New Nutrition Labeling and Marijuana Laws Pave the Way for AVT to Magnify Growth
- Marijuana industry worth over $2.34 billion and growing fast
- FDA says updating machines for compliance will generate $25.8 million
CORONA, Calif., Jan. 9, 2014 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leader in custom vending machines, automated retailing business opportunities, and kiosks, announced that the new laws that require nutritional information posted on all food and beverage vending machines, and the legalization of medical and recreational marijuana throughout the nation, will create new growth paths for the company.
According to CNN, "The business of legal marijuana is booming," the network reported. "Shares of companies that service the growing cannabis market have been blazing in recent weeks."
AVT provides high-tech storage and dispensing systems used for legal marijuana that include James Bond-like security devices such as biometric fingerprint recognition and identification card matching.
The company also has a contract with a major hotel chain to provide dispensing systems for the new vapor and electronic cigarettes, which are very in demand.
"Many investors are clearly high on the potential for marijuana as an investment," CNN commented.
According to the Huffington Post, the marijuana industry is growing faster than the smartphone market, and is worth at least $2.34 billion.
Additionally, vending operators will have to upgrade or retrofit their systems to comply with Section 4205 of the Patient Protection and Affordable Care Act, which requires vending machines to disclose calorie content for certain items. The new rules will apply to nearly 5 million machines.
According to a story on CBS, this change will mean big profits for some, and big expenses for others. "In the short run, it will not be small change for small businesses to fit their machines to comply with federal guidelines. It's not a label, but software needed to display the information," CBS reported.
AVT is a recognized leader in software development for vending machines and automated retailing solutions. The company's award winning interfaces have generated rave reviews from owners and users alike.
"We can bring machines into compliance with the new regulations," said James Winsor, CEO of AVT, Inc. "Or we can custom create a new solution for any operator, that includes our patented wireless connectivity, cashless payment systems, and a high definition interactive display that not only provides the consumer with nutritional information, but also entertains, engages, and upsells," he added. "Our solutions are completely unique, dynamic and captivating."
To read the CNN article on the growth of companies in the marijuana industry, visit: http://money.cnn.com/2014/01/07/investing/marijuana-stocks/index.html
To read the article in the Huffington Post about the growth of the marijuana industry, visit: http://www.huffingtonpost.com/2013/11/04/marijuana-market_n_4209874.html
To see the CBS story about the new FDA requirements for vending machines, visit: http://www.cbsnews.com/news/calorie-info-coming-to-vending-machines/
For more information on AVT and their industry-leading automated retailing systems, micromarkets, automated malls, custom vending machines, and self-service micro-stores, contact the company at (877) 424-3663, or visit the website at: www.autoretail.com.
SOURCE AVT, Inc.