FUTURELAND CORP. (OTCMKTS:FUTL) Files An 8-K Other EventsItem 8.01. Other Events.
On July 19th, FutureLand Corp. (FUTL) announced that it is in the process of applying for Medical Marijuana Treatment Center (MMTC) license in the State of Florida. Under the new regulations, enacted on November 8, 2016, Florida will accept new applications for Medical Marijuana Treatment Centers (MMTC) — entities that acquire, cultivate, possess, process (including development of related products such as food, tinctures, aerosols, oils, or ointments), transfer, transport, sell, distribute, dispense, or administer marijuana, products containing marijuana, related supplies, or educational materials to qualifying patients and caregivers. The legislation paves way for 10 more medical marijuana treatment centers that will open by Oct. 3, 2017. When 100,000 new eligible patients are added to the patient registry, another license for MMTC will become available to apply for. The state will be opening the application period for Medical Marijuana Treatment Center sometime after July 2017 (August most likely).
The Company has had major success in moving the project forward by ascertaining valuable operational and funding partners to begin the application process for the Medical Marijuana Treatment Center (MMTC) license in the State of Florida. We have also hedged our bits by acquiring the current license holders through our funding partners, if in this round, we may not succeed in acquiring the license through an application process. We are in discussion with major funders to help us acquire licenses if that’s what we decide to do. We are very excited in this opportunity and are planning to do all in our power to be part of the Florida’s billion dollar medical marijuana industry.
According to Forbes, Colorado and California may be ground zero for medical marijuana, but Floridacould quickly catch up. A new report from New Frontier Data with market dataprovided by Arcview Market Research projects that Florida's market will grow to $1.6 billion by 2020 at a compound annual growth rate of 140%. That would make it half the size of California's projected$2.6 billion marketand top the projected $1.5 billion medical marijuana market for Colorado.
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.