did not consult with Pollard regarding the application of accounting principle to a specific transaction, or the type of audit opinion that might be rendered on the Company financial statements, or any matter that was the subject of disagreement with our former accountant or a reportable event.
The Company has provided a copy of this disclosure to De Joya and requested that De Joya furnish the Company with a letter, within the time periods prescribed by Item 304 (a)(3) of Regulation S-K of Securities and Exchange Act of 1934, addressed to the Securities and Exchange Commission stating whether De Joya agrees with the statements made by the Company and, if not, stating the respects in which De Joya does not agree.
A copy of the former accountants' response to this Report on Form 8-K is attached hereto as Exhibit 16.1.
Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant
On or about October 5, 2010, the Board of Directors of AVT, Inc., a Nevada corporation (the "Company"), received notice that its primary auditor, Larry O'Donnell, CPA, P.C. ("O'Donnell"), had resigned.
On October 20, 2010, the Company approved De Joya Griffith & Company, LLC, Certified Public Accountants & Consultants, 2580 Anthem Village Drive, Henderson, Nevada 89052 ("De Joya"), as the Company's primary auditor.
On or about November 8, 2010, the Company sent De Joya a letter advising De Joya that De Joya had been dismissed as the Company primary auditor.
There is a dispute between the Company and De Joya as to whether during the Company's two most recent fiscal years and any subsequent interim period preceding the dismissal of De Joya, the Company was made aware by De Joya of the following disagreements on accounting principles which were not resolved to the satisfaction of De Joya: application of accrual method accounting instead of cash basis accounting; recognition of revenue prior to meeting the criteria specified in SAB No. 104; accounting for revenue from service contracts; recognition of goodwill in connection with purchase software; adjustments to inventory recorded as depreciation expense; accounting for costs of internally developed software to be sold under ASC 985-20; accounting for common stock issued for interest; accounting for par value of common stock outstanding; accounting for investment in AC Mexican Food, Inc.
De Joya did not make any reports on our financial statements.
On November 8, 2010, the Board of Directors approved Malcolm L. Pollard, Inc., 4845 W. Lake Road, #119, Erie, PA 16505 ("Pollard") as the Company's primary auditor. During the Company's two most recent fiscal years and any subsequent interim period prior to engaging Pollard, the Company did not consult with Pollard regarding the application of accounting principle to a specific transaction, or the type of audit opinion that might be rendered on the Company financial statements, or any matter that was the subject of disagreement with our former accountant or a reportable event.
The Company has provided a copy of this disclosure to De Joya and requested that De Joya furnish the Company with a letter, within the time periods prescribed by Item 304 (a)(3) of Regulation S-K of Securities and Exchange Act of 1934, addressed to the Securities and Exchange Commission stating whether De Joya agrees with the statements made by the Company and, if not, stating the respects in which De Joya does not agree.
A copy of the former accountants' response to this Report on Form 8-K is attached hereto as Exhibit 16.1.
Monday, November 22, 2010
Form 8-K for AVT, INC.
22-Nov-2010
Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant
On or about October 5, 2010, the Board of Directors of AVT, Inc., a Nevada corporation (the "Company"), received notice that its primary auditor, Larry O'Donnell, CPA, P.C ("O'Donnell"), had resigned.
On October 20, 2010, the Board of Directors approved De Joya Griffith & Company, LLC, Certified Public Accountants & Consultants, 2580 Anthem Village Drive, Henderson, Nevada 89052 ("De Joya"), as the Corporation's primary auditor.
On or about November 8, 2010, the Board of Directors dismissed De Joya as the Company primary auditor.
During the Company's two most recent fiscal years and any subsequent interim period preceding the dismissal of De Joya, there were no reportable events or disagreements with De Joya on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of De Joya, would have caused the Company to make reference to the subject matter of the disagreement(s) in connection with this report.
De Joya did not make any reports on our financial statements.
On November 8, 2010, the Board of Directors approved Malcolm L. Pollard, Inc., 4845 W. Lake Road, #119, Erie, PA 16505 ("Pollard") as the Company's primary auditor. During the Company's two most recent fiscal years and any subsequent interim period prior to engaging Pollard, the Company did not consult with Pollard regarding the application of accounting principle to a specific transaction, or the type of audit opinion that might be rendered on the Company financial statements, or any matter that was the subject of disagreement with our former accountant or a reportable event.
The Company has provided a copy of this disclosure to De Joya and requested that De Joya furnish the Company with a letter, within the time periods prescribed by Item 304 (a)(3) of Regulation S-K of Securities and Exchange Act of 1934, addressed to the Securities and Exchange Commission stating whether De Joya agrees with the statements made by the Company and, if not, stating the respects in which De Joya does not agree.
A copy of the former accountants' response to this Report on Form 8-K is attached hereto as Exhibit 16.1.
Changes in Registrant's Certifying Accountant
Item 4.01 Changes in Registrant's Certifying Accountant
On or about October 5, 2010, the Board of Directors of AVT, Inc., a Nevada corporation (the "Company"), received notice that its primary auditor, Larry O'Donnell, CPA, P.C ("O'Donnell"), had resigned.
On October 20, 2010, the Board of Directors approved De Joya Griffith & Company, LLC, Certified Public Accountants & Consultants, 2580 Anthem Village Drive, Henderson, Nevada 89052 ("De Joya"), as the Corporation's primary auditor.
On or about November 8, 2010, the Board of Directors dismissed De Joya as the Company primary auditor.
During the Company's two most recent fiscal years and any subsequent interim period preceding the dismissal of De Joya, there were no reportable events or disagreements with De Joya on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreement(s), if not resolved to the satisfaction of De Joya, would have caused the Company to make reference to the subject matter of the disagreement(s) in connection with this report.
De Joya did not make any reports on our financial statements.
On November 8, 2010, the Board of Directors approved Malcolm L. Pollard, Inc., 4845 W. Lake Road, #119, Erie, PA 16505 ("Pollard") as the Company's primary auditor. During the Company's two most recent fiscal years and any subsequent interim period prior to engaging Pollard, the Company did not consult with Pollard regarding the application of accounting principle to a specific transaction, or the type of audit opinion that might be rendered on the Company financial statements, or any matter that was the subject of disagreement with our former accountant or a reportable event.
The Company has provided a copy of this disclosure to De Joya and requested that De Joya furnish the Company with a letter, within the time periods prescribed by Item 304 (a)(3) of Regulation S-K of Securities and Exchange Act of 1934, addressed to the Securities and Exchange Commission stating whether De Joya agrees with the statements made by the Company and, if not, stating the respects in which De Joya does not agree.
A copy of the former accountants' response to this Report on Form 8-K is attached hereto as Exhibit 16.1.
Tuesday, November 9, 2010
AVT Featured on Fox Business News
Company Founder Shannon Illingworth Interviewed
CORONA, CA--(Marketwire - 11/09/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com).
Shannon Illingworth, the founder of AVT, Inc., was featured on a special segment of Fox Business News about emerging companies with significant growth potential. The program was broadcast from the International FSX Conference in Phoenix, Arizona, where AVT was a guest presenter. Illingworth was asked to be on the program to discuss the future growth plans for AVT, and provide insight into some of the new technologies, programs, and products the company is developing.
AVT is a leader in the Automated Retailing Industry, and recently announced a new product line-up that includes ultra-high end systems that can be used in malls, retail stores, airports, college campuses, hotels and cosmetic departments. These units feature exotic materials, beautiful woods and fashion-forward architecture, and come with a unique robotic arm that dispenses up to 150 items of all types, from cell phone to swimsuits, cameras to cologne.
AVT is also at the forefront of Interactive Advertising, and has feature integrated LCD screens in their new product line-up that can be programmed to play advertisements, offer coupons, and reach consumers right at the point of purchase.
The company plans on rolling out thousands of new IVIDS units in the next 12 months.
"Advertisers are looking at the increasing costs and diminishing return on traditional advertising mediums, such as radio, television, newspapers and magazines,'' Illingworth stated. ''Through our proprietary IVIDS system (Interactive Video Downloading and Product Dispensing System), advertisers will have the opportunity to place ads throughout our network -- either as video commercials or as text messages -- and reach consumers at the critical point of making a purchasing decision."
Illingworth was interviewed by Steve Crowley, the host of American Scene Radio and former Money Editor at ABC's Good Morning America. Crowley is one of the best financial reporters in the industry, according to Steve Forbes, publisher of Forbes Magazine. "Crowley is an excellent interviewer, which is why I say yes whenever he invites me on," Forbes commented.
To listen to the Shannon Illingworth interview, go to www.cnncapnews.com
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
CORONA, CA--(Marketwire - 11/09/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com).
Shannon Illingworth, the founder of AVT, Inc., was featured on a special segment of Fox Business News about emerging companies with significant growth potential. The program was broadcast from the International FSX Conference in Phoenix, Arizona, where AVT was a guest presenter. Illingworth was asked to be on the program to discuss the future growth plans for AVT, and provide insight into some of the new technologies, programs, and products the company is developing.
AVT is a leader in the Automated Retailing Industry, and recently announced a new product line-up that includes ultra-high end systems that can be used in malls, retail stores, airports, college campuses, hotels and cosmetic departments. These units feature exotic materials, beautiful woods and fashion-forward architecture, and come with a unique robotic arm that dispenses up to 150 items of all types, from cell phone to swimsuits, cameras to cologne.
AVT is also at the forefront of Interactive Advertising, and has feature integrated LCD screens in their new product line-up that can be programmed to play advertisements, offer coupons, and reach consumers right at the point of purchase.
The company plans on rolling out thousands of new IVIDS units in the next 12 months.
"Advertisers are looking at the increasing costs and diminishing return on traditional advertising mediums, such as radio, television, newspapers and magazines,'' Illingworth stated. ''Through our proprietary IVIDS system (Interactive Video Downloading and Product Dispensing System), advertisers will have the opportunity to place ads throughout our network -- either as video commercials or as text messages -- and reach consumers at the critical point of making a purchasing decision."
Illingworth was interviewed by Steve Crowley, the host of American Scene Radio and former Money Editor at ABC's Good Morning America. Crowley is one of the best financial reporters in the industry, according to Steve Forbes, publisher of Forbes Magazine. "Crowley is an excellent interviewer, which is why I say yes whenever he invites me on," Forbes commented.
To listen to the Shannon Illingworth interview, go to www.cnncapnews.com
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
Wednesday, October 20, 2010
AVT Develops New Automated Game Redemption Machine
New Kiosks Purchase Games by Nintendo, Sony PlayStation, X-Box, and Others
CORONA, CA--(Marketwire - 10/20/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, a leading innovator in the Automated Retailing Industry, announced today that they have developed the world's first automated self-serve kiosk that allows consumers to "sell" their used games for instant on-the-spot cash or credit.
Using proprietary software and technology developed in-house by the AVT engineering team, the new kiosks utilize a continuously updated web-based database to give consumers the highest possible price for their games, based on current values, supply and demand.
The customer simply places the disk into the kiosk and the system then scans the disk for flaws, condition, type, and piracy, and offers a price to "purchase" the game. The customer can elect to receive either cash or a credit to his credit or debit card.
Retailers are expressing tremendous enthusiasm about the arrival of these new units, as they can open up new avenues of revenue -- with little cost, a small footprint, and low labor requirements. AVT expects the new units to start shipping in first quarter.
AVT is one of the world's leading providers of technology-based Automated Retailing Systems, and has solutions that include everything from small kiosks to large automated environments that can enhance or replace book stores, cosmetic counters, and gift shops.
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
CORONA, CA--(Marketwire - 10/20/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, a leading innovator in the Automated Retailing Industry, announced today that they have developed the world's first automated self-serve kiosk that allows consumers to "sell" their used games for instant on-the-spot cash or credit.
Using proprietary software and technology developed in-house by the AVT engineering team, the new kiosks utilize a continuously updated web-based database to give consumers the highest possible price for their games, based on current values, supply and demand.
The customer simply places the disk into the kiosk and the system then scans the disk for flaws, condition, type, and piracy, and offers a price to "purchase" the game. The customer can elect to receive either cash or a credit to his credit or debit card.
Retailers are expressing tremendous enthusiasm about the arrival of these new units, as they can open up new avenues of revenue -- with little cost, a small footprint, and low labor requirements. AVT expects the new units to start shipping in first quarter.
AVT is one of the world's leading providers of technology-based Automated Retailing Systems, and has solutions that include everything from small kiosks to large automated environments that can enhance or replace book stores, cosmetic counters, and gift shops.
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
Thursday, September 30, 2010
AVT Expands Product Lineup With New High-End Systems
CORONA, CA--(Marketwire - 09/30/10) - AVT, Inc., (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, America's leader in Automated Retailing, announced today that they have expanded their product line to include ultra-premium self-service retail environments.
AVT has pioneered the Automated Retailing industry, by developing and integrating patent-pending Smart Technologies into systems that include acceptance of credit and debit cards for cashless payment, dynamic advertising, remote tracking, and inventory management.
These new ultra-premium products include The Airport, The Cosmetic Store, The Gas Station, The Premium Hotel, The University, and the Premium Store Front.
Several of the systems feature a revolutionary robotic arm capable of dispensing up to 150 different items in an architecturally striking environment. Using upscale materials that include glass walls and polished woods, these visually appealing units allow consumers to view the variety of chic products and marvel at the fascinating automated dispensing process.
AVT company founder, Shannon Illingworth commented, "We are excited to present our customers these innovative self-service retail systems. We can now offer any retailer, of any size, the perfect solution to add significant revenues to their bottom line through our unique unmanned retail destination systems."
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
AVT, America's leader in Automated Retailing, announced today that they have expanded their product line to include ultra-premium self-service retail environments.
AVT has pioneered the Automated Retailing industry, by developing and integrating patent-pending Smart Technologies into systems that include acceptance of credit and debit cards for cashless payment, dynamic advertising, remote tracking, and inventory management.
These new ultra-premium products include The Airport, The Cosmetic Store, The Gas Station, The Premium Hotel, The University, and the Premium Store Front.
Several of the systems feature a revolutionary robotic arm capable of dispensing up to 150 different items in an architecturally striking environment. Using upscale materials that include glass walls and polished woods, these visually appealing units allow consumers to view the variety of chic products and marvel at the fascinating automated dispensing process.
AVT company founder, Shannon Illingworth commented, "We are excited to present our customers these innovative self-service retail systems. We can now offer any retailer, of any size, the perfect solution to add significant revenues to their bottom line through our unique unmanned retail destination systems."
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
Form 10-Q/A for AVT, INC.
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Form 10-Q/A for AVT, INC.
--------------------------------------------------------------------------------
30-Sep-2010
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION, ANALYSIS OF FINANCIAL CONDITION
ANDPLAN OF OPERATIONS
The following discussion and analysis should be read in conjunction with our audited consolidated financial statements and related notes included in this registration statement. This registration statement contains "forward-looking statements." The statements contained in this report that are not historic in nature, particularly those that utilize terminology such as "may," "will," "should," "expects," "anticipates," "estimates," "believes," or "plans" or comparable terminology are forward-looking statements based on current expectations and assumptions.
Various risks and uncertainties could cause actual results to differ materially from those expressed in forward-looking statements. Factors that could cause actual results to differ from expectations include, but are not limited to, those set forth under the section "Risk Factors" set forth in this registration statement.
