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U-Vend, Inc. (UVND)
U-Vend, Inc. is a consumer products and automated retailing company. It creates, markets, and sells innovative ice cream and related food products, which undergo distribution to retail markets using different next-generation self-serve electronic kiosks across North America. Established in 2009, U-Vend is based in Santa Monica, California. U-Vend USA LLC established in April 2010. The company also has offices in Ontario, Canada; Orange, California; and Las Vegas, Nevada. U-Vend's shares trade on the OTC Markets Group's OTCQB.
U-Vend owns and operates kiosks. Fundamentally, the company develops, distributes, and markets next-generation self-serve electronic kiosks and merchandisers with a digital advertising component. U-Vend has partnered with numerous national consumer product companies to deliver new and unique customer retail experiences in automated frictionless settings.
The design of all U-Vend kiosks has been to be especially technology-savvy. In some cases, kiosks are wireless, managed on line 24/7, and accept credit and debit cards. In Retail kiosks, a touch screen catalogue is provided for customers to scroll through and review all products being provided in the kiosk.
U-Vend's customer base consists of retail installations, co-branding partnerships, direct sales, and the general population wanting to own their own business. U-Vend end-users include national chains, independent owner operators, big box stores, restaurants, malls, airports, casinos, universities, and colleges, among others. U-Vend offers low-cost investment with the potential for high returns.
U-Vend has four market segments: Environmental, Retail, Service, and Mall/Airport Islands. The company's emphasis is Environmental and Retail. It has designed a Mall and Airport Multipurpose Island.
U-Vend took many of its Self-Serve kiosks and bundled them into an "island", all in one central location. This has created a destination concept within a mall and/or airport setting. The island is always associated with a co-branding anchor as part of the total concept.
In November 2016, U-Vend announced financial results for its fiscal quarter and nine months ended September 30, 2016. Revenues for the three months ended September 30, 2016 grew more than 50 percent to $414,842 versus Revenue of $275,266 for the three months ended September 30, 2015. Net Loss for the quarter ended September 30, 2016 was $953,514 versus a Net Loss of $619,039 for the quarter ended September 30, 2015.
Revenues for the nine months ended September 30, 2016 grew 74.5 percent to $1,089,865 versus Revenue of $624,478 for the nine months ended September 30, 2015. Net Loss for the nine months ended September 30, 2016 was $2,011,864 versus a Net Loss of $1,431,764 for the nine months ended September 30, 2015.
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