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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.
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.
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.
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.
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.
Imagine having the knowledge of exactly how much CO2 was in the air or the air temperature at every point of the grow cycle.
See and know exactly how much moisture was in the soil throughout the entire growth cycle.
Imagine being able to see in graphical format exactly how much nitrogen was in the soil throughout the entire grow cycle.
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.
HempTech's innovative products will be showcased at our first grow facility in Colorado through a joint venture with FutureLand Properties.
FutureWorld will continue to beneficially own an additional 30,000,000 shares of HempTech common stock as a long-term investment.
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.
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.
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.
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.
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.
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.
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.
We are also ramping up for the proposed Spin-Off. We will inform the investors for more detail shortly.
My preliminary cash flow analysis suggests that URVape should be debt free and collecting over $2,000,000 in annual revenues by the end of year one. Future anticipated growth will be exponential.
It is my considerate goal to propel URVape to the forefront of the Vaping Industry, through the introduction of safe, effective products, using our "SafeVape" development technologies.
URVape will be part of that historical moment creating technologies for the delivery of its specialized, researched products.
But we are fortunate to be part of this historical moment in time where consumers around the globe will finally have access to natural plant derivatives to enhance their health and enjoyment without the inherent side effects of synthetic medicines.
The E-cigarette, Cannabis and Herbal vaping industry is an ever growing and evolving industry. Business models need to be constantly adjusted and configured based on all moving parts.
The goal is to become the market leader of safe vaping materials. To that end, URVape has Trademarked "SafeVape" for use in describing the technologies utilized in bringing both devices and e-liquids to the marketplace.
URVape's plans include the installation of its own laboratory along with a "clean room" for production of its products
We are also developing new methods of producing, packaging and flavoring a variety of e-liquids with the intention to provide consumers with happy, healthy and potentially curative products.
These changes are designed to produce safe devices, built with safe materials, and to exact temperature specifications suited to a variety of e-liquids that we will bring to market.
Through our in-house Product Development personnel, and through the hiring of a consultant whose area of expertise is microbiology, specific to cannabis and vaping, we have developed two primary device changes that are being patented
URVape has entered into an exclusive Non-disclosure/Non-compete contract with one of the foremost international vaping products manufacturers.
As a result, URVape has dedicated itself to providing products that are free of any substances which, when heated for vaping, could be harmful.
Consequently, these elements are being inhaled as a result of heating the contents of the e-liquids, thereby producing potentially harmful changes to the initial ingredients.
Product deficiencies were noted in the devices being used in combination with e-liquids, which, together could be producing harmful elements.
After studying the marketplace, with more than 466 vendors attempting to reach nicotine consumers, we recognized early on that there were unsupported claims and deficiencies in the products and e-liquids being sold.
URVape was started to contribute to the current revolution, which has become an international phenomenon, known as the "Vaping" industry. URVape began test marketing OEM branded, off-the-shelf oil vaporizers, whose design and utility was well received, and which promulgated our first vendor agreement in the state of Colorado.
My educational background included engineering, finance, marketing and law.
As of October 15, 2014 I was hired as URVape's CEO, based upon my varied business experience: Ranging from International Trade and Finance, to contract negotiation with international and multi-national corporations and governments, to consultation, lobbying and being called as an expert witness.
Dear Shareholders: As the new CEO of URVape, Inc., I would like to introduce myself to all of our FutureWorld shareholders and provide an update on URVape's current business and events;
ST. PETERSBURG, FL, Nov. 25, 2014 (GLOBE NEWSWIRE) -- FutureWorld (FWDG), a U.S. Diversified Holding Company formed to capitalize on the burgeoning technology markets globally, announces the following letter to its shareholders from URVape subsidiary's new CEO, Daniel Montgomery:
"The idea, of course, is to keep this model moving from state to state. There is no reason we can't have 5 to 10 of these grows up within the next couple years."