The forward-looking events discussed in this registration statement, the documents to which we refer you and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. For these statements, we claim the protection of the "bespeaks caution" doctrine. All forward-looking statements in this document are based on information currently available to us as of the date of this report, and we assume no obligation to update any forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Intangible asset valuation is a methodical and detailed process that requires the complete understanding of our business, our core competencies and the intangible asset's impact upon our business. We analyze the future income stream associated with the specific asset, the market price of comparable assets, and the current cost to re-create or duplicate an asset.
THE COMPANY
AVT, Inc. is a public company. Our common stock is quoted on the Pink Sheets in the over-the-counter market.
Our primary focus is on the design and manufacture of technology based vending and product dispensing systems which utilize an inventive approach on development, integration of technology, remote management and advertising media. AVT's designs are innovative in that our systems exploit the use of integrated PCs, having internet connectivity among a variety of other components that work in concert with the PC such as, printers, credit card readers, wireless devices, RF modules and just about any peripheral that is capable of connecting to a PC. As a design manufacture, creator of specialty application software and integrator of technology, our products define the cutting edge of the vending and dispensing industry and position us as a leader and industry innovator.
We are also a vending operator having approximately 1,000 vending systems throughout the Los Angeles, Orange and Riverside, California Counties. It is our vending operation experience over the past years that add to the distinctive advantage and overall success as a manufacture and leader of technology based vending solutions. Our executive offices, engineering and manufacturing facility and warehouse are located at 341 Bonnie Circle, Suite 102, Corona, CA 92880. Our telephone number is (951) 737-1057.
We also own and operate a Mexican fast food restaurant, known as AC Mexican Food, Inc. dba, Jalapenos. The restaurant is located in a food court of a retail mall at 20532 El Toro Road, #112, Mission Viejo, CA 92692. The restaurant is a typical Mexican fast food restaurant that operates from mid morning through late evening with the majority of its business being lunch and dinner patrons.
We were originally incorporated under the laws of the State of Delaware on February 25, 1969 as Infodex, Incorporated. In October, 2005, we acquired Automated Vending Technologies, Inc., a Nevada corporation and began focusing our business on vending operations. In December, 2006 we merged our operating wholly owned subsidiary into the parent company and in January of 2008, we changed our state of domicile to the State of Nevada and renamed the company to "AVT, Inc." We operate in the State of California as "AVT Vending, Inc."
THE BUSINESS
AVT, Inc. is an innovative developer, manufacturer and vending operator of technology based vending and product dispensing solutions and equipment that utilize specifically developed patent pending application software developed at and by AVT's software team. We currently employ a workforce of approximately 40 people and services approximately 300 commercial and government vending accounts in Southern California. We design our systems to utilize our patent pending technologies and AVT developed application software to drive our vending innovations which are in various stages of development and deployment. AVT's technology staff ranges from electrical and mechanical engineers to software developers, programmers and IT specialists thereby enabling us to design and control all aspects of our unique products while keeping the "edge" on all of our developed products.
Our business currently focuses on the following:
� Design, development and manufacturing of the RAM 4000 vending machine, a refrigerated beverage/snack combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing of the RAM 5000 vending machine, a high capacity non-refrigerated snack/chip/pastry combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing an attractive, built-in, secure access vending cabinet for hotels that do not have on-site food service. Our AEM� cabinet incorporates patent pending touch-screen to vend or TSV� which replaces both stand-alone machines and in-room locked mini-fridges while providing controlled access and a range of direct customer billing options.
� AVT has developed a variety of customized 'high end" PC based product dispensing systems designed to meet the needs of customers looking to dispense specific products or branded products. Most of these customized products utilize application software developed by AVT's software team to give the unique intuitive operation expected by the customer.
� Many of our custom dispensing systems are derivatives of the AVT RAM 4000 or 5000 base housing having touch screens, front panels and vinyl wrapped housings which are unique or customized to end customer's needs for dispensing "branded" products. For additional attention or attraction, many of the system include large color digital signage. These systems allow a variety of AVT designed technologies to be integrated into the system to meet specific customer needs for a custom dispensing system. Our current high end product dispensing includes the Ivend, 24Hr. Vend Mart, and Tech-Store.
� We developed Patent-Pending, affordable software called VMS� (Vending Management System).VMS� is application software that enables AVT designed and manufactured vending and product dispensing systems to be remotely managed by the vending owners/operators allowing them to receive real time information via the Internet. Our VMS� software also allows for the reporting of cashless payments when the system is equipped with credit card accepting hardware. Together (VMS� software and Credit Card reader) enabling patrons to use credit card or membership card for completing vending transactions.
� We have developed and maintain an application software product for digital signage called AVTI Media�. This application program is in effect a PC media player which is capable of playing all varieties of advertisements specifically designed to be played on PCs which are an integrated into and a part of our dispensing systems offered for sale. Software designed a ads which are played by the integrated PC. The advertisements displayed on highly visible, LCD displays for viewing by the general public. The LCD video panels which are also integrated into our vending systems create a new opportunity for advertisers to reach consumers in a captive setting while generating additional revenue from the sale of software based advertisements.
� TSV (Touch Screen Vending) is our primary flagship application software product. Designed and development by AVT's software staff several years ago, it is like most of today's application software, constantly maintained and in continuous refinement, support and development to remain compatible with and competitive with the ever changing PCs environment. Our TSV software product is the primary foundation for ALL of AVT's touch screen based systems like the RAM 4000 and RAM 5000 to name a few. This application software is modular by design allowing extreme flexibly by our customers allowing them to have a product that is capable providing the system owner a specific "look and Feel" coupled with dispensing their own specific products via the customizable GUI interface.
� Custom Application Software has become one of our principal products and source of revenue generation as well as becoming tangible assets of AVT, Inc. Many of our customers will request a specific sequence of touch screen based pages that allow a user to intuitively navigate through a complete transaction. These screens are defined as the customers "story board" and are in many cases the foundation of a customized sales of our product dispensing systems as it provides our customer with the means of having a low cost method to brand, expand and market their product. All of our customized software projects use a blend of other AVT's developed software IP (intellectual Property) products to complete the project. In example, our software team will create a custom .dll (Direct Library Link) that will interface with or use parts of AVT's TSV or AVTi Media modules (or other) thereby creating a custom software product that is then licensed to the customer buying our dispensing systems. Each system AVT shops will include a paid licensee for use of the TSV, AVTI Media or other as needed.
Our goal is to be the leader in technology based vending and product dispensing solutions that are reflective of today's "got to have it now" consumers. Serving international vending owners and operators whose desire is to have a better experience with vending equipment. We strive to grow our business by developing superior customer solutions, adapting new technologies, and pursuing appropriate mergers and acquisitions. Our growth is dependant upon the development of new technology, the incorporation of advertisement on the vending machines, and the sales of our RAM 4000 and RAMS 5000 systems, the introduction of the next generation Product Dispensing Centers, and the development of revolutionary vending technologies.
Vending History
Vending machines had been introduced to Americans over 70 years earlier by Thomas Adams, who installed them on New York City's elevated train platforms to sell his Chicklets gum. After World War II the vending industry grew twice as fast as the gross national product, driven by three primary factors: rising labor costs made machines an attractive alternative to human laborers; technological advances in food preservation and dispensing equipment permitted service of hot meals, sandwiches, coffee, and soft drinks; and technological advances were made in money-changing equipment. Vendors targeted "captive" markets in factories, offices, schools, and other institutions--a huge market with plenty of potential for growth and competition. The vending industry had achieved $2.5 billion in annual sales by 1960, and with statistics showing that Americans ate one in four meals away from home, vendors and stockbrokers foresaw a fine future for vending.
The Market
The vending industry is a $42 billion domestic market as reported by The Vending Times Census of the Industry 2004. This figure represents the revenues generated by vending owners/operators and excludes office coffee and manual food service. Manual food service represents an additional $10 billion in annual demand for convenience food. Vended Food Products, which include refrigerated, frozen, can/bowl pack, and other meal items represents a $3.1 billion segment. While data on vended frozen foods is not stated specifically, industry sources including Vending Times and The Automatic Merchandiser Magazine concur that frozen food is a growth category while fresh foods are declining. Frozen food machines include ice cream machines as well as frozen entree machines that require an adjacent microwave oven to heat the item.
According to the Vending Times, there are an estimated 1.4 million vending locations throughout the United States situated in manufacturing plants, factories, offices, government buildings, schools, colleges, hospitals and other public locations. These are served by approximately 9,000 vending operators. In addition, there are approximately 52,000 hotels in the United States and 300,000 worldwide according to the American Hotel & Lodging Association (www.ahma.com). There are approximately 6,000 business-oriented hotels with more than 150 rooms, and approximately 14,000 hotels with 75 to 150 rooms. The growth rate for the overall vending market is 5% annually.
Our Products and Services
We have a family of products which are geared towards improving the experience of consumers, establishments, and operators in the convenience food, digital signage and product dispensing industry.
Our current line of products and services are described below.
Automated Express Market
We have developed and created our Automated Express Market (AEM�) system which is Controlled Access Cabinet system. These custom built wood and steel based cabinets are PC based and designated for use in specialized locations such as hotels, Inns, c-stores, malls and retail stores that are limited in the ability to effectively sell and market food, convenience items or higher priced items which are subject to pilfering. The cabinets can be merchandised to dispense more than seventy-two selections including snacks, hot meals, ice cream, alcoholic and non-alcoholic beverages as well as personal amenities such as sunscreen, toothpaste, and brushes. They can also be configured for high ticket items such as cell phones, digital cameras mp3 players personal electronic devise and more. The AEM� system gives the hotel's customers the convenience of billing directly to their room through touch screen pin technology so they do not have to carry cash or coin to make purchases. The system automatically posts the charge to the guest's account by utilizing touch screen vending (TSV�) and multi-payment capabilities. AEM� cabinets have multiple payment options built in that include touch screen payment technology, credit/debit acceptors and smart card readers. We are currently exploring opportunities with many limited service hotel chains in the U.S., a market that totals more than 50,000 establishments as well as c-stores and retail stores and shopping malls.
Media Advertising
We have developed a software product called AVTi Media� which allows for an advertising medium (player) to be added to virtually any of AVT designed systems including AEM� cabinets and all four next generation vending and product dispensing systems. By incorporating AVTI Media, we allow the consumer to view the media, advertising or hotel messaging while they make their selections. AVTi Media can generate advertising revenue for owners and operators in many settings such as conference rooms, hotel lobbies, airport terminals, restaurants, car rental outlets and surgery center waiting rooms. By having vending machines in prominent locations within major companies, the vending operator "owns" the valuable space that can be used to generate advertising revenue through the Digital TV Message Board or (DTVMB) technology. Our Vending Management System software allows for the management of machine inventory, repairs, collections and advertising through remote access. VMS� enables owner/operators to reduce costs and increase profits by enabling real time access to inventory levels, system status, machine service and daily receivables with little to no machine down time.
Vending Management System� (VMS)
Our VMS systems is another AVT developed software product that allows us to remotely view information for each machine to help plan for daily replenishment, sales statistics and alerts of systems malfunctions to operators as well as defect history for each machine by means of software error log files. This technology increases operational efficiency of vending operations and helps to prevent inventory shrinkage and skimming, both major control issues in the vending industry. A key differentiator relative to the offerings of other established players in the vending machine management space is that our VMS solution works via a DSL line cellular modem or Internet Wi-Fi and be substantially less expensive to own and operate than competing systems that do not use the internet for bi-directional transmission of vending system data.
Vend Sensing System (VSS)
We have developed and have a patent pending on our VSS product to provide a surefire solution for detecting all vended items. The VSS was developed specifically to detect that a vending type of product has dropped from one of the dispensing columns directly above the sensing system and has fallen into the customer delivery bin at the base of the vending system.
The VSS is coupled directly with the vending system control electronics in such that the VSS circuitry is disabled until the vending system control electronics has received payment. Once payment has been received and the vending system starts the dispensing process, the control electronics enables the VSS circuitry to detect product which has been dispensed and has dropped into the delivery bin below. During this sensing period, the VSS circuitry is only enabled for the empirical time period it takes to detect any one of the vendible products to fall into the delivery bin.
During the sensing period of time, the VSS circuitry uses an auto-calibrated ultrasonic beam to detect if an object of just about any size, form or shape (designed for detection of any object that can be vended) has fallen into the detectable space of the customer product delivery bin. If an object (vended product) enters the detectable vending space, the VSS circuitry detects the object and in turn sends a "detected" signal to the Control Electronics. If the VSS circuitry does not detect an object has entered the customer delivery bin space within the allotted empirical time frame, the VSS circuitry returns a command signal to the control electronics that a "no vend object detected". It is the control electronics responsibility to determine the next appropriate action to take.
This invention for product detection provides many distinct and exciting advantages over conventional detection. First and foremost, the VSS is calibrated to "look" across the entire cross-sectional area of the delivery bin. This is a primary advantage over the conventional light beam detection method. The detection system is compatible in cost to that of traditional vending detection systems. The "self calibration mode allows the system to be able to retrofit into other vending systems with minimal modification needed.
Vending Machine Manufacturing, Sales and Placements
We currently manufacture next generation refrigerated and high capacity snack machines as well as standard and customized product dispensing systems. These machines have been designed to meet or exceed our specific performance specifications and give us the ability to minimize costs traditionally associated with purchasing new equipment. The manufacturing of our own equipment also allows us to incorporate our technology into the systems during at the time of production reducing the costs associated with retrofitting units. We sell these systems directly to distributors, vending operators and end users located primarily throughout the United States, Canada and Mexico. We believe that we are currently the only manufacturing entity with this capability in the vending industry, giving us a tremendous lead and advantage over our competition.
The major competitive advantages of AVT's next generation machines is they all have the capability of being configured with an integrated PC. The integrated PC allows for a variety of additional functions which include but are not limited to, cashless vending, remote sales management and media advertising for creating additional revenue through the sale and display of advertising play loops. The feature of playing multiple looping advertisements yields the possibility of adding additional stream of revenue which may exceed that of the sales of vended product. Another significant advantage is the ability to plug into a standard 120 VAC household power outlet. As an operator, AVT's experience is that the unit price of a machine and sometimes the required 220VAC circuits for the units represent major constraints to growth of a vending company. Our next generation machines will cut machine acquisition cost by greater than 50% and eliminate expensive power outlet upgrades for establishments and operators increasing placement and sales opportunities. Through the design and manufacturing of vending and product dispensing systems using new technologies, we have become a vendor of equipment for the entire gamete of food and high priced consumer electronics and dispensed items. With capabilities to produce machines that are far less expensive, less power demanding and having multi-pay options other than the traditional market standard, we have the opportunity to grow the mainstream as well as specialty segment of vending machine manufacturing and operations to become a major equipment provider to other distributors, all without a heavy capital investment.
BUSINESS STRATEGY
Manufacturing Capabilities
AVT is a full service developer and manufacture of highly integrated vending and product dispensing systems. Over the past several years, AVT has assembled an integral team of experienced engineers and qualified technicians and software programmers to develop technology based solutions comprised of original and inventive technology and integrating this technology into a line of sophisticated self service products. At the heart of our business is our engineering, manufacturing and creation of inventive and functional application software for use on AVT designed and manufactured systems.
