Saint Petersburg, FL, April 20, 2015 (GLOBE NEWSWIRE) -- FutureWorld Corp. (FWDG), a leading provider of advanced technologies and solutions to the global cannabis industry, announced today that its Board of Directors has approved the "Record Date" and "Dividend Rate" of the stock of HempTech Corp (Infrax Systems) to its shareholders. The record date for determining the holders of FutureWorld's (FWDG) common stock who will receive the dividend shares of HempTech Corp (Infrax Systems) is set on April 30th, 2015 (from April 24th as mentioned on the 8K). The dividend rate will be one (1) share of HempTech Corp (Infrax Systems) for every two (2) shares of FutureWorld Corp. The actual "Distribution (Payable) Date" of the dividend will be announced when HempTech Corp (Infrax Systems) gets clearance from FINRA.
Since the actual dividend spinoff shares needs to be registered with the SEC to become free trading, and since the process may take some time, we have decided to issue the (restricted) dividend shares and have them deposited into the shareholders account until such time the Company gets clearance from the SEC and FINRA. And at such time, the (restricted) shares in the shareholders account will automatically become free trading, hence tradable. Company is in the initial stages of the preparation of the S1 to be filed with the SEC.
The announced dividend is an initial tranche. We may issue more stock or cash dividends in the near future on HempTech Corp (Infrax Systems) with sufficient notice.
Although we use the "Record Date" to determine the shareholder's rights for dividend, if shareholders sell their shares prior to the actual "Distribution Date", they will not be eligible for the dividend. Shareholders must hold their FutureWorld shares till the "Distribution Date" to qualify for the dividend of HempTech Corp (Infrax Systems).
Please find below the associated terms in relations to the Spinoff and dividend;
Record Date - The date established by an issuer of a security for the purpose of determining the holders who are entitled to receive a dividend or distribution (if you sell your shares after the Record Date and before the Ex-Dividend Date (a day after the Distribution Date), you will lose your eligibility to receive your dividend.
Dividend Rate - The total expected dividend payments.
Distribution Date - The date the dividend is paid out.
The following is the pertinent information on HempTech Corp dividend;
Declaration Date - 4/17/2015
Record Date - 4/30/2015
Distribution Date - When approved by FINRA
Ex-Dividend Date - First business day after the Distribution
Date
For more information on dividends from SEC, please see below link;
http://www.sec.gov/answers/dividen.htm
Extending FutureLand's Dividend
The Company has decided to extend FutureLand's dividend deadline to April 24th from April 17th. The extended deadline is intended to alleviate certain confusion on the dividend process advanced by unscrupulous individuals on multiple social media and financial platforms. We are watching these individuals diligently and will take legal action if warranted.
As the only Cannabis Technology Accelerator, FutureWorld will incubate and fund leading technologies, products, and services for Cannabis industry (Industrial Hemp) bringing value to its core and its shareholders.
About FutureLand Corp.
FutureLand Corp, a Colorado company, is a cannabis and hemp land leasing company formed to capitalize upon the emerging global cannabis market. FutureLand, focuses on target acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States. We give growers the opportunity to grow. We monetize through leasing the land, leasing the structures on the land, financing, interest revenue and management fees associated with the cultivation centers. FutureLand retains ownership of all the land and the structures we build on the land. FutureLand leases to both medical marijuana, retail marijuana as well as industrial hemp growers. FutureLand does not grow, distribute or sell marijuana.
To request further information about FutureLand, please email us at info@futurelandcorp.com, log onto our website at
http://www.futureworldcorp.com or visit us at our Facebook page facebook.com/pages/FutureLand-Corporation/848802538518505 or on Twitter @futurelandcorp.
About FutureWorld Corp.
FutureWorld (FWDG), a Delaware corporation, is a leading provider of advanced technologies and solutions to the global cannabis industry. FutureWorld, together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of cannabis related products and services, such as industrial Hemp. FutureWorld, through its subsidiaries, provides personal and professional THC and CBD test kits, pharmaceutical grade CBD oil solutions, SafeVape vaporizers, smart sensor technology, communication network, surveillance security, data analysis for smart cultivation and consultation for the industrial hemp and legal medicinal cannabis. Our wireless agricultural smart sensor network offers precision to the agriculture, irrigation systems, and green houses for the global cannabis and hemp industry. FutureWorld and its subsidiaries do not grow, distribute or sell marijuana.
To request further information about FutureWorld, please email us at info@futureworldcorp.com, log onto our website at http://www.futureworldcorp.com or visit us at our Facebook page facebook.com/futureworldenergy or on Twitter @futureworldinc.
Forward-Looking Statements
This press release may contain forward-looking statements covered within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, plans and timing for the introduction or enhancement of our services and products, statements about future market conditions, supply and demand conditions, and other expectations, intentions and plans contained in this press release that are not historical fact and involve risks and uncertainties. Our expectations regarding future revenues depend upon our ability to develop and supply products and services that we may not produce today and that meet defined specifications. When used in this press release, the words "plan," "expect," "believe," and similar expressions generally identify forward-looking statements. These statements reflect our current expectations. They are subject to a number of risks and uncertainties, including, but not limited to, changes in technology and changes in pervasive markets. 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.