FUTUREWORLD CORP. - FORM 10-K/A

Attached files

file	filename
EX-31.1 - FUTUREWORLD CORP.	ex31_1.htm
EX-32.2 - FUTUREWORLD CORP.	ex32_2.htm
EX-32.1 - FUTUREWORLD CORP.	ex32_1.htm
EX-31.2 - FUTUREWORLD CORP.	ex31_2.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K/A

ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended March 31, 2015

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _________ to _________ .

Commission File Number 000-1273988

Date of Report (date of earliest event reported): August 7^th 2015

FUTUREWORLD CORP.

(Exact name of registrant as specified in its charter)

DELAWARE	000-1273988	81-0562883
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)


3637 4^th St. N Suite 330 Saint Petersburg, Florida	33704
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (727) 474-1816

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Name of Each Exchange on Which Registered

None		None

Securities registered pursuant to section 12(g) of the Act: Common Stock, $0.0001 par value

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.					☐ Yes		☒ No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.					☐ Yes		☒ No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.					☒ Yes			☐ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).					x Yes			o No

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K (§ 229.405 of this chapter) is not contained herein, and will not be contained, to the best of registrant's knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.					☐ Yes			☒ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, or a non-accelerated filer.
☐ Large accelerated filer	☐ Accelerated filer	☐ Non-accelerated filer	☒ Smaller reporting Company

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).				☐ Yes		x No

The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter:

Voting Common Equity				Non-voting Common Equity
	$	1,800,000		None

The number of shares outstanding of each of the registrant's classes of common stock, as of March 31, 2015:

Common stock, par value $0.0001 per share	731,525,768
Other	None

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FutureWorld Corp.

Annual Report on Form 10-K

For the Fiscal Year Ended March 31, 2015

INDEX

		Page Number
PART I

Item 1.	Business	4
Item 1A.	Risk Factors	23
Item 1B.	Unresolved Staff Comments	23
Item 2.	Properties	24
Item 3.	Legal Proceedings	24
Item 4.	Mine Safety Disclosures	24

PART II

Item 5.	Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities	24
Item 6.	Selected Financial Data	25
Item 7.	Management's Discussion and Analysis of Financial Condition and Results of Operations	25
Item 7A	Quantitative and Qualitative Disclosures About Market Risk	30
Item 8.	Financial Statements and Supplementary Data	30
Item 9.	Changes in and Disagreements with Accountants on Accounting and Financial Disclosure	31
Item 9A.	Controls and Procedures	31
Item 9B.	Other Information.	32

PART III

Item 10.	Directors, Executive Officers and Corporate Governance	33
Item 11.	Executive Compensation	34
Item 12.	Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters	36
Item 13.	Certain Relationships and Related Transactions, and Director Independence	36
Item 14.	Principal Accountant Fees and Services	37

PART IV

Item 15.	Exhibits and Financial Statement Schedules	38

Signatures		39

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DOCUMENTS INCORPORATED BY REFERENCE

The following documents (or portions thereof) are incorporated by reference into the Parts of this Form 10-K noted:

NONE

Forward-Looking Statements

This Annual Report on Form 10-K contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including, without limitation, statements regarding our expectations, beliefs, intentions or future strategies that are signified by the words "expects," "anticipates," "intends," "believes," "estimates" or similar language, and among other things: (i) events that may occur in the future, (ii) implementation of our business model; development and marketing of our products and services and (iii) prospects for revenues and profitability. All forward-looking statements included in this document are based on information available to us on the date hereof. We caution investors that our business and financial performance and the matters described in these forward-looking statements are subject to substantial risks and uncertainties. Because of these risks and uncertainties, some of which may not be currently ascertainable and many of which are beyond our control, actual results could differ materially from those projected in the forward-looking statements. Deviations between actual future events and our estimates and assumptions could lead to results that are materially different from those expressed in or implied by the forward looking statements. We do not intend to update these forward looking statements to reflect actual future events.

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PART I

Item 1. Business

Background information

OUR HISTORY

"We", "us", "our" and "FutureWorld" refer to FutureWorld Corp., a Delaware corporation.

The history of our incorporation and our ownership, in chronological order, is as follows:

●	We were incorporated in Delaware on July 22, 2002.

●	On June 11, 2014, the Company changed its name to FutureWorld Corp from FutureWorld Inc.

Current Operations

The address of our executive offices is: 3637 4^th Street North, Saint Petersburg, FL 33704 and our telephone number at that address is 727-474-1816. The address of our web site is www.futureworldcorp.com. The information at our web site is for general information and marketing purposes and is not part of this annual report for purposes of liability for disclosures under the federal securities laws.

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 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.

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.

FutureWorld Corp. is seeking to acquire minority or full interest in currently operating companies and disruptive technologies in the Industrial Hemp/Medical and Recreational Cannabis Industry globally; such as vaporizers, lab testing, tracking systems, security, CBD oil, testing kits, financial solutions, dispensaries and other needed components. Our goal is to provide our acquired companies, current and future shareholders a clear strategy for the growth of their companies and their investment in those companies.

We currently provide multiple products that supply the burgeoning cannabis industry. The "picks and shovel" business model capitalizes of selling enterprises associated with the Industrial Hemp and Medical Cannabis industries products that are essential in their success. Our products solve long standing problems in cultivation, processing, and retail sales for industrial hemp and medical cannabis. The following divisions will continue to delve even further into purchasing existing products or developing brand new products as the wholesale and retail space continues to evolve. In addition, one primary focus is to manufacture, market, and sell products containing hemp derived CBD oil. We are invested in the following portfolio companies as subsidiaries;

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NutraCann Labs, Inc, - CB Scientific, Inc, - URVape, Inc, - HempTech Corp. - FutureLand Corp. - Bioceudical Sciences

NutraCann Labs Inc.