Design: AVT employs a complete design team. Our engineers use creative tools such as "Solid Works" to develop and generate CAD drawings used by our local manufacturing partners as well as our OEM manufacture in China to produce our state of the art vending systems components which are shipped to our 30 thousand square foot facility in Corona, California for integration, assembly, final testing and deployment.
A multitude of electrical and software tools are also used to create AVT's proprietary control boards, sensors, and firmware used by all AVT branded product.
Software Development: We also employ a complete software design and development team. Our software products are a key factor to the success, functional operation and financial position of the company. As AVT owned IP, once developed, our software products are sold as a licensed part of every system AVT sells that has been integrated with an optional PC. We design our software products using today's state of the art high level programming environments which produce effective and efficient software programs that are highly flexibly and user friendly while maintaining the elevated degree of complexity and inventiveness that yield a superior and competitive product.
PRODUCTS
The RAM4000 Vending Machine
Our RAM4000 is a refrigerated vending system.. This is a refrigerated snack/beverage combo machine that uses all of our current technology to vend 4 rows of food, beverage, snack and candy or any combination thereof . The RAM4000 is ideal for smaller populated vending accounts, OCS locations and the school segment. The RAM400 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
The RAM5000 Vending Machine
Our RAM5000 machine is our answer to the industry's need for a higher capacity non refrigerated snack machine which utilizes all of our current technology. The RAM5000 vends 5 rows of non-refrigerated snack and candy or any combination thereof. RAM5000 is ideal for smaller populated vending accounts needing a high capacity vending machine, OCS locations and the school segment. Like the RAM4000, the RAM5000 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
Kiosk Systems
In addition to our vending machines, we have incorporated a line of computer and technology based kiosk systems. These kiosks will be deployed in conjunction with our line of RAM vending systems as well as being sold as self service or control center kiosks systems. All kiosks have the ability to be fitted with digital signage which runs our media software products to be come a part of AVTi Media Network.
AVTi Media
AVTi Media is an advertising medium option available basically all AVT products including our next generation vending RAM 4000/5000 vending systems. AVTi Media displays media, advertising, or hotel messaging on video screens located on the vending machine or product dispensing systems.. Consumers may view the media while they make their selections at the vending machine. AVTi Media can generate advertising revenue for owners and operators in many settings. Our target market are surgery centers, health clubs, dentist offices, retail sites, and any organization that has a high-traffic, captive audience that is striving to enhance the experience of their customers.
Fabrication
We fabricate the housing for our vending machines utilizing offshore contract manufacturers. Our final fabrication and assembly is based in Corona, California at our main facility. Local manufacturing includes approximately 10,000 sq/ft of sheet metal fabrication and 15,000 sq/ft of assembly. In-house Fabrication Capabilities include; Sheet Metal Forming, Welding, NC Punching, pot Welding, Machining and Fabrication (Fabrication Programming Software). In-House Assembly Capabilities include; Line Assembly, System Integration, QC Testing, Silk Screening, Operational Testing.
COMPETITION
Manufacturing Competition
We primarily manufacture two vending systems; a refrigerated low capacity machine, the RAM 4000, and a non-refrigerated high capacity vending machine, the RAM 5000. Both of these base models systems can house a variety of AVT designed and integrated technology making either the RAM 4000 or RAM 5000 or any one of the several derivative systems unique with the vending industry. Several of our pending patents may present a potential monopoly within the vending industry thereby forcing other manufacturing competitors to pay us for royalties or licenses fees for use of our patented technologies.
Many of our manufacturing competitors have been in business for many years building base line types of traditional vending systems. We believe that these companies are competitors for our RAM 4000 and RAM 5000 base line systems. Several of these competitors are described below.
� Crane: Which also owns Dixie Narco, AP (Auto Products) and
National Vendors is the largest manufacture of
traditional baseline vending systems.
� USI: A seasoned vending manufacture having many years in
the manufacturing of traditional baseline vending
systems.
. . .
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Form 10-Q/A for AVT, INC.
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30-Sep-2010
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION, ANALYSIS OF FINANCIAL CONDITION
ANDPLAN OF OPERATIONS
The following discussion and analysis should be read in conjunction with our audited consolidated financial statements and related notes included in this registration statement. This registration statement contains "forward-looking statements." The statements contained in this report that are not historic in nature, particularly those that utilize terminology such as "may," "will," "should," "expects," "anticipates," "estimates," "believes," or "plans" or comparable terminology are forward-looking statements based on current expectations and assumptions.
Various risks and uncertainties could cause actual results to differ materially from those expressed in forward-looking statements. Factors that could cause actual results to differ from expectations include, but are not limited to, those set forth under the section "Risk Factors" set forth in this registration statement.
The forward-looking events discussed in this registration statement, the documents to which we refer you and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. For these statements, we claim the protection of the "bespeaks caution" doctrine. All forward-looking statements in this document are based on information currently available to us as of the date of this report, and we assume no obligation to update any forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Intangible asset valuation is a methodical and detailed process that requires the complete understanding of our business, our core competencies and the intangible asset's impact upon our business. We analyze the future income stream associated with the specific asset, the market price of comparable assets, and the current cost to re-create or duplicate an asset.
THE COMPANY
AVT, Inc. is a public company. Our common stock is quoted on the Pink Sheets in the over-the-counter market.
Our primary focus is on the design and manufacture of technology based vending and product dispensing systems which utilize an inventive approach on development, integration of technology, remote management and advertising media. AVT's designs are innovative in that our systems exploit the use of integrated PCs, having internet connectivity among a variety of other components that work in concert with the PC such as, printers, credit card readers, wireless devices, RF modules and just about any peripheral that is capable of connecting to a PC. As a design manufacture, creator of specialty application software and integrator of technology, our products define the cutting edge of the vending and dispensing industry and position us as a leader and industry innovator.
We are also a vending operator having approximately 1,000 vending systems throughout the Los Angeles, Orange and Riverside, California Counties. It is our vending operation experience over the past years that add to the distinctive advantage and overall success as a manufacture and leader of technology based vending solutions. Our executive offices, engineering and manufacturing facility and warehouse are located at 341 Bonnie Circle, Suite 102, Corona, CA 92880. Our telephone number is (951) 737-1057.
We also own and operate a Mexican fast food restaurant, known as AC Mexican Food, Inc. dba, Jalapenos. The restaurant is located in a food court of a retail mall at 20532 El Toro Road, #112, Mission Viejo, CA 92692. The restaurant is a typical Mexican fast food restaurant that operates from mid morning through late evening with the majority of its business being lunch and dinner patrons.
We were originally incorporated under the laws of the State of Delaware on February 25, 1969 as Infodex, Incorporated. In October, 2005, we acquired Automated Vending Technologies, Inc., a Nevada corporation and began focusing our business on vending operations. In December, 2006 we merged our operating wholly owned subsidiary into the parent company and in January of 2008, we changed our state of domicile to the State of Nevada and renamed the company to "AVT, Inc." We operate in the State of California as "AVT Vending, Inc."
THE BUSINESS
AVT, Inc. is an innovative developer, manufacturer and vending operator of technology based vending and product dispensing solutions and equipment that utilize specifically developed patent pending application software developed at and by AVT's software team. We currently employ a workforce of approximately 40 people and services approximately 300 commercial and government vending accounts in Southern California. We design our systems to utilize our patent pending technologies and AVT developed application software to drive our vending innovations which are in various stages of development and deployment. AVT's technology staff ranges from electrical and mechanical engineers to software developers, programmers and IT specialists thereby enabling us to design and control all aspects of our unique products while keeping the "edge" on all of our developed products.
Our business currently focuses on the following:
� Design, development and manufacturing of the RAM 4000 vending machine, a refrigerated beverage/snack combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing of the RAM 5000 vending machine, a high capacity non-refrigerated snack/chip/pastry combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing an attractive, built-in, secure access vending cabinet for hotels that do not have on-site food service. Our AEM� cabinet incorporates patent pending touch-screen to vend or TSV� which replaces both stand-alone machines and in-room locked mini-fridges while providing controlled access and a range of direct customer billing options.
� AVT has developed a variety of customized 'high end" PC based product dispensing systems designed to meet the needs of customers looking to dispense specific products or branded products. Most of these customized products utilize application software developed by AVT's software team to give the unique intuitive operation expected by the customer.
� Many of our custom dispensing systems are derivatives of the AVT RAM 4000 or 5000 base housing having touch screens, front panels and vinyl wrapped housings which are unique or customized to end customer's needs for dispensing "branded" products. For additional attention or attraction, many of the system include large color digital signage. These systems allow a variety of AVT designed technologies to be integrated into the system to meet specific customer needs for a custom dispensing system. Our current high end product dispensing includes the Ivend, 24Hr. Vend Mart, and Tech-Store.
� We developed Patent-Pending, affordable software called VMS� (Vending Management System).VMS� is application software that enables AVT designed and manufactured vending and product dispensing systems to be remotely managed by the vending owners/operators allowing them to receive real time information via the Internet. Our VMS� software also allows for the reporting of cashless payments when the system is equipped with credit card accepting hardware. Together (VMS� software and Credit Card reader) enabling patrons to use credit card or membership card for completing vending transactions.
� We have developed and maintain an application software product for digital signage called AVTI Media�. This application program is in effect a PC media player which is capable of playing all varieties of advertisements specifically designed to be played on PCs which are an integrated into and a part of our dispensing systems offered for sale. Software designed a ads which are played by the integrated PC. The advertisements displayed on highly visible, LCD displays for viewing by the general public. The LCD video panels which are also integrated into our vending systems create a new opportunity for advertisers to reach consumers in a captive setting while generating additional revenue from the sale of software based advertisements.
� TSV (Touch Screen Vending) is our primary flagship application software product. Designed and development by AVT's software staff several years ago, it is like most of today's application software, constantly maintained and in continuous refinement, support and development to remain compatible with and competitive with the ever changing PCs environment. Our TSV software product is the primary foundation for ALL of AVT's touch screen based systems like the RAM 4000 and RAM 5000 to name a few. This application software is modular by design allowing extreme flexibly by our customers allowing them to have a product that is capable providing the system owner a specific "look and Feel" coupled with dispensing their own specific products via the customizable GUI interface.
� Custom Application Software has become one of our principal products and source of revenue generation as well as becoming tangible assets of AVT, Inc. Many of our customers will request a specific sequence of touch screen based pages that allow a user to intuitively navigate through a complete transaction. These screens are defined as the customers "story board" and are in many cases the foundation of a customized sales of our product dispensing systems as it provides our customer with the means of having a low cost method to brand, expand and market their product. All of our customized software projects use a blend of other AVT's developed software IP (intellectual Property) products to complete the project. In example, our software team will create a custom .dll (Direct Library Link) that will interface with or use parts of AVT's TSV or AVTi Media modules (or other) thereby creating a custom software product that is then licensed to the customer buying our dispensing systems. Each system AVT shops will include a paid licensee for use of the TSV, AVTI Media or other as needed.
Our goal is to be the leader in technology based vending and product dispensing solutions that are reflective of today's "got to have it now" consumers. Serving international vending owners and operators whose desire is to have a better experience with vending equipment. We strive to grow our business by developing superior customer solutions, adapting new technologies, and pursuing appropriate mergers and acquisitions. Our growth is dependant upon the development of new technology, the incorporation of advertisement on the vending machines, and the sales of our RAM 4000 and RAMS 5000 systems, the introduction of the next generation Product Dispensing Centers, and the development of revolutionary vending technologies.
Vending History
Vending machines had been introduced to Americans over 70 years earlier by Thomas Adams, who installed them on New York City's elevated train platforms to sell his Chicklets gum. After World War II the vending industry grew twice as fast as the gross national product, driven by three primary factors: rising labor costs made machines an attractive alternative to human laborers; technological advances in food preservation and dispensing equipment permitted service of hot meals, sandwiches, coffee, and soft drinks; and technological advances were made in money-changing equipment. Vendors targeted "captive" markets in factories, offices, schools, and other institutions--a huge market with plenty of potential for growth and competition. The vending industry had achieved $2.5 billion in annual sales by 1960, and with statistics showing that Americans ate one in four meals away from home, vendors and stockbrokers foresaw a fine future for vending.
The Market
The vending industry is a $42 billion domestic market as reported by The Vending Times Census of the Industry 2004. This figure represents the revenues generated by vending owners/operators and excludes office coffee and manual food service. Manual food service represents an additional $10 billion in annual demand for convenience food. Vended Food Products, which include refrigerated, frozen, can/bowl pack, and other meal items represents a $3.1 billion segment. While data on vended frozen foods is not stated specifically, industry sources including Vending Times and The Automatic Merchandiser Magazine concur that frozen food is a growth category while fresh foods are declining. Frozen food machines include ice cream machines as well as frozen entree machines that require an adjacent microwave oven to heat the item.
According to the Vending Times, there are an estimated 1.4 million vending locations throughout the United States situated in manufacturing plants, factories, offices, government buildings, schools, colleges, hospitals and other public locations. These are served by approximately 9,000 vending operators. In addition, there are approximately 52,000 hotels in the United States and 300,000 worldwide according to the American Hotel & Lodging Association (www.ahma.com). There are approximately 6,000 business-oriented hotels with more than 150 rooms, and approximately 14,000 hotels with 75 to 150 rooms. The growth rate for the overall vending market is 5% annually.
Our Products and Services
We have a family of products which are geared towards improving the experience of consumers, establishments, and operators in the convenience food, digital signage and product dispensing industry.
Our current line of products and services are described below.
Automated Express Market
We have developed and created our Automated Express Market (AEM�) system which is Controlled Access Cabinet system. These custom built wood and steel based cabinets are PC based and designated for use in specialized locations such as hotels, Inns, c-stores, malls and retail stores that are limited in the ability to effectively sell and market food, convenience items or higher priced items which are subject to pilfering. The cabinets can be merchandised to dispense more than seventy-two selections including snacks, hot meals, ice cream, alcoholic and non-alcoholic beverages as well as personal amenities such as sunscreen, toothpaste, and brushes. They can also be configured for high ticket items such as cell phones, digital cameras mp3 players personal electronic devise and more. The AEM� system gives the hotel's customers the convenience of billing directly to their room through touch screen pin technology so they do not have to carry cash or coin to make purchases. The system automatically posts the charge to the guest's account by utilizing touch screen vending (TSV�) and multi-payment capabilities. AEM� cabinets have multiple payment options built in that include touch screen payment technology, credit/debit acceptors and smart card readers. We are currently exploring opportunities with many limited service hotel chains in the U.S., a market that totals more than 50,000 establishments as well as c-stores and retail stores and shopping malls.
Media Advertising
We have developed a software product called AVTi Media� which allows for an advertising medium (player) to be added to virtually any of AVT designed systems including AEM� cabinets and all four next generation vending and product dispensing systems. By incorporating AVTI Media, we allow the consumer to view the media, advertising or hotel messaging while they make their selections. AVTi Media can generate advertising revenue for owners and operators in many settings such as conference rooms, hotel lobbies, airport terminals, restaurants, car rental outlets and surgery center waiting rooms. By having vending machines in prominent locations within major companies, the vending operator "owns" the valuable space that can be used to generate advertising revenue through the Digital TV Message Board or (DTVMB) technology. Our Vending Management System software allows for the management of machine inventory, repairs, collections and advertising through remote access. VMS� enables owner/operators to reduce costs and increase profits by enabling real time access to inventory levels, system status, machine service and daily receivables with little to no machine down time.
