Business
American Green, Inc.™ (OTC:ERBB) Officially Acquires Vendweb - Supplier of Its AGX Facial Recognition and Over- 21 Age Smart Vending Machine
American Green, Inc.™ (OTC:ERBB) Officially Acquires Vendweb - Supplier of Its AGX Facial Recognition and Over- 21 Age Smart Vending Machine.
About this update from American Green, Inc.
[{"type":"text","content":"\n PHOENIX, AZ, May 17, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire  – American Green, Inc. (OTC:ERBB)  announced today that it has completed the purchase of Vendweb - the North Carolina vending machine company that has been supplying American Green with its proprietary American Green Xpress (AGX)  smart vending machines for the last 5 years. The AGX vending machines have facial recognition and finger vein reader technology certifying over age-21 ID verification which allows the purchase of age-restricted products such as cannabis, CBD, alcohol, casino playing chips, and more. https://www.youtube.com/watch?v=jv2FNLSnvw4 American Green’s president David G. Gwyther said, “The acquisition of Vendweb made great sense for the company for a number of reasons. We now have full control over the smart vending division allowing us to significantly reduce manufacturing, development, and design costs - all of which increase profits. The purchase will allow the company to “fast-track” improvements to the American Green Xpress smart machine and customize it to specifically meet customers' needs.  We have had a number of requests for specific capabilities and functions from the hotel and hospitality industry and the Vendweb acquisition will make it much easier for ERBB to meet the needs of future customers who want custom over-21, age-identifying, facial recognition smart vending applications.” “We are very excited to have Lindel Creed, the founder, and president of Vendweb, on our team. Lindel brings over 20 years of experience in the vending industry and has been fantastic to work with over these past 5 years. The acquisition also includes Vendweb’s general - non-customer-identifying - vending business which managed revenue of $395,000 last year during a tough covid environment.  This includes the manufacture and distribution of machines that vend ice-cold Coca Cola™ and Pepsi Cola,™ snacks, and food, as well as other custom-made vending machines for movie rental companies as well as a multitude of other custom vending applications.  American Green is also looking forward to expanding the vending machine industry vertically which Mr. Creed has over 20 years of experience. The United States vending industry is projected to generate $8.9 billion of annual r...