11 days old but this is for those who have not seen it
New Subsidiary Announced for BG Medical Technologies Expansion
BG Medical Technologies, Inc. (OTC: RIGH) will be creating a new subsidiary, Genius Biotech Corporation, to specialize in the healthcare aspects of medical marijuana. BG Medical Technologies will place its medical device, treatment solutions, and product manufacturing projects into Genius Biotech Corporation as a stand-alone corporation with its own growth potential. 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.
Company CEO Angel Stanz stated, “This will benefit current shareholders by the acquisition and development of both medical technology and data technology through parallel growth trajectories. Genius Biotech Corporation is in a position to benefit greatly from the continued legalization of medical marijuana, while our crossover products benefit synergistically from emerging recreational marijuana markets.”
Stanz continued, “there is a need for one company to be the statistical and control conduit for distributing medical and recreational data across synergistic platforms. Our laboratories provide immediately useful data for the administration of the wide variety of cannabinoid-based materials and dosage systems, such as raw plant matter, edibles, and ointments, while our websites analyze and package data to bring business types together through unified systems. By partitioning our focus into distinct medical and general business units we are able to provide a greater overall value to our shareholders.”
Genius Biotech Corporation will soon have its own website, and is in the process of being organized as a Delaware C-corp. Further comments are premature at this time, but Mr. Stanz did state that the BG Medical board of directors have demanded that Genius Biotech Corporation should be fully reporting, audited, and Sarbanes-Oxley compliant.
About BG Medical Technologies
BG Medical Technologies is a medical marijuana company that develops technology and research software for cannabis and natural health solutions. The Company collects data through a network of proprietary software, utilized by patients, by retail operators, and by medical professionals. The Company's current flagship product, BudGenius.com, is a social web platform connecting cannabis patients to regionally available medicine that is paired to their needs. The Company operates an analytical chemistry laboratory designed for cannabis study, utilized to determine potency and safety guidance for patients and medicine manufacturers.
For more information please visit:
http://www.BudGenius.com
http://www.BgMedTech.com
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Copyright Business Wire 2014
Business Wire
July 15, 2014 - 8:39 AM EDT
reference source
http://www.stockhouse.com/news/press-releases...-expansion
Sarbanes-Oxley Act (SOX)
The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation passed by the U.S. Congress to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosures. The U.S. Securities and Exchange Commission (SEC) administers the act, which sets deadlines for compliance and publishes rules on requirements.
The Sarbanes-Oxley Act was enacted in response to a series of high-profile financial scandals that occurred in the early 2000s at companies including Enron, WorldCom and Tyco that rattled investor confidence. The act, drafted by U.S. Congressmen Paul Sarbanes and Michael Oxley, was aimed at improving corporate governance and accountability. Now, all public companies must comply with SOX.
The Sarbanes-Oxley Act not only affects the financial side of corporations, but also IT departments charged with storing a corporation's electronic records. The act is not a set of business practices and does not specify how a business should store records; rather, it defines which records should be stored and for how long. SOX states that all business records, including electronic records and electronic messages, must be saved for "not less than five years." The consequences for noncompliance are fines, imprisonment or both.
IT departments are increasingly tasked with creating and maintaining a corporate records archive in a cost-effective fashion that satisfies the requirements put forth by the legislation. Section 802 of Sarbanes-Oxley contains the three rules that affect the management of electronic records. The first rule deals with the destruction, alteration or falsification of records, and the resulting penalties. The second rule defines the retention period for records storage. Best practices indicate that corporations securely store all business records using the same guidelines set for public accountants. The third rule refers to the type of business records that need to be stored, including all business records and communications, including electronic communications.
reference source
http://searchcio.techtarget.com/definition/Sa...-Oxley-Act
New Subsidiary Announced for BG Medical Technologies Expansion
BG Medical Technologies, Inc. (OTC: RIGH) will be creating a new subsidiary, Genius Biotech Corporation, to specialize in the healthcare aspects of medical marijuana. BG Medical Technologies will place its medical device, treatment solutions, and product manufacturing projects into Genius Biotech Corporation as a stand-alone corporation with its own growth potential. 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.
