PHOENIX, AZ--(Marketwired - Mar 31, 2015) - American Green, Inc. (OTC PINK: ERBB) and Endexx Corporation (OTC PINK: EDXC) are pleased to announce the signing of a Collaboration Agreement between the two companies to jointly develop the "Access Control Identification & Verification Vending Platform" aka "ACIDVP." Each company designs and markets systems to address the issues related to the automated dispensing and inventory control of products requiring eligibility verification in compliance with applicable laws for the Marijuana Industry. Together, they will co-develop and license an Integration and Connectivity Interface Platform to foster required industry standardization. The on-going collaboration also enables the companies to share business relationships leading directly to mutual revenue potential for both organizations.
The scope of the collaboration comprises the establishment of a unified compliance standard for inventory control and verified vending for general adoption by regulators and local jurisdictions in multiple legal markets. The agreement also calls for collaboration on technology connectivity with the integration of American Green's "Verify Pay" POS (Point of Sale) system with Endexx's proprietary M3Hub inventory control, tracking, and process management system and for the joint development, marketing, distribution and licensing of the M3Hub universal interface connectivity platform for all third party "Seed-to-Sale," POS systems and vending solutions.
Todd Davis, Endexx CEO stated, "While working with the Marijuana Enforcement Division in Colorado and other jurisdictions, it has become apparent that an all-inclusive system unifying procedures, protocols, policy, rules and regulations platform is mandatory for companies in the legal Marijuana Industry to operate within a standardized compliant infrastructure."
Stephen Shearin, American Green president added, "Establishing standard operating procedures and guidelines that government entities can customize and adopt to provide safety and security while protecting the public's interest will advance technology integration initiatives and invite "best practices" to the industry. Collaborating with the Endexx team, who already have a successful background in a similar arena, enables our two companies to take a giant leap toward our mutual goal of advancing 'smart automation' in the world."
Safe Harbor Notice
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.
About American Green
American Green, Inc., one of the first publicly traded technology companies serving the medical cannabis industry, whose flagship product, the proprietary ZaZZZ Verified VendingTM machine helped professionalize cannabis distribution, has grown over the past six years as a technology leader in all facets of seed-to-sale cannabis and hemp growth. Now it emerges from medical cannabis into sustainable agriculture of all kinds. Its ticker symbol ERBB symbolizes American Green's belief that cannabis will gain great and greater recognition as an herbal alternative to prescription drugs and that sustainable organic food will keep people healthy.
The Company's mission is to remain a leader by leveraging its team of software developers and agritech professionals, as well as value-added companies and products, to develop sustainable agricultural products.
Endexx provides innovative medical marijuana management and technology solutions. The Company has two products that launched in the first half of 2014 -- the m3hub and the AutospenseTM. Both products provide essential solutions to promote regulatory compliance and full accountability through "seed to sale" inventory management and tracking. Based on principles developed by the pharmacological industry, the m3hub database is the first standardized software platform for tracking pharmaceutical grade marijuana to support a Centralized Medical Marijuana Industry Repository and maintain compliance with the laws of the federal government and state and local regulatory bodies. The AutospenseTM is a high-tech marijuana inventory control and dispensing machine, which provides up to the minute accounting details and protects the security of the product as well as the patient. By automating the dispensing process, AutospenseTM increases productivity and reduces costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers.