CORONA, Calif., Jan. 20 /PRNewswire-FirstCall/ -- AVT, Inc. (formerly Automated Vending Technologies), (Pink Sheets: AVTC) today announced that it will provide the product dispensing machines to two major partners who have obtained a $100 million contract from the New York City School System. Shannon Illingworth, founder, was interviewed by analyst Francis Gaskins about this news.
The interview in its entirety is available at http://gaskinsco.com/avtc-1-18-10.mp3. In the interview, Mr. Illingworth reveals to IPOdesktop.com that AVT is the preferred vendor in this multi million dollar contract and that the technologies it brings to the marketplace give it a significant competitive edge.
"New York City administrators are very interested in healthy eating. I believe we are being asked to provide our product dispensing systems because, through our technologies, we can provide streaming information that can educate about making healthy, smart food choices," Mr. Illingworth said. "This also showcases AVT, and our visual programs, in a great demographic."
Mr. Illingworth told Analyst Gaskins that the AVT machines will generate more money per machine. "The new technologies we are utilizing, including our remote monitoring that streams information back to the operator, is the foundation of our ability to grow," AVT's founder said.
"We will be providing upwards of 500 units in the first quarter of 2010, significantly increasing revenues and the opportunity to improve our earnings potential," Mr. Illingworth said in the interview, calling the contract the largest traditional vending order ever for AVT. The contract was obtained by Canteen Vending, Compton, California, with 18,500 client sites, America's only national vending company, and Answer Vending, Farmingdale, N.Y., which is known for its cutting edge approach in this sector
ABOUT AVT: AVT, Inc. (Pink Sheets: AVTC) (www.avtinconline.com) is a vending solutions provider based in Corona, California that has developed several significant vending machine technologies that yield a more efficient and reliable yet technically advanced system. This advanced technology provides methods for cashless payment, credit card and debit card use, dynamic advertising with remote tracking and inventory management. AVT has grown privately for five years and has a strong balance sheet with current revenues, inventory and assets. AVT currently serves more than 300 government and commercial vending accounts in Southern California.
SOURCE AVT, Inc.