CAVE CREEK, Ariz., Aug. 12, 2013 /PRNewswire/ -- Endexx Corporation OTC: EDXC. Endexx, through its wholly owned subsidiary, Dispense Labs LLC., has secured its "Supply Agreement" and its Intellectual Property "Licensing Agreement" with AutoCrib Inc. This agreement ensures International Exclusive rights for the Autospense™ tracking, inventory control, dispensing technology platform for the Marijuana and Cannabis industries. The AutoCrib 1000™, in Joint Collaboration between AutoCrib Inc. and Dispense Labs LLC. was specifically adapted and designed as a pharmaceutical grade dispense system for both the medical marijuana and recreational markets, as well as, edibles, concentrates, delivery systems, tobacco products, vaporizers, electronic cigarettes and other related products. These agreements solidify a long term and secure business partnership between Endexx Corporation's, Dispense Labs LLC., and AutoCrib Inc.
The Autospense™ system provides the capability to dispense a wide variety of objects or packages. Depending on their size, Autospense™ can manage approximately 800- 1000 individual packaged items for dispensing. The system also accepts US currency, credit and debit cards, and stored value devices. Autospense™ provides a complete user interface platform allowing patients/customers to visually select their chosen items, by price, brand, use and quantity. A full photo library and descriptions of each item assists a patient/customer in purchasing exactly what they need or prefer through an interactive touch screen. The system also provides patient/member verification tools, i.e., biometric fingerprinting, providing protection for the dispensary, retail outlet or health clinic dispensing cannabis related products. Endexx, through Dispense Labs LLC., is now planning, designing and securing access to external technologies and services for a complete enterprise suite platform that enhances the seed to sale tracking, transaction, accountability and compliance solutions for the rapidly growing marijuana industry.
The Autospense™ solution can be implemented at every point in the supply chain of the marijuana plant: seed, grower, harvest, processing, testing, transportation, pain clinic, alternative medicine facilities, dispensing, inventory control, law enforcement, compliance, Doctors, caregivers, patient possession and the sale. This total solution technology protects the patient/customer and ensures a safe and compliant product. The technology provides a full compliance package for all handlers of the product from seed to sale. Through standardization, Endexx, Dispense Labs, and the M3Hub will foster and nurture a sustainable growth industry.
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. 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. The Autospense™ system is the only total technology solution in the medical marijuana industry today.
Contact: Todd Davis at Todd.Davis@endexx.com
Contact Endexx via email to receive corporate news and updates at Endexx@endexx.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