VinCompass 1Q Report FY 2018
July 21 2017 - 4:00PM
Marketwired
VinCompass 1Q Report FY 2018
SAN FRANCISCO, CA-(Marketwired - Jul 21, 2017) - VinCompass®
Corp. (OTC: VCPS) reported on their 10-Q Quarterly Report an
operating loss before extraordinary items such as interest and debt
amortization of $339,878 for the period ending May 31, 2017 as
compared to a loss before extraordinary items such as interest and
debt amortization of $147,111 in the same period ending on May 31,
2016. Net loss for the period ending May 31, 2017 was $879,937 as
compared to $155,060 in the same period ending on May 31, 2016.
Company Updates
VinCompass® continues to invest heavily in its core IP with the
company's development expense growth of 102% having $79,978 as of
period ending May 31, 2017 as compared to $39,530 for the same
period ending May 31, 2016. Investing in enrichments of its core
technology, VinCompass® plans to enhance our pending Patent
technology benefiting from new commercial advancements in Machine
Learning and Artificial Intelligence. This will improve
personalized recommendations that anticipates the VinPrint® (wine
DNA preferences) of members and individually with better optimizing
the recommendation while providing scale and cost efficiencies. We
are on schedule to have a formal update later in the year from the
Patent Trademark Office, as which time we determine to best
strategy of filing for additional Patents applications that we have
developed or possible alternative uses for the IP. The major
refresh of our website and apps (iOS and Android) is nearing
completion and it will provide our customers alternative member
authentication such as LinkedIn, updated and broader content
coverage.
Financial Updates:
VinCompass® continues to focus raising capital to support the
company's IP investments and growth plans. During the period ending
May 31, 2017, a total of $178,500 was secured from third parties
convertible notes and common stock purchases. Additionally the
Company had stock based compensation of $149,900 for the period
ending May 31, 2017.
The VinCompass'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 Company continues
to have advanced discussions and negotiations with various
third-party Family Offices, Financial Institutions and Private
Individuals. The use of funds would support monetization across all
products as well as the Information and Insights in our droves of
data collect over time, from over 10,000 restaurants.
VinCompass® plans to participate in multiple financial events
later in 2017 in order to increase investor awareness and to
provide more updates on the business and monetization plans.
Lachapelle said, "We are looking forward to participating in these
events as a platform to build investor awareness of the VinCompass®
opportunity. There is significant leverage, because many potential
investors are wine consumers who we can help to enjoy more wine.
Creating a combined synergy of VinCompass' go-to-market plan for
both Investor and member acquisition." Any materials presented will
be available for download from our website under the Investor
Relations section
(http://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