LA MIRADA, Calif., Jan. 28 /PRNewswire-FirstCall/ -- Lexon Technologies, Inc. (OTC Bulletin Board: LEXO) today announced the completion of the acquisition of nanoinkjet.com, an established online retailer of recycled inkjet and toner cartridges, the second acquisition of an internet property by Lexon in the last 4 months.
Under the terms of the acquisition, Lexon will acquire the existing business of the website nanoinkjet.com including the web domain and the customer database. Currently, nanoinkjet.com has a customer database of more than 10,000 registered customers and 2009 revenues of approximately $400,000. Further details of the acquisition can be found the in the Form 8-K to be filed on January, 28, 2010 with the U.S. Securities & Exchange Commission.
James Park, CEO of Lexon Technologies, stated: "We are committed to our careful and coherent strategy of growth by acquisition of our online retail operations. Our previous acquisition of 7inkjet.com in November 2009 was a success, as we have witnessed a smooth integration combined with a growth of revenues and profits. We expect the same from this latest acquisition and it will bring Lexon closer to the critical mass necessary for the explosive growth of our online division. We have an infrastructure in place to grow rapidly with our current operations as well as seamlessly integrate new acquisitions regardless of the size of the operation."
Kevin Lee, General Manager of Lexon's E-Commerce Operations, stated that "with this latest acquisition, we now have three established profitable internet retailers. We have a combined customer database of over 50,000 registered customers. By providing high quality products at competitive prices, we will add to our already loyal customer base. Going forward, we will fine tune our efficiencies of our internet businesses while maximizing marketing to attract new customers. Lastly, we will implement creative promotions for our customer base such as loyalty reward programs. We are researching more acquisitions."
About Lexon Technologies, Inc.
Lexon Technologies is an environmentally "Green" company, a manufacturer of recycled toner for laser printers, fax and multifunction copiers. The Company primarily services large retailers and distributors but also has a growing internet division. Lexon has over 350 product lines with product prices generally 30-60% less than original (OEM) toner cartridges. With a product defect percentage of less than 1%, Lexon also offers a 100% guarantee on all of its products.
The company, based in La Mirada, California, (www.ptoner.com), has a 35,000 square foot factory on the premises, 86 employees, and the capacity to manufacture 50,000 cartridges per month and recycles 350 different models of toner cartridges.
Contact: Martin Lupian
Tel: 714 522 0260
SOURCE Lexon Technologies, Inc.