SANTA MONICA, CA--(Marketwired - Apr 17, 2015) - U-Vend, Inc. (
"Our first year of operations demonstrate that our business model has the potential for tremendous success. We added 28 new kiosks and selling locations in the southern California region during the fourth quarter that reflect relationships with well-known consumer product partners. We believe that the seasonality effects we experienced in our Chicago region will be balanced through this geographic expansion into Southern California. Our fourth quarter revenue was consistent with the third quarter at $86,700," stated Raymond Meyers, CEO of U-Vend, Inc.
"In early 2015, we introduced our own consumer product, 'Pucks Premium Ice Cream™', and shortly thereafter, executed an exclusive licensing agreement with the National Hockey League to become the Official Ice Cream of the NHL. For a company that began operations just over 12 months ago I believe we have made significant progress in positioning U-Vend for considerable and sustained growth. I am very excited about the future of this company," added Meyers.
Paul Neelin, U-Vend's COO, stated, "The intelligent self-serve kiosk and merchandising industry is expanding rapidly. The growing acceptance and preferred method of frictionless shopping continues to modify the consumer buying experience, allowing for the escalation of these smart, interactive machines into the mainstream retail environment. It continues to be our focus and passion to become the leader in this market, from a significant brand presence in the retail space, to providing advanced technology and digital advertising solutions to both our product partners and the consumer."
Select Financial Data for Fourth Quarter 2014 and Year Ended December 31, 2014
A full analysis of results for the year ended December 31, 2014 is available in the Company's Form 10-K, which is available on the Company's website at www.u-vend.com or through the Securities and Exchange Commission's Edgar database at www.sec.gov.
ABOUT U-VEND, INC.
U-Vend, Inc. is headquartered in Santa Monica, CA, with additional locations in: Stoney Creek, Ontario Canada, Chicago, IL., Los Angeles, CA. and Las Vegas, NV. U-Vend develops, distributes and markets various "next-generation" self-serve electronic kiosks in a variety of retail locations in North America. The Company owns and operates kiosks and has partnered with numerous national consumer product companies to deliver new and unique customer retail experiences in an automated setting. For more information on U-Vend, visit www.u-vend.com.
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FORWARD LOOKING STATEMENTS
Certain statements contained in this news release regarding matters that are not historical facts may be forward-looking statements. Because such forward-looking statements include risks and uncertainties, actual results may differ materially from those expressed in or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, uncertainties pertaining to market acceptance for the Company's products and services, its ability to succeed in increasing revenues in the near term to attain profitable operations and generate sufficient cash flow from operations, the effect of new competitors in its markets, its integration of acquired businesses, and other risk factors identified from time to time in its filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and current reports on Form 8-K which are available at the SEC's website www.sec.gov. Other factors not currently anticipated may also materially and adversely affect U-Vend's results of operations, financial position, and cash flows. There can be no assurance that future results will meet expectations. While the Company believes that the forward-looking statements in this news release are reasonable, the reader should not place undue reliance on any forward-looking statement. In addition, these statements speak only as of the date made. The Company does not undertake, and expressly disclaims any obligation to update or alter any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Contact Information:
For more information:
Corporate Office
Tel: (855) 55-UVEND
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Investor Relations
Tel: (855) 55-UVEND, ext. 3
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