VANCOUVER, May 6,
2014 /PRNewswire/ - On4 Communications, Inc. ("On4")
(OTCQB: ONCI) would like to announce that it will proceed with
a licensing agreement with NetCents prior to the final merge
between the two companies.
On4 has made substantive progress in reconciling
the company's debt to the point where NetCents management wishes to
move forward. During this period, NetCents has added platform
enhancements that has improved platform scalability and is now able
to provide white label payment processing solutions.
Prior to the final merger between the two
companies being finalized, On4 and NetCents will enter into a
licensing agreement that will allow On4 to begin utilizing the
NetCents payment processing platform and to fulfill on the
company's merchant/retailer obligations.
On4's CEO, Clayton
Moore says, "With the majority of On4's debt settled, the
company can now begin to focus on operations and company
growth." The management of both companies will continue to
work toward finalizing agreements on the remainder of On4's
existing debt.
About On4
On4 Communications is a development stage company
focused on wireless and online payment technologies. On4 is
actively looking for acquisitions and merger opportunities within
these industries. The Company is a Development Stage Company, as
defined by Financial Accounting Standards Board ("FASB") Accounting
Standards Codification ("ASC") 915, Development Stage
Entities, and has not yet generated significant revenues from
their intended business activities.
Forward-Looking Statements
Except for the historical information
contained herein, the matters discussed in this press release are
forward-looking statements. Actual results may differ
materially from those described in forward-looking statements and
are subject to risks and uncertainties. See ON4's filings
with the United States Securities and Exchange Commission which may
identify specific factors that may cause actual results or events
to differ materially from those described in the forward-looking
statements.
SOURCE On4 Communications, Inc.