CBD Oil- CBD is one of at least 60 cannabinoids found in hemp, and is non-psychoactive. The Cannabidiol "CBD" is a compound in cannabis that has significant medical effects, but does not make people feel "high" and can actually counter the psychoactive effects of THC. The reduced psychotropic of CBD-rich cannabis makes it an appealing treatment option for patients seeking anti-inflammatory, anti-pain, anti-anxiety, anti-psychotic, and/or anti-spasm effects without disconcerting lethargy. Scientific and clinical studies underscore CBD's potential as a treatment for a wide range of conditions, including rheumatoid arthritis, diabetes, alcoholism, MS, chronic pain, schizophrenia, PTSD, antibiotic-resistant infections, epilepsy, and other neurological disorders. CBD has demonstrated neuro-protective and neurogenic effects, and its anti-cancer properties are currently being investigated at several academic research centers in the United States and elsewhere.

The present usage for CBD oil in the United States is estimated to be approximately 1,000-2,000 Kilograms a year and growing and with a yearly value of around $200,000,000. Currently, the apparent current competitors are; CannVest, Inc. and Medical Marijuana, Inc., which own portions of each other's companies, are the primary supplier of CBD oil in the United States. They supply the product in bulk to affiliate distributors and sell it retail in plastic tubes that are refined up to three levels. Real Scientific Hemp Oil™ is their trademark name.

NutraCann Labs has sourced its own CBD oil from Europe. We are also developing plans to fund an overseas hemp cultivation project to provide a consistent and reliable supply to the United States and beyond. Currently, industrial hemp cultivation is legal in twenty countries around the world. NutraCann's products are sold under the brand name "cbdessence" on CBDESSENCE.COM.

NutraCann Labs will process the CBD oils that will be sold through our online presence for retailing industrial hemp oil-based Cannabidiol (CBD) nutritional supplements, wellness and personal care products and vapable CBD oils. NutraCann Labs will market items such as CBD oil, CBD infused edibles & multiple hemp related items and cross market our vaporizers from URVape.com. NutraCann Labs will be featuring scientific grade hemp oil which is highly sought after around the world. We will sell already recognizable brands including our own brands and drive internet sales through ads, videos, social media and Search Engine Optimization.

The global Nutraceutical market is projected to be in excess of $200 billion by 2015 and the current US Nutraceutical and Dietary supplement market is valued at around $42 billion. CBDESSENCE.com and URCBDOil.com will be at the forefront of this massive marketplace with significant opportunities. Cannabinoids (non-psychoactive CBD) have been found to have antioxidant properties, unrelated to NMDA receptor antagonism. This new found property makes cannabinoids useful in the treatment and prophylaxis of a wide variety of oxidation associated diseases, such as ischemic, age-related, inflammatory and auto-immune diseases.

Cannabinoids are found to have particular application as neuroprotectants, for example in limiting neurological damage following ischemic events, such as stroke and trauma, or in the treatment of neurodegenerative diseases, such as Alzheimer's, Parkinson's and HIV dementia. URCBDOil.com should be live by July 1, 2014 UPDATE). CBDESSENCE.com and URCBDOil.com will assist FutureWorld to generate positive cash flow for both URVape and our CBD oil and CBD infused products offered by NutraCann Labs.

CB Scientific, Inc.

CB Scientific, Inc. a wholly owned subsidiary based in Denver Colorado has developed new technologies specifically for cannabis analytics. Charles Steinburg, President of Herbal Synergy and Acting Vice President of CB Scientific Division, has been one of the main men behind gas chromatography testing in Colorado. Charles Steinberg's credentials will prove to be an asset to CB Scientific He has been a judge at several High Times Cannabis Cups. CB Scientific introduced the first ever personal cannabinoid detection kits. These kits test all your products in-house and at your own convenience. These tests are quick, easy, and effective. CB Scientific's new PERSONALANALYTICS THC & CBD detection kit is the first simple, quick and accurate consumer THC & CBD test which will give you're an accurate reading of THC or CBD in any product you purchase, manufacture, or grow While many medical and recreational products are sold with cannabinoid levels listed, these numbers are often not representative of what is being sold.

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URVape, Inc.

URVape™ is our brand name vaporizer pen which is sold with a charger and refill bottles. We market the product at URVape.com. It is our own trademarked vaporizer being marketed and sold online and in retail shops. The product is cutting edge design and requires puffing on the pen to facilitate battery use. The URVape vaporizing pen is sleek and lightweight. URVape will initially have oil vaporizers available and dry herb versions available in the coming months.

URVape was started to contribute to the current revolution, which has become an international phenomenon, known as the "Vaping" industry. URVape began test marketing OEM branded, off-the-shelf oil vaporizers, whose design and utility was well received, and which promulgated our first vendor agreement in the state of Colorado.

After studying the marketplace, with more than 466 vendors attempting to reach nicotine consumers, we recognized early on that there were unsupported claims and deficiencies in the products and e-liquids being sold. Product deficiencies were noted in the devices being used in combination with e-liquids, which, together could be producing harmful elements. Consequently, these elements are being inhaled as a result of heating the contents of the e-liquids, thereby producing potentially harmful changes to the initial ingredients. As a result, URVape has dedicated itself to providing products that are free of any substances which, when heated for vaping, could be harmful.

URVape has entered into an exclusive Non-disclosure/Non-compete contract with one of the foremost international vaping products manufacturers. Through our in-house Product Development personnel, and through the hiring of a consultant whose area of expertise is microbiology, specific to cannabis and vaping, we have developed two primary device changes that are being patented. These changes are designed to produce safe devices, built with safe materials, and to exact temperature specifications suited to a variety of e-liquids that we will bring to market.

We are also developing new methods of producing, packaging and flavoring a variety of e-liquids with the intention to provide consumers with happy, healthy and potentially curative products.

