vendtek systems inc (VSI) Snapshot

Vendtek Systems Inc. announced that it has developed an app for Android devices and it is now available at its eFreshTM web store and at the Google Play store. The eFreshTM Web store allows merchants, retailers, and their clerks to purchase products using a web browser. It is designed to work with a mouse or touch screen on a variety of platforms including PC's, tablets, and smart phones. The new Android app allows a merchant to use any Android device as a point of sale terminal for selling Now Prepay's products.

Vendtek Systems Inc. announced unaudited consolidated earnings results for the first quarter ended January 31, 2013. For the quarter, the company reported loss before finance costs, loss on disposal of assets and foreign exchange loss of CAD 724,332 against CAD 785,880 a year ago. Net loss was CAD 901,151 against CAD 939,058 a year ago. Basic and diluted net loss per common share was CAD 0.02 against CAD 0.02 a year ago. Cash used in operating activities was CAD 187,220 against CAD 940,217 a year ago. Purchases of equipment were CAD 87,638 against CAD 17,682 a year ago. Revenues for the quarter ended January 31, 2013 decreased CAD 3.5 million to CAD 20.8 million, or 14.4% from CAD 24.3 million for the corresponding period in fiscal 2012. Adjusted EBITDA improved to a loss of CAD 0.6 million compared to a loss of CAD 0.7 million for the prior comparable period.

Vendtek Systems Inc., Q1 2013 Earnings Call, Mar 18, 2013