ST. PETERSBURG, FL, Nov. 24, 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 10,000,000 shares of common stock of HempTech, Inc. ("HempTech") with a trust formed for the benefit of holders of FutureWorld' common stock. HempTech (http://www.hemptechcorp.com) is a wholly owned subsidiary of FutureWorld based in Saint Petersburg, FL. HempTech is a technology division catering to the cultivators of industrial hemp market and legal medical marijuana. HempTech provides cutting edge technologies that allows cultivators to securely collect, analyze and control every aspect of a horticultural operations; from "Seed to Sale" tracking to managing their electricity.
The 10,000,000 HempTech shares initially will be held by an independent trustee, subject to irrevocable instructions to distribute 2,500,000 of those shares to FutureWorld shareholders of record as of February 1, 2015, March 1, 2015, April 1, 2015 and May 1, 2015. The distributions will be made when the HempTech 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, HempTech is planning to file for an initial public offering of its common stock shortly after the company has reached its first customer contract milestone. HempTech 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 30,000,000 shares of HempTech common stock as a long-term investment.
HempTech's innovative products will be showcased at our first grow facility in Colorado through a joint venture with FutureLand Properties. The grow facility will use CaNNaLyTiX, one of HempTech's recent innovations, which will show the master growers exactly how a harvest came into being. Imagine being able to see in graphical format exactly how much nitrogen was in the soil throughout the entire grow cycle. See and know exactly how much moisture was in the soil throughout the entire growth cycle. Imagine having the knowledge of exactly how much CO2 was in the air or the air temperature at every point of the grow cycle. Virtually every component of the plants vegetative growth matrix and ultimate flower harvest is tracked, documented and available in visible format both in real-time and historically to ensure that the baselines set by the master grower are adhered to by the cultivation staff.
About HempTech Corp
HempTech, a subsidiary of FutureWorld, is a technology division catering to the cultivators of industrial hemp market and legal medical marijuana. HempTech provides cutting edge technology that allows cultivators to securely collect and analyze every aspect of a horticultural operation. SPIDer™ provides Secure Perimeter Intrusion Detection and is a state of the art security solution for a cultivation operation. Through their proprietary data collection system SmartSense™ and analytics dashboard CaNNaLyTiX™ HempTech Corp. provide growers unparalleled data analysis capabilities for their plants. SmartNergy™ not only controls every aspect of electrical usage within a cultivation operation it is actively managing settings and monitoring usage to make sure the #1 cost of an operation (Energy) is monitored and controlled at optimum levels at every stage of processing a harvest. Couple in CannaTRAK™, our ground up remodeling of a "Seed to Sale" tracking software system, and master growers will be handed a complete toolset that can provide the real answer to a grower's ultimate question… "How did we do that?" CaNNaLyTiX's sophistication will show the master growers exactly how a harvest came into being. Imagine being able to see in graphical format exactly how much nitrogen was in the soil throughout the entire grow cycle. See and know exactly how much moisture was in the soil throughout the entire growth cycle. Imagine having the knowledge of exactly how much CO2 was in the air or the air temperature at every point of the grow cycle. Virtually every component of the plants vegetative growth matrix and ultimate flower harvest is tracked, documented and available in visible format both in real-time and historically to ensure that the baselines set by the master grower are adhered to by the cultivation staff. CaNNaLyTiX™, providing essential tools to Know Your Grow! HempTech - America's Future Taking Root Today.
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 CB Scientific and HempTech, 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.
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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.