URVape's plans include the installation of its own laboratory along with a "clean room" for production of its products. The goal is to become the market leader of safe vaping materials. To that end, URVape has Trademarked "SafeVape" for use in describing the technologies utilized in bringing both devices and e-liquids to the marketplace.

The E-cigarette, Cannabis and Herbal vaping industry is an ever growing and evolving industry. Business models need to be constantly adjusted and configured based on all moving parts. But we are fortunate to be part of this historical moment in time where consumers around the globe will finally have access to natural plant derivatives to enhance their health and enjoyment without the inherent side effects of synthetic medicines. URVape will be part of that historical moment creating technologies for the delivery of its specialized, researched products. With the decriminalization and legalization of cannabis for medicinal and recreational use in many states and countries throughout the world the adoption of electronic vaporizing by the world's 1.2 Billion smokers - eCig or vaporizer market is the fastest market within the tobacco (free) industry and estimated to be a multi-billion dollar industry within a few years.

HempTech Corp:

HempTech Corp has several products available specifically geared to helping cultivators of industrial hemp and medical cannabis maximum yields while helping to control costs. CaNNaLyTiX™ , SPIDer™, SmartSense™ ,Smart.NRG™ , and CaNNaTRAK™.

CaNNaLyTiX™ "A picture is worth a thousand words" and being able to visualize all the various aspects of a cultivation enterprise solves challenges before they become problems. CaNNaLyTiX™ is a dashboard controller system that allows the various computer systems to be integrated throughout a cultivator's infrastructures. Using state-of –the-art API connecting software packages, CaNNaLyTiX™ can allow all computer systems to be monitored with the ease of a smartphone app and the robust hardware of integrated servers or cloud-based application.

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CaNNaTRAK™- the next generation of barcode & RFID tracking systems for keeping pace with the extensive demands of seed to sale tracking of Hemp/Cannabis for state compliance. We are currently developing "game changer" modifications that will make it the ultimate software system in the industry. CannaTRAK's Asset Tracking Management Software automates the major aspects of the Asset Life Cycle. The Product suite is made up of modules, which are able to operate independently of one another, are able to be configured to work together, or to be integrated with non-native applications. CaNNaTRAK™ software easily tracks assets using bar coding, radio frequency (RFID), imaging, and wireless technologies. CaNNaTRAK™ software is designed under the client/server architecture, is multi-user and menu-driven following industry-standard MS Windows protocols and graphical user interfaces. CaNNaTRAK™ applications are compatible with MS Windows XP, Vista, Windows 7 & 8.1 operating systems and with SQL Server 2008 through 2013.

CaNNaTRAK's mobile information applications are compatible with Windows Mobile devices and are tightly integrated with; bar coding, RFID, GPS, imaging, biometrics and wireless technologies. 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, 22 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. Our competition presently consists of the MITS system being used in the state of Colorado, the BioTrackTHC system being used in the state of Washington, and MJ Freeway. Certainly we will look to enter every burgeoning market throughout the United States.

SPIDer (Secure Perimeter Intrusion Detection Network) is a system to meet the needs of theft and malicious attacks. While the economy is seeing improvement, theft, site destruction, and malicious activity are still happening at an alarming rate and within the legal Cannabis/Hemp industry surging forward we can expect no change particularly because of its specific draw. The SPIDer systems consist of 3 levels of detection to identify intruders and threats in areas that are restricted.

The first level utilizes an electronically charged coaxial cable woven into your chain link fencing. Excessive fence movement will set off an alarm through your network notification system that someone is attempting to enter your facility. This is a very cost effective means to secure your site to meet security requirements for your company. The second level consists of a visual intrusion monitoring system. It is a wireless, battery operated, and connected through the cellular network. It provides 24/7 monitoring and notification through the internet and email system. Once an intruder is identified an alarm is sent to the security team with a picture that allows you to identify if this is an authorized or unauthorized person.

The network system can quickly be deployed and moved to provide security coverage as needed. The third level is a multi-level detection and verification system that uses both level one and level two to rapidly identify a potential intruder and provide you information for a rapid decision. The combination of the two systems provides the additional barriers for quick action. Sometimes seconds are critical in preventing serious damage or theft at your site. The command center software provides intrusion notification to your network center and to individuals via email. For level two and three you receive a picture that enables you to make a more informed and quicker decision concerning your action.

The SPIDer solution addresses the potential threat facing the entire Cannabis/Hemp industry. With this system you are able to supply your security team with information that enables them to be proactive in addressing these costly activities. Compliance with state rules and regulations for the Cannabis/ Hemp industry is going to be essential. Though there are many security companies on the market, few are adapting themselves to the Cannabis industry.

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SmartSense- offers wireless security and smart sensor mesh network for precision agriculture, irrigation systems, and greenhouses for the hemp industry. Our Smart Agriculture models allow monitoring multiple environmental parameters involving a wide range of applications with smart sensors such as Leaf Wetness, Atmospheric Pressure, Solar Radiation, Air Temperature / Humidity, Soil Temperature / Moisture, Ultraviolet Radiation etc. The smart sensor information will be collected and sent via the cloud to the central office for analysis and procedural modifications. FutureWorld is not aware of any another competitor in the United States. FutureWorld, through HempTech plans on marketing the product to large and medium sized grow facilities since they will have the greatest need.

SmartNergy- offers tools to analyze every aspect of a cultivator's energy usage. Being fully integrated with CaNNaLyTiX™, one can visualize energy consumption in real-time and track historical usage. The software's predictive functionality also helps optimize energy use challenges proactively. We believe a cultivator's huge electric bills can be scaled back when the entire grow is looked at as a complete and fully integrated operation.

