Earlier today Itonis, Inc. went into more detail regarding their proprietary mobile app from MyECheck, Inc. ITNS plans to use the app to introduce an alternative method of payment for the dispensary market.
This mobile app will provide convenience to a market which is currently “cash-only,” due to banking limitations. ITNS plans to see a profit from by charging a fee per transaction. To get an idea of the potential revenue Itonis may see; Colorado’s Joint Budget Committee projects legal marijuana tax revenues to be over $610 million from January 1, 2014 through June 30, 2015 – Marketwired
“We have reviewed the potential revenue stream available from the ever-climbing sales of medical marijuana and see our venture with MyECheck, Inc. as a right move to place the Company in a sector that will generate substantial gains for the Company and its shareholders,”
– Mark Cheung, the Company’s CEO.
What does this mean for ITNS and MYEC? As I said in my last ITNS posting (see here) “Working with MYEC even shows further that ITNS is sliding their hand into the cookie-jar of the billion dollar pot industry.” I have been a fan of MYEC since I was introduced to it about 6 weeks ago and have taken multiple positions in the company (my most recent being about a week ago when it dropped from $0.07 per share). ITNS has made it’s way to the top 5 of my watchlist and I will be moving some funds into in the next few weeks. The marijuana sector will continue to be extremely hot and both MYEC & ITNS have placed themselves in a position to drastically increase their revenue by finding their niche in the industry (see MYEC 2013 earnings).
Rosenberg (OTC Daily)