ST. PETERSBURG, FL, June 27, 2014 (GLOBE NEWSWIRE) -- FutureWorld (OTCQB: FWDG), a leading provider of advanced solutions to the Cannabis industry globally, announces the following letter to its shareholders from our Chairman & CEO Sam Talari:
Dear Fellow Shareholders, As the CEO of FutureWorld, I would like to update all of our shareholders on our current business and events:
We are currently involved in many "picks and shovel" ancillary business enterprises associated with the Hemp/Cannabis industry and will continue to delve even further as the space continues to evolve. Our overall strategy is to have a foot print in all states that have a legalized Cannabis marketplace (Hemp especially) with diverse products and services. This will allow us to be at the forefront of this growth industry which may at some point surpass even the tobacco market now worth close to $200 billion per year.
We are on the verge of the creating perhaps the most enormous agricultural industry ever contemplated. Industrial Hemp alone could generate billions of dollars per year and create thousands of jobs. Cannabis, on the pharmaceutical level, will become a major competitor to the global trillion dollar pharmaceutical industry. We are living at a great point in history that may never repeat itself. Our job at FutureWorld is not only to become part of this history but also influence this history.
Since our last shareholder update, we have been moving at a dizzying pace beyond a mere articulation of our business plan to visualization and actualization of our goals. To simplify our immediate goals and achieved milestones coupled with verifiable ROI's, I have categorized our discussion points in this shareholder letter based on our subsidiaries.
Our Subsidiaries:
1. HempTechRx, Inc. & HempTechRxonline
CBD Oil (Oil extract from Cannabis/Hemp) - Clinical studies underscore CBD's potential as a treatment for a wide range of medical conditions hence the intense sourcing of this scarce miraculous oil by thousands of patience globally. Its scarcity (and its high cost) is the consequence of the legal confusion and barriers in growing Hemp in the States. Although, it may change in the near future, we believe, it may take years for the scarcity and cost to be mitigated for the medical patience around the globe.
The present usage for scientific CBD oil in the United States is estimated to be approximately 2,000 Kilograms a year (or $50M to $100M) and growing. Typical revenue from each kilo of CBD oil would be in the hundreds of thousands of dollars. We have sourced a few kilograms of CBD oil initially to start distribution on HempTechRxonline and our URVape website.
Additionally, edible products based on CBD oil and medical marijuana has become a very profitable venture in the sector. We are presently partnering with industry heavy-weights in Colorado to initiate our own manufacturing facilities for the sale of these edibles. We estimate having our own brand sold in legal states in the third Q 2014.
We have factored CBD oil to be one of the greatest revenue generating potentials for our company going forward. We have plans to increase distribution of the CBD oil up to 100 Kilograms by the end of the year, making it the most profitable endeavor in the whole industry thus far.
2. URVape, Inc.
We brought to market our own brand of vaporizers (pens) that stand as the most advanced in the industry. Our first order of inventory was 2000 vaporizers. Currently we offer an oil based Vape with a look to an herb/wax version within few weeks. We also have ordered an additional inventory of few thousand URVape pens to replace what is being sold and we are happy to report that interest is high and we should be out of inventory by the end of June. We expect the order level to increase by 100% per month.
For states that do not have much in the way of cannabis oils, we expect to move more dry herb pens than oil pens, but in states with an already booming market like Colorado, Washington, and California, we expect to push more oil deliverers. We intend to invest heavily into URVape in order to establish our position in this ever growing Vape and ecig market. At inception, the ecig segment is predicted to exceed $300 billion in 10 years with $720 billion global runway.
We estimate selling 50 to 100 thousand URVape pens each year with exponential growth, making it the largest contributor to our bottom line stepping out of the gates.
3. MedTest, Inc.
MedTest Inc. is a Nevada owned company based in Denver Colorado, that FutureWorld recently purchased for cash, stock and a revenue sharing component. MedTest Inc. has a working relationship with Herbal Synergy, LLC in Colorado and is developing new technologies specifically for cannabis analytics. Charles Steinberg and Derek Lebahn's credentials are powerful assets to MedTest Inc. Mr. Steinburg and Mr. Lebahn, of Herbal Synergy, has been one of the main driving forces behind gas chromatography testing in Colorado. Mr. Steinberg has been a judge at five previous High Times Cannabis Cups. Soon, MedTest will introduce a technologically advanced product that will shake the foundation of the entire industry. MedTest Inc. is operated by CB Scientific and marketed by DispenseTek.
