VSI.V - Vendtek Systems Inc

[Jack_Aster]

VSI.V - Vendtek Systems
Most recent financial results, including up to date news releases. This is a restructured tech company with an established clientele basis around the world for prepaid cards, pos systems and other devices. The stock has been rolled back and injected with over $2 million cash from only a couple sources over the last 9 months.

Price: $0.04
Common Shares: 7,264,583 (Now at 16,743,151 after recent placements)
Insider/Institutional Holdings: 80% as per Sedi

Funds Raised in 2015:

1) $150,000 Placement to F3 Capital at 10.5c a share (January 2015)
2) $350,000 Debenture to F3 Capital at 1% interest and 50c exercise price(February 2015)
3) $663,499 Placement at 7c. Mostly F3 Capital, Flipe Ayres and Logistics(June 2015)
4) $1,000,000 Debenture from F3 Capital at 12% interest and 10.5c exercise price(Sept 2015)

Company Websites: and

Quarterly Results, ending April 30th 2015(most recent).

ASSETS
Cash: $117,923 (Now at $1,781,422 after last two placements)
Accounts Receivables: $73,640
Prepaid Expenses: $83,662
Property & Equipment: $71,624
Intangible Assets: $51,124

LIABILITIES
Payables: $1,996,797
Finance Lease: $17,393
Convertible Debenture(Short term): $860,000
Short Term Loan: $790,287
Capital Lease Obligations: $29,720
Long Term Debenture: $861,506

MD&A Highlights

Our principal product is our proprietary eFresh

[Jack_Aster]

VSI Third Quarter Results (Ending July 31 2015)
Price: $0.04
Common Shares: 16,743,151
Insider/Institutional Holdings : 80%

Although the numbers below show a loss in the quarter, the company revenues are increasing year over year while costs are decreasing. As well, the amount of time and capital injection that has occurred over the past 10 months is quite impressive, over $2 million and all from insiders/institutions. There are bigger plans for this company and the market has not recognized it just yet. This leads me to believe that the two institutions and new insiders will keep funding VSI until their goals of profitability have been met. With only a couple million shares in retail hands, some positive news would move this stock quickly.

Financial Results
ASSETS
Cash: $134,089 ($1 million debenture closed in September)
Accounts Receivable: $195,744
Prepaid Expenses: $84,622
Property & Equipment: $83,131
Intangible Assets: $48,119

LIABILITIES
Payables: $2,152,142
Lease: $25,975
Current Convertible Deb: $735,757
Short Term Loan: $764,702
Long-term lease: $14,107
Long Term Debenture: $877,415

Quarter Sales: $391K(Last year $304K)
G&A Expenses: $639K(Last year $820K)
Research: $175K (Last year 196K)
Loss: $544K(Last year $762K)

MD&A Highlights
The Company is principally a software applications and services company. We develop, market and license automated transaction software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior transaction security measures. Our business focuses primarily in the prepaid telecom and financial services industries. We license our software to third parties around the world including countries like Canada, Brazil, Mozambique, England, and the United Arab Emirates.

Our Strategy
Our primary goal is to maximize our revenue by helping our clients to develop their own networks, seeking a higher number of transactions and higher volume of products processed through our eFresh

[Jack_Aster]

VendTek investor F3 Capital acquires $1M debenture

2015-10-08 09:36 MT - News Release

Mr. Felipe Ayres of F3 reports

F3 CAPITAL PARTNERS LTD. ACQUIRES DEBENTURE OF VENDTEK SYSTEMS INC.

On Sept. 2, 2015, F3 Capital Partners Ltd. purchased from VendTek Systems Inc. a $1-million secured convertible debenture with a term of three years, at an annual interest rate of 12 per cent. The second convertible debenture has a conversion price of 10 cents per common share of VendTek.

The acquisition of the second convertible debenture represents an acquisition of approximately 37.39 per cent of the total issued and outstanding common shares (assuming conversion of the second convertible debenture into common shares).

F3, together with the insiders of F3, now owns and controls the second convertible debenture, a total of 6,301,064 common shares, 6,300,064 share purchase warrants of VendTek and a $350,000 secured convertible debenture of VendTek with a term of three years, at an annual interest rate of 1 per cent. These numbers include 358,142 common shares and 357,142 warrants owned and/or controlled by Rodrigo Ayres, a director and the chief operating officer of F3, and 528,571 common shares and 528,571 warrants held by Felipe Ayres, a director and the chief executive officer of F3.

Upon the exercise of the warrants and the conversion of debentures (assuming the convertible debenture is converted in the first year of its term), F3 will hold approximately 65.52 per cent of the total issued and outstanding common shares (67 per cent including the common shares held by insiders of F3).

The securities will be held for investment purposes, and F3, together with any joint actors, may acquire additional securities of VendTek or dispose of their holdings of VendTek securities, in accordance with applicable securities laws as investment conditions warrant.

The second convertible debenture was issued in reliance of the accredited investor exemption set forth in Section 2.3 of National Instrument 45-106, Prospectus and Registration Exemptions.

The early warning report for F3 will be filed on VendTek's SEDAR profile, and a copy can be obtained from Felipe Ayres, chief executive officer, at 1-403-463-1188.

We seek Safe Harbor.