SAN FRANCISCO, CA--(Marketwired - Jan 17, 2017) - VinCompass™ Corp. (OTC: VCPS) reported in Form 10Q an operating loss of $238,872 for the period ending November 30, 2016 as compared to a loss of $118,773 in the same period ending on November 30, 2015.
VinCompass™ continues to invest heavily in its core IP with the company's development expenses totaling $96,859 as of November 30, 2016. This represents a growth of 117% as compared to $44,574 for the same period in 2015. 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 by the fall of 2017. Founder & CEO Peter Lachapelle said, "Our investment strategy is focused on providing our customers updated and broader content coverage. Additionally, a major refresh of our website and apps (iOS and Android) is underway that enhances customer engagement and that leverages alternative user authentication, like LinkedIn." Formal press release announcements will be made in Q1 2017.
VinCompass™ continues to focus raising capital to support the company's IP investments and growth plans. During the period ending November 30, 2016, a total of $212,280 was secured from third parties convertible notes.
VinCompass™ continues to have active term sheet negotiation with various third-party Family Offices, Financial Institutions and Private Individuals. The Company is evaluating all equity and debt options; uplisting options; and a registration statement for up to $5,000,000 in new capital to accelerate monetization.
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. New materials will be presented and posted at these events. VinCompass™ 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). 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. These combined opportunities are part of VinCompass' go-to-market plan."
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.