TSX Venture Exchange: VSI
VANCOUVER, Nov. 11 /CNW/ - VendTek Systems Inc. (VSI - TSX Venture) (the "Company") would like to provide an update on the restatement of its financial statements for 2006 and 2007 and the filing of its 2008 audited results.
The audits for fiscal years 2006, 2007 and 2008 are substantially complete.
In order to resume trading the Company must complete the following steps:
(1) Finalize the audits and the related disclosure for the financial
statements and the management discussion and analysis.
(2) Submit the above information and an application to the British
Columbia Securities Commission requesting the removal of the Cease
(3) Apply to the TSX Venture Exchange for removal of the trading halt.
The Company is not able to provide a precise timeline to complete the above steps.
The Company is pleased to note that its operations continue to progress domestically and internationally. The Company continues to maintain a strong cash and working capital position.
VendTek develops and licenses automated transaction system software and supporting technologies that improve the efficiency of product delivery, reduce costs to clients and offer superior safety measures. VendTek's customers, its division Now Prepay and its subsidiaries are using e-Fresh(TM) software to build electronic, prepaid services networks, which enable consumers to purchase prepaid services via POS and self-serve terminals connected to a central e-Fresh(TM) server. This system creates significant value through improved efficiencies compared to the traditional distribution paradigm. e-Fresh(TM) reduces shrinkage and inventory requirements while improving consumer access to prepaid services by completely eliminating physical cards and vouchers. For further information please visit the Company's websites www.vendteksystems.com and www.nowprepay.com.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE VendTek Systems Inc.
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