V2K Executes $6.1 Million Financing Term Sheet from Strategic Investment Partner
LAKEWOOD, Colo., March 24 // PRNewswire-FirstCall // -- V2K International, Inc. (OTC Bulletin Board: VTOK), announced today that it has received and executed a $6,100,000 financing term sheet from Amerivon Holdings, LLC. (The transaction with Amerivon is subject to the completion of its due diligence and execution of appropriate definitive agreements covering the terms described in the term sheet.) Amerivon helps companies accelerate growth opportunities in mass market retail channels by providing access to distribution, consulting, and capital. The primary use of the investment will be the implementation of V2K's kiosk marketing program into the retail market. V2K has identified over 16,000 retail locations that are potential clients for its kiosk marketing concept.
One of Amerivon's greatest attributes is providing clients an introduction to retail executive decision makers. A few notable introductions have included a partnership with Car Toys, where their company now provides wireless phones and accessories to Costco members from kiosks in all of Costco's US warehouses. Amerivon also assisted a media group in obtaining a distribution agreement with Wal-Mart in over 4,500 stores covering nearly 14,000 kiosks. Amerivon has two other groups in pilots in Sears, Home Depot and Costco with cutting edge kiosk marketing retail programs.
"This is a significant milestone in our company's history," stated Vic Yosha, President & CEO of V2K. "The additional capital is obviously a vital element of our plan to launch our kiosk marketing program. However, receiving the investment capital from Amerivon, who is widely recognized within the industry as a leading expert in this field, and having them be directly involved in the planning, development, and execution of our business plan, is the best investment partner we could have secured."
Kiosk and self-service technology services are a rapidly expanding market. As new technologies bolster and enable the widespread acceptance of interactive kiosk systems, the market is poised for tremendous and significant growth. Specifically, end users have become well-accustomed to interactive kiosk systems and expect self-serve solutions that offer speed, convenience, and functionality.
V2K will launch its kiosk marketing program initially with a large-box retailer at two test sites beginning April 15, 2008. Testing is anticipated to expand thru the summer with an additional 25 kiosks to be rolled out at other locations throughout the US. Concurrently, with the assistance of Amerivon, additional retail concepts are expected to commence utilizing the kiosk marketing program. For more information, please visit us at our web site http://www.v2k.com.
About V2K International, Inc.
Through its wholly owned subsidiary, V2K Technology, V2K develops and licenses proprietary software that is designed to be used in the commercial and home decor markets. Almost anything can be done to the interior of a room utilizing its software. In a three dimensional view, where everything is 100% to scale, the user can add, adjust, color and texture walls, windows, doors, ceilings and floors, and then drag and drop items from a library of products into the scene. V2K Technology licenses a version of the software for custom window treatments to another wholly-owned subsidiary, V2K Window Fashions, which operates the franchise system, V2K Window Decor & More. Using the technology as the centerpiece of a franchise offering, V2K Window Fashions sells and supports franchises in the window fashion industry. V2K currently has approximately 180 franchisees operating in the United States, Canada and Aruba.
Forward Looking Statement Notice: This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission (the "SEC"). All statements, other than statements of historical fact, included in the press release that address activities, events or developments that the company believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made based on experience, expected future developments and other factors the company believes are appropriate under the circumstances. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company and may not materialize. Investors are cautioned that any such statements are not guarantees of future performance. The contents of this release should be considered in conjunction with the warnings, risk factors and cautionary statements contained in the company's recent filings with the SEC, including its Annual Report on Form 10-KSB and Quarterly Report on Form 10-QSB. Furthermore, the company does not intend (and is not obligated) to update publicly any forward-looking statements, except as required by law.
SOURCE V2K International, Inc.