LAS VEGAS, NV--(Marketwired - Nov 6, 2014) - Southern ITS International, Inc. (
Greeniosk is complete system that allows Medical Marijuana (MMJ) Dispensaries and Recreational Marijuana (MJ) Dispensaries to document and provide an audit and verification trail of each individual MMJ/MJ dispensary transaction.
The majority of MMJ Dispensaries have limited bank service access mainly due to requirements of the Racketeer Influenced and Corrupt Organizations Act (RICO).
The Greeniosk system incorporates a large physical ATM Kiosk, with a state of the art CRM reporting system that provides a detailed financial transaction audit trail and addresses and resolves issues of the propriety of the dispensary operations.
MMJ Dispensaries currently transact between $250,000 and $5,000,000 in annual revenues. The majority consist of cash transactions, however small numbers of dispensaries accept debit card payments. Because RICO concerns cause the majority of banks to decline dispensary deposits, they also miss out on potential MMJ credit card transactions. Our Greeniosk service provides a level of compliance and auditing for each transaction that will eliminate this impasse. The Greeniosk name and system are protected by USPTO filings for both a trademark and a provisional patent.
Sylvain Desrosiers CEO of SITS commented; "We have received an overwhelming response to our Greeniosk system from the dispensaries that we have visited and should begin installation of our first units in approximately 4 weeks. Our goal is to install over 100 units in the next 6 months. Our Greeniosk system will resolve several problems for the dispensaries including elimination of manipulation of cash by employees while reducing risk of theft, since the Greeniosk kiosk is a 300 pound reinforced locking safe requiring special keys to open. Dispensaries are not required to make a capital investment in the Greeniosk system. SITS will install the system and kiosk, thereafter recovering its costs via a minimal fee for each Marijuana Retail Dispensary transaction."
About Southern ITS International, Inc.
Southern ITS International, Inc. is committed to our mission to provide total systems integration projects and maintain cost effectiveness while providing state of the art technology solutions for a broad spectrum of industries. We are allied globally with leading individuals in Security Technological Development and IT integration.
Southern ITS International, Inc. is committed to our mission to provide total systems integration projects and maintain cost effectiveness while providing state of the art technology solutions for a broad spectrum of industries. We are allied globally with leading individuals in Security Technological Development and IT integration.
Precautionary and Forward-Looking Statements
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www.greeniosk.com