EnXnet Signed Royalty Agreement With iACTIVECARD
LLC For Sales Of MultiMedia
Gift Card
Tulsa,
OK, October 27, 2010 EnXnet, Inc., (OTCBB Symbol:
EXNT) (German WKN# A0HMDW) is pleased to announce that after receiving the
patent for the ThinDisc technology, EXNT was able to
come to agreement with iACTIVECARD LLC on a royalty
arrangement for the sale of the MultiMedia Gift Card.
The
agreement, signed just recently, is retroactive to August 1, 2010. EnXnet will receive a royalty on each and every MultiMedia Gift Card that is sold. iACTIVECARD
LLC has been success at selling the interactive cards prior to the EXNT royalty
agreement being put in place, and the prospects for continued and growing sales
of the product are strong.
Shareholders
of EXNT will be updated as sales occur.
Due to a confidentiality agreement the amount per card that EnXnet will receive will not be disclosed. However, EXNT
could generate significant revenue with large sales volume of this particular
card.
Ryan
Corley, CEO of EnXnet, Inc., stated, “We have secured
our position with the royalty agreement and expect to begin cash flowing
shortly. I am very excited about not
only this arrangement but the many old and new projects that we have in the
pipeline.”
This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company’s financial results may be found in the company’s filings with the Securities and Exchange Commission.
Ryan Corley, 918-592-0015
Fax: 918-592-0016
investor@enxnet.com
www.enxnet.com