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VendTek
Systems Inc. develops and licenses software
for the global prepaid and financial services markets. VendTek's
subsidiary Now Prepay is using VendTek's eFresh™ software
in Canada and generating millions of dollars in revenues for
VendTek. The network of more than 8,500 locations demonstrates
the potential of VendTek's software worldwide. VendTek's software
licensing is designed to generate sustainable recurring revenues
in foreign markets primarily from the sale of prepaid telecommunication
and financial services.
VendTek's electronic distribution software, eFresh™ ,
provides electronic infrastructure to retailers and retail distributors,
allowing them to sell electronic products and services more
efficiently. The innovative system eliminates the need for traditional
plastic card and voucher systems thereby reducing inventory
investment, theft and other related costs and enables retailers
to expand product offerings. For consumers, it provides a secure,
convenient means of purchasing prepaid services at point-of-sale
terminals and self-serve kiosks connected to a central eFresh™
server.
eFresh™ can do more; the software can provide activation
and reloading of gift cards and prepaid credit cards. Distribution
of prepaid gaming, entertainment and utilities products are
all viable for distribution using eFresh™. They all present
major markets for VendTek's product offering.
VendTek's subsidiary Now Prepay Corp. uses eFresh™ and
has the largest electronic prepaid services network in Canada
with over 8,500 Canadian merchant locations. This subsidiary
is creating significant value for VendTek, proving the commercial
viability of the company's product and allowing the company
to establish itself as a leader in electronic distribution technologies.
THE APPLICATION
PROCESS
PREPAID SERVICES
DELIVERED VIA RETAILERS TO CONSUMERS...
CARD PRODUCTS ACTIVATED AND LOADED
AT RETAIL LOCATIONS...
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Global pre-pay cellular services market is $100
billion annually and growing at 30 percent per year. |
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Prepaid services have evolved into mainstream
use as major telecommunication companies seek new growth
opportunities. Today, the prepaid cellular (mobile) industry
generates global revenues of more than $100 billion per
year and is growing 30% annually.
The industry is making a rapid transition to technology-based
services. The number of POS (point of sales) terminals
in the market is enabling the introduction of new products
and services which VendTek is providing infrastructure
for. New card based applications such as prepaid credit
cards and gift cards are providing additional markets
for eFresh™ and a source of new revenues for Now
Prepay in the Canadian market.
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Number of POS terminals is expected to double within
the next 12 months. |
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| * Regional growth in
US, UAE and China. |
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Replicate Canadian strategy in U.S. market. |
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| * Continue to develop
licensing markets in Southeast Asia and the Middle
East. |
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Doug Buchanan, President & CEO |
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Peter Read, COO, Now Prepay (subsidiary) |
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Public:
1999
Traded: TSX-V: VSI
Shares Outstanding: 41.2 million
Fully diluted: 43.0 million
Launched Now Prepay: 2002 |
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Revenues:
2003: $11 million
2004: $21 million
2005: $38 million |
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Headquarters:
Port Coquitlam, BC, Canada
Telephone: 1-800-806-4958
Web: www.vendteksys.com
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GROSS
REVENUES AND NET INCOME |
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MILESTONES
& ACHIEVEMENTS |
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2007
May: VendTek
Acquires Go Prepaid.
2006
January:
Reached 8,000 Now Prepay merchants locations
in Canada.
February: Launched
POS terminals in China through Shanghai based partner.
March: Launched
POS terminals in UAE through Abu Dhabi based partner.
March:
Launched Prepaid credit cards in Canada with Mint Inc.
May: Reached
9,000 Now Prepay merchant locations in Canada.
October:
Formed a joint partnership in Beijing to operate a new
company called “Beijing Wanbosi Communication
Co. Ltd.”
November: Reached
10,000 Now Prepay merchant locations in Canada.
December: Established Now
Prepay network in the United States by signing an agreement
with The Brennes-Jones Group Inc.
2005
January: Reached
6,000 Now Prepay merchant locations in Canada.
May: Signed new Canadian
channel partner, Global Payments, one of the world's
leading payment processors.
June:
Reached 7,000 Now Prepay merchant locations
in Canada.
July: Achieved
first profitable quarter and ninth consecutive quarter
of revenue growth.
September:
Launched new service and license agreement in China.
October:
Achieved record annual revenues of $38
million.
November:
Now Prepay partners with Mint Technology
to establish nationwide rollout of prepaid credit cards.
2004
February: Reached
3,000 Now Prepay merchant locations in Canada.
May: Reached
4,000 Now Prepay merchant locations in Canada.
June: Licensed
eFresh to China Pay, China.
June: Licensed
eFresh to Malaysia based customer.
October:
Achieved record annual revenues of $21.4
million and reaches 5,000 sites in Canada.
November:
Licensed eFresh to United Arab Emirates based
customer.
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