Business
U-Vend, Inc. Records Second Quarter 2014 Financial Results
U-Vend, Inc. Records Second Quarter 2014 Financial Results.
About this update from American Battery Materials Inc.
[{"type":"text","content":"\n \n \n U-Vend, Inc. Records Second Quarter 2014 Financial Results\n \n \nU-Vend, Inc. Records Second Quarter 2014 Financial Results\n \n SANTA MONICA, CA--(Marketwired - Aug 21, 2014) - U-Vend, Inc. (OTC Pink: UVND) (PINKSHEETS: UVND) (the \"Company\"), a consumer products and technology company driven by innovation that develops, distributes and markets various next-generation self-serve electronic kiosks in a variety of locations including grocery stores, drug stores, mass merchants, malls, and other retail environments across North America today announced the filing of their financial results for the three months ended June 30, 2014.\n \"Although we are at the initial stages in the execution of our business model, which our second quarter financial report reflects, I am very pleased with the initial relationships we've established and with the others that we are cultivating,\" stated Raymond Meyers, CEO of U-Vend, Inc. \"During the first quarter of 2014, we were engaged in the transition of becoming a public company, yet remained focused on our agenda of establishing an initial market presence, which we have done. We are now poised and determined to commence an aggressive and strategic expansion plan throughout North America with our brand partners,\" added Meyers. \n Select Financial Highlights for Three Months Ended June 30th, 2014\n \n \n Revenues for the 2nd quarter were $62,008, versus no revenue in the comparable quarter of 2013.\n \n84% sequential revenue growth over 1st quarter, reflective of a greater installed machine base and better seasonality for ice cream product sales. \n \nGross margins remained consistent in the 45% range.\n \nCoupled with ongoing start-up expenses, the Company reported a loss of ($0.07) per share for the second quarter. \n \n \n \"Our revenues are growing, our gross profit margins remain healthy and we have entered into an industry that offers significant opportunities for our company. We are targeting sizable market share in consumer retail sectors whose members are demanding ease of use, convenience and 24/7 access, the same value propositions that our product offerings deliver. We couldn't ask for a better environment in which to conduct business,\" said Paul Neelin, U-Vend, Inc. founder and COO. \n A full analysis of results for the period ended ...