CaNNaBoX™- Much like a bank ATM, the CaNNaBoX™ machine operates with the swipe of a card, which will verify identity, age and prescription information of a medical marijuana patient before releasing measured packages of marijuana. The advantage is you will not have to be waited on by an assistant if you don't require consultation and the store location is busy. The machine is capable of holding several hundred items in multiple forms of marijuana. CaNNaBoX™ is a secure robotic device specifically designed for dispensing cannabis products in secure prepackaged amounts, in complete accordance with state law requirements, in licensed dispensaries, and only to legal buyers.

FutureWorld has teamed up with American Green to brand the Zazzz Dispensary machine with the CaNNaBoX™ logo and distribute the product across the United States and possibly worldwide. Presently the Zazzz machine presented by American Green, which is first to the market, MedBox Inc.'s machine, and a vending machine product by Endexx Corp also distribute the product. The model for FutureWorld is to bring 1500 units to market within a couple years in accordance with our JV goals alongside American Green and its Zazzz machine.

There will be a revenue sharing agreement with American Green and FutureWorld for every placed CaNNaBoX™ machine via monthly leasing and transaction costs. We are currently putting together the details of the JV with American Green and beginning the marketing and design phase of our product. Revenues are purely a function of quantity at this point. A monthly leasing fee of approximately $150 dollars a month and a transaction cost somewhere between $1.50 and $2.00 per. Competing brands are to look for a large upfront expenditures from dispensaries for the machines which we believe will make their sales model harder to actual achieve sales nationwide.

CaNNaBoX™ will be marketed exclusively through our new dispensary division, DispenseTek. DispenseTek was created to market and sell dispensary related products and services including but not limited to CaNNaBoX™. It is important to understand, CaNNaBoX™ robotic dispensaries are secure delivery and control systems for use in licensed cannabis dispensaries and not "vending machines". Their specific design benefits public safety, governance, dispensaries, and consumers.

HempTech has also signed an agreement with Colorado Flower Company to provide turnkey state-of-the-art technology for their grow facility which is being built on our land in Colorado. The contract calls for $1.5M and the technology is leased at $190K per month for five years.

FutureLand Corp.

On October 06, 2014, the Company has formed a 100% owned subsidiary: FutureLand Properties, LLC in the state of Colorado. FutureLand's primary purpose is to purchase properties for lease back or lease to Hemp farmers and medical cannabis growers. FutureLand Properties purchased a 240 acres of agricultural land in the southern Colorado. FutureLand Properties, LLC, closed on 237 acres in southern Colorado on October 30th, 2014 for the purpose of leasing to licensed Cannabis and Hemp growers. The decision was made based on increased demand for medical and recreational cannabis and loosening of some restrictions in Colorado. We believe the future of cannabis grows will belong to large state-of-the-art facilities much like agricultural industry. In Colorado and other legal states, only few large cannabis grow facilities will remain which would allow for easier supervision and administration by the State and Federal government.

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FutureLand Corp. (FUTL), is a leading provider of strategic real estate investment and grow facilities and solutions to the global cannabis industry. FutureLand merged with Aegea Inc in March 2015 and have gone through the process of getting new ticker symbol established and approved through FINRA and became a public company. We believe this will be a real boon for shareholders as we expect great things from FutureLand Corp. in the not too distant future. We are also in the process of clearing the S1 for filing with SEC. Initial documentation is the substantial part of the process. FutureLand has been very busy building a sustainable business plan and laying the groundwork for an incredible and productive year.

Recent Company Events

On October 17th, 2014, Mr. Cameron Cox was selected as CEO of FutureLand Properties, LLC. Company's initial land and property acquisition strategy will be geared toward negotiating, leasing or acquiring hemp farms and legal medical marijuana dispensary locations nationwide. Negotiating property locations for Hemp farming and, especially, medical marijuana dispensaries with quality control-labs will be a key factor in success. With thousands of dispensaries popping up nationwide and thousands of acres of land that will be earmarked for hemp farming, the Company sees great opportunity to be part of the land or location deal transactions.

On March 10, 2015, an Exchange Agreement was entered (the "Agreement"), by and among certain shareholders and debt holders of the Company, representing the majority of the outstanding shares of the Company ("the AEGA Holders"), and FutureWorld, Corp. (hereafter referred to as "FWDG"), a Delaware Corporation which is the owner of the wholly owned subsidiary, FutureLand Properties, LLC, (hereafter referred to as "FLP"), a Colorado Limited Liability Corporation. Additionally, on June 1, 2015, FWDG, as sole member of FLP resolved that effective with the Exchange Agreement dated March 10, 2015, FWDG sold all rights, title and ownership of FLP to the Company, including all member units, assets, intellectual property, contracts, leases, and real property which includes 200 acres in La Vita, Colorado.

In connection with the Exchange Agreement, the Company issued an aggregate of 27,845,280 shares of its common stock to FWDG and or its assignee. FWDG and the AEGA Holders entered into the purchase and exchange agreement where the AEGA Holders agreed to deliver to FutureWorld their shareholdings in the Company in exchange for certain actions, including AEGEA Holders resignation as directors and officers of the Company and the simultaneous appointment of two directors as designated by FLP. In return for the AEGEA Holders shares of the Company, in combination with certain debt forgiveness totaling $100,000 by the AEGEA Holders, the AEGA Holders shall receive, an amount of shares to be equal to 4.9% of the outstanding shares of the Company calculated after the reverse stock split which became effective on May 1, 2015. Such shares as held by the AEGA Holders which are surrendered in return for the new exchange shares to be issued, shall be cancelled in such exchange and returned to treasury. Such exchange shares when issued shall contain certain anti-dilutive rights whereby the AEGEA Holders shall receive additional shares for a period of one year from the date of issuance in order to retain 4.9% of the outstanding shares of the Company, issuable within ten days of the end of each fiscal quarter following such initial issuance. Pursuant to the Agreement, all assets of the Company, including all intellectual property, contractual rights, business plans, architectural works, property rights, and other valuable matters, shall be sold to the AEGA Holders, into a new private entity formed at their direction, control and benefit, in settlement for another $100,000 in debt due to AEGEA Holders by the Company and certain liabilities will be assumed by the new private entity.