We expect to sell thousands of the kits being developed by end of 2014 hence contributing considerably to our bottom line.
4. CB scientific, Inc.
FutureWorld is currently making preparatory efforts to open testing labs for Hemp/Cannabis in Colorado, Nevada and Florida. This will be accomplished through the CB Scientific arm of FutureWorld. FutureWorld is currently in negotiations to purchase a testing lab, in Denver, Colorado. CB Scientific's long term goals include owning a lab franchise all throughout the country. Laboratory testing of Cannabis related products are a coming certainty state by state; making Labs a very profitable enterprise much like other highly regulated industries.
5. HempTech Corp.
HempTech Corp has several products available right now specifically geared to helping cultivators of industrial hemp and medical cannabis maximizing yields while helping to control costs. HempTech products includes CaNNaLyTiX™ , SPIDer™ , SmartSense™, SmartNergy, and CaNNaTRAK™.
We currently have three contracts that are being discussed for use of SPIDer, SmartSense™ and CaNNaLyTiX™ with regard to two large grow facilities. They are based on JVs and teaming agreements. We are expecting to close these contracts within a matter of days. These products are the industries most sophisticated technologies and have no rivals. We are planning to showcase our products at the Cannabis Cup in Seattle this coming September.
We expect SPIDer and SmartNergy with CaNNaLyTiX to bring substantial amount of revenue in the next Qs.
6. DispenseTek
DispenseTek is designed to market and sell products to the dispensaries nationally. One such product is CaNNaBoX™. CaNNaBoX™- is a secure robotic device specifically designed for dispensing cannabis products in secure prepackaged amounts, in complete accordance with state law requirements, in licensed dispensaries, and only to legal buyers.
FutureWorld has teamed up with American Green to brand the Zazzz Dispensary machine with the CaNNaBoX™ logo (brand) and distribute the product across the United States and beyond. Currently, we are working on the details for branding with American Green and should have the machines out in locations within a few weeks. Our primary target partners will be in the United States in the short term. However, we have already begun engaging placement opportunities in Uruguay, which is very exciting.
Other Events
FutureWorld has invested in the first Cannabis banking venture in the country, set in Colorado. As a pioneer in this revolutionary industry, we thought it best to extend our vision to the banking sector, helping companies to mitigate their financial exposure imposed by the current banking restrictions. Our bank will focus mainly on the Cannabis industry allowing them the same services provided to traditional enterprises. We will continue to make investments in other banking projects all throughout the United States, particularly Florida. We expect dividend in respect to our investment in the near future.
Our first quarter (Q) ending June 30th, would be our first quarter showing drastic increase in revenue from the prior year (or prior quarter). We will continue this momentum to increase our revenue every quarter going forward.
Our 10K will be out with audited financials with very limited numbers since it marks the year prior to our current business model in the cannabis industry. The audited 10K shall make a great foundation for the company going forward creating a baseline fundamental for our future Qs and Ks.
FutureWorld is determined and pleased to continue down this exciting path to create a global company, bringing value to the industry by introducing world-class technologies and creating value for our shareholders by increased revenue and profitability.
As the only company in the industry with such a diverse amount of products and services, we will continue bringing the market up to Cannabis 2.0.
Regards, Sam Talari
About FutureWorld
FutureWorld (Other OTCQB: FWDG), a Delaware corporation, is a U.S. Diversified Holding Company, listed on the Over the Counter exchange, which is formed to capitalize on the burgeoning Cannabis markets globally. FutureWorld, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of cannabis related products, such as industrial Hemp. FutureWorld, through its subsidiaries, provides smart sensor technology, communication network, surveillance security, data analysis for smart cultivation, smart energy management system, data analytics, laboratory testing, cannabis testing kits, banking and consultation for the industrial hemp and legal medicinal marijuana. FutureWorld and its subsidiaries do not grow, distribute or sale marijuana. 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.