CAVE CREEK, AZ--(Marketwired - May 29, 2013) - Endexx Corporation (PINKSHEETS: EDXC) announced today that it has entered into a definitive agreement to acquire Dispense Labs, LLC. Dispense Labs has a sophisticated inventory management system and client server-based dispensing machine, known as Autospense. Autospense has applications to enhance the processes necessary to provide M3Hub, a division of Endexx, with a reliable and compliant medical marijuana management solution.
"We are determined to provide the most dynamic and functional medical marijuana management platform in the industry," said Todd Davis, CEO of Endexx Corporation. "We intend to work with Dispense Labs President Joseph DeRobbio and his team to maximize the availability of Autospense, the most technologically advanced system to date that meets the needs of the medical marijuana industry and patients. Acquiring Dispense Labs was a strategic decision. As a result, we believe M3Hub is one step closer to being the dominant player in this extremely challenging market."
By incorporating sophisticated software, along with advanced safety and security measures, Autospense is designed and manufactured to dispense medical marijuana while also managing the supply chain. It also provides up-to-the-minute accounting and protects the security of the product, as well as the patient accessing the system. The high-tech machines feature compliance, tracking, accountability, inventory management and a secured client server, all of which were requirements for the M3Hub platform.
"We are pleased to be working with M3Hub and Endexx," said DeRobbio. "This acquisition gives Dispense Labs the capital resources necessary to fulfill our go-to-market strategy. The financial backing will allow us to respond to and meet industry demand for Autospense. Endexx and Dispense Labs are aligned in a shared vision of growth and sustainability. As a result, this acquisition makes our plan executable. In addition, it gives us the ability to migrate the technology into other business environments, as it is an overall solution for a variety of industries."
Moving forward, Dispense Labs will be a division of Endexx Corporation with DeRobbio as its president. Autospense, co-developed by DeRobbio, recently completed its beta-testing process. The technology solution is now being deployed into the clinical market. For more information, please call 800-316-6071.
About Dispense Labs:
Comprised of forward-thinking business leaders, healthcare advocates and technical experts, Dispense Labs LLC is the innovator of Autospense, a fully automated dispensing system that mitigates problems and concerns associated with medical marijuana. Founded in 2009, the company provides innovative solutions and sound business practices in support of social, political, business, law enforcement and community interests. For more information, please call 800-316-6071 or visit www.autospense.com.
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.
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.