In May 2015, the Company changed its name to FutureLand, Corp. and effected a 1 for 400 reverse stock split of the Company's common stock.

As of the date of this report, certain required actions have been taken by the parties such as change in management and the issuance of 27,845,280 common shares as discussed above and such Exchange Agreement is binding on the parties with closing subject to the completion of remaining actions. Upon closing and the contemplated cancellation of all outstanding shares of Series B convertible preferred stock, this transaction is expected to be accounted for as a reverse recapitalization of FLP with the business of FLP being the continuing business since the member of FLP will have voting and management control of the combined entity.

On January 1, 2015, Mr. John Verghese was elected as the CEO of HempTech Corp.

On January 1, 2015, Mr. Terry Gardner was elected as the VP of development of HempTech Corp.

On March 28st, 2015, the Company has terminated Mr. Bill Short as then CEO of CB Scientific. The company has also initiated a law suit against Mr. Short for breach of contract and fraud.

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Our Strategy

Our strategic plan consists of the following:

	1.	Continued expansion of our worldwide network of hemp farmers.
	2.	Establish the infrastructure to grow hemp domestically in accordance with federal and state law
	3.	Continue to develop our product offerings containing natural, hemp-based CBD.
	4.	Continue research and development to characterize additional cannabinoids to drive continued product development.
	5.	Continue to develop our manufacturing process on our CBD and THC test kits and seek patent protections for our unique processes.
	6.	Evaluate strategic acquisitions

Hemp – an Overview

Hemp is an industrial plant related to marijuana. Fiber from the plant has long been used to make paper, clothing, rope and other products. Its oil is found in body-care products such as lotion, soap and cosmetics and in a host of foods, including energy bars, waffles, milk-free cheese, veggie burgers and bread.

Numerous uses exist, including hemp plant extracts that are used as a medicine, nutritional supplements and food sources. Beyond this, applications into textiles, building materials, bio-fuels, paper, bio-plastics, livestock feed/bedding as well as personal care products are readily available.

Hemp is a cousin to marijuana as both are classified under the same biological category of Cannabis L Sativa. The basic difference between the two is that marijuana has significant amounts of tetrahydrocannabinoil (THC) (5–20%), a psychoactive ingredient; whereas hemp has virtually no THC (less than 0.3%). This 0.3% THC in hemp is not high enough to provide the colloquial "high" to support recreational usage. Typical marijuana ranges from 5–20% THC for psychoactive usage. Canada, China and the United Kingdom are examples of major industrialized countries that have grown hemp responsibly and thrived from their endeavors.

Changes in the Law and Development Programs

For the first time since 1937, industrial hemp has been decriminalized at the federal level and can be grown legally in the United States, but on a limited basis. A landmark provision in the recently passed Agricultural Act of 2014 recognizes hemp as distinct from its genetic cousin, marijuana. Federal law now exempts industrial hemp from U.S. drug laws in order to allow for crop research by universities, colleges and state agriculture departments. The new federal law, written by U.S. Rep. Jared Polis (D-CO) and U.S. Sen. Mitch McConnell (R-KY), allows for agricultural pilot programs for industrial hemp "in states that permit the growth or cultivation of hemp."

Market, Customers and Distribution Methods

The market, customers and distribution methods for hemp-based products are large and diverse. These markets range from hemp-based bio plastics to textiles. This is an ever-evolving distribution system that today only has a few outlets in mainstream commercial and retail stores. However, we believe that as awareness grows for the "green," environmentally-friendly products derived from hemp\cannabis, the industry will adapt its current product lines to integrate them with hemp-based additives or replace harmful components in their existing products with the components of hemp\cannabis.

To understand the market and consumers as well as distribution methods, we have studied all the uses of hemp\cannabis and its legal structure in the U.S. and abroad, including in the European Union, Africa and Latin America. There are more than 50,000 known uses for hemp\cannabis based products, most of which were used in the past and were replaced by cotton, petroleum\oil, concrete, corn and soybeans. We believe the market potentially represents trillions of dollars in worldwide product sales. We will focus on the products management feels will have the greatest positive environmental impact, profitability and ease to market. These tend to be new, innovative products as well as the replacement of raw base materials for products that exist today, such as plastics, fuel, textiles, foods and medical delivery devices.

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Our target customers are first and foremost end consumers via Internet sales, direct-to-consumer health and wellness stores, collectives, cooperatives, affiliate sales and master distributors. Secondarily, we are targeting manufactures of products that can readily replace their raw base materials for our base materials, making the products more environmentally friendly and sustainable. Next, we will target retail stores with major distribution companies who have preexisting relationships with major retail chain stores. As we continue to develop our business, these markets may change, be re-prioritized or eliminated as management responds to consumer and regulatory developments.

Intellectual Property

We have filed trademark applications on our brands, logos and marks including CaNNaBoX, URVape, CannaTRAK, CannaBIT, HempTechRx, CaNNaLyTiX, DispenseTek, ejoint, URCig, and SmartVape. We review our intellectual property portfolio on a periodic basis and we will continue to broaden our portfolio in a fiscally prudent manner. We intend to file for patent protection on certain products and methods important to our business, as those processes are developed and patentable.

