ST. PETERSBURG, FL, May 5, 2014 (GLOBE NEWSWIRE) -- FutureWorld (OTCQB: FWDG), a U.S. Diversified Holding Company
formed to capitalize on the burgeoning technology markets globally,
announces today that it has closed the acquisition of MedTest,
Inc., a Colorado cannabis laboratory and testing technology company
and will become a wholly owned subsidiary of HempTech. HempTech,
through MedTest, will be focusing on patentable projects pertaining
to a cannabis testing process and application for an affordable
front-line cannabis test targeting growers and dispensers. HempTech
is expecting the acquisition to provide considerable near-term
revenue by distributing unique testing tools to pertinent
distributors, growers and dispensaries nationwide.
As legality of cannabis continues its path of acceptance
nationally and internationally, the definition of quality and
purity of the plant and its extracts will become a considerable
challenge especially considering its medical properties and uses by
the patients and the industry as a whole. Testing process will
become an inevitable necessity hence creating a large market for
companies providing the tools and resources. MedTest will have a
synergistic relationship with Company's other products and services
offering "Picks and Shovels" resources for this ever growing
industry.
MedTest has been formed to further the development and sales of
affordable testing equipment by utilizing the proven method of
liquid chromatography. Through manufacturing and sales of testing
equipment, MedTest will continue setting industry standards by
making plant analysis affordable and accessible to anyone with an
interest in growing cannabis or determining the manner of cannabis
they possess. From home gardeners, to caretakers, to award-winning
breeders, these test kits will be an invaluable, cost effective
tool that is long overdue and likely to become a permanent and
necessary staple in the entire cannabis industry.
HempTech has started its nationwide implementation of cannabis
testing lab facilities (licensed, voluntary and self-test) by
acquiring its first lab subsidiary, MedTest. HempTech will continue
to march forward into other legal states in the upcoming months as
each particular state law would allow.
So far, testing for contaminants is currently voluntary in most
legalized states which have resulted in a lack of quality control
and cost fluctuations by testing labs, forcing the majority of
dispensaries to skip the process entirely. Indicators suggest it
will be a requirement for all cannabis products in Colorado and
Washington to be tested for health and safety no later than next
year. Other states are expected to require testing from the outset.
A few states are even taking it to the point of requiring
pharmaceutical-grade standards. We expect, at some point, a federal
mandate will ensue forcing all growers, dispensaries and processors
to test the quality and the purity of their cannabis. The required
tests will include potency for dosing, microbial testing (molds, E.
Coli, Salmonella, etc.), pesticides, and residual solvents (such as
leftover butane).
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.
FutureWorld and HempTech do not grow, distribute or sale marijuana.
To request further information about FutureWorld, please email us
at investors@hemptechcorp.com or log onto our website at
http://www.hemptechcorp.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: FutureWorld Energy
Investor Relations
(239) 324-0000
