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FUTUREWORLD ENERGY, INC.. FILES (8-K) Disclosing Other Events
Edgar Online "Glimpses"
Item 8.01. Other Events
On March 3rd, 2014, the Board of Directors authorized the establishment of an
advisory board (the "Advisory Board"). The Advisory Board shall have the
responsibility of advising the Board of Directors and management of the Company
regarding the Company's development of its business plan and IP in relations to
Industrial Hemp, Medical Marijuana, and Cannabis Related Pharmaceuticals &
Nutraceuticals. We believe domain experts are the fundamental growth catalyst of
our company and our business in the burgeoning markets of Industrial Hemp and
Medical Marijuana. The advisory board establishment is a prelude to HempTech's
new division. We will continue building our strength in our divisions by
selecting industry leaders for our advisory board.
On March 14, 2014, the Company entered into those certain advisory board
agreements (collectively, the "Advisory Board Agreements") with our first member
of the advisory board reflected below (collectively, the "Advisory Board
Members"). In accordance with the terms and provisions of the Advisory Board
Agreements: (i) the Company shall retain each Advisory Board Member for a period
commencing upon execution of the Advisory Board Agreement and continuing until
notice of termination provided by either party; and (ii) the Advisory Board
Member shall provide services to the Company including, but not limited, to: (a)
participation in monthly advisory calls and annual meeting, and (b) guidance on
Industrial Hemp, Medical Marijuana, and Cannabis Related Pharmaceuticals &
Nutraceuticals strategy directions. In further accordance with the terms and
provisions of the Advisory Board Agreements, the Company shall grant to each
Advisory Board Member 150,000 stock options to purchase 150,000 shares of the
Company's common stock at an exercise price of $0.03 per share, which stock
options shall vest as follows: (i) 150,000 stock options exercisable on the 12th
month anniversary of the acceptance.
Initial Advisory Board Member
Drs. Frans Trouwen has worked in the Life Science industry since 2002. He has
worked as the Chief Executive Officer of Valletta Health Holding, a spin off
Biotech Company from the Academic Medical Hospital in Amsterdam (Netherlands)
from 2002 until 2011. From 2009 till 2011 he has also worked as the Managing
Director of Medical Accel Group (The Medical Accel Group offered scouting,
screening, developing and sales of (bio) medical compounds and/or devices both
on a global level). Drs. Trouwen will be an instrumental figure for the
development of Pharmaceuticals & Nutraceuticals sector of the Company.