Vending Management System� (VMS)
Our VMS systems is another AVT developed software product that allows us to remotely view information for each machine to help plan for daily replenishment, sales statistics and alerts of systems malfunctions to operators as well as defect history for each machine by means of software error log files. This technology increases operational efficiency of vending operations and helps to prevent inventory shrinkage and skimming, both major control issues in the vending industry. A key differentiator relative to the offerings of other established players in the vending machine management space is that our VMS solution works via a DSL line cellular modem or Internet Wi-Fi and be substantially less expensive to own and operate than competing systems that do not use the internet for bi-directional transmission of vending system data.
Vend Sensing System (VSS)
We have developed and have a patent pending on our VSS product to provide a surefire solution for detecting all vended items. The VSS was developed specifically to detect that a vending type of product has dropped from one of the dispensing columns directly above the sensing system and has fallen into the customer delivery bin at the base of the vending system.
The VSS is coupled directly with the vending system control electronics in such that the VSS circuitry is disabled until the vending system control electronics has received payment. Once payment has been received and the vending system starts the dispensing process, the control electronics enables the VSS circuitry to detect product which has been dispensed and has dropped into the delivery bin below. During this sensing period, the VSS circuitry is only enabled for the empirical time period it takes to detect any one of the vendible products to fall into the delivery bin.
During the sensing period of time, the VSS circuitry uses an auto-calibrated ultrasonic beam to detect if an object of just about any size, form or shape (designed for detection of any object that can be vended) has fallen into the detectable space of the customer product delivery bin. If an object (vended product) enters the detectable vending space, the VSS circuitry detects the object and in turn sends a "detected" signal to the Control Electronics. If the VSS circuitry does not detect an object has entered the customer delivery bin space within the allotted empirical time frame, the VSS circuitry returns a command signal to the control electronics that a "no vend object detected". It is the control electronics responsibility to determine the next appropriate action to take.
This invention for product detection provides many distinct and exciting advantages over conventional detection. First and foremost, the VSS is calibrated to "look" across the entire cross-sectional area of the delivery bin. This is a primary advantage over the conventional light beam detection method. The detection system is compatible in cost to that of traditional vending detection systems. The "self calibration mode allows the system to be able to retrofit into other vending systems with minimal modification needed.
Vending Machine Manufacturing, Sales and Placements
We currently manufacture next generation refrigerated and high capacity snack machines as well as standard and customized product dispensing systems. These machines have been designed to meet or exceed our specific performance specifications and give us the ability to minimize costs traditionally associated with purchasing new equipment. The manufacturing of our own equipment also allows us to incorporate our technology into the systems during at the time of production reducing the costs associated with retrofitting units. We sell these systems directly to distributors, vending operators and end users located primarily throughout the United States, Canada and Mexico. We believe that we are currently the only manufacturing entity with this capability in the vending industry, giving us a tremendous lead and advantage over our competition.
The major competitive advantages of AVT's next generation machines is they all have the capability of being configured with an integrated PC. The integrated PC allows for a variety of additional functions which include but are not limited to, cashless vending, remote sales management and media advertising for creating additional revenue through the sale and display of advertising play loops. The feature of playing multiple looping advertisements yields the possibility of adding additional stream of revenue which may exceed that of the sales of vended product. Another significant advantage is the ability to plug into a standard 120 VAC household power outlet. As an operator, AVT's experience is that the unit price of a machine and sometimes the required 220VAC circuits for the units represent major constraints to growth of a vending company. Our next generation machines will cut machine acquisition cost by greater than 50% and eliminate expensive power outlet upgrades for establishments and operators increasing placement and sales opportunities. Through the design and manufacturing of vending and product dispensing systems using new technologies, we have become a vendor of equipment for the entire gamete of food and high priced consumer electronics and dispensed items. With capabilities to produce machines that are far less expensive, less power demanding and having multi-pay options other than the traditional market standard, we have the opportunity to grow the mainstream as well as specialty segment of vending machine manufacturing and operations to become a major equipment provider to other distributors, all without a heavy capital investment.
BUSINESS STRATEGY
Manufacturing Capabilities
AVT is a full service developer and manufacture of highly integrated vending and product dispensing systems. Over the past several years, AVT has assembled an integral team of experienced engineers and qualified technicians and software programmers to develop technology based solutions comprised of original and inventive technology and integrating this technology into a line of sophisticated self service products. At the heart of our business is our engineering, manufacturing and creation of inventive and functional application software for use on AVT designed and manufactured systems.
Design: AVT employs a complete design team. Our engineers use creative tools such as "Solid Works" to develop and generate CAD drawings used by our local manufacturing partners as well as our OEM manufacture in China to produce our state of the art vending systems components which are shipped to our 30 thousand square foot facility in Corona, California for integration, assembly, final testing and deployment.
A multitude of electrical and software tools are also used to create AVT's proprietary control boards, sensors, and firmware used by all AVT branded product.
Software Development: We also employ a complete software design and development team. Our software products are a key factor to the success, functional operation and financial position of the company. As AVT owned IP, once developed, our software products are sold as a licensed part of every system AVT sells that has been integrated with an optional PC. We design our software products using today's state of the art high level programming environments which produce effective and efficient software programs that are highly flexibly and user friendly while maintaining the elevated degree of complexity and inventiveness that yield a superior and competitive product.
PRODUCTS
The RAM4000 Vending Machine
Our RAM4000 is a refrigerated vending system.. This is a refrigerated snack/beverage combo machine that uses all of our current technology to vend 4 rows of food, beverage, snack and candy or any combination thereof . The RAM4000 is ideal for smaller populated vending accounts, OCS locations and the school segment. The RAM400 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
The RAM5000 Vending Machine
Our RAM5000 machine is our answer to the industry's need for a higher capacity non refrigerated snack machine which utilizes all of our current technology. The RAM5000 vends 5 rows of non-refrigerated snack and candy or any combination thereof. RAM5000 is ideal for smaller populated vending accounts needing a high capacity vending machine, OCS locations and the school segment. Like the RAM4000, the RAM5000 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
Kiosk Systems
In addition to our vending machines, we have incorporated a line of computer and technology based kiosk systems. These kiosks will be deployed in conjunction with our line of RAM vending systems as well as being sold as self service or control center kiosks systems. All kiosks have the ability to be fitted with digital signage which runs our media software products to be come a part of AVTi Media Network.
AVTi Media
AVTi Media is an advertising medium option available basically all AVT products including our next generation vending RAM 4000/5000 vending systems. AVTi Media displays media, advertising, or hotel messaging on video screens located on the vending machine or product dispensing systems.. Consumers may view the media while they make their selections at the vending machine. AVTi Media can generate advertising revenue for owners and operators in many settings. Our target market are surgery centers, health clubs, dentist offices, retail sites, and any organization that has a high-traffic, captive audience that is striving to enhance the experience of their customers.
Fabrication
We fabricate the housing for our vending machines utilizing offshore contract manufacturers. Our final fabrication and assembly is based in Corona, California at our main facility. Local manufacturing includes approximately 10,000 sq/ft of sheet metal fabrication and 15,000 sq/ft of assembly. In-house Fabrication Capabilities include; Sheet Metal Forming, Welding, NC Punching, pot Welding, Machining and Fabrication (Fabrication Programming Software). In-House Assembly Capabilities include; Line Assembly, System Integration, QC Testing, Silk Screening, Operational Testing.
COMPETITION
Manufacturing Competition
We primarily manufacture two vending systems; a refrigerated low capacity machine, the RAM 4000, and a non-refrigerated high capacity vending machine, the RAM 5000. Both of these base models systems can house a variety of AVT designed and integrated technology making either the RAM 4000 or RAM 5000 or any one of the several derivative systems unique with the vending industry. Several of our pending patents may present a potential monopoly within the vending industry thereby forcing other manufacturing competitors to pay us for royalties or licenses fees for use of our patented technologies.
Many of our manufacturing competitors have been in business for many years building base line types of traditional vending systems. We believe that these companies are competitors for our RAM 4000 and RAM 5000 base line systems. Several of these competitors are described below.
� Crane: Which also owns Dixie Narco, AP (Auto Products) and
National Vendors is the largest manufacture of
traditional baseline vending systems.
� USI: A seasoned vending manufacture having many years in
the manufacturing of traditional baseline vending
systems.
. . .
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Monday, September 20, 2010
AVT receives large order from industry leader, Compass USA
On September 9, 2010 AVT received a purchase order for 100 Ram 5000 media machines from Compass USA, a division of London-based Compass Group for delivery by the end of September 2010.
IPOdesktop top estimates the revenue from the Compass order will be in the neighborhood of $400,000.
Compass Group PLC is a United Kingdom-based holding company with a market capitalization of $16 billion, annual sales of $21 billion and annual profit of $1.5 billion. Stock quote: http://www.google.com/finance?q=PINK%3ACMPGY
The principal activities of Compass Group are the provision of contract foodservice and support services to the clients. The Company operates in four geographical segments: North America, Continental Europe, UK & Ireland, and Rest of the World.
In the US Compass USA runs Canteen Vending Services. Canteen is the most recognized name in vending. Established in 1929 in Chicago with just five-cent candy bar machines, Canteen has revolutionized the industry with its cutting-edge Market Central designs, Fresh To You fresh food options and exclusive partnerships with popular national brands. Canteen is the only vending company in the US with a franchise system that serves clients in.
For more information contact:
CNN Microcap News
951-278-2068
www.cnncapnews.com
Brentt J. Arcement
CNN Microcap News
Director IR-PR
2280 Wardlow Circle Ste 260
Corona, CA 92880
IPOdesktop top estimates the revenue from the Compass order will be in the neighborhood of $400,000.
Compass Group PLC is a United Kingdom-based holding company with a market capitalization of $16 billion, annual sales of $21 billion and annual profit of $1.5 billion. Stock quote: http://www.google.com/finance?q=PINK%3ACMPGY
The principal activities of Compass Group are the provision of contract foodservice and support services to the clients. The Company operates in four geographical segments: North America, Continental Europe, UK & Ireland, and Rest of the World.
In the US Compass USA runs Canteen Vending Services. Canteen is the most recognized name in vending. Established in 1929 in Chicago with just five-cent candy bar machines, Canteen has revolutionized the industry with its cutting-edge Market Central designs, Fresh To You fresh food options and exclusive partnerships with popular national brands. Canteen is the only vending company in the US with a franchise system that serves clients in.
For more information contact:
CNN Microcap News
951-278-2068
www.cnncapnews.com
Brentt J. Arcement
CNN Microcap News
Director IR-PR
2280 Wardlow Circle Ste 260
Corona, CA 92880
A Great Buy
This is a company I suggest everyone look into. A company out of Corona, CA. AVT is trading under AVTC.PK. This is a vending technologies based infrastructure. It's important to look for companies in non-stagnating industries. This is a great buy.
Tuesday, September 14, 2010
CNN MicroCap News Recommends Buy on AVT, inc.
“AVT does for retail what ATM’s did for banking”
CORONA, Calif., September 14, 2010 -- AVT, Inc. (formerly Automated Vending Technologies) (Pink Sheets: AVTC) (http://www.avtinconline.com/)
CNN MicroCap News has issued a buy recommendation for AVT, inc. CNN MicroCap News focuses on small-cap stocks that are typically undervalued, with high upside
potential.
The report listed multiple reasons that AVT should be considered by any investor, including past performance, future profit potential, expansion, and proprietary systems. AVT is a leader in the automated product dispensing industry, and their systems offer customers everything from activated cell phones, to board shorts, to popcorn.
“The company was profitable in 2007, 2008 and 2009. Sales doubled from 2007 to 2009 and AVT appears headed for record-breaking sales in 2010,” the report stated. In addition, it noted, “AVT’s stand-out internal growth was accomplished during a time of overall economic recession.”
Part of AVT’s growth is due to the technology they have developed to deliver new services and applications. “AVT’s cost-effective customizing process is based on a system of proprietary software and hardware, protected by five pending patents,” the report stated.
To fuel this growth, AVT recently expanded, doubling their manufacturing and development space to over 60,000 square feet.
In summary, the CNN MicroCap News report noted that AVT is revolutionizing the entire industry, stating, “AVT is helping drive and grow the market – doing for retail what ATMs did for banking.”
For more information on AVT, visit AVT’s Website at: www.avtinconline.com, or call
James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
CORONA, Calif., September 14, 2010 -- AVT, Inc. (formerly Automated Vending Technologies) (Pink Sheets: AVTC) (http://www.avtinconline.com/)
CNN MicroCap News has issued a buy recommendation for AVT, inc. CNN MicroCap News focuses on small-cap stocks that are typically undervalued, with high upside
potential.
The report listed multiple reasons that AVT should be considered by any investor, including past performance, future profit potential, expansion, and proprietary systems. AVT is a leader in the automated product dispensing industry, and their systems offer customers everything from activated cell phones, to board shorts, to popcorn.
“The company was profitable in 2007, 2008 and 2009. Sales doubled from 2007 to 2009 and AVT appears headed for record-breaking sales in 2010,” the report stated. In addition, it noted, “AVT’s stand-out internal growth was accomplished during a time of overall economic recession.”
Part of AVT’s growth is due to the technology they have developed to deliver new services and applications. “AVT’s cost-effective customizing process is based on a system of proprietary software and hardware, protected by five pending patents,” the report stated.
To fuel this growth, AVT recently expanded, doubling their manufacturing and development space to over 60,000 square feet.
In summary, the CNN MicroCap News report noted that AVT is revolutionizing the entire industry, stating, “AVT is helping drive and grow the market – doing for retail what ATMs did for banking.”
For more information on AVT, visit AVT’s Website at: www.avtinconline.com, or call
James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
Thursday, September 9, 2010
POP N GO Nears Completion of N9000 Production Run
WHITTIER, CA--(Marketwire - 09/08/10) - Pop N Go, Inc. (Pinksheets:POPN - News) announced today that the Company's Model N9000 popcorn vending machine system is in the final stages of its first production run. Upon completion and final systems check, expected to take place in October, Pop N Go will ship machines to locations in Canada including the Walmart Canada headquarters office, Union Station in Toronto, one of the largest hospitals in Canada and Canadian Tire, a large national chain, as first announced on June 4, 2010. The Company will also ship machines for installation in free standing game stores located within a multi-thousand store US based retail chain as well as schools, malls and retail accounts across the country.
"Pop N Go and AVT (Pinksheets:AVTC - News), its manufacturing partner, have been pulling out all the stops to keep up with the soaring demand for our patented 'popcorn on demand' healthy snack vending machines. The combination of a fresh snack prepared in an entertaining way along with the incorporation of an embedded user-friendly touch screen and a High-Resolution video monitor promises to make the N9000 the worldwide leader and most recognizable vending brand in the world. We will provide details of exciting new developments as they unfold in the near future," said Mel Wyman, Pop N Go CEO.
About Pop N Go, Inc.
Pop N Go produces a unique hot air popcorn machine, capable of delivering single servings of fresh hot popcorn, which meets the demands of today's market. The company's self-contained equipment produces fresh popcorn for each customer while allowing the customer to watch the entire popping process. Pop N Go's machine is sized to fit almost anywhere (2'x2'), and can be used as a stand-alone vending machine or in a manual mode for traditional foodservice applications. More information about Pop N Go can be found at www.popngo.com.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. Nothing in this press release shall be construed as an offer to buy or sell any securities herein.
