FUTURELAND CORP. (OTCMKTS:FUTL) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01, Completion of Acquisition or Disposition of Assets
On July 25, 2017, the Company issued a press release announcing that it has entered into an agreement to joint venture with Greenleaf Holdings, LLC. to acquire an established Solar Technology group, Amps Electric, Inc. The Company is pleased to announce that it has completed the purchase of Amps Electric, Inc.
Amps Electric, Inc. is a Massachusetts company that deals in solar energy. Of course, the company supplies solar energy to any power need, but cannabis is going to be a huge addition to their erupting portfolio. Amps currently has annual revenues exceeding $5,000,000 and believes it can achieve as much as $10,000,000 by the years end. Because of the nature of many cannabis grows, being secluded on the one hand, and needing to operate self-sufficiently on the other, it makes a lot of sense for FutureLand to include this opportunity within its canopy of offerings.
In 2014, a report by the Northwest Power and Conservation Council estimated marijuana operations could grow Washington electricity demand between 60 MW and 160 MW over the next 20 years. Regional demand, including producers in Idaho, Montana, Oregon and Washington, could reach almost 250 MW by 2035.
The Company plans to develop and offer Amps Electric, Inc products and services to the marijuana grow facilities in all legal states in the fourth quarter of 2017. More information will be provided as the company progresses.
About FUTURELAND CORP. (OTCMKTS:FUTL)
FutureLand, Corp., formerly known as AEGEA, Inc., operates its business through its subsidiary, FutureLand Properties LLC. FutureLand Properties LLC is an agricultural land lease company catering to the industrial hemp, legal medical marijuana and recreational cannabis market. The Company focuses on approximately 240 acres of prime property in southern Colorado. The Company has other developmental land use plans for other projects being pursued as well. The Company has not generated any revenues.