We rely on a combination of patent and trademark filings, laws that protect intellectual property, confidentiality procedures, and contractual restrictions with our employees and others to establish and protect our intellectual property rights. As of July 14, 2015, the Company is preparing to file five patents applications with USPTO. Patent applications will be a combination of Utility and Design patent applications that provide coverage around certain core Company technology. If issued, Design patents provide protection for 15 years from the date of issue. Utility patents provide protection for 20 years from the earliest non-Provisional application filing date. Subject to ongoing use and renewal, trademark protection is potentially perpetual.

Research and Development

We opened a laboratory facility in Denver, Colorado in May 2014. Our lab specializes in process development and product testing. We incurred research and development expenses of $ 57,509.05 at the time of this document. We opened another lab at our location in Saint Petersburg, FL in January 2015. The lab, Bioceutical Sciences, is a new avant-garde laboratory, professionally run production, formulation, and analytics lab working on their ISO/IEC 17025:9001 and CGMP certifications to establish themselves as one of the most premier cannabis related research and production labs in the country. A well-seasoned team mentored by some of the most prominent cutting-edge scientists from around the world will be bringing these and many more processes to the fore:

·	Water-soluble Cannabidiol
·	Convergence, high pressure liquid, gas, and thin layer chromatography methods
·	Mass Spectrometry (molecular mass)
·	Liposomal formulations
·	Electron microscopy (SEM and TEM)
·	Supercritical extraction and chromatography
·	Research consultation

Currently Bioceutical Sciences(TM) manufactures, designs, processes and develops the following:

·	(Hemp) CBD oil testing and analytics
·	Raw (Hemp) CBD oil
·	Processed (Hemp) CBD oil with multi-variation in strength and quality
·	(Hemp) CBD oil formulations such as Vapes, Tinctures, Pills, Capsules, Edibles, and custom formulations for nutraceutical companies
·	Bioceutical Sciences(TM) products and services are also available as Private label to retailers, wholesalers and distributors worldwide.

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Bioceutical Sciences(TM) has also been instrumental in developing unique products for CB Scientific, and URVape and will continue to do so in the foreseeable future.

Source and Availability of Raw Materials for CBD Oil

The Company looks to receive raw materials from several suppliers during 2014 and 2015. The Company is making arrangements with multiple suppliers which are expected to meet the projected needs for materials for the upcoming years.

Government Regulation

Government Patent on Cannabinoids

Government Regulation as antioxidants and neuroprotectants – Abstract

Cannabinoids have been found to have antioxidant properties, unrelated to NMDA receptor antagonism. This new found property makes cannabinoids useful in the treatment and prophylaxis of wide variety of oxidation associated diseases, such as ischemic, age-related, inflammatory and autoimmune diseases. The cannabinoids are found to have particular application as neuroprotectants, for example in limiting neurological damage following ischemic insults, such as stroke and trauma, or in the treatment of neurodegenerative diseases, such as Alzheimer's disease, Parkinson's disease and HIV dementia. Non-psychoactive cannabinoids, such as cannabidoil, are particularly advantageous to use because they avoid toxicity that is encountered with psychoactive cannabinoids at high doses useful in the method of the present invention. A particular disclosed class of cannabinoids useful as neuroprotective antioxidants is formula (I) wherein the R group is independently selected from the group consisting of H, CH.sub.3, and COCH.sub.3. ##STR1##.

MISSION STATEMENT

FutureWorld Corp will seek out and capitalize on companies that have developed or, are developing; disruptive technologies in Hemp/Cannabis science thereby creating several subsidiary companies that will dominate their sector.

Business Summary

The address of our executive offices is: 3637 4^th Street North, Saint Petersburg, FL 33704 and our telephone number at that address is 427-474-1816. The address of our web site is www.futureworldcorp.com. The information at our web site is for general information and marketing purposes and is not part of this quarterly report for purposes of liability for disclosures under the federal securities laws.

FutureWorld Corp., a Delaware corporation, is a U.S. diversified Industrial Hemp/ Medical Cannabis Company, which together with its subsidiaries, focuses on the identification, acquisition, development, and commercialization of Hemp/Cannabis products, services and technologies globally under the banner of Cannabis 2.0.

We are seeking to acquire minority or full interest in currently operating companies and disruptive technologies in the Industrial Hemp/Medical and Recreational Cannabis Industry globally; such as vaporizers, lab testing, tracking systems, security, Cannabidiol (CBD) oil, testing kits, financial solutions, dispensaries and other needed components. Our goal is to provide our acquired companies, current and future shareholders a clear strategy for the growth of their companies and their investment in those companies.

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NutraCann Labs Inc.

The present usage for CBD oil in the United States is estimated to be approximately 1,000-2,000 Kilograms a year and growing and with a yearly value of around $200,000,000. Currently, the apparent current competitors are; CannaVest, Inc. and Medical Marijuana, Inc., which own portions of each other's companies, are the primary supplier of CBD oil in the United States. They supply the product in bulk to affiliate distributors and sell it retail in plastic tubes that are refined up to three levels. Real Scientific Hemp Oil™ is their trademark name.

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CB Scientific, Inc.

URVape, Inc.

We are also developing new methods of producing, packaging and flavoring a variety of e-liquids with the intention to provide consumers with happy, healthy and potentially curative products.

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HempTech Corp:

CaNNaTRAK™ software easily tracks assets using bar coding, radio frequency (RFID), imaging, and wireless technologies. CaNNaTRAK™ software is designed under the client/server architecture, is multi-user and menu-driven following industry-standard MS Windows protocols and graphical user interfaces. CaNNaTRAK™ applications are compatible with MS Windows XP, Vista, Windows 7 & 8.1 operating systems and with SQL Server 2008 through 2013.

CaNNaTRAK's mobile information applications are compatible with Windows Mobile devices and are tightly integrated with; bar coding, RFID, GPS, imaging, biometrics and wireless technologies. 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, 22 (any change since November elections?)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.

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FutureLand Corp.

