American Green Inc (OTCMKTS:ERBB) and Endexx Corporation entered into a collaboration agreement to jointly work on the “Access Control Identification & Verification Vending Platform” (ACIDVP). Each company develops and markets systems to resolve the issues linked to the inventory control and automated dispensing of products demanding eligibility verification in agreement with applicable laws for the growing marijuana Industry.
The objective of collaboration is to co-develop and license a dedicated Integration and Connectivity Interface base to strengthen required industry standardization. The agreement will allow the companies to share business relationships that will be turn into mutual revenue potential source for both companies.
The scope of the deal between American Green and Endexx Corporation constitutes the setting of a unified compliance standard platform for inventory control and verified vending. The standards are required for general adoption by local jurisdictions and regulators in several legal markets. The deal also comprises collaboration on technology connectivity with the integration of company’s “Verify Pay” POS system with Endexx’s M3Hub inventory control and process management system.
The technology collaboration is meant for the joint development, distribution, licensing and marketing of the ‘M3Hub’ universal interface connectivity base for all third parties “Seed-to-Sale,” vending and POS system solutions.
The management view
American Green’s President Stephen Shearin said that defining standard operating programs and guidelines that government units can customize and adopt to offer security and safety while defending the public’s interest will boost technology integration measures and invite “best practices” to the marijuana industry. Endexx team has a successful work experience in similar field.
The deal allows the two companies to move forward toward the mutual objective of promoting ‘smart automation’ in the industry. Endexx’s CEO Todd Davis said that there is a need of an all-inclusive system unifying regulations, rules, policy, protocols and procedures in the legal marijuana industry. In last trading session, American Green stock price declined 5.36% to close at $0.00795 with 23.65 million shares traded.