ST. PETERSBURG, FL, March 3, 2015 (GLOBE NEWSWIRE) -- FutureWorld Corp. (OTC: FWDG), a leading provider of advanced technologies and solutions to the global cannabis industry, announced today that on February 27, 2015 Infrax Systems has purchased one hundred percent (100%) of HempTech Corp, a wholly owned subsidiary of FutureWorld Corp for $60,000,000 in cash and stocks. HempTech Corp is a technology company that provides smart sensors and data analysis technology, Seed-to-Sale tracking systems, communication networking and surveillance security for the cannabis and agricultural industry. Prior to the transaction, FutureWorld had retained an independent third party valuation firm and received the market valuation of $60,000,000 for HempTech Corp. The valuation report was used as a basis for the agreed upon transaction between FutureWorld and Infrax Systems.
Also, there exist a material relationship between the Company and the purchaser on this transaction. Talari Industries is the majority shareholder of both and its principle, Mr. Talari, is the CEO of FutureWorld Corp. This transaction will be the last of a material relationships type transaction.
The details of transaction are as follows;
1- Ten million dollars ($10M) in cash, payable in installments as convertible notes. The cash payment shall be made available through operations and/or registration by the Infrax Systems.
2- Ten million dollars ($10M) in Common Stock of Infrax Systems, Inc.
3- Forty million dollars ($40M) in Preferred Shares Series A1, or 33,000,000 shares of Infrax Systems, Inc.
Infrax Systems has been working closely with HempTech for the past few months developing disruptive technologies for the cannabis market utilizing internal intellectual properties developed over the past five years. With the purchase of HempTech Corp, Infrax Systems will initiate a new division for agricultural related technologies (or Agritech). Infrax Systems acquisition of HempTech Corp will help expand its reach in the Cannabis and Agricultural technologies (agritech) which are the fastest growing sectors in the market.
Reasons for the sale and the transaction with Infrax Systems;
1- Extract value for the shareholders by spinning-off subsidiaries per our business model
2- Access to marketable securities and cash for corporate growth and dividend purposes
3- Increase Company's balance sheet and overall financial health of the Company
4- HempTech's underlying technology comes from Infrax Systems
5- Access to intellectual properties owned by Infrax Systems for future developments of other subsidiaries
What shareholders should expect from this transaction;
1- dividend on part of the shares acquired through registration
2- dividend on part of the cash when available
3- cash and stock dividends are only available to shareholders of record at the time of the notice
HempTech Corp is one of many of FutureWorld subsidiaries planned spin-offs. FutureWorld has hastened its execution of its business plan to incubate and fund five (5) subsidiaries so far with award winning products in only 9 months. We plan on executing our business model in the next few weeks and months by our planned exit strategies (sale) for our subsidiaries, including URVape, CB Scientific and FutureLand properties.
About HempTech Corp
HempTech, a subsidiary of FutureWorld, is a technology company 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. 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.
To request further information about HempTech, please email us at email@example.com, log onto our website at http://www.hemptechcorp.com or visit us at our Facebook page https://www.facebook.com/hemptechcorp or on Twitter @hemptechcorp.
About Infrax Systems
Infrax Systems offers a series of interrelated operational management, communications, and grid security related products and services known as Secure Intelligent Energy Platform (SIEP). Our products enable a comprehensive and unified solution for communications and applications management of the Smart Grid. SIEP(TM) incorporates a wide array of communications, security, device and data management tools for Smart Grid applications such as advanced metering solutions and grid optimization. SIEP platform creates a unified solution to securely manage Advanced Metering Infrastructure (AMI) and distribution automation. Infrax's secure smart grid platform, incorporates a communications transport and management system, (GridMesh(TM)), device and data security management, and ultimately secures intelligent endpoint devices (SIED). The secure management of the "last mile" backhaul will be necessary for utilities to implement Smart Grid applications including AMI, real-time pricing, Demand Side Management (DSM), Distribution Monitoring and Automation. When combined, these applications can offer economic, operational and environmental benefits for utilities, and ultimately the utility's customers.
To request further information about Infrax, please email us at firstname.lastname@example.org, log onto our website at http://www.infraxinc.com or visit us at our Facebook page facebook.com/infraxsystems or on Twitter @infraxsystems.
About FutureWorld Corp.
FutureWorld (Other OTC: FWDG), a Delaware corporation, is a leading provider of advanced technologies and solutions to the global cannabis industry. FutureWorld, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of cannabis related products and services, such as industrial Hemp. FutureWorld, through its subsidiaries, provides personal and professional THC and CBD test kits, pharmaceutical grade CBD oil solutions, SafeVape vaporizers, 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 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.