ST. PETERSBURG, FL, April 7, 2014 (GLOBE NEWSWIRE) -- FutureWorld (OTCQB: FWDG), a U.S. Diversified
Holding Company formed to capitalize on the burgeoning technology
markets globally, announces today that HempTech is to acquire
interest in Verecis Corporation to further develop CaNNaTRAK®
product line for the legal medical marijuana and the industrial
hemp markets. Verecis has been a pioneer in Enterprise Asset
Management industry for the Fortune 500 for more than a decade.
Seed to sale control and effective tracking has become a choke
point in the growth of the legal medical marijuana industry.
HempTech, together with Verecis, will mitigate and alleviate this
considerable concern for current States and any future States
allowing the creation of the legal medical marijuana industry.
Compliance and governance will be the big drivers in adoption and
growth of the medical marijuana industry nationwide and globally.
Without a proper compliance and governance framework, legal medical
marijuana may encounter considerable roadblocks for mass acceptance
and adoption. The acquisition will provide substantial ownership
and rights to the intellectual property required for development,
sale and expansion of CaNNaTRAK nationally. The acquisition detail
will be noted on the forthcoming 8K.
CaNNaTRAK, as an Enterprise Asset Management System, tracks
governance Licensing, Seed Sourcing, cultivation and point of sales
of medicinal marijuana. CaNNaTRAK will utilize the latest in RFID
hardware and enterprise grade backend software to track Cannabis
all throughout its lifecycle for governance, monitoring and
profitability. A typical application of CaNNaTRAK will be as
following;
1- Cultivation -
CaNNaTRAK will tag all Cannabis stalks for security and inventory
purposes using passive and active RFID or Bar Codes.
2- Harvesting -
CaNNaTRAK will validate the data between cultivated and harvested
cannabis and provides efficiency matrix in conjunction with
HempTech's SmartSense technology.
3- Processing -
CaNNaTRAK's dataset from cultivation to harvest will evaluate the
processing results and its efficiency. CaNNaTRAK will also monitor
the licensing consideration before shipment to the retail centers
or dispensers.
4- Packaging and
Point of Sale - CaNNaTRAK will assess and control the quantity of
the merchandise, its estimated retail value, its inventory level
and finally record associated medical cards with dispensed cannabis
at the point of sale.
5- Compliance -
CaNNaTRAK will maintain licensing compliance and audit readiness
with State, Local and Federal mandatory requirements.
6- Integration -
CaNNaTRAK will integrate its technology with CaNNaBoX to maintain
tight compliance in the case of the medical permits for dispensing
marijuana.
Due to the State law, legal governance, compliance and tax
reasons, we believe CaNNaTRAK will be an invaluable tool for legal
compliance and profitability from growers to dispensers of the
legal medicinal marijuana.
We are in the process of sales and marketing procedures for
CaNNaTRAK in Colorado, California and other States. We expect to be
the de facto ERP tracking system in the State of Florida with the
approval of the Medical Marijuana by the end of 2014.
About FutureWorld
FutureWorld (Other OTCQB: FWDG), a Delaware corporation, is a
U.S. Diversified Holding Company, listed on the Over the Counter
exchange, which was formed to capitalize on the burgeoning markets
and technologies globally. FutureWorld, together with its
subsidiaries, focuses on the identification, acquisition,
development, and commercialization of burgeoning technologies, such
as industrial Hemp, globally through HempTech. HempTech, a
subsidiary of FutureWorld, is a technology division catered to the
industrial Hemp market. HempTech provides smart sensor technology,
communication network, surveillance security, data analysis for
smart cultivation and consultation for the industrial hemp and
legal medicinal marijuana. Our wireless agricultural smart sensor
networks offers precision to the agriculture, irrigation systems,
and greenhouses for the global Hemp industry. HempTech is also in
development, production and marketing of industrial hemp and legal
medicinal marijuana by-products throughout United States. To
request further information about FutureWorld, please email us at
investors@futureworldenergyinc.com
or log onto our website at http://www.futureworldenergyinc.com
Safe Harbor
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.
CONTACT: Contact:
FutureWorld Energy
Investor Relations
(239) 324-0000
