SOUTHFIELD, MI -- (Marketwired) -- 10/09/14 -- Halberd Corporation (PINKSHEETS: HALB) subsidiary I-TAP, Inc. announced that the company has entered into discussions for the distribution and sale of I-TAP's proprietary electronic draft beer dispensing system with NexSol Technologies, Inc., a well-established firm headquartered in Seoul, Korea that has been conducting business there since 1980.
This initiative is a result of I-TAP's intent to build an international distribution network by introducing international distribution partners to more rapidly expand the Company's global footprint.
South Korea is a $5.8 billion beer market and, according to Korea Customs Service data, beer imports totaled a record $50.8 million in the first half of this year, up 28.5% from a year earlier.
"We are thrilled to be in discussions with NexSol Technologies, Inc. for distribution into an entirely new territory, South Korea, which is experiencing a significant increase in beer consumption," said John Osborne, Founder and President of I-TAP, Inc. "Over the long term, we believe sales from international distribution partnerships should exceed domestic sales. We will explore additional distribution partnerships in new international territories while continuing to aggressively pursue or domestic sales objectives."
I-TAP, Inc. is the developer of the electronic I-TAP draft beer dispensing system for the facility management, hospitality and food service industries. They are located in Sarasota, Florida. www.itapit.com
Halberd Corporation is a Holding Company and Incubator for early stage high growth businesses. They are located in Southfield, Michigan. Halberd Corporation trades on the OTC Market under the ticker symbol HALB. www.halberdcorporation.com
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John C Maddox