On October 06, 2014, the Company formed a 100% owned subsidiary: FutureLand Properties, LLC in the state of Colorado. FutureLand's primary purpose is to purchase properties for lease back or lease to Hemp farmers and medical cannabis growers. FutureLand Properties purchased a 240 acres of agricultural land in the southern Colorado. FutureLand Properties, LLC, closed on 237 acres in southern Colorado on October 30th, 2014 for the purpose of leasing to licensed Cannabis and Hemp growers. The decision was made based on increased demand for medical and recreational cannabis and loosening of some restrictions in Colorado. We believe the future of cannabis grows will belong to large state-of-the-art facilities much like agricultural industry. In Colorado and other legal states, only few large cannabis grow facilities will remain which would allow for easier supervision and administration by the State and Federal government.

FutureWorld Corp. employs a business model geared towards maximizing value for our shareholders. We identify the potential acquisition, complete an extensive due diligence process and if all requisite factors meet our criteria, the acquisition is then secured. FutureWorld targets technologies, companies or ideas that are mature enough to provide an exit timeframe of one to three years. A great deal of emphasis is paid to the due diligence process. Technologies are evaluated in terms of their usefulness, effectiveness, revenue potential and time to market.

Following successful evaluation, these companies /technologies are then acquired with a cash and/or stock deal, with FutureWorld Corp usually holding a significant majority stake of the new entity. To capitalize on the opportunities the company offers, FutureWorld then begins the process of developing the technology/company with infrastructural and financial support. As the company continues in its measured growth pattern, FutureWorld positions it to either; enter the public arena, maintain the company as a wholly owned subsidiary, or sell the technology/company to gain a return.

The uniqueness of the FutureWorld Corp business model is that it can reward the shareholder base in several ways. If the FutureWorld board of directors has determined that a company is ready to begin trading on its own, then all FutureWorld shareholders receive dividend shares in the new public entity as well as retaining their current stake in FutureWorld.

Moreover should the board of directors decide to sell the technology or company outright, FutureWorld shareholders would receive a cash dividend on the sale of the asset.

Finally, if the company is better served to stay as a wholly owned component of FutureWorld, then revenues generated from this would be a direct income stream for FutureWorld thereby increasing shareholder value and capital strongholds for future acquisitions.

FutureWorld Corp. is also actively seeking joint venture partners in the Hemp/Cannabis space. We identify strategic partners to come along side of in order to make use of each other's strengths to more fully saturate the market and provide needed industry solutions.

On December 5, 2014, the Company announces the completion of a Commercial Lease Agreement effective 1st day of December, 2014 by and between FutureLand Properties, LLC, a Colorado corporation ("Landlord") and Colorado Flower Company, LTD. ("Tenant"). FutureLand is the owner of land and improvements commonly known as TWP 27 RNG 68 SEC 25: NE4NW4 LESS 3 ACRES FOR RIGHT OF WAY TOTAL ACRES 37, La Vita Colorado 81011 (hereinafter the "Property"). FutureLand will be the owner of a 14,940 square foot greenhouse and any other structures to be constructed/situated on the Property. The greenhouse and land may be collectively referred to hereinafter as the "Leased Premises.". This Commercial Lease Agreement is for five (5) years and FutureLand shall also grant to the Tenant additional three (3) years options to renew this Commercial Lease at Tenant's sole discretion.

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The Company is to finance and build 2000+ plant cannabis cultivation greenhouse for Colorado Flower Company on a 37 acres property owned by the Company. This large cultivation facility will be one of many on the same property. Company is also to provide high tech automation solutions to control all processes in the greenhouses based on HempTech's state-of-the-art technologies.

The Company (through separate agreements with HempTech and CB Scientific) will provide greenhouse, processing equipment, Spider Security Technology, SmartSense, SmartNergy, CaNNaLyTiX, and growing/laboratory equipment located on the Property provided by HempTech Corp and CB Scientific. HempTech Corp., a FutureWorld Corp. subsidiary, will supply Spider Security Technology, SmartSense, SmartNergy and CaNNaLyTiX. CB Scientific, a FutureWorld Corp. subsidiary, will supply all testing and laboratory equipment to the Grow.

The master lease agreement calls for $575,000 monthly lease payments for the land, the greenhouse and the technology for five years. FutureLand Properties only leases the land, infrastructure and technologies. It does not grow or sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).

Spin-Off of FutureLand Properties, LLC.

On March 10, 2015, an Exchange Agreement was entered (the "Agreement"), by and among certain shareholders and debt holders of the Company, representing the majority of the outstanding shares of the Company ("the AEGA Holders"), and FutureWorld, Corp. (hereafter referred to as "FWDG"), a Delaware Corporation which is the owner of the wholly owned subsidiary, FutureLand Properties, LLC, (hereafter referred to as "FLP"), a Colorado Limited Liability Corporation. The Exchange Agreement called for transfer all rights and assets by FLP into AEGA. The transfer was completed on June 1, 2015, FWDG, as sole member of FLP resolved that effective with the Exchange Agreement dated March 10, 2015, FWDG sold all rights, title and ownership of FLP to the Company, including all member units, assets, intellectual property, contracts, leases, and real property which includes 200 acres in La Vita, Colorado. The Exchange Agreement became effective on June 9th, 2015 after the completion of the transfer.

