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: FutureWorld Energy Investor Relations (239) 324-0000
