Saint Petersburg, FL, May 12, 2015 (GLOBE NEWSWIRE) -- FutureWorld Corp. (OTC: FWDG), a cannabis technology accelerator and a leading provider of advanced technologies and solutions to the global cannabis industry, announced an unaudited financial results for its fourth quarter ended March 31, 2015. The audited numbers for the year end will be available with the filing of the 10K due on June 29th 2015.
Fourth Quarter Results (all comparisons made are against the prior year period, unless otherwise stated)
• Revenue was $585,945 as compare to $0 a year ago.
• Net income was $21 million as compared with ($156,319) a year ago (if sale of FutureLand included, net income will increase to an estimated $81 million).
• Diluted income per share was $0.023 as compared with a ($0.0004) loss per share a year ago (if sale of FutureLand included, diluted income per share would increase to an estimated $0.10).
• Total shareholder equity was $19.5 million as compared with $(1,371,218) a year ago (FutureLand sale not included).
• Net asset was $20.6 million as compared with $2,000 a year ago (FutureLand sale not included).
• Total account receivable of $10 million as compared with $0 a year ago.
"We are pleased with our strong Q4 results, demonstrating solid execution of our business model," said Sam Talari, Chairman, and Chief Executive Officer. "Our technology incubation and acceleration business model is starting to pay off. We have had revenue from all of our companies and have increased our total net asset (tangible, intangible) by 1,000,000% as compared with a year ago. Our advanced business model positions us to extend our market leadership in the Cannabis industry incubating unique and profitable businesses."
Business Highlights (through May 11, 2015, unless otherwise stated):
•FutureLand Corp - the Company has made great strides for the past few months, signing two contracts for land lease and grow facilities on its 240Acres land. Its revenue for the period has surpassed all other subsidiaries and will expect it to do so for the foreseeable future. FutureLand was sold/spun off last week of March giving FutureWorld close to $40m to $60m in net income from gain on sale of asset.
https://www.facebook.com/pages/FutureLand-Corporation/848802538518505
•HempTech Corp - the Company has developed leading technologies for the agricultural industry and is on par to become a leader in grow technologies in the cannabis industry and beyond. HempTech was sold/spun off in Feb/March giving FutureWorld close to $20.5m in net income from gain on sale of asset.
http://www.hemptechcorp.com/main/
•CB Scientific Inc - the Company has introduced and is selling the first ever award meaning personal analytics THC and CBD test kits. CB Scientific is the second revenue generator after FutureLand. The Company is revamping its product lines and introducing new and improved products sold through multiple distributors and online. The Company expects its proforma revenue to reach $2M by the end of 2015 and expand exponentially thereafter. The Company is working on two ventures in personal testing devices that may redefine the whole cannabis testing industry for years to come. The Company is also in the process of being sold or spun off in the next few weeks. We expect the price to be on par with both previous sold companies.
•URVape - the Company has been expanding in the "SafeVape" vape and ecig devices with unique CBD vape blends formulated especially for the patients. The Company also sells dietary supplements using especial formulated CBD oil for illnesses. The Company currently has 14 wholesalers in 8 states across the country.
•NutraCann - a dietary supplement company, NutraCann offers unique blends and formulated high quality CBD oil under the brand "Essence" as tinctures, drops, capsules, CBD candies, and bulk wholesale items nationally through their website. The Essence line of products by NutraCann offers the best quality CBD formulated especially for certain conditions and illnesses.
As the only Cannabis Technology Accelerator, FutureWorld will incubate and fund leading technologies, products, and services for Cannabis industry (Industrial Hemp) for foreseeable future; bringing value to its core and its shareholders.
About FutureWorld Corp.
FutureWorld (OTC: 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 networks offer precision to the agriculture, irrigation systems, and greenhouses 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.