The Solution:

VendTek's opportunity lies in making the traditional distribution paradigm of physical cards completely electronic.

VendTek has spent several years developing an electronic distribution software package for prepaid telecommunication and financial services called e-Fresh. It is proprietary, vendor-neutral, customizable, and secure. It allows for the secure transfer of information through electronic POS terminals, self-serve kiosks, WAP enabled phones, ATM machines, and web browsers. It is state of the art and eliminates costly physical cards.

VendTek commercializes e-Fresh under license to companies that create distribution businesses in the telecommunication and financial services markets. The Company's markets are global, but initial installations are in Canada, the US, the UK and China. Typically, e-Fresh enabled POS terminals are sold to a third party that uses them to distribute prepaid airtime via electronic inventory that is stored on a central server rather than in the form of physical cards. The usage is similar to paying a bill by debit card where a keypad is used to select airtime minutes or dollar values. The purchased product is delivered in real time via the POS terminal in the form of a secure PIN number from VendTek's secure server. A printed receipt containing the unique PIN number enables the service activation. Since the PIN number is downloaded in real time, is single use, and doesn't need to be inventoried by the retailer it couldn't be more user friendly and cost effective.

The e-Fresh(tm) system creates significant value through markedly improved efficiency. The physical cards are gone and consumers using e-Fresh terminals benefit from improved convenience and product selection.

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