Denver, Colorado, Nov. 20, 2014 (GLOBE NEWSWIRE) -- FutureWorld Corp. (OTCQB; FWDG), a leading provider of advanced technologies and solutions to the global cannabis industry, announces today that it is depositing 20,000,000 shares of common stock of CB Scientific, Inc. ("CB Scientific") with a trust formed for the benefit of holders of FutureWorld' common stock. CB Scientific (http://www.cbscientific.com) is a wholly owned subsidiary of FutureWorld based in Denver Colorado. CB Scientific is continuing to develop new technologies specifically for cannabis analytics and has always strived to help patients know exactly what they are buying. CB Scientific believes every product sold to patients as "Medical Quality" should be inspected for health benefits, safety, consistency, purity, potency and packaged properly for distribution.
The 20,000,000 CB Scientific shares initially will be held by an independent trustee, subject to irrevocable instructions to distribute 5,000,000 of those shares to FutureWorld shareholders of record as of January 1, 2015, February 1, 2015, March 1, 2015 and April 1, 2015. The distributions will be made when the CB Scientific shares could be sold by the holders pursuant to an effective registration statement filed with the Securities and Exchange Commission or an exemption from such registration, which currently is targeted to occur in the beginning of 2015.
As part of the above strategy, CB Scientific is planning to file for an initial public offering of its common stock shortly after the company has reached a sales threshold of 20,000 test kits per month. CB Scientific currently is targeting the filing for the beginning of 2015, subject to market and general economic conditions as well as compliance with applicable securities laws. FutureWorld will continue to beneficially own an additional 20,000,000 shares of CB Scientific common stock as a long-term investment.
CB Scientific recently launched affordable PersonalAnalytics Cannabis THC & CBD test kits. PersonalAnalytics test kits are the world's first ever affordable home testing kits for potency of cannabis cannabinoids (THC & CBD). The Company holds three provisional patens and more to be filed in the near future.
Now, anyone anywhere in the world can affordably have a quick and accurate test to see the relative potency levels of their cannabis medicine. CB Scientific is putting power in the hands of patients worldwide who need to use medical cannabis and hemp-related products such as CBD oil. In Colorado, California and Washington, caregivers are now able to get affordable and high-quality test results in 10 minutes or less. Patients in any other state or country also now have the opportunity to know what is in their medicine and its potency level without the high costs of an outside laboratory. PersonalAnalytics THC & CBD: Simple, Easy, Accurate, and Affordable!
Both THC and CBD home testing kits are already available at several outlets in Spokane, Washington, Denver, Colorado and Los Angeles, California including head shops, dispensaries and grow stores. The kits are also available for purchase worldwide online at cbscientific.com.
About CB Scientific
CB Scientific (http://www.cbscientific.com) is a wholly owned Florida company based in Denver Colorado. CB Scientific is continuing to develop new technologies specifically for cannabis analytics. Senior management team are some of the primary men advancing gas chromatography testing in Colorado. CB Scientific believes every product sold to patients as "Medical Quality" should be inspected for health benefits, safety, consistency, purity, potency and packaged properly for distribution.
Senior management team of CB Scientific have worked with many of the cannabis industry leaders in Colorado and have also been featured in cannabis industry publications including High Times Magazine, many trade publications, on-air interviews and panel discussions across the United States. CB Scientific's focus has been the education and safety of consumers combined with innovation to put power into the hands of the patients. Values that FutureWorld is pleased to embrace while ever striving to raise the bar of cannabis analytics even higher.
About FutureWorld Corp
FutureWorld (Other OTCQB: FWDG), a Delaware corporation, is a U.S. Diversified Holding Company formed to capitalize on the burgeoning Cannabis markets globally. FutureWorld, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of cannabis related products, such as industrial Hemp. FutureWorld, through its subsidiaries such as HempTech and CB Scientific, provides personal and professional THC and CBD test kits, pure CBD oil solutions, smart sensor technology, communication network, surveillance security, data analysis for smart cultivation and consultation for the industrial hemp and legal medicinal cannabis. Our wireless agricultural smart sensor networks offer precision to the agriculture, irrigation systems, and greenhouses for the global cannabis and hemp industry. FutureWorld and its subsidiaries do not grow, distribute or sell marijuana.
To request further information about FutureWorld, please email us at email@example.com, log onto our website at http://www.futureworldcorp.com or visit us at our Facebook page https://www.facebook.com/futureworldenergy or on Twitter #futureworldinc.
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Source:FutureWorld Energy Inc.