LAGUNA HILLS, CA--(Marketwired - May 8, 2014) - Itonis, Inc. (PINKSHEETS: ITNS) today announced that it has signed a letter of intent with Valley Organics Inc. for retail use of MyECheck's patented mobile payment application that will facilitate point of purchase transactions for medical marijuana.
As soon as MyECheck delivers the licensed mobile payment application to Itonis, Valley Organics will be among the first merchant partners to use the proprietary application.
The new mobile app will offer a strong competitive advantage to the massive exploding marijuana dispensary market, facilitating cash-free point of sale transactions between transacting parties in the secure mobile payments industry.
"The delivery of our licensed MyECheck mobile application will allow Itonis to realize transaction fee revenues, and Valley Organics represents the first of many retail merchant contracts that we expect to sign over the next 6 months," said Steve Pidliskey, Itonis' Vice President.
About Valley Organics Inc.
Southern California-owned and licensed medical marijuana co-op and transporting. It collectively facilitates medical marijuana cultivation and transactions by and between its qualified patient members and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as allowed by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).
About Itonis, Inc.
Itonis, Inc. was incorporated in the state of Nevada on July 5, 2005 under the name of Kenshou, Inc., which later changed to Itonis, Inc. on December 2, 2005. Please visit www.itonisholdings.com.
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.