Business
U-Vend, Inc. Announces Record 2015 Financial Results
U-Vend, Inc. Announces Record 2015 Financial Results.
About this update from American Battery Materials Inc.
[{"type":"text","content":"\n \n \n U-Vend, Inc. Announces Record 2015 Financial Results\n \n \nU-Vend, Inc. Announces Record 2015 Financial Results\n\nCompany Increases Revenue by Over 300%\n\n \n SANTA MONICA, CA--(Marketwired - May 3, 2016) - U-Vend, Inc. (OTCQB: UVND) (the \"Company\"), a consumer products and technology company that develops, distributes, and markets next-generation self-serve electronic kiosks and merchandisers with a digital component across North America, today announced the financial results for the Company's fiscal year ended December 31, 2015. \n \"While I am pleased that we were able to increase our 2015 year over year revenues by over 332%, I am equally pleased with our operational performance supporting the continued implementation of the robust business foundation needed to support the continued expansion of our business model,\" stated Raymond Meyers, CEO of U-Vend, Inc. \"As we anticipate introducing and penetrating the market with our Frozen Pond™ Premium Ice Cream product, the Official Ice Cream of the NHL®, and secure sizable retail and wholesale distribution partners, we expect to continue to meet our internal goal of period over period revenue growth. The globally-recognized brand partnerships we have been able to establish, the creative consumer products we are developing; coupled with the geographical expansion of our retail self-serve kiosk and merchandiser locations, provide us with tremendous long-term opportunity,\" added Meyers. \n Select Financial Data Year Ended December 31, 2015\n \n \n Revenues for the twelve months ended December 31, 2015 increased 332% to $891,227 as compared to revenue of $268,804 for the twelve months ended December 31, 2014\n \n \n Gross profits for the year ended December 31, 2015 increased 386% to $351,228 as compared to gross profit of $90,965 for the year ended December 31, 2014 \n \n \n Gross margin for the year ended December 31, 2015 increased to 39.8% as compared to gross margin of 33.8% for the year ended December 31, 2014 \n \n \n Net loss for the year ended December 31, 2015 increased 2.4% to $2,050,574 as compared to a net loss of $2,002,586 for the year ended December 31, 2014 \n \n \n Basic and diluted net loss per share of ($0.15) per common share for the twelve months ended December 31, 2015 compares to the ($0.23) net loss per common share for the twelve mo...