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COLORADO SPRINGS, Colo., May 13, 2010 (GLOBE NEWSWIRE) -- PSI Corp. (Pink Sheets:PSCP - News), operating as Pantel Systems, Inc., today announced that the Company has signed a non-binding memorandum of understanding with Midax, Inc., a systems integrator for regional operators, small chains, and independent retailers in the grocery and convenience store industries. The two companies have also agreed to a joint marketing initiative.
For the next 12 months, PSI and Midax will jointly deploy PSI's Coupon Kiosk in Midax's more than 500 existing locations, which include both supermarkets and convenience stores.
Eric Kash, CFO of PSI Corp., said, "We are excited about the opportunity to work with such a well known integrator as Midax. Like PSI's services and multi-function kiosks, Midax products and technologies support the businesses of independent supermarket chains and convenience stores so they can improve efficiencies, reduce costs, and be more competitive with larger companies."
Jim Nevill, CEO of Midax, Inc., stated, "We are pleased to work with PSI to support the growth of this important business segment. PSI brings a disruptive front-end technology to the point-of-purchase sale in the supermarket. Customized couponing is currently very much in demand by the consumer and will be around for years. PSI's technology and the new and interesting kiosks that it has developed and patented are a breath of fresh air to the overall marketplace."
PSI Corp. will file an 8K as soon as possible in order to provide additional information about the complete agreement between both parties.
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