CAVE CREEK, AZ–(Marketwired – Jan 6, 2015) – Endexx Corporation (OTC PINK: EDXC), a provider of innovative medical marijuana management and technology solutions, is pleased to provide a synopsis of 2014 and forward-looking initiatives for 2015.
While the medical and recreational marijuana industry is ever-changing and still in the nascent stages, creating standards for infrastructure and sustainability are the key drivers behind Endexx’s technology and service solutions. Collaborating with experts in multiple fields has produced pharmaceutical grade compliance and technology support platforms. The Company’s M3hub 1.0 core technology development has been completed. This system provides a compliant framework for tracking every asset, process, plant and human involved in the seed-to-sale life cycle of medical marijuana. Templates and collaboration with experts in growing and regulatory processes are being developed to provide turnkey solutions for regulators, administrators, growers and medical providers. Self-regulation and tracking are the two key elements for an industry to create its own standards. Left to officials, a red tape filled bureaucratic process will surely replace substandard compliance processes. Endexx’s systems provide solutions needed for this vibrant and sustainable growth industry. Moving forward, the M3hub’s future development will include integration of efficiency technologies like the Vuzix wearable computer interface, regulatory API protocols, and turnkey templates.
In 2014, Endexx entered into a collaboration agreement with Vicente & Sederberg, LLC., recently named by Denver’s monthly magazine, 5280, (partners Brian Vicente and Christian Sederberg) as two of the “Top Lawyers 2015” in the category of Government Relations, Contracts, and Lobbying. The team at Vicente/Sederberg has provided Endexx with a transparent and legal pathway to validate their developed technologies, Autospense and M3hub, as potential standards in a rapidly changing legal environment.
First, Endexx has installed and prepared an Autospense (automated dispensing and inventory control) system at Pure Medical Dispensary in Colorado. Pure’s compliance and policy procedures are perfectly suited for testing the system in a transparent environment, inspected and regulated by the Marijuana Enforcement Division (MED) of Colorado. All labeling, packaging, tracking and receipt information protocols are being finalized by the entire team (Pure management, Vicente/Sederberg, and Endexx). Upon completion of this process, an inspection by the MED will be scheduled for further feedback and guidance to procure this critical stage in hopes of creating this as a standard in the medical marijuana industry.
Securing safe and high quality Cannabidiol (CBD) enriched oils and extracts was a significant challenge in 2014. Endexx still has concerns about all the legal processes involved in providing edible, food grade, CBD enriched industrial hemp oil products and is cautiously moving forward with all developments. Early reports, from the recently announced doctor-administered case study of diabetic neuropathy patients in the midwest, is revealing very encouraging reports. A preliminary anecdotal report is expected shortly. Sales on a small scale have been launched of the CBD enriched industrial hemp oil derivative. The customers are providing valuable feedback on all aspects of the product, packaging, delivery system, quality of product and its personal benefits to each individual. Endexx will be launching sales of its initial products in January. The frozen liquid products are entering the final stages of development. The organic flavors are excellent. Working with oil versus water soluble agents to produce organic grade products will determine which “Cannsumable” product will be launched first. Endexx’s policy is to provide the safest and highest quality products available. Testing of all products for all contaminants and percentages of bioactive nutrients is critical for both quality and safety and is adhered to on every batch and lot purchased.
Finally, Endexx announced in 2014, the beginning of its auditing process in preparation to becoming a fully reporting company and position itself for an up-listing in 2015. While the process has taken longer than originally expected, the exercise produced positive developments. In the recently released 10k annual report, the company showed its first revenue from its acquisition of Greenleaf Consulting, LLC. (a wholly owned division) and subsequently has secured significant new consulting contracts for fiscal 2015. While expenses did increase due to acquisitions, product development and investments, total equity improved by $891K to a positive $400K. Total liabilities were decreased by 10% and dilution was only increased by 6% (12.7 million common shares). In conjunction with the audit completing an S-1 and/or Form 10 will be filed with the SEC for both full reporting status and to enable the company to raise the necessary capital to execute the business plan and secure a long term acquisition strategy. As a result, we believe that Endexx is well positioned to generate significant growth and revenue in 2015 and 2016 during the industry’s march to legalization and transparency.
About Endexx 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 Autospense™. 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 Autospense™ 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, Autospense™ increases productivity and reduces costs for marijuana retailers, while enhancing their service quality by reducing transaction time for customers.www.endexx.com, www.m3hub.com, www.autospense.com
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.
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