For further information about this release and Pop N Go, contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127
Embedded Video Available
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1352601Youtube Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=1352712
"Pop N Go and AVT (Pinksheets:AVTC - News), its manufacturing partner, have been pulling out all the stops to keep up with the soaring demand for our patented 'popcorn on demand' healthy snack vending machines. The combination of a fresh snack prepared in an entertaining way along with the incorporation of an embedded user-friendly touch screen and a High-Resolution video monitor promises to make the N9000 the worldwide leader and most recognizable vending brand in the world. We will provide details of exciting new developments as they unfold in the near future," said Mel Wyman, Pop N Go CEO.
About Pop N Go, Inc.
Pop N Go produces a unique hot air popcorn machine, capable of delivering single servings of fresh hot popcorn, which meets the demands of today's market. The company's self-contained equipment produces fresh popcorn for each customer while allowing the customer to watch the entire popping process. Pop N Go's machine is sized to fit almost anywhere (2'x2'), and can be used as a stand-alone vending machine or in a manual mode for traditional foodservice applications. More information about Pop N Go can be found at www.popngo.com.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. Nothing in this press release shall be construed as an offer to buy or sell any securities herein.
For further information about this release and Pop N Go, contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127
Embedded Video Available
Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=1352601Youtube Video Available: http://www2.marketwire.com/mw/frame_mw?attachid=1352712
Tuesday, September 7, 2010
AVT Signs Manufacturing Agreement With Flix on Stix
New Flix on Stix Self-Serve Kiosks Allow Customers to Download Movies, Games, TV Shows
CORONA, CA--(Marketwire - 09/07/10) - AVT, Inc. (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, Inc., one of the nation's leading providers of automated retailing systems and technologies, has announced that they have entered into an agreement with Flix on Stix to be the exclusive manufacturer of the high-tech kiosk systems.
AVT is manufacturing the kiosk system, which is equipped with proprietary Flix software that allows customers to download movies and games to a small, portable USB drive, also known as a "thumb drive" or "flash drive." These inexpensive storage devices are able to receive a full-length movie in as little as 30 seconds. The customer can choose whether to purchase or rent the title -- for one low fee, and never incur late fees since there is nothing to return. The movies can then be watched on any PC or Mac computer, or TV.
The Flix on Stix self-serve kiosks will be located in shopping malls, retail stores, airports, hotels, convenience stores, and college campuses throughout the nation. Customers simply look up their desired title on the touch screen panel and insert their USB drive, and within seconds, their selection is downloaded either for rental or purchase.
Since the Flix on Stix system uses dedicated web-based technology to deliver the content, there are never any titles that are out of stock. Unlike DVD rental kiosks or stores that often have issues with popular titles being unavailable, the Flix system guarantees 100% deliverability, 100% of the time.
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
To view a video presentation on the Flix on Stix system, please visit: http://www.youtube.com/watch?v=SdXj4Y_a_TU
CORONA, CA--(Marketwire - 09/07/10) - AVT, Inc. (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, Inc., one of the nation's leading providers of automated retailing systems and technologies, has announced that they have entered into an agreement with Flix on Stix to be the exclusive manufacturer of the high-tech kiosk systems.
AVT is manufacturing the kiosk system, which is equipped with proprietary Flix software that allows customers to download movies and games to a small, portable USB drive, also known as a "thumb drive" or "flash drive." These inexpensive storage devices are able to receive a full-length movie in as little as 30 seconds. The customer can choose whether to purchase or rent the title -- for one low fee, and never incur late fees since there is nothing to return. The movies can then be watched on any PC or Mac computer, or TV.
The Flix on Stix self-serve kiosks will be located in shopping malls, retail stores, airports, hotels, convenience stores, and college campuses throughout the nation. Customers simply look up their desired title on the touch screen panel and insert their USB drive, and within seconds, their selection is downloaded either for rental or purchase.
Since the Flix on Stix system uses dedicated web-based technology to deliver the content, there are never any titles that are out of stock. Unlike DVD rental kiosks or stores that often have issues with popular titles being unavailable, the Flix system guarantees 100% deliverability, 100% of the time.
For more information on AVT, visit AVT's Website at: www.avtinconline.com, or call James Winsor, Chief Executive Officer and Chief Engineering Officer, at 951-737-1057.
To view a video presentation on the Flix on Stix system, please visit: http://www.youtube.com/watch?v=SdXj4Y_a_TU
Thursday, September 2, 2010
Flix on Stix Offers Movies, TV Shows, Sports, Independent Films and Games on Portable USB Drives
New Patented Technology in Self-Serve Kiosks Allows Customers to Download Virtually Unlimited Titles
CORONA, CA--(Marketwire - 09/02/10) - Flix on Stix (www.flixonstix.com)
After several years in research and development, Flix on Stix has announced that their compliance certification is in the final phase and upon completion they are ready to roll out their innovative kiosks to select markets to begin in the last quarter of this year.
Flix on Stix has designed and developed a revolutionary new method for delivery of movies and games that has vast superiority over traditional methods. The Flix on Stix system consists of self-serve kiosks -- soon to be located in shopping malls, retail stores, airports, hotels, convenience stores, and college campuses throughout the nation. Customers simply look up their desired title on the touch screen panel and insert their USB drive, and within seconds, their selection is downloaded either for rental or purchase.
"The Flix system will one day replace all DVDs, as they are expensive for the distributor, plus they are bulky and prone to scratches that cause playability problems for the consumer," states Bob Bienias, Managing Partner of Flix on Stix. "The Flix system allows digital content to be downloaded to a customer's USB drive, with no scratches or damage, no late fees, and no out-of-stock issues."
Since the Flix on Stix system uses dedicated web-based technology to deliver the content, there are never any titles that are out of stock. Unlike DVD rental kiosks or stores that often have issues with popular titles being unavailable, the Flix system guarantees 100% deliverability, 100% of the time.
The Flix kiosk allows customers to download movies and games to a small, portable USB drive, also known as a "thumb drive" or "flash drive." These inexpensive storage devices are able to receive a full-length movie in as little as 30-seconds. The customer can choose whether to purchase or rent the title -- for one low fee, and never incur late fees.
The movies can then be watched on any PC or MAC personal computer, or TV.
"Every once in a while, new technology is developed that revolutionizes an industry," Bienias commented. "Flix on Stix has that game-changing technology that will forever change the entertainment industry."
For more information, please contact Bob Bienias, Managing Partner, at (951) 220-6552 or toll free at: (877) 430-3549. To view a video presentation on the Flix on Stix system, please visit: http://www.youtube.com/watch?v=SdXj4Y_a_TU
CORONA, CA--(Marketwire - 09/02/10) - Flix on Stix (www.flixonstix.com)
After several years in research and development, Flix on Stix has announced that their compliance certification is in the final phase and upon completion they are ready to roll out their innovative kiosks to select markets to begin in the last quarter of this year.
Flix on Stix has designed and developed a revolutionary new method for delivery of movies and games that has vast superiority over traditional methods. The Flix on Stix system consists of self-serve kiosks -- soon to be located in shopping malls, retail stores, airports, hotels, convenience stores, and college campuses throughout the nation. Customers simply look up their desired title on the touch screen panel and insert their USB drive, and within seconds, their selection is downloaded either for rental or purchase.
"The Flix system will one day replace all DVDs, as they are expensive for the distributor, plus they are bulky and prone to scratches that cause playability problems for the consumer," states Bob Bienias, Managing Partner of Flix on Stix. "The Flix system allows digital content to be downloaded to a customer's USB drive, with no scratches or damage, no late fees, and no out-of-stock issues."
Since the Flix on Stix system uses dedicated web-based technology to deliver the content, there are never any titles that are out of stock. Unlike DVD rental kiosks or stores that often have issues with popular titles being unavailable, the Flix system guarantees 100% deliverability, 100% of the time.
The Flix kiosk allows customers to download movies and games to a small, portable USB drive, also known as a "thumb drive" or "flash drive." These inexpensive storage devices are able to receive a full-length movie in as little as 30-seconds. The customer can choose whether to purchase or rent the title -- for one low fee, and never incur late fees.
The movies can then be watched on any PC or MAC personal computer, or TV.
"Every once in a while, new technology is developed that revolutionizes an industry," Bienias commented. "Flix on Stix has that game-changing technology that will forever change the entertainment industry."
For more information, please contact Bob Bienias, Managing Partner, at (951) 220-6552 or toll free at: (877) 430-3549. To view a video presentation on the Flix on Stix system, please visit: http://www.youtube.com/watch?v=SdXj4Y_a_TU
Monday, August 30, 2010
CNN Microcap News Interviewed Francis Gaskins
Click on this link for: CNN Microcap’s interview of Francis Gaskin (Forbes leading IPO analyst and president of IPO Desktop.com), about our current recommendation: http://www.youtube.com/watch?v=KuIOtrONn-o
Founder Shannon Illingworth Interview with CNN Microcap News
Click on this link to get a full interview with the founder of AVT: Shannon Illingworth and CNN Microcap News http://www.youtube.com/watch?v=m41qG2PUDqc
CEO James Winsor Interview with CNN Microcap News
Click on this link to get a full interview with the CEO of AVT: James Winsor and CNN Microcap News http://www.youtube.com/watch?v=nciZD_RTuYI
A Deeper look into AVT (AVTC)
Click on this link to get a deeper look into AVT http://www.youtube.com/watch?v=ZoTdBcXFTYA&feature=channel
An Inside Look at AVT (AVTC) Manufacturing and Technology
Click on this link ttp://www.youtube.com/watch?v=xzmxktY8KHQ&feature=related
and get the inside look on AVT's manufacturing and technology
and get the inside look on AVT's manufacturing and technology
Wednesday, August 25, 2010
IPO Desktop.com Recommends
Company meets the criteria for growth, profitability and stability
CORONA, Calif., August 25, 2010 -- AVT, Inc. (formerly Automated Vending Technologies) (Pink Sheets: AVTC) (http://www.avtinconline.com/)
IPODesktop.com president Francis Gaskin was interviewed on CNN Microcap News, and gave a “buy” recommendation for AVT, Inc., one of the nation’s leading providers of
automated retailing systems.
Gaskin, a widely respected analyst who has been featured in the Wall Street Journal, Bloomberg News, and CNBC, stated that he has developed three criteria when evaluating any small cap stock. “I have to get to the bottom line quickly and cut through the clutter,”
he said.
Gaskin’s first rule of small cap investing is to evaluate whether the company is in a growing market. He advises investors to stay away from companies in shrinking or
declining markets.
His second rule is to examine the gross margin and make sure it is high. Gaskin stated that he likes to see gross margins in the 24% area or better.
The third criteria Gaskin said he uses to determine the quality of a small cap stock, is whether the company has been profitable for at least 2-consecutive years.
These last two years have been difficult for many companies due to the economic downturn, Gaskin stated. “So if you can find a company that has had good top end revenue growth and has been profitable for the last couple of years, which AVT has, then that definitely requires another good look.”
Gaskin commented that he also looks for major macro trends. “Retailers want automatic dispensing machines. They get higher revenues per square foot, reduce losses, and it’s a great way to increase the efficiency of retailing,” he commented. “Large retailers are very interested in that, and it’s a growing segment that we’ll be following.”
To see the CNN Microcap interview of Francis Gaskin, president of IPO Desktop.com,
please visit: http://www.youtube.com/watch?v=KuIOtrONn-o
CORONA, Calif., August 25, 2010 -- AVT, Inc. (formerly Automated Vending Technologies) (Pink Sheets: AVTC) (http://www.avtinconline.com/)
IPODesktop.com president Francis Gaskin was interviewed on CNN Microcap News, and gave a “buy” recommendation for AVT, Inc., one of the nation’s leading providers of
automated retailing systems.
Gaskin, a widely respected analyst who has been featured in the Wall Street Journal, Bloomberg News, and CNBC, stated that he has developed three criteria when evaluating any small cap stock. “I have to get to the bottom line quickly and cut through the clutter,”
he said.
Gaskin’s first rule of small cap investing is to evaluate whether the company is in a growing market. He advises investors to stay away from companies in shrinking or
declining markets.
His second rule is to examine the gross margin and make sure it is high. Gaskin stated that he likes to see gross margins in the 24% area or better.
The third criteria Gaskin said he uses to determine the quality of a small cap stock, is whether the company has been profitable for at least 2-consecutive years.
These last two years have been difficult for many companies due to the economic downturn, Gaskin stated. “So if you can find a company that has had good top end revenue growth and has been profitable for the last couple of years, which AVT has, then that definitely requires another good look.”
Gaskin commented that he also looks for major macro trends. “Retailers want automatic dispensing machines. They get higher revenues per square foot, reduce losses, and it’s a great way to increase the efficiency of retailing,” he commented. “Large retailers are very interested in that, and it’s a growing segment that we’ll be following.”
To see the CNN Microcap interview of Francis Gaskin, president of IPO Desktop.com,
please visit: http://www.youtube.com/watch?v=KuIOtrONn-o
Thursday, August 19, 2010
AVT and Orca Distribution Partner to Create Automated Gift Shops
New "Smart" Vending Machines Provide an Automated Gift Shop Environment in Airports and Hotels
CORONA, CA--(Marketwire - 08/18/10) - AVT, Inc. (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, Inc., one of the nation's leading providers of automated retailing systems, has reached an agreement with Orca Distribution to provide vending machines to serve the travel and tourism markets.
AVT will provide the vending technology to move an airport or hotel-style gift shop into the automated world.
Orca currently serves major airports throughout the nation, including Los Angeles International (LAX), Burbank, John Wayne (Orange County), New York LaGuardia, Dallas/Ft. Worth International, Atlanta (Hartsfield-Jackson International), Reno-Tahoe, Jacksonville (JAX), Portland International, Phoenix Sky Harbor, and JFK International in New York; and hotel chains such as Hyatt, Hilton, Westin, Sheraton, Marriott, and Embassy Suites.
Orca and AVT plan to offer travelers healthy alternatives to the typical high-fat content snacks usually found in vending machines and gift shops, and will feature selections from California Prime Produce, including naturally dried fruits, nuts, and mixes.
"We are pleased to partner with Orca and offer the public a more convenient and healthier product," AVT founder Shannon Illingworth commented. "The 'Automated Gift Shop' is an idea that we helped pioneer, and offers tremendous growth potential for all parties involved."
The new machines will be offering such unique and healthy items as natural mango, sliced kiwi, California dates, papaya and sliced peaches.
Winsor stated that the Orca partnership is due in part to the cutting-edge features of their machines. "We are a technology-driven company, and offer vending machines that provide a variety of solutions for a multitude of industries and products. Our units can be configured to feature cash and/or cashless payment systems, enhanced security, on-board refrigeration and heating, and instant online inventory status reports." He also noted that the "high level of customer service we provide is just another reason why companies continually choose AVT as their vending partner."
CORONA, CA--(Marketwire - 08/18/10) - AVT, Inc. (formerly Automated Vending Technologies) (Pinksheets:AVTC - News) (www.avtinconline.com)
AVT, Inc., one of the nation's leading providers of automated retailing systems, has reached an agreement with Orca Distribution to provide vending machines to serve the travel and tourism markets.
AVT will provide the vending technology to move an airport or hotel-style gift shop into the automated world.
