The company further expects to complete other key milestones throughout 2015 that serve its client base and further enhance shareholder value. A selection of these accomplishments are, in no particular order, launching a new Investor Relations web portal specifically designed for shareholder news and faster updates; announcing a dedicated public relations firm; a ticker symbol change to reflect the company’s product lines and future endeavors; development of a Bud Genius mobile app; and further celebrity licensing deals from media, sports, and entertainment genres.
The long-term plans of the company are to achieve stable growth as a rapidly increasing number of states continue to legalize the medical use of cannabis by the recommendation of doctors for treating illnesses. Internet technology applicable to both medical and state-legal recreational cannabis use will remain housed under the BudGenius brand.
Note 3. Description Of Business Plan of Operation In February 2011, RightSmile acquired Kazore, Inc. dba Full Spectrum Media (now DevTek, LLC), changing its core business from teeth whitening systems to online marketing and development, including web, mobile application, and search engine optimization. In January 2012, RightSmile acquired BG Medical Technologies, Inc., replacing executive management, and began the transition of its core business model to software and technology development specific to medical marijuana, and the complimentary and alternative medicine industry. In 2013, the Company wound down DevTek, LLC, liquidating DevTek assets to cover outstanding debts and liabilities specific to DevTek, LLC. BG Medical maintains in-house labor to fulfill all previous DevTek related contributions, including contractual online marketing and development, including web, mobile application, and search engine optimization. BG Medical develops Internet technology and biotechnology, focusing on medical cannabis, cannabis commerce, and natural health care solutions. Its products collect data through a network of proprietary software, utilized by patients, retail operators, and medical professionals. The Company's current flagship product, BudGenius.com, is a social web platform designed to assist cannabis patients in selecting regionally available medicine paired to their needs. The Company operates an analytical chemistry laboratory designed for natural medicine study, which is utilized to determine potency and safety guidance for patients and medicine manufacturers. Data collected from the laboratory is combined with patient feedback to produce information that benefits retail operators and informs patients on best available treatment options. BudGenius.com maintains the most comprehensive online public database for scientifically tested cannabis worldwide. In 2010, BG Medical’s BudGenius product entered the alternative healthcare market, becoming the nation’s most popular medical cannabis testing laboratory. BudGenius’ laboratory utilizes gas chromatography machines to conduct its testing procedures. This is similar to methods employed by pharmaceutical laboratories and biotech research firms. BudGenius results are displayed online upon BudGenius.com and within deployable website tools provided to clients. Results are also shown inside cannabis dispensaries throughout California. BudGenius utilizes custom software to pair specific plant genetics to patient ailments such as pain relief, anxiety, and nausea. Assuming financial resources are in place to do so, BudGenius plans to expand services to also address critical ailments such as cancer, Parkinson’s Disease, Alzheimer’s, and more. BudGenius’ custom analysis software is the primary differentiator between itself and competitive testing laboratories. BudGenius combines analytical chemistry research with social web software that receives patient feedback (crowd sourcing) to determine the net medical effects of chemicals present within plant medicines. The BudGenius software engine reaches its conclusions by evaluating preprogrammed quantitative scientific trial data from (i) published studies in scientific journals and articles listing (ii) exact quantities consumed and (iii) researcher-observed effects; and then combining these calculations with qualitative data from (iv) crowd sourced patient feedback from websitesubmitted reviews, listing (v) relative quantity consumed and (vi) self-observed effects. The software engine “intelligence” is increased as additional data is added in real-time. A variety of natural medicine treatment programs continue to gain popularity globally. Additionally, one third of the U.S. population resides in a region with favorable medical cannabis laws. However, in recognition of cannabis legal ambiguities, BG Medical’s product strategy is strictly focused on data collection, data analysis, and data display. BG Medical does not sell, grow, harvest, cultivate, or distribute medical cannabis. On occasion BG Medical also provides technical marketing services to third party clients, including design consultation, social Internet advisement, software engineering, and campaign management for web and mobile audiences. BG Medical Technologies is focused on building medical treatment infrastructures that combine interactive desktop and mobile applications to provide an affordable alternative to rising healthcare cost concerns. Management does not believe that cash from operations will be sufficient to meet its cash obligations, and it will be required to raise additional capital through private securities offerings to fund its research, development, and the planned expansion of its operations. In late 2013, BG Medical entered into an agreement with a reputable private equity firm to provide capital financing, although there can be no assurance that BG Medical will be able to raise the required capital to complete its goals in full.