Item 8.01 Other Events
Cautionary note on forward-looking statements
All statements contained in this report, statements made in press releases or in
any place accessible by the public and oral statements that may be made by Noble
Vici Group, Inc. and/or its Subsidiaries or their respective directors,
executive officers or employees acting on behalf of Noble Vici Group, Inc.
and/or its Subsidiaries (as the case may be), that are not statements of
historical fact, constitute "forward- looking statements". Some of these
statements can be identified by forward-looking terms such as "aim", "target",
"anticipate", "believe", "could", "estimate", "expect", "if", "intend", "may",
"plan", "possible", "probable", "project", "should", "would", "will" or other
similar terms. However, these terms are not the exclusive means of identifying
forward-looking statements. All statements regarding Noble Vici Group, Inc.
and/or its Subsidiaries' financial position, business strategies, plans and
prospects and the future prospects of the industry which Noble Vici Group, Inc.
and/or its Subsidiaries is in are forward-looking statements. These
forward-looking statements, including but not limited to statements as to Noble
Vici Group, Inc. and/or its Subsidiaries' revenue and profitability, prospects,
future plans, other expected industry trends and other matters discussed in this
report regarding Noble Vici Group, Inc. and/or its Subsidiaries are matters that
are not historic facts, but only predictions or opinions. These forward-looking
statements are not guarantees of future performance and involve known and
unknown risks, uncertainties, assumptions and other factors that may cause the
actual future results, performance or achievements of Noble Vici Group, Inc.
and/or its Subsidiaries to be materially different from any future results,
performance or achievements expected, expressed or implied by such
forward-looking statements.
Disclaimer
This is an update regarding the Company's introduction of a new product in its
IoT business and is provided for informational purposes only. The information
contained herein is incomplete and does not contain certain material information
about the Company, including important disclosures and risk factors disclosed in
the Company's public reports filed with the Securities and Exchange Commission
at www.sec.gov. This report is not intended to be, nor should it be construed or
used as an offer to sell, or a solicitation of any offer to buy, shares of the
Company. No offer or solicitation of the shares of the Company is being made
herein. The information contained herein is a general update on the business of
the Company, is subject to change without notice, and does not take into account
the particular investment objectives or financial circumstances of any specific
person who may receive it.
Noble Vici Group, Inc. and/or its Subsidiaries does not make or purport to make,
and hereby disclaims, any representation, warranty or undertaking in any form
whatsoever to any entity or person, including any representation, warranty or
undertaking in relation to the truth, accuracy and completeness of any of the
information set out in this report. To the maximum extent permitted by the
applicable laws, regulations and rules, Noble Vici Group, Inc. and/or its
Subsidiaries shall not be liable for any indirect, special, incidental,
consequential or other losses of any kind, in tort, contract or otherwise
(including but not limited to loss of revenue, income or profits, and loss of
use or data), arising out of or in connection with any acceptance of or reliance
on this report or any part thereof by you.
Business Updates
As previously disclosed in our quarterly report on Form 10 Q for the period
ended September 30, 2019, as amended on November 19, 2019, we introduced our
smart coffee dispensing machines (the V-More Express ("VX")) as part of our new
IoT product offerings. This Report is being provided as an update on the
development and progress of the VX.
Background
In developing our IoT business plan, we considered several key strategic factors
(the "VX Strategic Pillars") as follows:
1. Bank and unbanked markets- Will our product be accessible to individuals who
participate/do not participate in modern banking systems?
2. IoT Hardware - Will the smart IoT device deliver core offerings and
"capture" the users?
3. Additional Revenue/Locality AdTech - Will the smart IoT device deliver
additional revenue such as through advertisements focused on consumers
within the proximity of the IoT device?
4. User Acquisition - Will the smart IoT device lead to increased users for our
platform and ecosystem, driving traffic to both online and offline retails?
5. Advertising Dollars Distribution - Will users benefit through discounts,
rebates or sharing of advertising dollars?
6. Pricing - Will pricing of products and services be disruptive to the market
and more broadly accessible to individuals and small businesses?
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Based on internal research and findings, we believe that the opportunity offered
by the VX may help us address these VX Strategic Pillars while being synergistic
with our platform and online to offline/offline to online ("O2O") ecosystem.
IoT Hardware
The VX includes a Smart Digital Panel Advertising Technology and Barista grade
beverage offerings. Other features also include a large interactive touch
screen, 9 types of beverage in an optional hot and ice varieties, 60 litres of
distilled water tank and the capability to produce 400 cups of beverage.
VX Income Pillars
We anticipate the VX to generate revenue as follows:
1. VX IoT Sales - IoT machine sales
2. Core Sales - Product sales
3. AdTech - Advertising income from proximate advertisers
The foregoing description of our business updates is qualified in its entirety
by reference to the VX Presentation which is filed as Exhibit 99.1 to this
Report and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d). Exhibits.
Number Exhibit
99.1 VX Presentation
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