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SOURCE Cyber Kiosk Solutions, Inc.
CORAL SPRINGS, Fla., Feb. 10, 2014 /PRNewswire/ -- Cyber Kiosk Solutions, Inc. (OTC Pink: CYBK) has signed its first agreement with a Company in the marijuana industry named Tranzbyte Corporation (OTC Pink: ERBB) to use our Proprietary Age/id verification and fraud prevention software in their vending kiosks.
CYBK's proprietary software was developed specifically for the legalized marijuana industry. Another similar version of the software from the developer is currently being used in the alcohol and pharmaceutical industry at over 6,000 locations. CYBK recognized the strength of this product from the developer and seized the opportunity to implement a similar software product in the legalized marijuana sector. Cyber Kiosk Solutions expects their software to be one of the first software products to be endorsed by the States to aide in the control and responsible sale of marijuana products. Once the software is live and in successful use, CYBK expects other States to follow.
"The Company's end goal is for the States that have legalized marijuana sales to adopt the use of our software as a standard of control within the legalized marijuana industry," states CYBK's Chief Operating Officer Oren Manelis. He further states, "It is about positioning the Company with a 'first in' advantage by offering a much needed checks and balances software product for the largest, most explosive industry."
Other Company news:
The Company and its CEO have agreed to exchange the CEO's 65 million preferred shares back to common and restrict the newly exchanged common shares for more than a year. The CEO's preferred shares were due to come off restriction next month. CYBK's CEO made the offer and the Company has agreed, to restrict the 65 million common shares until July 1, 2015. The Company raised the authorized shares amount to 200 million to make room for the preferred to common restricted share exchange and for acquisitions/developments in the legalized marijuana industry and other verticals. The Company's CEO states "Exchanging the 65 million shares back to Common and restricting them until July 1, 2015 is the right move for the Company. I am willing to do what it takes to help make our Company successful and increase shareholder value."
The Company has other exciting developments in the legalized marijuana industry to announce in the coming weeks that will strongly position CYBK in the most important area of the legalized marijuana industry.
Progress updates on other business verticals within the company is expected to be released in the coming weeks.
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
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