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American Green Set to Acquire Rights to Important Intellectual Property for Its Marijuana Vending System
TEMPE, AZ, United States, via ETELIGIS INC., 08/07/2014 – – American Green (OTC Pink: ERBB) (PINKSHEETS: ERBB) has made a move toward securing and expanding its business model regarding age-related purchases via any automated device.The company has entered into an agreement with Robert Tomassi, owner of intellectual property (IP) that pre-dates, and may supersede patents owned by competing companies operating in a similar market space. Mr. Tomassi’s patents, numbered 6,711,465 and 7,493,190 were produced for the purpose of safely vending age-controlled, identity-specific items, all of which fits directly into American Green’s business plan.
While working in a family-related deli 14 years ago, Mr. Tomassi noted the easy access by minors of some controlled substances and was motivated to work on what became his accepted patent in this space. “It seemed like a good idea at the time, though most people thought I was a little crazy. As the market for safe access to controlled substances has increased, perhaps it was just an idea ahead of its time,” says Tomassi of Levittown, PA.
“We are very excited about the opportunities that have been created with our expanding library of intellectual property. This new IP helps us to create a clear path to development upgrades and will ensure the safest, most protected methods are employed. This intellectual property acquisition will also open new, potentially larger opportunities ranging from segment expansion to licensing agreements with collaborators and competitors alike,” added Stephen Shearin, American Green president.
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ABOUT AMERICAN GREEN, INC.
American Green, formally Altitude Organix, became the first publicly-traded medical marijuana dispensary brand in the world. Beginning in 2009, the company has developed retailing, branding, and commercial cultivating strategies in conjunction with its licensed medical marijuana retail dispensaries operating under the Altitude Organic Medicine brand name.While the Company is no longer associated with the Altitude Organic Medicine outlets in Colorado and has replaced the Altitude Organix brand with American Green, it has spent the past 18 months developing an “automated dispensary” that will offer the company’s proprietary products to qualified adults in the US and around the world under its “ZaZZZ” brand.
Tranzbyte, now a wholly-owned subsidiary of American Green, will continue its plan to acquire, hold, or spin out successful divisions in what has been described in previous news releases as “dividend farming,” Companies that qualify and decide to become public on their own will agree to carve out shares for Tranzbyte and dividends for ERBB shareholders.
Tranzbyte also houses the company’s 10-year-old technology division which is actively engaged in the sale of its optical media enhancement products to potential customers in the US and Asia. Products in the Tranzbyte division include FLASHAlbum and FlixStix — technologies that the company plans to be incorporated into the Company’s ZaZZZ Machine while enabling distributors of optical media (CDs, DVDs, etc.) to consolidate the best features of each medium onto a single content-protected USB flash drive.
ABOUT PROXIMARF AND APPLIED RFID
Founded in 2006, Applied RFID and its operating subsidiaries (www.proximarf.com), have a versatile and leading-edge portfolio of RFID reader, sensor tag and data logging products based on the ISO 15693 standard of high frequency (13.56Mhz) RFID.
Once the acquisition agreement with Tranzbyte is finalized (Q2/14), the company has plans to increase its network of global distributors and value-added resellers with plans to incorporate the technology as a tracking system for legal marijuana movements.With its “Proxima RF” line of RFID readers, sensor tags, sensor probes and data logging products, the Company seeks out opportunities with partners who have a unique software offering within market verticals where the implementation of secure data collection and temperature sensing bring real and immediate ROI to users. These key markets include: food safety, cold chain logistics and healthcare/pharmaceutical as well as factory and field maintenance applications.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
Companies and Contacts:
American Green, Inc.
Mr. Stephen Shearin
1221 W Warner Rd Suite 103
Tempe, AZ 85284
Tranzbyte Corporation – Hong Kong
Mr. John Martin
Rm 802, 8/F, Kai Tak Commercial Building
317-319 Des Voeux Road Central,
Hong Kong (SAR)
SOURCE: American Green, Inc.
Source: eTeligis (August 7, 2014 – 2:12 PM EDT)
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