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manufacturer and operator, today announced financial results for 2007 have
been posted at http://www.PinkSheets.com. Results include revenues of $2.34
million, gross profit topping $1.697 million and net income of $240,296.
The Company in its audited filing said cash at December 31, 2007 was
$145,012, up from $16,620 at January 1, 2007. Revenues include $1.17
million from the Company's vending operations and $876,306 from sales of
vending machines. The posting includes the Auditor's Report and complete
financial statements.
"We anticipate revenues and net income to significantly increase in
2008. The 2007 financial results are proof of our ability to generate solid
revenues and profitability in the vending industry," said Tommy Buzbee,
National Sales Manager.
The filing quotes James Winsor, AVT's Director of Engineering and
Manufacturing, that the estimated value of the Company's intellectual
property and developed technology is currently in excess of $15 million,
but that this could increase tenfold if several patents currently pending
are approved.
About Automated Vending Technologies
Automated Vending Technologies has emerged as a leader in integrated
vending solutions company in the competitive vending industry. Since 2001,
the Company has grown from providing vending route operations to a fully
operating company with strategically established partnerships and
subsidiaries. The Company prides itself on not only providing top quality
vending products, but also streaming video through its revolutionary
vending technology.
Automated Vending Technologies, Inc. (Pink Sheets: AVTC) 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 with remote tracking and inventory management. AVTC has grown
privately for five years and has a strong balance sheet with current
revenues, inventory and assets. Automated Vending Technologies currently
serves more than 300 government and commercial vending accounts in Southern
California.
Forward-Looking Statements
Statements in this press release may constitute forward-looking
statements and are subject to numerous risks and uncertainties, including
the failure to complete successfully the development of new or enhanced
products, the Company's future capital needs, the lack of market demand for
any new or enhanced products the Company may develop, any actions by the
Company's partners that may be adverse to the Company, the success of
competitive products, other economic factors affecting the Company and its
markets, seasonal changes, and other risks detailed from time to time in
the Company's filings with the Securities and Exchange Commission. The
actual results may differ materially from those contained in this press
release. The Company disclaims any obligation to update any statements in
this press release.
Automated Vending Technologies, Inc.
Tommy Buzbee (National Sales Director)
951-737-1057
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