Toronto, Ontario--(Newsfile Corp. - March 1, 2016) - Epcylon Technologies Inc, (OTC Pink: PRFC) ("Epcylon" or the "Company"), is a software company that has for over a decade, developed real-time data services for the financial technology, gaming and lottery vertical markets. Epcylon continues to expand its suite of proprietary desktop and mobile solutions into markets globally.
The Company announces it has signed a Memorandum of Understanding ("MOU") with Inditrade Capital Ltd. ("Inditrade") of India as of February 23, 2016.
Under the terms of the agreement, Epcylon will offer Inditrade's retail, professional and Institutional clients the following products: 1) The Stealth Console, designed for professional traders, 2) Stealth Signal which is embedded in a platform of choice with additional technical indicators available on demand, 3) Stealth Mobile which is expected to be available in Q1 2016 and 4) Stealth Analytics.
As part of the MOU, Epcylon and Inditrade have agreed to enter into a mutually agreeable " exclusive'' license agreement no later than May 31st, 2016 that will be for an initial duration of 36 months with a renewal of 24 months pending mutually agreeable milestones. The license agreement will contain detailed revenue sharing and revenue milestones that Inditrade must meet or surpass to maintain it's exclusive license in India.
Under the terms of the MOU, both parties have agreed, that once the Stealth Proprietary Technology is up and running with local Indian Companies trading securities and research signals, a 6 month testing period will take place with respect to the accuracy of the trading signals, at which point, if so desired, Inditrade will have the right to negotiate with Epcylon as to the creation of a new dedicated proprietary/client account trading structure to be launched in India using the proprietary research signals of the Stealth Technology. The format and the structure of the new entity will be finalized at a later stage taking into consideration the interest of both parties and the regulatory environment.
"We are enthused to bring the Stealth technology to the Indian securities markets as it is clear with the growing importance in the ability to analyze big data quickly, the Stealth research signals should prove invaluable for our clientele in making better informed trading and investment decisions." said Sudip Bandyopadhyay, lead promoter of Inditrade.
In accordance with the MOU, Epcylon has already commenced the search for data suppliers in India for the adaptation and testing of the Stealth signals to the Indian market place.
About Epcylon Technologies Inc.
Epcylon Technologies Inc. is a software company based in Toronto, Canada. For over a decade, the company has developed real-time data services for the financial technology, gaming and lottery vertical markets. Epcylon Technologies Inc. continues to expand its suite of proprietary desktop and mobile solutions into markets globally.
About Inditrade Capital Limited.
"Inditrade Capital Ltd. (Inditrade) is a large listed financial services company in India which amongst others, is the member of all Indian Equity, Commodity and Currency Exchanges. Inditrade is presented at 250 locations in India either through its own branches or partners. Inditrade also provides online trading as well as mobile trading facility to its clients.
Recently Inditrade has been acquired from Barings (India) PE Fund by a renowned Indian market veteran, Mr. Sudip Bandyopadhyay and the company has unveiled plans for rapid scale up under his guidance. Sudip has vast experience creating, managing and scaling up financial services businesses in India."
Forward-Looking Statements
Except for historical information contained herein, the matters set forth above may include forward-looking statements that involve certain risks and uncertainties. Words such as "may", "could", "anticipate", "believe", "estimate", "expect", "intend", "plan", and similar expressions are used to identify forward-looking statements. These forward-looking statements are based on the current beliefs of management, as well as assumptions made by and information currently available to management. Actual results could differ materially from those contemplated by the forward-looking statements. Epcylon does not undertake any obligation to update any forward-looking statements and cautions investors to consider all other risks and uncertainties, including those disclosed in Epcylon filings with the United States Securities and Exchange Commission.
For further information, contact:
Media Relations Epcylon Technologies, Inc.
34 King Street East Suite 1010 Toronto, ON Canada M5C 2X8
Phone +1-416-479-0880
copyright (c) newsfile corp. 2016