EnXnet, Inc. Announces Manufacturing/Royalty Agreement with Interactive Affinities
Under the terms of the agreement,
Interactive Affinities will be marketing a patented "Interactive
Transaction Card" which incorporates EnXnet's
proprietary ThinDisc(c) technology. Furthermore,
Affinity will focus on the sale of the transaction card to a variety of
commercial customers, including the "open loop" market, where they
can be redeemed at most locations that accept major credit cards. The
transaction card will be manufactured by EnXnet,
featuring a distinctive oval shape and sold by Interactive Affinities as a
branded product under the trade name "SurfCard"(TM).
This Agreement complements the
Company's previously announced contract to supply ThinDisc(c)
technology products to One28 ("One28") Marketing Group, a licensed
Interactive Affinities vender of stored value interactive transaction cards,
and further establishes EnXnet as one of the
industry's leading providers of technology enhanced, value-added storage cards.
One28 is currently marketing its interactive card under the brand name MoxyCard(TM).
Combining
the functionality of a standard credit card, with the convenience of a stored
value card, by incorporating a magnetic stripe and advanced CD/DVD technology as
a storage medium, SurfCard(TM) represents a
significant breakthrough, empowering both the merchant and the consumer by
allowing for the inclusion of exclusive marketing promotions, special product
offers, in the form of multi-media presentations and information. The SurfCard(TM) can fit seamlessly in the disc drive of any
standard personal computer for viewing. The innovative merger of these two
technologies is certain to transform today's "inanimate" gift cards
into a dynamic, "animated" interactive marketing tool and
entertainment medium that engages, informs and compels the consumer to make
increased purchases.
Robert
Burnett, President and founder of Interactive Affinities, Inc. commented,
"Partnering with EnXnet brings forward thinking
optical disc technological answers and international production savvy important
to the success of the business opportunity created by the patented Interactive
Transaction Card."
According
to the National Retail Federation (NRF) gift cards ranked third on consumers'
"wish list" this year. And, the desire for gift cards is exploding.
The average consumer will spend $88.03 on gift cards 2005 holiday season, 15.6
percent of their holiday gift budget. According to ShopperTrak
RCT Corp., the week after Christmas accounted for 10% of holiday sales in 2005,
but analysts expect the post-holiday period could account for as much as 14% in
2006, given the increasing popularity of the cards....a 40% annual increase in
card sales.
About EnXnet, Inc.
EnXnet develops,
licenses and acquires next generation technology products. Its current product
portfolio addresses the needs of multi-billion dollar markets and applications
including proprietary stored value card technology, CD/DVD Media, compression
technology and state-of-the-art security/anti-theft products.
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.
Contact:
Ryan
Corley
EnXnet, Inc.
918-592-0015
Fax: 918-592-0016
investor@enxnet.com