News

PSI Corp. expands reach

February 9, 2011

PSI Corp. (Pink Sheets:PSCP) a provider of point-of-purchase kiosks and services, has expanded the presence of its kiosks to several chain supermarkets and convenience stores throughout California, Illinois, Wisconsin, Massachusetts and Pennsylvania.

The company's September 2010 marketing agreement with Midax, Inc. led to the deployments.

As of Dec. 31, 2010, PSI Corp. had installed kiosks in supermarkets throughout the New York City tri-state region including D'Agostino's, Met Foods, Key Food, Associated Supermarket, C-Town, Bravo, Fine Fare and National Supermarkets Association.

Following the roll out, the total amount of kiosks in operation will be 65 nationwide in both supermarket and convenience stores. Deployment is set to begin immediately and be completed by March 15, 2011. In addition, PSI Corp. has entered into a definitive agreement with a national convenience store brand to install kiosks in six convenience stores.

The convenience store model is a test market, according to Eric L. Kash, CEO

"PSI Corp. is entering this retail channel with a number of strategic alliances, who endeavor to ascertain the ability to connect to customers seeking savings," he said in a press release. "One of the relationships is with a major buying group with over 6,200 members and is a marketing consultant to a national chain of 15,000 stores. If the six-store pilot program is successful over a 90-day period, it can lead to an aggressive deployment in the months to come."

PSI Corp. has previously signed agreements for nationwide kiosk installation and maintenance, and has pending agreements with four additional kiosk manufacturers to meet growing demand. PSI Corp.'s kiosk has evolved from an original $27,000 multi-function kiosk with a lead time of 12 weeks to the current $4,100 kiosk with a 6-8 week lead time. With the new cost structure, PSI Corp. can deploy six times as many units for the same capital.