Posted in | Consumer Robotics

PCS Edventures Collects $740,000 Robotics Purchase Order

PCS Edventures!.com, a leading provider of K-16 programs focused on Science, Technology, Engineering and Mathematics (STEM), today announced the successful fulfillment, invoicing, and collection of the $740,000 robotics purchase order received on July 16 of this year.

The sale, together with a $560,000 loan that was arranged to finance this order and other Company operating costs was disclosed in an 8-K filed with the SEC on July 19, 2012 and also referenced in a press release dated August 15, 2012.

Leann Gilberg, PCS Edventures CFO, said, "The successful fulfillment of this order and the collection of related funds were completed in September. In addition, the loan disclosed on July 19th, was repaid in full on September 4, 2012."

Robert Grover, PCS Edventures CEO, said, "The fact that PCS can receive an order of this magnitude in early July and have it completely fulfilled and collected by the end of September demonstrates the company's ability to perform for our customers. This was a remarkable team effort by the entire company that resulted in a great success for the company and shareholders."

The program involved the delivery and implementation of afterschool robotics programs into 74 sites in 13 states. Educational robotics kit sales worldwide are projected to exceed $1.6B in 2014 and PCS Edventures is actively pursuing this market. These 74 sites are part of a much larger network of programs that Suzy Haislip, PCS VP of Sales, is personally supporting and working with to expand on this opportunity.



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