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AVT, Inc. Announces Exclusive Agreement to Manufacture 1,000 Product Dispensing Centers for Gotta-Go-Wireless
CORONA, Calif., Nov. 3 /PRNewswire-FirstCall/ -- AVT, Inc. (formerlyAutomated Vending Technologies) (Pink Sheets: AVTC) announced today that ithas signed an exclusive manufacturing agreement with Gotta-Go-Wireless,Baltimore, Maryland, for AVT to manufacture and deliver 1,000 AVT designed andbuilt Product Dispensing Centers (PDC). Details of the contract were notdisclosed although the agreement is in excess of $6 million dollars spreadover a two year deployment schedule.
"The beneficial and lucrative production contract confirms the positionand direction AVT has been headed in leading the way to ensure that technologybased vending systems are commonplace in the US within the next 3-5 years,"stated AVT founder Shannon Illingworth. "The production contract is based onAVT's recently released Tech Store, a dual color LCD display system that is PCbased and utilizes a touch display to dispense a wide variety of products."
Mr. Illingworth said, "The Tech Store PDC will be instrumental intransitioning America's thirst from the 'got to have it now' snack to the 'gotto have it now tech.' Look for AVT's manufactured Tech Stores to become theindustry standard for affordable technology based product dispensing systems."
Karl Stender, founder and CEO of the 5-year-old Baltimore basedGotta-Go-Wireless, stated: "We are very pleased and excited to be workingwith AVT on this hi-tech vending system. Each Tech Store system will look thesame in order to successfully brand and market the image although we will bemerchandising each system according to the needs in specific locations anddemographics. The systems will sell a variety of popular hi-tech itemsincluding cell phones, gaming products and accessories to personal electronicsand devices."
Mr. Stender stressed that, "integrating the large 22" LCD for digitalsignage into the vending machines literally 'nails' the concept of educatingcustomers by using streaming video ads of the product lines and is yet anotherreason why we believe that AVT is the primary company for this productioncontract." He concluded by stating, "Look for the colorful, eye catchingGotta-Go-Wireless systems to be deployed throughout shopping malls andairports over the next 24 months."
ABOUT AVT:
AVT, Inc. (Pink Sheets: AVTC) is a vending solutions provider based inCorona, California that has developed several significant vending machinetechnologies that yield a more efficient and reliable yet technically advancedsystem. This advanced technology provides methods for cashless payment, creditcard and debit card use, dynamic advertising with remote tracking andinventory management. AVT has grown privately for five years and has a strongbalance sheet with current revenues, inventory and assets. AVT currentlyserves more than 300 government and commercial vending accounts in SouthernCalifornia.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statementsand are subject to numerous risks and uncertainties, including the failure tocomplete successfully the development of new or enhanced products, theCompany's future capital needs, the lack of market demand for any new orenhanced products the Company may develop, any actions by the Company'spartners that may be adverse to the Company, the success of competitiveproducts, other economic factors affecting the Company and its markets,seasonal changes, and other risks detailed from time to time in the Company'sfilings with the Securities and Exchange Commission. The actual results maydiffer materially from those contained in this press release. The Companydisclaims any obligation to update any statements in this press release.
Contact: AVT, Inc. James Winsor 951-737-1057SOURCE AVT, Inc.
Mr. Illingworth said, "The Tech Store PDC will be instrumental intransitioning America's thirst from the 'got to have it now' snack to the 'gotto have it now tech.' Look for AVT's manufactured Tech Stores to become theindustry standard for affordable technology based product dispensing systems."
Karl Stender, founder and CEO of the 5-year-old Baltimore basedGotta-Go-Wireless, stated: "We are very pleased and excited to be workingwith AVT on this hi-tech vending system. Each Tech Store system will look thesame in order to successfully brand and market the image although we will bemerchandising each system according to the needs in specific locations anddemographics. The systems will sell a variety of popular hi-tech itemsincluding cell phones, gaming products and accessories to personal electronicsand devices."
Mr. Stender stressed that, "integrating the large 22" LCD for digitalsignage into the vending machines literally 'nails' the concept of educatingcustomers by using streaming video ads of the product lines and is yet anotherreason why we believe that AVT is the primary company for this productioncontract." He concluded by stating, "Look for the colorful, eye catchingGotta-Go-Wireless systems to be deployed throughout shopping malls andairports over the next 24 months."
ABOUT AVT:
AVT, Inc. (Pink Sheets: AVTC) is a vending solutions provider based inCorona, California that has developed several significant vending machinetechnologies that yield a more efficient and reliable yet technically advancedsystem. This advanced technology provides methods for cashless payment, creditcard and debit card use, dynamic advertising with remote tracking andinventory management. AVT has grown privately for five years and has a strongbalance sheet with current revenues, inventory and assets. AVT currentlyserves more than 300 government and commercial vending accounts in SouthernCalifornia.
Forward-Looking Statements
Statements in this press release may constitute forward-looking statementsand are subject to numerous risks and uncertainties, including the failure tocomplete successfully the development of new or enhanced products, theCompany's future capital needs, the lack of market demand for any new orenhanced products the Company may develop, any actions by the Company'spartners that may be adverse to the Company, the success of competitiveproducts, other economic factors affecting the Company and its markets,seasonal changes, and other risks detailed from time to time in the Company'sfilings with the Securities and Exchange Commission. The actual results maydiffer materially from those contained in this press release. The Companydisclaims any obligation to update any statements in this press release.
Contact: AVT, Inc. James Winsor 951-737-1057SOURCE AVT, Inc.
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