CAVE CREEK, Ariz., Aug. 7, 2013 /PRNewswire/ -- Endexx Corporation
OTC: EDXC Endexx is proud to announce the acquisition of Dispense
Labs LLC., the innovator and developer of Autospense™ dispense
technologies. This acquisition is a core technology in the M3hub™
technology platform. Autospense™ is a fully secured,
pharmaceutical grade dispensing platform. The inventory control,
tracking system, supply chain management, and security features
provide a multi-point medical marijuana management platform.
From seed to sale, the system fortifies the industry with a
reliable and compliant tracking and inventory control system. The
software system operates both internally and external to the system
and is capable of integrating with multiple operating systems and
specialty functions.
Under terms of the acquisition agreement, Endexx has issued ten
million shares of restricted stock for the purchase of Dispense
Labs LLC., with an additional 5 million shares to be issued upon
Dispense Labs achieving specific performance criteria. Endexx
has also assumed two hundred and thirty five
thousand dollars of long term debt. There are five machines
fully built with sales pending. Dispense Labs and Endexx has
received multiple indications of interest for this technology
solution. Joe DeRobbio will
maintain his position as President of Dispense Labs. Mr. DeRobbio
stated, "With the completion of the sale to Endexx, Dispense
Labs is excited to enter the next phase of business. We now have
the horsepower to aggressively market the machines in those states
where it is legal. Furthermore Dispense Labs is currently
consulting with several clients to provide a complete seed to sale
solution and management platform for their business."
Todd Davis, CEO of Endexx,
stated, " Autospense™ provides the critical infrastructure
component needed to help standardize solid operating systems in the
management of medical marijuana and cannabis based products in
general." During the due diligence phase, Endexx has
identified in excess of sixty thousand unique sites in the United States and Canada where the Autospense™ machine is
applicable. Endexx, in collaboration with Dispense Labs, has
fully researched the current market solutions offered and the
competition and believes the Autospense™ system is the only total
technology solution in the medical marijuana industry. The
Autospense™ solution can easily be integrated with external
software and service solutions as well, allowing for other market
alliances and business partners to utilize this core technology to
support other industry related ancillary services.
About Endexx:
Endexx Corporation is a micro-cap publicly traded company,
representing the interest of its shareholders and collaborating
with independent software developers, scientists, engineers, and
other companies to build businesses that can thrive collectively in
the equity markets. Endexx's team recognizes that individually
small companies with new technologies have an extremely difficult
time sustaining themselves as stand-alone companies. Through our
collaborative practices, individual and group skill sets are better
utilized to develop technology and grow the business, while
centralizing costs and eliminating redundancies.
The Endexx management team and its advisory group each have at
minimum 10-50 years of experience in their respective fields. The
business professionals associated with the direction of the company
all have experience growing businesses, developing and implementing
new technologies and running publicly traded corporations.
Endexx Corporation is ultimately structured to provide a
platform for entrepreneurs to thrive, offering maximum return on
investment through equity ownership in the parent corporation. Each
individual is a shareholder and is encouraged and self-driven to be
successful and contribute to the overall objective of increasing
shareholder value.
About Dispense Labs
Dispense Labs LLC., has spent several years investing in the
research, design and development, and beta testing of Autospense™,
a one-of-a-kind technologically driven smart system that allows for
the automated dispensing of medical marijuana along with precise
inventory control, utilizing predictive analytic algorithm and
tracking software.
Autospense is a uniquely designed, high-tech automated
dispensing system that exceeds industry standards. The software
used is specifically designed to properly control transactions and
manage inventory. This will significantly improve profitability,
accountability, security tracking and customer satisfaction.
Contact Endexx via email to receive corporate news and updates
at Endexx@endexx.com
http://www.otcmarkets.com/stock/EDXC/quote, www.endexx.com,
www.autospense.com
Safe Harbor Statement
This press release contains forward-looking information within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended (the "Exchange Act"), including statements regarding
potential sales, the success of the company's business, as well as
statements that include the word "believe" or similar expressions.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of Endexx to differ materially from
those implied or expressed by such forward-looking statements. This
press release speaks as of the date first set forth above, and
Endexx assumes no responsibility to update the information included
herein for events occurring after the date hereof. Actual results
could differ materially from those anticipated due to factors such
as the lack of capital, timely development of products, inability
to deliver products when ordered, inability of potential customer
to pay for ordered products, and political and economic risks
inherent in international trade.
SOURCE Endexx Corporation