St. Petersburg, FL,—FutureWorld (OTCQB: FWDG), a U.S. Diversified Holding Company formed to capitalize on the burgeoning technology markets globally, announces today that HempTech will start rolling out CannaTRAK; an Enterprise Asset Management System that manages governance Licensing, Seed Sourcing, cultivation, harvesting, processing, point of sales and compliance of the legal medicinal marijuana. CannaTRAK will utilize the latest in RFID hardware and enterprise grade backend software to track Cannabis all throughout its lifecycle for governance, monitoring and profitability. A typical application of CannaTRAK will be as following;
1-Cultivation - CannaTRAK will tag all Cannabis stalks for security and inventory purposes using passive and active RFID or Bar Codes.
2-Harvesting - CannaTRAK will validate the data between cultivated and harvested cannabis and provides efficiency matrix in conjunction with HempTech’s SmartSense technology.
3-Processing - CannaTRAK’s dataset from cultivation to harvest will evaluate the processing results and its efficiency. CannaTRAK will also monitor the licensing consideration before shipment to the retail centers or dispensers.
4-Packaging and Point of Sale - CannaTRAK will assess and control the quantity of the merchandise, its estimated retail value, its inventory level and finally record associated medical cards with dispensed cannabis at the point of sale.
5-Compliance - CannaTRAK will maintain licensing compliance and audit readiness with State, Local and Federal mandatory requirements.
Due to the State law, legal governance, compliance and tax reasons, we believe CannaTRAK will be an invaluable tool for legal compliance and profitability from growers to dispensers of the legal medicinal marijuana.
Over the past decade, 18 states have approved the use of medicinal marijuana. Medicinal marijuana has become an alternative to traditional treatments for patients with clinical diseases such as cancer and HIV/AIDS. The medicinal marijuana market is estimated to be valued in the billions of dollars initially and may provide hundreds of millions of dollars tax revenue for the state’s tax coffers. We believe compliance and governance will be a big concern for the state offices overseeing the cannabis lifecycle and CannaTRAK will be an invaluable tool to comply and monitor for the medicinal marijuana industry.