Orca currently serves major airports throughout the nation, including Los Angeles International (LAX), Burbank, John Wayne (Orange County), New York LaGuardia, Dallas/Ft. Worth International, Atlanta (Hartsfield-Jackson International), Reno-Tahoe, Jacksonville (JAX), Portland International, Phoenix Sky Harbor, and JFK International in New York; and hotel chains such as Hyatt, Hilton, Westin, Sheraton, Marriott, and Embassy Suites.
Orca and AVT plan to offer travelers healthy alternatives to the typical high-fat content snacks usually found in vending machines and gift shops, and will feature selections from California Prime Produce, including naturally dried fruits, nuts, and mixes.
"We are pleased to partner with Orca and offer the public a more convenient and healthier product," AVT founder Shannon Illingworth commented. "The 'Automated Gift Shop' is an idea that we helped pioneer, and offers tremendous growth potential for all parties involved."
The new machines will be offering such unique and healthy items as natural mango, sliced kiwi, California dates, papaya and sliced peaches.
Winsor stated that the Orca partnership is due in part to the cutting-edge features of their machines. "We are a technology-driven company, and offer vending machines that provide a variety of solutions for a multitude of industries and products. Our units can be configured to feature cash and/or cashless payment systems, enhanced security, on-board refrigeration and heating, and instant online inventory status reports." He also noted that the "high level of customer service we provide is just another reason why companies continually choose AVT as their vending partner."
AVT Founder Shannon Illingworth and CEO James Winsor Interviewed on CNN Mircocap News
Discussions Focused on the Future Growth Potential and Product Line Superiority
CORONA, CA--(Marketwire - 08/12/10) - AVT, Inc. (formerly Automated Vending Technologies), (Pinksheets:AVTC - News) (http://www.avtinconline.com/)
AVT, Inc., one of the nation's leading providers of automated retailing systems, was recently profiled in two segments on CNN Microcap News. Company founder Shannon Illingworth and company CEO James Winsor were interviewed and asked about the company's past, present and future.
Winsor commented about his expertise as an aerospace engineer and experience with companies that include United Airlines and Chase Manhattan Bank, and said that he was attracted to AVT because it is at the forefront of an industry that is poised for explosive growth. "We have moved from manufacturing vending machines that sell snacks and drinks, to a technology-based company that manufactures systems that allow businesses and entrepreneurs to sell a variety of products -- from cell phones and digital cameras, to video games and clothing -- adding convenience for the customers, along with protection from theft and real-time online inventory management."
Winsor also noted that the company has doubled the size of its headquarters this past year, and nearly doubled the size of their workforce -- bringing teams of manufacturing, mechanical engineering, and software development all in-house.
Company founder Shannon Illingworth talked about the customer experience and stated that while management is getting ready to move the stock to the big boards in the near future, they still focus on delivering the best possible service to their new and existing clients.
"Our customers are key to our success," he stated. "We accelerate the growth of small companies and take today's retailing to the next level -- creating larger distribution, additional revenue streams, and protection from pilferage."
When asked about the growth potential of AVT, Illingworth noted that the company has doubled their revenues in the past year, and is on track to triple revenues next year.
The host of the program commented that he thought the stock was undervalued, perhaps due to the perception that the company is a "mom and pop vending operator," which couldn't be farther from the truth.
In fact, according to Illingworth, AVT has changed the vending industry by utilizing technology that allows operators to use web based management systems to track inventory and monitor cash flow, plus earn additional revenue from highly targeted advertising that can be played on specially designed LCD monitors integrated into the machines.
The company has moved so far from the simple machines that many people think of, that they have coined a new term for their business category... AVT is in the "Automated Retailing Industry," which for AVT, is a fast growing and dynamic industry, indeed.
To view the CNN Microcap News Interviews, simply visit:for the James Winsor interview, http://us.lrd.yahoo.com/SIG=11hu7dond/**http%3A//www.youtube.com/watch%3Fv=nciZD_RTuYI and for the Shannon Illingworth interview,http://www.youtube.com/watch?v=m41qG2PUDqc
For more information on AVT and their advanced vending solutions, please visit the company website at: http://www.avtinconline.com/
ABOUT AVT: AVT, Inc. is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable, yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising, remote tracking, and inventory management. AVT has a strong balance sheet and currently serves more than 300 government and commercial vending accounts.
CORONA, CA--(Marketwire - 08/12/10) - AVT, Inc. (formerly Automated Vending Technologies), (Pinksheets:AVTC - News) (http://www.avtinconline.com/)
AVT, Inc., one of the nation's leading providers of automated retailing systems, was recently profiled in two segments on CNN Microcap News. Company founder Shannon Illingworth and company CEO James Winsor were interviewed and asked about the company's past, present and future.
Winsor commented about his expertise as an aerospace engineer and experience with companies that include United Airlines and Chase Manhattan Bank, and said that he was attracted to AVT because it is at the forefront of an industry that is poised for explosive growth. "We have moved from manufacturing vending machines that sell snacks and drinks, to a technology-based company that manufactures systems that allow businesses and entrepreneurs to sell a variety of products -- from cell phones and digital cameras, to video games and clothing -- adding convenience for the customers, along with protection from theft and real-time online inventory management."
Winsor also noted that the company has doubled the size of its headquarters this past year, and nearly doubled the size of their workforce -- bringing teams of manufacturing, mechanical engineering, and software development all in-house.
Company founder Shannon Illingworth talked about the customer experience and stated that while management is getting ready to move the stock to the big boards in the near future, they still focus on delivering the best possible service to their new and existing clients.
"Our customers are key to our success," he stated. "We accelerate the growth of small companies and take today's retailing to the next level -- creating larger distribution, additional revenue streams, and protection from pilferage."
When asked about the growth potential of AVT, Illingworth noted that the company has doubled their revenues in the past year, and is on track to triple revenues next year.
The host of the program commented that he thought the stock was undervalued, perhaps due to the perception that the company is a "mom and pop vending operator," which couldn't be farther from the truth.
In fact, according to Illingworth, AVT has changed the vending industry by utilizing technology that allows operators to use web based management systems to track inventory and monitor cash flow, plus earn additional revenue from highly targeted advertising that can be played on specially designed LCD monitors integrated into the machines.
The company has moved so far from the simple machines that many people think of, that they have coined a new term for their business category... AVT is in the "Automated Retailing Industry," which for AVT, is a fast growing and dynamic industry, indeed.
To view the CNN Microcap News Interviews, simply visit:for the James Winsor interview, http://us.lrd.yahoo.com/SIG=11hu7dond/**http%3A//www.youtube.com/watch%3Fv=nciZD_RTuYI and for the Shannon Illingworth interview,http://www.youtube.com/watch?v=m41qG2PUDqc
For more information on AVT and their advanced vending solutions, please visit the company website at: http://www.avtinconline.com/
ABOUT AVT: AVT, Inc. is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable, yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising, remote tracking, and inventory management. AVT has a strong balance sheet and currently serves more than 300 government and commercial vending accounts.
Form 10-Q for AVT, INC.
Quarterly Report
ITEM 2. MANAGEMENT'S DISCUSSION, ANALYSIS OF FINANCIAL CONDITION ANDPLAN OF OPERATIONS
The following discussion and analysis should be read in conjunction with our audited consolidated financial statements and related notes included in this registration statement. This registration statement contains "forward-looking statements." The statements contained in this report that are not historic in nature, particularly those that utilize terminology such as "may," "will," "should," "expects," "anticipates," "estimates," "believes," or "plans" or comparable terminology are forward-looking statements based on current expectations and assumptions.
Various risks and uncertainties could cause actual results to differ materially from those expressed in forward-looking statements. Factors that could cause actual results to differ from expectations include, but are not limited to, those set forth under the section "Risk Factors" set forth in this registration statement.
The forward-looking events discussed in this registration statement, the documents to which we refer you and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. For these statements, we claim the protection of the "bespeaks caution" doctrine. All forward-looking statements in this document are based on information currently available to us as of the date of this report, and we assume no obligation to update any forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Intangible asset valuation is a methodical and detailed process that requires the complete understanding of our business, our core competencies and the intangible asset's impact upon our business. We analyze the future income stream associated with the specific asset, the market price of comparable assets, and the current cost to re-create or duplicate an asset.
THE COMPANY
AVT, Inc. is a public company. Our common stock is quoted on the Pink Sheets in the over-the-counter market.
Our primary focus is on the design and manufacture of technology based vending and product dispensing systems which utilize an inventive approach on development, integration of technology, remote management and advertising media. AVT's designs are innovative in that our systems exploit the use of integrated PCs, having internet connectivity among a variety of other components that work in concert with the PC such as, printers, credit card readers, wireless devices, RF modules and just about any peripheral that is capable of connecting to a PC. As a design manufacture, creator of specialty application software and integrator of technology, our products define the cutting edge of the vending and dispensing industry and position us as a leader and industry innovator.
We are also a vending operator having approximately 1,000 vending systems throughout the Los Angeles, Orange and Riverside, California Counties. It is our vending operation experience over the past years that add to the distinctive advantage and overall success as a manufacture and leader of technology based vending solutions. Our executive offices, engineering and manufacturing facility and warehouse are located at 341 Bonnie Circle, Suite 102, Corona, CA 92880. Our telephone number is (951) 737-1057.
We also own and operate a Mexican fast food restaurant, known as AC Mexican Food, Inc. dba, Jalapenos. The restaurant is located in a food court of a retail mall at 20532 El Toro Road, #112, Mission Viejo, CA 92692. The restaurant is a typical Mexican fast food restaurant that operates from mid morning through late evening with the majority of its business being lunch and dinner patrons.
We were originally incorporated under the laws of the State of Delaware on February 25, 1969 as Infodex, Incorporated. In October, 2005, we acquired Automated Vending Technologies, Inc., a Nevada corporation and began focusing our business on vending operations. In December, 2006 we merged our operating wholly owned subsidiary into the parent company and in January of 2008, we changed our state of domicile to the State of Nevada and renamed the company to "AVT, Inc." We operate in the State of California as "AVT Vending, Inc."
THE BUSINESS
AVT, Inc. is an innovative developer, manufacturer and vending operator of technology based vending and product dispensing solutions and equipment that utilize specifically developed patent pending application software developed at and by AVT's software team. We currently employ a workforce of approximately 40 people and services approximately 300 commercial and government vending accounts in Southern California. We design our systems to utilize our patent pending technologies and AVT developed application software to drive our vending innovations which are in various stages of development and deployment. AVT's technology staff ranges from electrical and mechanical engineers to software developers, programmers and IT specialists thereby enabling us to design and control all aspects of our unique products while keeping the "edge" on all of our developed products.
Our business currently focuses on the following:
� Design, development and manufacturing of the RAM 4000 vending machine, a refrigerated beverage/snack combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing of the RAM 5000 vending machine, a high capacity non-refrigerated snack/chip/pastry combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing an attractive, built-in, secure access vending cabinet for hotels that do not have on-site food service. Our AEM� cabinet incorporates patent pending touch-screen to vend or TSV� which replaces both stand-alone machines and in-room locked mini-fridges while providing controlled access and a range of direct customer billing options.
� AVT has developed a variety of customized 'high end" PC based product dispensing systems designed to meet the needs of customers looking to dispense specific products or branded products. Most of these customized products utilize application software developed by AVT's software team to give the unique intuitive operation expected by the customer.
� Many of our custom dispensing systems are derivatives of the AVT RAM 4000 or 5000 base housing having touch screens, front panels and vinyl wrapped housings which are unique or customized to end customer's needs for dispensing "branded" products. For additional attention or attraction, many of the system include large color digital signage. These systems allow a variety of AVT designed technologies to be integrated into the system to meet specific customer needs for a custom dispensing system. Our current high end product dispensing includes the Ivend, 24Hr. Vend Mart, and Tech-Store.
� We developed Patent-Pending, affordable software called VMS� (Vending Management System).VMS� is application software that enables AVT designed and manufactured vending and product dispensing systems to be remotely managed by the vending owners/operators allowing them to receive real time information via the Internet. Our VMS� software also allows for the reporting of cashless payments when the system is equipped with credit card accepting hardware. Together (VMS� software and Credit Card reader) enabling patrons to use credit card or membership card for completing vending transactions.
� We have developed and maintain an application software product for digital signage called AVTI Media�. This application program is in effect a PC media player which is capable of playing all varieties of advertisements specifically designed to be played on PCs which are an integrated into and a part of our dispensing systems offered for sale. Software designed a ads which are played by the integrated PC. The advertisements displayed on highly visible, LCD displays for viewing by the general public. The LCD video panels which are also integrated into our vending systems create a new opportunity for advertisers to reach consumers in a captive setting while generating additional revenue from the sale of software based advertisements.
� TSV (Touch Screen Vending) is our primary flagship application software product. Designed and development by AVT's software staff several years ago, it is like most of today's application software, constantly maintained and in continuous refinement, support and development to remain compatible with and competitive with the ever changing PCs environment. Our TSV software product is the primary foundation for ALL of AVT's touch screen based systems like the RAM 4000 and RAM 5000 to name a few. This application software is modular by design allowing extreme flexibly by our customers allowing them to have a product that is capable providing the system owner a specific "look and Feel" coupled with dispensing their own specific products via the customizable GUI interface.
� Custom Application Software has become one of our principal products and source of revenue generation as well as becoming tangible assets of AVT, Inc. Many of our customers will request a specific sequence of touch screen based pages that allow a user to intuitively navigate through a complete transaction. These screens are defined as the customers "story board" and are in many cases the foundation of a customized sales of our product dispensing systems as it provides our customer with the means of having a low cost method to brand, expand and market their product. All of our customized software projects use a blend of other AVT's developed software IP (intellectual Property) products to complete the project. In example, our software team will create a custom .dll (Direct Library Link) that will interface with or use parts of AVT's TSV or AVTi Media modules (or other) thereby creating a custom software product that is then licensed to the customer buying our dispensing systems. Each system AVT shops will include a paid licensee for use of the TSV, AVTI Media or other as needed.
Our goal is to be the leader in technology based vending and product dispensing solutions that are reflective of today's "got to have it now" consumers. Serving international vending owners and operators whose desire is to have a better experience with vending equipment. We strive to grow our business by developing superior customer solutions, adapting new technologies, and pursuing appropriate mergers and acquisitions. Our growth is dependant upon the development of new technology, the incorporation of advertisement on the vending machines, and the sales of our RAM 4000 and RAMS 5000 systems, the introduction of the next generation Product Dispensing Centers, and the development of revolutionary vending technologies.
Vending History
Vending machines had been introduced to Americans over 70 years earlier by Thomas Adams, who installed them on New York City's elevated train platforms to sell his Chicklets gum. After World War II the vending industry grew twice as fast as the gross national product, driven by three primary factors: rising labor costs made machines an attractive alternative to human laborers; technological advances in food preservation and dispensing equipment permitted service of hot meals, sandwiches, coffee, and soft drinks; and technological advances were made in money-changing equipment. Vendors targeted "captive" markets in factories, offices, schools, and other institutions--a huge market with plenty of potential for growth and competition. The vending industry had achieved $2.5 billion in annual sales by 1960, and with statistics showing that Americans ate one in four meals away from home, vendors and stockbrokers foresaw a fine future for vending.
