$FWDG - 8K - Elected to sell a majority interest in FutureLand Properties LLC to a publicly traded company.
On February 09, 2015, the Company’s board of directors have elected to sell a majority interest in FutureLand Properties LLC to a publicly traded company. The decision was made based on FutureWorld’s internal business model and FutureLand’s rapid expansion in the recent months through signed lease agreements and increased balance sheet. The sell price will be negotiated and evaluated by a third party accounting firm. The third party valuation, much like what was processed with HempTech Corp, would allow a basis for discussion on the transaction value. The transaction will be based on all stock or stock and cash and it is expected to complete by the third week of March if the negotiations were successful. Company is expected to dividend out the proceeds shortly after.
More information will be provided when details on the agreement including the purchase price has been clarified.
The Company will also deliver a copy of the valuation report for both HempTech Corp and FutureLand Properties, to the Securities and Exchange Commission for their record. Due to confidential and proprietary corporate information on the reports, the Company will only attach the report summary as exhibits with the closure of the transactions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FutureWorld Corp
/s/ Sam Talari
Sam Talari
Principal Executive Officer
Dated: February 23, 2015
http://www.otcmarkets.com/edgar/GetFilingHtml...D=10506381
On February 09, 2015, the Company’s board of directors have elected to sell a majority interest in FutureLand Properties LLC to a publicly traded company. The decision was made based on FutureWorld’s internal business model and FutureLand’s rapid expansion in the recent months through signed lease agreements and increased balance sheet. The sell price will be negotiated and evaluated by a third party accounting firm. The third party valuation, much like what was processed with HempTech Corp, would allow a basis for discussion on the transaction value. The transaction will be based on all stock or stock and cash and it is expected to complete by the third week of March if the negotiations were successful. Company is expected to dividend out the proceeds shortly after.
More information will be provided when details on the agreement including the purchase price has been clarified.
The Company will also deliver a copy of the valuation report for both HempTech Corp and FutureLand Properties, to the Securities and Exchange Commission for their record. Due to confidential and proprietary corporate information on the reports, the Company will only attach the report summary as exhibits with the closure of the transactions.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
FutureWorld Corp
/s/ Sam Talari
Sam Talari
Principal Executive Officer
Dated: February 23, 2015
http://www.otcmarkets.com/edgar/GetFilingHtml...D=10506381
