Cyber Kiosk Solutions Is Taking Steps To Create Multiple Revenue Streams In The Legalized Marijuana Industry
CORAL SPRINGS, Fla., March 5, 2014 /PRNewswire/ -- Cyber Kiosk Solutions, Inc. (OTC Pink: CYBK), hereafter referred to as the "Company" or "CYBK" is pleased to announce that the Company has taken steps to create multiple streams of revenue by leveraging off the Company's relationships in the legalized marijuana industry.
The Company has received commitments from 10 dispensaries across Colorado and New Jersey through its relationship marketing efforts and expects to grow that number significantly throughout 2014. In addition to the dispensaries agreeing to test and use the Company's software and mobile e-wallet consumer ordering app in the near future, they have also agreed to place marijuana kiosks and sell other products over the counter supplied by CYBK. The Company has identified two companies and is in the process of securing Master Distribution Rights and online exclusive sales agreements with the two companies. News and details of the products and agreements are expected to be released within the next 3 weeks.
The Company's consumer e-wallet ordering app will connect smart phone users to the Company's age/ID verification software and allow them to review the dispensaries different products and allow them to pay for them through the mobile app when that service becomes 100% legal. The Company expects this portion of revenues to be the largest of all revenue streams due to transactional and processing revenues of all the dispensaries mobile app customers. The Company's focus is to aggressively expand the app user base into all legalized marijuana states.
Revenue projections for CYBK's business vertical in the legalized marijuana industry, is expected to be released in the coming weeks.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
SOURCE Cyber Kiosk Solutions, Inc.