Company CEO Angel Stanz stated, “This will benefit current shareholders by the acquisition and development of both medical technology and data technology through parallel growth trajectories. Genius Biotech Corporation is in a position to benefit greatly from the continued legalization of medical marijuana, while our crossover products benefit synergistically from emerging recreational marijuana markets.”
Stanz continued, “there is a need for one company to be the statistical and control conduit for distributing medical and recreational data across synergistic platforms. Our laboratories provide immediately useful data for the administration of the wide variety of cannabinoid-based materials and dosage systems, such as raw plant matter, edibles, and ointments, while our websites analyze and package data to bring business types together through unified systems. By partitioning our focus into distinct medical and general business units we are able to provide a greater overall value to our shareholders.”
Genius Biotech Corporation will soon have its own website, and is in the process of being organized as a Delaware C-corp. Further comments are premature at this time, but Mr. Stanz did state that the BG Medical board of directors have demanded that Genius Biotech Corporation should be fully reporting, audited, and Sarbanes-Oxley compliant.
About BG Medical Technologies
BG Medical Technologies is a medical marijuana company that develops technology and research software for cannabis and natural health solutions. The Company collects data through a network of proprietary software, utilized by patients, by retail operators, and by medical professionals. The Company's current flagship product, BudGenius.com, is a social web platform connecting cannabis patients to regionally available medicine that is paired to their needs. The Company operates an analytical chemistry laboratory designed for cannabis study, utilized to determine potency and safety guidance for patients and medicine manufacturers.
For more information please visit:
http://www.BudGenius.com
http://www.BgMedTech.com
The foregoing press announcement contains forward-looking statements that can be identified by such terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. In particular, management's expectations could be affected by, among other things, uncertainties relating to our success in completing acquisitions, financing our operations, entering into strategic partnerships, engaging management and other matters disclosed by us in our public filings from time to time. Forward-looking statements speak only as to the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Copyright Business Wire 2014
Business Wire
July 15, 2014 - 8:39 AM EDT
reference source
http://www.stockhouse.com/news/press-releases...-expansion
Sarbanes-Oxley Act (SOX)
The Sarbanes-Oxley Act of 2002 (often shortened to SOX) is legislation passed by the U.S. Congress to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosures. The U.S. Securities and Exchange Commission (SEC) administers the act, which sets deadlines for compliance and publishes rules on requirements.
The Sarbanes-Oxley Act was enacted in response to a series of high-profile financial scandals that occurred in the early 2000s at companies including Enron, WorldCom and Tyco that rattled investor confidence. The act, drafted by U.S. Congressmen Paul Sarbanes and Michael Oxley, was aimed at improving corporate governance and accountability. Now, all public companies must comply with SOX.
The Sarbanes-Oxley Act not only affects the financial side of corporations, but also IT departments charged with storing a corporation's electronic records. The act is not a set of business practices and does not specify how a business should store records; rather, it defines which records should be stored and for how long. SOX states that all business records, including electronic records and electronic messages, must be saved for "not less than five years." The consequences for noncompliance are fines, imprisonment or both.
IT departments are increasingly tasked with creating and maintaining a corporate records archive in a cost-effective fashion that satisfies the requirements put forth by the legislation. Section 802 of Sarbanes-Oxley contains the three rules that affect the management of electronic records. The first rule deals with the destruction, alteration or falsification of records, and the resulting penalties. The second rule defines the retention period for records storage. Best practices indicate that corporations securely store all business records using the same guidelines set for public accountants. The third rule refers to the type of business records that need to be stored, including all business records and communications, including electronic communications.
reference source
http://searchcio.techtarget.com/definition/Sa...-Oxley-Act
