LOS ANGELES, May 19, 2015 /PRNewswire/ -- AVT, Inc. (OTC Markets: AVTC) (www.autoretail.com), a leading manufacturer of automated retailing systems, announced today that they have been granted 15 claims for its patent from the United States Patent and Trade Office (USPTO).
Patent number US 8,998,082,B2 was granted to AVT for their invention, "A wireless system for managing a plurality of remote vending machines includes an enterprise control center; and a two-way wireless network coupling the enterprise control center and the plurality of remote vending machines. A touch screen may be associated with each of the plurality of vending machines for selecting items to be vended therein, and means for displaying a plurality of advertisements on the touch screen. The touch screen may also include means for paying for the items to be vended within the plurality of vending machines."
According to a report by Frost & Sullivan, the market for "Smart" vending machines will exceed 2 million machines by next year. "With even a relatively small percentage of this market paying a reasonable monthly licensing fee, the revenue potential could be enormous," according to Wayne Salvino, President of AVT, Inc.
AVT management is currently working with advisors to determine how to best monetize the patent.
"We believe that this patent and the rights extended to AVT, provides us with significant marketplace advantages," Salvino commented. "We have many options under consideration to assure optimum utilization of the patent, including enforcement, licensing, sale and partnering," he added. "Whichever course we choose, it will be in the best long-term interests of the company."
For information on AVT, call (877) 424-3663, or visit: www.autoretail.com.
A full text of the patent can be found at: http://goo.gl/KOvm3s
Forward Looking Statements:
This announcement includes "forward-looking statements" within the meaning of the safe harbor provisions of United States securities laws. These statements are based upon current beliefs and expectations of company's management and are subject to significant risks. Forward-looking statements can be identified by terminology such as "believes," "may," "could," or similar expressions. Forward-looking statements involve risks that may cause actual results to be different from those implied by such statements. Forward-looking statements speak only as to the date they are made. The Company does not update forward-looking statements after the date they are made.
SOURCE AVT, Inc.