The Market
The vending industry is a $42 billion domestic market as reported by The Vending Times Census of the Industry 2004. This figure represents the revenues generated by vending owners/operators and excludes office coffee and manual food service. Manual food service represents an additional $10 billion in annual demand for convenience food. Vended Food Products, which include refrigerated, frozen, can/bowl pack, and other meal items represents a $3.1 billion segment. While data on vended frozen foods is not stated specifically, industry sources including Vending Times and The Automatic Merchandiser Magazine concur that frozen food is a growth category while fresh foods are declining. Frozen food machines include ice cream machines as well as frozen entree machines that require an adjacent microwave oven to heat the item.
According to the Vending Times, there are an estimated 1.4 million vending locations throughout the United States situated in manufacturing plants, factories, offices, government buildings, schools, colleges, hospitals and other public locations. These are served by approximately 9,000 vending operators. In addition, there are approximately 52,000 hotels in the United States and 300,000 worldwide according to the American Hotel & Lodging Association (www.ahma.com). There are approximately 6,000 business-oriented hotels with more than 150 rooms, and approximately 14,000 hotels with 75 to 150 rooms. The growth rate for the overall vending market is 5% annually.
Our Products and Services
We have a family of products which are geared towards improving the experience of consumers, establishments, and operators in the convenience food, digital signage and product dispensing industry.
Our current line of products and services are described below.
Automated Express Market
We have developed and created our Automated Express Market (AEM�) system which is Controlled Access Cabinet system. These custom built wood and steel based cabinets are PC based and designated for use in specialized locations such as hotels, Inns, c-stores, malls and retail stores that are limited in the ability to effectively sell and market food, convenience items or higher priced items which are subject to pilfering. The cabinets can be merchandised to dispense more than seventy-two selections including snacks, hot meals, ice cream, alcoholic and non-alcoholic beverages as well as personal amenities such as sunscreen, toothpaste, and brushes. They can also be configured for high ticket items such as cell phones, digital cameras mp3 players personal electronic devise and more. The AEM� system gives the hotel's customers the convenience of billing directly to their room through touch screen pin technology so they do not have to carry cash or coin to make purchases. The system automatically posts the charge to the guest's account by utilizing touch screen vending (TSV�) and multi-payment capabilities. AEM� cabinets have multiple payment options built in that include touch screen payment technology, credit/debit acceptors and smart card readers. We are currently exploring opportunities with many limited service hotel chains in the U.S., a market that totals more than 50,000 establishments as well as c-stores and retail stores and shopping malls.
Media Advertising
We have developed a software product called AVTi Media� which allows for an advertising medium (player) to be added to virtually any of AVT designed systems including AEM� cabinets and all four next generation vending and product dispensing systems. By incorporating AVTI Media, we allow the consumer to view the media, advertising or hotel messaging while they make their selections. AVTi Media can generate advertising revenue for owners and operators in many settings such as conference rooms, hotel lobbies, airport terminals, restaurants, car rental outlets and surgery center waiting rooms. By having vending machines in prominent locations within major companies, the vending operator "owns" the valuable space that can be used to generate advertising revenue through the Digital TV Message Board or (DTVMB) technology. Our Vending Management System software allows for the management of machine inventory, repairs, collections and advertising through remote access. VMS� enables owner/operators to reduce costs and increase profits by enabling real time access to inventory levels, system status, machine service and daily receivables with little to no machine down time.
Vending Management System� (VMS)
Our VMS systems is another AVT developed software product that allows us to remotely view information for each machine to help plan for daily replenishment, sales statistics and alerts of systems malfunctions to operators as well as defect history for each machine by means of software error log files. This technology increases operational efficiency of vending operations and helps to prevent inventory shrinkage and skimming, both major control issues in the vending industry. A key differentiator relative to the offerings of other established players in the vending machine management space is that our VMS solution works via a DSL line cellular modem or Internet Wi-Fi and be substantially less expensive to own and operate than competing systems that do not use the internet for bi-directional transmission of vending system data.
Vend Sensing System (VSS)
We have developed and have a patent pending on our VSS product to provide a surefire solution for detecting all vended items. The VSS was developed specifically to detect that a vending type of product has dropped from one of the dispensing columns directly above the sensing system and has fallen into the customer delivery bin at the base of the vending system.
The VSS is coupled directly with the vending system control electronics in such that the VSS circuitry is disabled until the vending system control electronics has received payment. Once payment has been received and the vending system starts the dispensing process, the control electronics enables the VSS circuitry to detect product which has been dispensed and has dropped into the delivery bin below. During this sensing period, the VSS circuitry is only enabled for the empirical time period it takes to detect any one of the vendible products to fall into the delivery bin.
During the sensing period of time, the VSS circuitry uses an auto-calibrated ultrasonic beam to detect if an object of just about any size, form or shape (designed for detection of any object that can be vended) has fallen into the detectable space of the customer product delivery bin. If an object (vended product) enters the detectable vending space, the VSS circuitry detects the object and in turn sends a "detected" signal to the Control Electronics. If the VSS circuitry does not detect an object has entered the customer delivery bin space within the allotted empirical time frame, the VSS circuitry returns a command signal to the control electronics that a "no vend object detected". It is the control electronics responsibility to determine the next appropriate action to take.
This invention for product detection provides many distinct and exciting advantages over conventional detection. First and foremost, the VSS is calibrated to "look" across the entire cross-sectional area of the delivery bin. This is a primary advantage over the conventional light beam detection method. The detection system is compatible in cost to that of traditional vending detection systems. The "self calibration mode allows the system to be able to retrofit into other vending systems with minimal modification needed.
Vending Machine Manufacturing, Sales and Placements
We currently manufacture next generation refrigerated and high capacity snack machines as well as standard and customized product dispensing systems. These machines have been designed to meet or exceed our specific performance specifications and give us the ability to minimize costs traditionally associated with purchasing new equipment. The manufacturing of our own equipment also allows us to incorporate our technology into the systems during at the time of production reducing the costs associated with retrofitting units. We sell these systems directly to distributors, vending operators and end users located primarily throughout the United States, Canada and Mexico. We believe that we are currently the only manufacturing entity with this capability in the vending industry, giving us a tremendous lead and advantage over our competition.
The major competitive advantages of AVT's next generation machines is they all have the capability of being configured with an integrated PC. The integrated PC allows for a variety of additional functions which include but are not limited to, cashless vending, remote sales management and media advertising for creating additional revenue through the sale and display of advertising play loops. The feature of playing multiple looping advertisements yields the possibility of adding additional stream of revenue which may exceed that of the sales of vended product. Another significant advantage is the ability to plug into a standard 120 VAC household power outlet. As an operator, AVT's experience is that the unit price of a machine and sometimes the required 220VAC circuits for the units represent major constraints to growth of a vending company. Our next generation machines will cut machine acquisition cost by greater than 50% and eliminate expensive power outlet upgrades for establishments and operators increasing placement and sales opportunities. Through the design and manufacturing of vending and product dispensing systems using new technologies, we have become a vendor of equipment for the entire gamete of food and high priced consumer electronics and dispensed items. With capabilities to produce machines that are far less expensive, less power demanding and having multi-pay options other than the traditional market standard, we have the opportunity to grow the mainstream as well as specialty segment of vending machine manufacturing and operations to become a major equipment provider to other distributors, all without a heavy capital investment.
BUSINESS STRATEGY
Manufacturing Capabilities
AVT is a full service developer and manufacture of highly integrated vending and product dispensing systems. Over the past several years, AVT has assembled an integral team of experienced engineers and qualified technicians and software programmers to develop technology based solutions comprised of original and inventive technology and integrating this technology into a line of sophisticated self service products. At the heart of our business is our engineering, manufacturing and creation of inventive and functional application software for use on AVT designed and manufactured systems.
Design: AVT employs a complete design team. Our engineers use creative tools such as "Solid Works" to develop and generate CAD drawings used by our local manufacturing partners as well as our OEM manufacture in China to produce our state of the art vending systems components which are shipped to our 30 thousand square foot facility in Corona, California for integration, assembly, final testing and deployment. A multitude of electrical and software tools are also used to create AVT's proprietary control boards, sensors, and firmware used by all AVT branded product.
Software Development: We also employ a complete software design and development team. Our software products are a key factor to the success, functional operation and financial position of the company. As AVT owned IP, once developed, our software products are sold as a licensed part of every system AVT sells that has been integrated with an optional PC. We design our software products using today's state of the art high level programming environments which produce effective and efficient software programs that are highly flexibly and user friendly while maintaining the elevated degree of complexity and inventiveness that yield a superior and competitive product.
PRODUCTS
The RAM4000 Vending Machine
Our RAM4000 is a refrigerated vending system.. This is a refrigerated snack/beverage combo machine that uses all of our current technology to vend 4 rows of food, beverage, snack and candy or any combination thereof . The RAM4000 is ideal for smaller populated vending accounts, OCS locations and the school segment. The RAM400 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
The RAM5000 Vending Machine
Our RAM5000 machine is our answer to the industry's need for a higher capacity non refrigerated snack machine which utilizes all of our current technology. The RAM5000 vends 5 rows of non-refrigerated snack and candy or any combination thereof. RAM5000 is ideal for smaller populated vending accounts needing a high capacity vending machine, OCS locations and the school segment. Like the RAM4000, the RAM5000 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
Kiosk Systems
In addition to our vending machines, we have incorporated a line of computer and technology based kiosk systems. These kiosks will be deployed in conjunction with our line of RAM vending systems as well as being sold as self service or control center kiosks systems. All kiosks have the ability to be fitted with digital signage which runs our media software products to be come a part of AVTi Media Network.
AVTi Media
AVTi Media is an advertising medium option available basically all AVT products including our next generation vending RAM 4000/5000 vending systems. AVTi Media displays media, advertising, or hotel messaging on video screens located on the vending machine or product dispensing systems.. Consumers may view the media while they make their selections at the vending machine. AVTi Media can generate advertising revenue for owners and operators in many settings. Our target market are surgery centers, health clubs, dentist offices, retail sites, and any organization that has a high-traffic, captive audience that is striving to enhance the experience of their customers.
Fabrication
We fabricate the housing for our vending machines utilizing offshore contract manufacturers. Our final fabrication and assembly is based in Corona, California at our main facility. Local manufacturing includes approximately 10,000 sq/ft of sheet metal fabrication and 15,000 sq/ft of assembly. In-house Fabrication Capabilities include; Sheet Metal Forming, Welding, NC Punching, pot Welding, Machining and Fabrication (Fabrication Programming Software). In-House Assembly Capabilities include; Line Assembly, System Integration, QC Testing, Silk Screening, Operational Testing.
COMPETITION
Manufacturing Competition
We primarily manufacture two vending systems; a refrigerated low capacity machine, the RAM 4000, and a non-refrigerated high capacity vending machine, the RAM 5000. Both of these base models systems can house a variety of AVT designed and integrated technology making either the RAM 4000 or RAM 5000 or any one of the several derivative systems unique with the vending industry. Several of our pending patents may present a potential monopoly within the vending industry thereby forcing other manufacturing competitors to pay us for royalties or licenses fees for use of our patented technologies.
ITEM 2. MANAGEMENT'S DISCUSSION, ANALYSIS OF FINANCIAL CONDITION ANDPLAN OF OPERATIONS
The following discussion and analysis should be read in conjunction with our audited consolidated financial statements and related notes included in this registration statement. This registration statement contains "forward-looking statements." The statements contained in this report that are not historic in nature, particularly those that utilize terminology such as "may," "will," "should," "expects," "anticipates," "estimates," "believes," or "plans" or comparable terminology are forward-looking statements based on current expectations and assumptions.
Various risks and uncertainties could cause actual results to differ materially from those expressed in forward-looking statements. Factors that could cause actual results to differ from expectations include, but are not limited to, those set forth under the section "Risk Factors" set forth in this registration statement.
The forward-looking events discussed in this registration statement, the documents to which we refer you and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. For these statements, we claim the protection of the "bespeaks caution" doctrine. All forward-looking statements in this document are based on information currently available to us as of the date of this report, and we assume no obligation to update any forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements.
Intangible asset valuation is a methodical and detailed process that requires the complete understanding of our business, our core competencies and the intangible asset's impact upon our business. We analyze the future income stream associated with the specific asset, the market price of comparable assets, and the current cost to re-create or duplicate an asset.
THE COMPANY
AVT, Inc. is a public company. Our common stock is quoted on the Pink Sheets in the over-the-counter market.
Our primary focus is on the design and manufacture of technology based vending and product dispensing systems which utilize an inventive approach on development, integration of technology, remote management and advertising media. AVT's designs are innovative in that our systems exploit the use of integrated PCs, having internet connectivity among a variety of other components that work in concert with the PC such as, printers, credit card readers, wireless devices, RF modules and just about any peripheral that is capable of connecting to a PC. As a design manufacture, creator of specialty application software and integrator of technology, our products define the cutting edge of the vending and dispensing industry and position us as a leader and industry innovator.
We are also a vending operator having approximately 1,000 vending systems throughout the Los Angeles, Orange and Riverside, California Counties. It is our vending operation experience over the past years that add to the distinctive advantage and overall success as a manufacture and leader of technology based vending solutions. Our executive offices, engineering and manufacturing facility and warehouse are located at 341 Bonnie Circle, Suite 102, Corona, CA 92880. Our telephone number is (951) 737-1057.
We also own and operate a Mexican fast food restaurant, known as AC Mexican Food, Inc. dba, Jalapenos. The restaurant is located in a food court of a retail mall at 20532 El Toro Road, #112, Mission Viejo, CA 92692. The restaurant is a typical Mexican fast food restaurant that operates from mid morning through late evening with the majority of its business being lunch and dinner patrons.
We were originally incorporated under the laws of the State of Delaware on February 25, 1969 as Infodex, Incorporated. In October, 2005, we acquired Automated Vending Technologies, Inc., a Nevada corporation and began focusing our business on vending operations. In December, 2006 we merged our operating wholly owned subsidiary into the parent company and in January of 2008, we changed our state of domicile to the State of Nevada and renamed the company to "AVT, Inc." We operate in the State of California as "AVT Vending, Inc."
THE BUSINESS
AVT, Inc. is an innovative developer, manufacturer and vending operator of technology based vending and product dispensing solutions and equipment that utilize specifically developed patent pending application software developed at and by AVT's software team. We currently employ a workforce of approximately 40 people and services approximately 300 commercial and government vending accounts in Southern California. We design our systems to utilize our patent pending technologies and AVT developed application software to drive our vending innovations which are in various stages of development and deployment. AVT's technology staff ranges from electrical and mechanical engineers to software developers, programmers and IT specialists thereby enabling us to design and control all aspects of our unique products while keeping the "edge" on all of our developed products.
Our business currently focuses on the following:
� Design, development and manufacturing of the RAM 4000 vending machine, a refrigerated beverage/snack combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing of the RAM 5000 vending machine, a high capacity non-refrigerated snack/chip/pastry combination vending machine containing more sophisticated technology then our competitors and offered at competitive pricing.
� Design, development and manufacturing an attractive, built-in, secure access vending cabinet for hotels that do not have on-site food service. Our AEM� cabinet incorporates patent pending touch-screen to vend or TSV� which replaces both stand-alone machines and in-room locked mini-fridges while providing controlled access and a range of direct customer billing options.
