PHOENIX, Feb. 28, 2013 /PRNewswire/ -- Endexx Corporation (OTC Markets: EDXC) announces that due diligence is complete and terms of the technology acquisition from Hayes Pharmacy Inc., are finalized. Endexx, in an all restricted common stock transaction, will purchase and acquire from Hayes Pharmacy Inc. (a Texas Corporation), the exclusive operating technology, intellectual property, marketing and ownership rights to all proprietary pharmaceutical/pharmacy compliance, controls, privacy, verification, Point of Service, taxation and operations platform. The platform is specifically designed to service the medical marijuana industry and long term chronic patient care with Schedule 2 and 3 drugs. The transaction is secured with five million shares of rule(144) restricted stock of Endexx Corporation. Upon satisfactory modifications and customizing of the system by Hayes Pharmacy Inc., lead by Chief Technology Engineer and co developer, Mr. J. Eric Mutter, to meet commercial grade performance standards and service capabilities to the specifications of the pharmaceutical industry and the medical marijuana industry requirements, a second five million rule(144) restricted common shares will be issued to complete the purchase transaction.
Endexx's acquisition partner Timothy Hayes RPH., states, "As a retail pharmacist in the pharmacy industry for 50 years, I recognize the value and importance of management services. The medical marijuana movement (MMM) is indeed experiencing a move from infancy to adolescence. As this development occurs management services are imperative to instill confidence and provide competence to the grower, the prescriber, the dispenser, the user, the tax authority and the regulator. The controls needed by each of these elements are mandatory to manage an industry in its "teen-age" years. I personally am very excited to play role in the growth and management of this still controversial industry. Having a relationship with the Endexx Corporation gives us an opportunity to quickly expand our functioning in all areas of the MMM. Sound investing should be based on scientific evaluation. Our approach through ENDEXX is to provide this science by means of management."
Mr. Hayes added, "Our platform will offer links to each of the elements of the industry to access information helpful in the efficient management of each quadrant. Accounting services, legal services, financial services, news and information, and many other beneficial issues will be available through the portal. Timing is of great essence in any endeavor. We are uniquely positioned because we address every issue objectively to accomplish our goals. Our program developers are on the cutting edge of technology and respond quickly to any changes in the political or regulatory scene with modifications to software for the benefit of each quadrant."
While the system is being modified and upgraded to meet the requirements of the Medical Marijuana Industry, Endexx will be preparing the new website, executive summary and business plan, branding and marketing systems, business and operational plans, and shareholder's awareness and education profiles.
CEO of Endexx, Todd Davis stated, "With Mr. Mutter and Mr. Hayes and their significant experience and expertise in the Pharmacy, Pharmaceutical Technology and Solutions Industry, Endexx will aggressively develop an all encompassing, core platform for the Medical Marijuana Industry." Mr. Davis also stated, "Due to recent challenging economic times, this industry has attracted many highly talented business, scientific and entrepreneurial talents to an explosive economic business boom. Harnessing the talent the industry attracts and providing a collaborative platform for the entire industry will ensure its success over the long term. The industry is currently fragmented and chaotic and Endexx's mission is to provide an open architecture and modular platform for all viable technology innovations, business enhancements, collective political and community organization, and old fashioned American Capitalism."
Contact: Todd Davis CEO
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