VinCompass Yearend Report 2017
June 13 2017 - 5:00PM
Marketwired
VinCompass Yearend Report 2017
SAN FRANCISCO, CA-(Marketwired - Jun 13, 2017) - VinCompass®
Corp. (OTC: VCPS) reported on their 10-K Annual Report an operating
loss of $941,244 for the year ending February 28, 2017 as compared
to a loss of $493,557 in the same year ending on February 28,
2016.
Company Updates
VinCompass® continues to invest heavily in its core IP with the
company's development expenses totaling $410,505 as of year ending
February 28, 2017. This represents a growth of 116% as compared to
$189,363 for the same year ending February 28, 2016. By investing
in the further enhancement of its core technology, VinCompass™
seeks to expand the total number of restaurants under management
from 10,000 to 25,000 in 2017. Founder & CEO Peter Lachapelle
said, "Our development expenses since inception have accounted for
62% of the total expenses of the Company, supporting the long term
strategy of investments in core technology for competitive
advantage. One such advantage is the pending Patent for
Recommendation as it uniquely anticipates the VinPrint® (wine DNA
preferences) of members and individually optimizes the
recommendation for them. This eliminates the guesswork of selecting
wines, trial and error experience as well as the lack of
personalization that might happen with simple expert ratings.
Additionally, a major refresh of our website and apps (iOS and
Android) is underway that will provide our customers updated and
broader content coverage, enhancing customer engagement as well as
leveraging alternative member authentication, such as
LinkedIn."
Financial Updates:
VinCompass® continues to focus raising capital to support the
company's IP investments and growth plans. During the year ending
February 28, 2017, a total of $379,500 was secured from third
parties convertible notes and common stock purchases. Additionally
the Company had stock based compensation for third parties of
$130,765 for the year ending February 28, 2017.
VinCompass® continues to have term sheet negotiations with
various third-party Family Offices, Financial Institutions and
Private Individuals. The Company's operating plan proposes a
minimum capital injection of $1,000,000 for the year ending
February 2018, and is also evaluating all equity and debt financing
options; and/or a registration statement for up to $5,000,000. The
additional new capital will be used for go to market, accelerate
monetization such as the Digital Information and Insight business
and increasing working capital.
VinCompass® plans to participate in multiple financial events in
2017 in order to increase investor awareness and to provide updates
on the business and monetization plans. Lachapelle said, "There is
significant leverage in building investor awareness, because many
potential investors are wine consumers who we can help to enjoy
more wine. Having confirmation of this premise with members that
have invested in VinCompass® only emphasized the importance to
broaden the conversations. These combined opportunities are part of
VinCompass' go-to-market plan for both Investor and client
acquisition." New materials will be presented and posted at these
events the Company will announce its participation via press
releases and further information including any materials presented
will be available for download from our website under the Investor
Relations section (www.vincompass.com/investor_relations).
About the Company
VinCompass® (OTC: VCPS) - guiding your wine journey with
personal curation starting in the restaurant - is a wine e-commerce
business that offers a mobile solution designed to guide users
through the wine selection process while providing the convenience
of a personalized wine club and access to private label wines.
Users create a digital blueprint of their wine preferences
(VinPrint®) to overcome the fear and anxiety of selecting wine. In
social settings, VinCompass® matches consumers' wine preferences
with a database of over 1 million wines and wine lists at more than
10,000 restaurants. No other solution solves the annual $12
billion+ restaurant angst sometimes known as "Fear of the Wine
List" (FoWL™). With the consumer's VinPrint® on hand, the
VinCompass® e-commerce solution is a one-to-one wine club that
tailors its monthly offering based on the preferred quality and
tastes of its subscribers on an individual basis. Private label
wines are also available to both corporations and individuals via
VinCompass's e-commerce solution. In the $4 billion annual wine
club and private label business, VinCompass® is the first to apply
predictive analytics to fulfill consumer e-commerce purchases.
VinCompass's mission is to use its patent pending data engine
technology to help everyone enjoy wine more with less effort,
starting in the restaurant and shipping wine to your office or home
in over 40 states.
Safe Harbor Statement
Statements in this press release may be "forward-looking
statements". Words such as "expects," "anticipates," "intends,"
"plans," "believes," "seeks," "estimates," "optimizing,"
"potential," "goal," and similar expressions, as they relate to the
Company, its business or management, are forward-looking
statements. These statements are based on current expectations,
estimates and projections about the Company's business based, in
part, on assumptions made by management. These statements are not
guarantees of future performance and involve risks, uncertainties
and assumptions that are difficult to predict. Actual outcomes and
results may, and probably will, differ materially from what is
expressed or forecasted in such forward-looking statements due to
numerous factors, including those described above and those risks
discussed from time to time in the Company's filings with the
Securities and Exchange Commission.
Contact Information Investor Relations Email: IR@VinCompass.com
Phone:415 - 817 9955 ext 8 Web:
http://www.vincompass.com/investor_relations