VANCOUVER, BC / ACCESSWIRE / August 20, 2014 / On4 Communications, Inc. ("On4") (OTCQB: ONCI) would like to announce that it has entered into discussions with NetCents to acquire the company's Online Gaming Contracts.
On4 wishes to extend the use of their licensing agreement whereby On4 will be entitled to utilize NetCents' Online Gaming Contracts. It is estimated that as of 2014, the online gaming industry will generate over $40 Billion US in revenue. The Online gaming industry has indicated they will be moving toward the exclusive use of cyber-currencies. The management of On4 believes that with their ability to process traditional cash based transactions and digital transactions the company will be well positioned to become a leader in this market segment.
These discussions follow on the announcement of the two companies reaching an agreement in principle to terms of a Licensing Agreement that will allow On4 to use the NetCents platform to process both traditional cash based transactions and crypto or digital based ones as well. On4 will continue to look for other acquisition opportunities in the payment transaction space and specifically the crypto-currency segment.
On4 Communications is a development stage company focused on wireless and online payment technologies. On4 is actively looking for acquisitions and merger opportunities within these industries. The Company is a Development Stage Company, as defined by Financial Accounting Standards Board ("FASB") Accounting Standards Codification ("ASC") 915, Development Stage Entities, and has not yet generated significant revenues from their intended business activities.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements. Actual results may differ materially from those described in forward-looking statements and are subject to risks and uncertainties. See ON4's filings with the United States Securities and Exchange Commission which may identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements.
For further information please contact:
Zouvas Law group
SOURCE: On4 Communications, Inc.