American Green Inc (OTCMKTS:ERBB) and ENDEXX CORP (OTCMKTS:EDXC) have mutually agreed to establish what they referred will become a integrated compliance norm for inventory control and eligibility verification in marijuana vending machines. The two companies plan to manufacture and license a well-integrated and connected interface platform to encourage adoption and standardization by local jurisdictions and regulators in legal markets.
The new agreement between American Green and Endexx requires integration on technology connectivity with the American Green’s Verify Pay point-of-sale using Endexx’s advanced M3Hub inventory management solution. In addition, the two companies want to work the M3Hub platform for third-party vending and POS and systems.
Todd Davis, the Chief Executive of Endexx, said that while working in collaboration with Marijuana Enforcement Division and other local jurisdictions, it has become obvious that an all-inclusive system combining procedures, policy, rules, protocols, and regulations platform is compulsory for firms in the legalized marijuana industry to function within a well-regulated and standardized compliant infrastructure.
On Friday’s trading session, the stock price of American Green slipped 2.58% to close at $0.0945. The problem with the latest announcement is that the new partner of the company is another OTC pink sheet company with a dire financial state. As per the last financial report, Endexx had cash of $7,000. The current liabilities stood at $1.8 million. The quarterly net loss was $122,000 and the revenue in quarter was $6,000. The dire financial state of Endexx is the prime reason behind the lackluster response of investors towards the new deal.
The other details
American Green’s ZaZZZ Network portal website highlights two locations that have ZaZZZ units fully online and activated. The first units in Seattle Caregivers created history as per American Green’s Press Release back on February 3. It has been two months and those machines still are not ‘online’ on the portal site. In addition, there is also no systematic process to manage ZaZZZ customer accounts via the portal.