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Innovative Vending Systems (IVS)

Written by Innovative Vending Systems (IVS)

Thursday, 02 August 2007

BUSINESS INVESTOR SIDNEY RUBIN CONFIRMS THE ACQUISITION OF EXCLUSIVE DISTRIBUTION RIGHTS FOR SMARTMECH®,

THE FIRST AND ONLY TAMPER PROOF CASH SALES COLLECTION AND REPORTING SYSTEM FOR THE BULK VENDING INDUSTRY

Innovative Vending Systems (IVS) a Michigan Corporation has acquired the exclusive United States and Puerto Rico distribution rights for SmartMech®, a state-of-the-art cash collection, audit, and reporting technology. With SmartMech®, each vending machine is equipped with a computer chip that provides a detailed audit trail of all cash transactions and a backroom application to manage the sales and inventory process for the bulk vending industry. IVS will also have non exclusive world-wide distribution rights. Terms and amount of transaction were not disclosed.

SmartMech Corporation, a division of the Ronnebegrer Computing Inc., an international software and technology company based in Brighton, Ontario Canada developed the wireless data logging and tamper proof revenue tracking system which is designed to provide accurate, accountable, and timely vending route management information.

“This was not an investment in early or mid stage technology. Ongoing beta testing by IVS during the past two years has allowed the company to reach a high level of comfort with its accuracy” stated investor and Board Chairman, Sidney Rubin. “The system will offer a wide range of positive coin vending machine operating opportunities initially in the bulk vending industry”.

“Until now there has been no practical way to tell how much money is in the vending machines or how long a vending machine has been empty. With the SmartMech® technology it is now possible to detect lost sales opportunities, what product is selling, and the date and time of each sale. The technology acts as an unattended point of sales register providing data and the management tools to enable true merchandising in the bulk vending industry. It gives the vending operator and location owner control over their business to maximize profit potential with verifiable results”, said Rubin.

“Public companies that require controls to account for their cash revenue sales will finally have the reporting system needed to be in compliance with Sarbanes-Oxley” said Andrew Belsky, Chief Financial Officer. “The system definitely insures trust between the vending operator and the retailer or owner”.

Innovative Vending Systems intends to manage and perform multiple business services including sales, consulting, planning and implementation management to the bulk vending industry, coin operators, and locations owners of coin operated vending machines. Innovative Vending Systems’ business and marketing plan is to initially establish a distribution network through out the United States.

“The company is pleased to have the exclusive distribution rights to this very valuable patented technology and looks forward to working and developing new applications for the coin operated machine industry with our Canadian partner”, said Rubin.

The company has also announced that it has received an advanced order for fifty thousand units from First Vending Partners LLC, a nationwide operator of bulk candy vending machines.

Additional information can be obtained by contacting: Andrew Belsky, Chief Financial Officer This e-mail address is being protected from spam bots, you need JavaScript enabled to view it or phone (248) 881-7536

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