� AVT has developed a variety of customized 'high end" PC based product dispensing systems designed to meet the needs of customers looking to dispense specific products or branded products. Most of these customized products utilize application software developed by AVT's software team to give the unique intuitive operation expected by the customer.
� Many of our custom dispensing systems are derivatives of the AVT RAM 4000 or 5000 base housing having touch screens, front panels and vinyl wrapped housings which are unique or customized to end customer's needs for dispensing "branded" products. For additional attention or attraction, many of the system include large color digital signage. These systems allow a variety of AVT designed technologies to be integrated into the system to meet specific customer needs for a custom dispensing system. Our current high end product dispensing includes the Ivend, 24Hr. Vend Mart, and Tech-Store.
� We developed Patent-Pending, affordable software called VMS� (Vending Management System).VMS� is application software that enables AVT designed and manufactured vending and product dispensing systems to be remotely managed by the vending owners/operators allowing them to receive real time information via the Internet. Our VMS� software also allows for the reporting of cashless payments when the system is equipped with credit card accepting hardware. Together (VMS� software and Credit Card reader) enabling patrons to use credit card or membership card for completing vending transactions.
� We have developed and maintain an application software product for digital signage called AVTI Media�. This application program is in effect a PC media player which is capable of playing all varieties of advertisements specifically designed to be played on PCs which are an integrated into and a part of our dispensing systems offered for sale. Software designed a ads which are played by the integrated PC. The advertisements displayed on highly visible, LCD displays for viewing by the general public. The LCD video panels which are also integrated into our vending systems create a new opportunity for advertisers to reach consumers in a captive setting while generating additional revenue from the sale of software based advertisements.
� TSV (Touch Screen Vending) is our primary flagship application software product. Designed and development by AVT's software staff several years ago, it is like most of today's application software, constantly maintained and in continuous refinement, support and development to remain compatible with and competitive with the ever changing PCs environment. Our TSV software product is the primary foundation for ALL of AVT's touch screen based systems like the RAM 4000 and RAM 5000 to name a few. This application software is modular by design allowing extreme flexibly by our customers allowing them to have a product that is capable providing the system owner a specific "look and Feel" coupled with dispensing their own specific products via the customizable GUI interface.
� Custom Application Software has become one of our principal products and source of revenue generation as well as becoming tangible assets of AVT, Inc. Many of our customers will request a specific sequence of touch screen based pages that allow a user to intuitively navigate through a complete transaction. These screens are defined as the customers "story board" and are in many cases the foundation of a customized sales of our product dispensing systems as it provides our customer with the means of having a low cost method to brand, expand and market their product. All of our customized software projects use a blend of other AVT's developed software IP (intellectual Property) products to complete the project. In example, our software team will create a custom .dll (Direct Library Link) that will interface with or use parts of AVT's TSV or AVTi Media modules (or other) thereby creating a custom software product that is then licensed to the customer buying our dispensing systems. Each system AVT shops will include a paid licensee for use of the TSV, AVTI Media or other as needed.
Our goal is to be the leader in technology based vending and product dispensing solutions that are reflective of today's "got to have it now" consumers. Serving international vending owners and operators whose desire is to have a better experience with vending equipment. We strive to grow our business by developing superior customer solutions, adapting new technologies, and pursuing appropriate mergers and acquisitions. Our growth is dependant upon the development of new technology, the incorporation of advertisement on the vending machines, and the sales of our RAM 4000 and RAMS 5000 systems, the introduction of the next generation Product Dispensing Centers, and the development of revolutionary vending technologies.
Vending History
Vending machines had been introduced to Americans over 70 years earlier by Thomas Adams, who installed them on New York City's elevated train platforms to sell his Chicklets gum. After World War II the vending industry grew twice as fast as the gross national product, driven by three primary factors: rising labor costs made machines an attractive alternative to human laborers; technological advances in food preservation and dispensing equipment permitted service of hot meals, sandwiches, coffee, and soft drinks; and technological advances were made in money-changing equipment. Vendors targeted "captive" markets in factories, offices, schools, and other institutions--a huge market with plenty of potential for growth and competition. The vending industry had achieved $2.5 billion in annual sales by 1960, and with statistics showing that Americans ate one in four meals away from home, vendors and stockbrokers foresaw a fine future for vending.
The Market
The vending industry is a $42 billion domestic market as reported by The Vending Times Census of the Industry 2004. This figure represents the revenues generated by vending owners/operators and excludes office coffee and manual food service. Manual food service represents an additional $10 billion in annual demand for convenience food. Vended Food Products, which include refrigerated, frozen, can/bowl pack, and other meal items represents a $3.1 billion segment. While data on vended frozen foods is not stated specifically, industry sources including Vending Times and The Automatic Merchandiser Magazine concur that frozen food is a growth category while fresh foods are declining. Frozen food machines include ice cream machines as well as frozen entree machines that require an adjacent microwave oven to heat the item.
According to the Vending Times, there are an estimated 1.4 million vending locations throughout the United States situated in manufacturing plants, factories, offices, government buildings, schools, colleges, hospitals and other public locations. These are served by approximately 9,000 vending operators. In addition, there are approximately 52,000 hotels in the United States and 300,000 worldwide according to the American Hotel & Lodging Association (www.ahma.com). There are approximately 6,000 business-oriented hotels with more than 150 rooms, and approximately 14,000 hotels with 75 to 150 rooms. The growth rate for the overall vending market is 5% annually.
Our Products and Services
We have a family of products which are geared towards improving the experience of consumers, establishments, and operators in the convenience food, digital signage and product dispensing industry.
Our current line of products and services are described below.
Automated Express Market
We have developed and created our Automated Express Market (AEM�) system which is Controlled Access Cabinet system. These custom built wood and steel based cabinets are PC based and designated for use in specialized locations such as hotels, Inns, c-stores, malls and retail stores that are limited in the ability to effectively sell and market food, convenience items or higher priced items which are subject to pilfering. The cabinets can be merchandised to dispense more than seventy-two selections including snacks, hot meals, ice cream, alcoholic and non-alcoholic beverages as well as personal amenities such as sunscreen, toothpaste, and brushes. They can also be configured for high ticket items such as cell phones, digital cameras mp3 players personal electronic devise and more. The AEM� system gives the hotel's customers the convenience of billing directly to their room through touch screen pin technology so they do not have to carry cash or coin to make purchases. The system automatically posts the charge to the guest's account by utilizing touch screen vending (TSV�) and multi-payment capabilities. AEM� cabinets have multiple payment options built in that include touch screen payment technology, credit/debit acceptors and smart card readers. We are currently exploring opportunities with many limited service hotel chains in the U.S., a market that totals more than 50,000 establishments as well as c-stores and retail stores and shopping malls.
Media Advertising
We have developed a software product called AVTi Media� which allows for an advertising medium (player) to be added to virtually any of AVT designed systems including AEM� cabinets and all four next generation vending and product dispensing systems. By incorporating AVTI Media, we allow the consumer to view the media, advertising or hotel messaging while they make their selections. AVTi Media can generate advertising revenue for owners and operators in many settings such as conference rooms, hotel lobbies, airport terminals, restaurants, car rental outlets and surgery center waiting rooms. By having vending machines in prominent locations within major companies, the vending operator "owns" the valuable space that can be used to generate advertising revenue through the Digital TV Message Board or (DTVMB) technology. Our Vending Management System software allows for the management of machine inventory, repairs, collections and advertising through remote access. VMS� enables owner/operators to reduce costs and increase profits by enabling real time access to inventory levels, system status, machine service and daily receivables with little to no machine down time.
Vending Management System� (VMS)
Our VMS systems is another AVT developed software product that allows us to remotely view information for each machine to help plan for daily replenishment, sales statistics and alerts of systems malfunctions to operators as well as defect history for each machine by means of software error log files. This technology increases operational efficiency of vending operations and helps to prevent inventory shrinkage and skimming, both major control issues in the vending industry. A key differentiator relative to the offerings of other established players in the vending machine management space is that our VMS solution works via a DSL line cellular modem or Internet Wi-Fi and be substantially less expensive to own and operate than competing systems that do not use the internet for bi-directional transmission of vending system data.
Vend Sensing System (VSS)
We have developed and have a patent pending on our VSS product to provide a surefire solution for detecting all vended items. The VSS was developed specifically to detect that a vending type of product has dropped from one of the dispensing columns directly above the sensing system and has fallen into the customer delivery bin at the base of the vending system.
The VSS is coupled directly with the vending system control electronics in such that the VSS circuitry is disabled until the vending system control electronics has received payment. Once payment has been received and the vending system starts the dispensing process, the control electronics enables the VSS circuitry to detect product which has been dispensed and has dropped into the delivery bin below. During this sensing period, the VSS circuitry is only enabled for the empirical time period it takes to detect any one of the vendible products to fall into the delivery bin.
During the sensing period of time, the VSS circuitry uses an auto-calibrated ultrasonic beam to detect if an object of just about any size, form or shape (designed for detection of any object that can be vended) has fallen into the detectable space of the customer product delivery bin. If an object (vended product) enters the detectable vending space, the VSS circuitry detects the object and in turn sends a "detected" signal to the Control Electronics. If the VSS circuitry does not detect an object has entered the customer delivery bin space within the allotted empirical time frame, the VSS circuitry returns a command signal to the control electronics that a "no vend object detected". It is the control electronics responsibility to determine the next appropriate action to take.
This invention for product detection provides many distinct and exciting advantages over conventional detection. First and foremost, the VSS is calibrated to "look" across the entire cross-sectional area of the delivery bin. This is a primary advantage over the conventional light beam detection method. The detection system is compatible in cost to that of traditional vending detection systems. The "self calibration mode allows the system to be able to retrofit into other vending systems with minimal modification needed.
Vending Machine Manufacturing, Sales and Placements
We currently manufacture next generation refrigerated and high capacity snack machines as well as standard and customized product dispensing systems. These machines have been designed to meet or exceed our specific performance specifications and give us the ability to minimize costs traditionally associated with purchasing new equipment. The manufacturing of our own equipment also allows us to incorporate our technology into the systems during at the time of production reducing the costs associated with retrofitting units. We sell these systems directly to distributors, vending operators and end users located primarily throughout the United States, Canada and Mexico. We believe that we are currently the only manufacturing entity with this capability in the vending industry, giving us a tremendous lead and advantage over our competition.
The major competitive advantages of AVT's next generation machines is they all have the capability of being configured with an integrated PC. The integrated PC allows for a variety of additional functions which include but are not limited to, cashless vending, remote sales management and media advertising for creating additional revenue through the sale and display of advertising play loops. The feature of playing multiple looping advertisements yields the possibility of adding additional stream of revenue which may exceed that of the sales of vended product. Another significant advantage is the ability to plug into a standard 120 VAC household power outlet. As an operator, AVT's experience is that the unit price of a machine and sometimes the required 220VAC circuits for the units represent major constraints to growth of a vending company. Our next generation machines will cut machine acquisition cost by greater than 50% and eliminate expensive power outlet upgrades for establishments and operators increasing placement and sales opportunities. Through the design and manufacturing of vending and product dispensing systems using new technologies, we have become a vendor of equipment for the entire gamete of food and high priced consumer electronics and dispensed items. With capabilities to produce machines that are far less expensive, less power demanding and having multi-pay options other than the traditional market standard, we have the opportunity to grow the mainstream as well as specialty segment of vending machine manufacturing and operations to become a major equipment provider to other distributors, all without a heavy capital investment.
BUSINESS STRATEGY
Manufacturing Capabilities
AVT is a full service developer and manufacture of highly integrated vending and product dispensing systems. Over the past several years, AVT has assembled an integral team of experienced engineers and qualified technicians and software programmers to develop technology based solutions comprised of original and inventive technology and integrating this technology into a line of sophisticated self service products. At the heart of our business is our engineering, manufacturing and creation of inventive and functional application software for use on AVT designed and manufactured systems.
Design: AVT employs a complete design team. Our engineers use creative tools such as "Solid Works" to develop and generate CAD drawings used by our local manufacturing partners as well as our OEM manufacture in China to produce our state of the art vending systems components which are shipped to our 30 thousand square foot facility in Corona, California for integration, assembly, final testing and deployment. A multitude of electrical and software tools are also used to create AVT's proprietary control boards, sensors, and firmware used by all AVT branded product.
Software Development: We also employ a complete software design and development team. Our software products are a key factor to the success, functional operation and financial position of the company. As AVT owned IP, once developed, our software products are sold as a licensed part of every system AVT sells that has been integrated with an optional PC. We design our software products using today's state of the art high level programming environments which produce effective and efficient software programs that are highly flexibly and user friendly while maintaining the elevated degree of complexity and inventiveness that yield a superior and competitive product.
PRODUCTS
The RAM4000 Vending Machine
Our RAM4000 is a refrigerated vending system.. This is a refrigerated snack/beverage combo machine that uses all of our current technology to vend 4 rows of food, beverage, snack and candy or any combination thereof . The RAM4000 is ideal for smaller populated vending accounts, OCS locations and the school segment. The RAM400 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
The RAM5000 Vending Machine
Our RAM5000 machine is our answer to the industry's need for a higher capacity non refrigerated snack machine which utilizes all of our current technology. The RAM5000 vends 5 rows of non-refrigerated snack and candy or any combination thereof. RAM5000 is ideal for smaller populated vending accounts needing a high capacity vending machine, OCS locations and the school segment. Like the RAM4000, the RAM5000 uses our optional Multi-Pay system allows the machine to accept Cash, ATM, and Credit Cards. The system also accepts AVT's optional AVTi Media product and VSS product drop detection system.
Kiosk Systems
In addition to our vending machines, we have incorporated a line of computer and technology based kiosk systems. These kiosks will be deployed in conjunction with our line of RAM vending systems as well as being sold as self service or control center kiosks systems. All kiosks have the ability to be fitted with digital signage which runs our media software products to be come a part of AVTi Media Network.
AVTi Media
AVTi Media is an advertising medium option available basically all AVT products including our next generation vending RAM 4000/5000 vending systems. AVTi Media displays media, advertising, or hotel messaging on video screens located on the vending machine or product dispensing systems.. Consumers may view the media while they make their selections at the vending machine. AVTi Media can generate advertising revenue for owners and operators in many settings. Our target market are surgery centers, health clubs, dentist offices, retail sites, and any organization that has a high-traffic, captive audience that is striving to enhance the experience of their customers.
Fabrication
We fabricate the housing for our vending machines utilizing offshore contract manufacturers. Our final fabrication and assembly is based in Corona, California at our main facility. Local manufacturing includes approximately 10,000 sq/ft of sheet metal fabrication and 15,000 sq/ft of assembly. In-house Fabrication Capabilities include; Sheet Metal Forming, Welding, NC Punching, pot Welding, Machining and Fabrication (Fabrication Programming Software). In-House Assembly Capabilities include; Line Assembly, System Integration, QC Testing, Silk Screening, Operational Testing.
COMPETITION
Manufacturing Competition
We primarily manufacture two vending systems; a refrigerated low capacity machine, the RAM 4000, and a non-refrigerated high capacity vending machine, the RAM 5000. Both of these base models systems can house a variety of AVT designed and integrated technology making either the RAM 4000 or RAM 5000 or any one of the several derivative systems unique with the vending industry. Several of our pending patents may present a potential monopoly within the vending industry thereby forcing other manufacturing competitors to pay us for royalties or licenses fees for use of our patented technologies.
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