London, England / ACCESSWIRE / December 2, 2014 / Lans Holdings, Inc. (OTCQB: LAHO),- (The Company), is pleased to announce, that on November 21, 2014, the Company completed the signing of a license agreement (the "License Agreement") with PayFlex Systems and Trevor Allen (together, "PayFlex") for an exclusive worldwide license to use all of PayFlex's codes, patent and intellectual rights, contracts, permits and licenses in a payment processor business.
The License Agreement granted the Company the rights to, among other things, a unique platform to allow the seller of products online to enter a few pieces of information to allow them to generate a unique piece of code that will make a buy button to be placed on a seller's website. The buy button will automatically process payments and keep track of the inventory of the seller's products, thus allowing sellers to eliminate the need of programming and setting up of cumbersome online merchant accounts.
The Company is required to compensate PayFlex $150,000 in cash for the license and contribute $200,000 for its own working capital needs within 90 days of closing the License Agreement. The Company is also required to issue a number of shares of the Company's common stock necessary to give 55% of the total issued and outstanding shares of the Company to PayFlex or its nominees.
In addition, the Company would be required to issue a number of shares of the Company's common stock necessary to give 70% of the total issued and outstanding shares of the Company to PayFlex or its nominees on the anniversary of the Licensing Agreement in which the Company’s audited filed financial statements for gross annual revenues attributable to the business exceeds (US) $5,000,000.
The license is for twenty years unless terminated earlier as provided for in the License Agreement.
"We are extremely pleased to have secured the signing of the license agreement which gives Lans Holdings the world-wide rights to PayFlex software. We are excited to have entered into the licensing agreement with PayFlex systems, a private software company that is dedicated to simplifying group buying platforms," states Treveor Allen, CEO of the Company.
About Lans Holdings
Lans Holdings Corp. (www.LansHoldings.com) is a software company that specializes in Acquiring, developing and fostering innovative and emerging technologies. We care about ecology – business responsibility and impacts that technologies may have on our planet. Lans Holdings is an incorporated company, and has been in operation since late 2007. Since that time, we have made great relationships and affiliations with consultants and experts in a variety of fields. We and our affiliates have a wide breadth of business structure experience and technological consultants to help projects and companies grow. We have resources to offer finance and software programming expertise, and a wide variety of relationships in many software and communications segments.
Further information on the Company can be found at www.sec.gov and the company's website at www.LansHoldings.com.
Forward Looking Statements
Some information in this document constitutes forward-looking statements or statements which may be deemed or construed to be forward-looking statements, such as the closing of the share exchange agreement. The words "plan", "forecast", "anticipates", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in the Company's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Lans Holdings Inc., herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Lans Holdings Inc., disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.
For further information, please contact: Investors@lansholdings.com
SOURCE: Lans Holdings, Inc.