In connection with the Exchange Agreement, we issued an aggregate of 27,845,280 shares of our common stock to FWDG and or its assignee. FWDG and the AEGA Holders entered into the purchase and exchange agreement where the AEGA Holders agreed to deliver to FutureWorld their shareholdings in the Company in exchange for certain actions, including AEGEA Holders resignation as directors and officers of the Company and the simultaneous appointment of two directors as designated by FLP. In return for the AEGEA Holders shares of the Company, in combination with certain debt forgiveness totaling $100,000 by the AEGEA Holders, the AEGA Holders shall receive, an amount of shares to be equal to 4.9% of the outstanding shares of the Company calculated after the reverse stock split which became effective on May 1, 2015. Such shares as held by the AEGA Holders which are surrendered in return for the new exchange shares to be issued, shall be cancelled in such exchange and returned to treasury. Such exchange shares when issued shall contain certain anti-dilutive rights whereby the AEGEA Holders shall receive additional shares for a period of one year from the date of issuance in order to retain 4.9% of the outstanding shares of the Company, issuable within ten days of the end of each fiscal quarter following such initial issuance. Pursuant to the Agreement, all assets of the Company, including all intellectual property, contractual rights, business plans, architectural works, property rights, and other valuable matters, shall be sold to the AEGA Holders, into a new private entity formed at their direction, control and benefit, in settlement for another $100,000 in debt due to AEGEA Holders by the Company and certain liabilities will be assumed by the new private entity.

As of July 22, 2015, the Company has not issued the 4.9% of the outstanding shares of the Company calculated after the reverse stock split to the AEGA Holders.

In May 2015, we changed our name to FutureLand, Corp. and effected a 1 for 400 reverse stock split of our common stock. All share and per share data in this annual report have been retroactively restated to reflect the reverse stock split.

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The board of directors, post director change, purchased the assets and corporation being FutureLand from FWDG in exchange for the shares to be issued, which shall be distributed by FWDG. On March 16, 2015, the then current board of directors of Aegea, Inc. Keith Duffy, Scott Duffy, Carran Schneider, David Zajac and Lou Fuoco, did resign as directors of the Corporation, concurrent with the simultaneous appointment of Saed "Sam" Talari and John Verghese being appointed as the sole directors of Aegea, Inc.

The transaction is an arm's length transaction and there are no material relationships and conflicts between the parties. Mr. Talari or Talari Industries, has no relationship or ownership of the other party of this transaction.

Disruptive Innovation

Harvard economist Clayton M. Christensen coined the term "Disruptive Innovation" in 1997, to describe technologies that deliver a more effective and/or profitable alternative than the incumbent solutions. FutureWorld recognizes that such innovations carry the promise of tremendous revenue potential provided that sound business strategies and processes are devised, implemented and executed.

To this end, FutureWorld expends considerable efforts in identifying and evaluating prospective technologies/companies for acquisition. We have a global network in place that taps the scientific community, monitors industry developments and entertains ideas from entrepreneurs. Our core management team has a combined experience of 70 years in investment, operations and executive management within the global telecommunications, medical, engineering and software fields. This vast experience allows FutureWorld the unique opportunity to clearly decipher the true potential of disruptive technologies and their consequent benefit to FutureWorld and its shareholder base.

Building strong companies

We are acutely aware that the technologies we target, by their very nature, have the potential to positively impact many lives, and take this aspect of our business very seriously. We consider the Hemp/Cannabis products to be among the best in the world. From both the wide swath of products that can be made, to the jobs they can provide, to the medicinal value that can be harnessed. This entire industry is rife with boundless growth potential but must be approached in the right way. We believe in protecting the patients, protecting the children and protecting the plant.

FutureWorld's richly experienced management team appreciates exactly what it takes to build successful and effective companies. We understand that the most important building blocks of a company are its people. Our strategy is to locate and assemble highly motivated senior management teams, placing an emphasis on integrity, proven experience within the industry and a proven track record. We extend extremely generous milestone-based remuneration packages, with meaningful ownership positions that are geared to motivate and drive our colleagues to produce the desired results.

The inventors or founders of a particular technology may not always be the best entrepreneurs around which to build an effective company. Therefore, senior management is appointed strictly on merit; it is not uncommon for FutureWorld to bring in fresh minds to these key positions. This is especially true regarding the Hemp/Cannabis space.

FutureWorld also provides the new or acquired company with pertinent experience through its own personnel in board member, directorship and advisory capacities. Furthermore, FutureWorld's team is instrumental in providing valuable contacts for the development of the company's business, infrastructure and strategic partnership opportunities.

Initial capital requirements, to finance the company through its development phase, is either directly funded by FutureWorld or arranged through loans and or debt/equity instruments with our financial partners. We sustain the company as it establishes its strategies and relationships, providing critical infrastructural and personnel needs. FutureWorld then assists the subsidiaries as they go through their own initial rounds of raising funds through a broad range of instruments, including private equity investments, loans and grants.

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The subsequent phase of the company is the key; as it must execute its business plan and achieve the agreed targets that have been set. FutureWorld continues to provide the support needed for sustained growth. The subsidiary company's management is completely responsible for their internal growth; its progress is constantly monitored. Processes and milestones are set up on manageable timelines and financial budgets are put in place. Actual, quantifiable performances are periodically measured against these plans.

There is a constant flow of communication between the subsidiary company(s) and FutureWorld's management team. FutureWorld goes to great lengths to keep our shareholders and the market informed of the progress of each company through regular press releases, our website, social media such as Facebook and Twitter and shareholder letters.

Value Proposition

The goal for each of our investments is to provide value to our shareholders. When FutureWorld's Board of Directors votes that a wholly owned subsidiary is ready to be publicly traded on its own merits, FutureWorld manages the entire process from start to finish. FutureWorld's management team is well versed in the regulatory and procedural requirements necessary to list a subsidiary on the proper trading market. This has resulted in an established pool of key professional relationships from which to draw while this process is being completed.

Additionally, FutureWorld brings value through acquisitions. This is important as FutureWorld continues to seek and acquire disruptive technologies and companies that solve the pain points of the Hemp/Cannabis industry thereby increasing shareholder value and bottom-line profitability for the company.

A unique component of FutureWorld's business model is to provide dividends for its shareholders. This is accomplished in three ways:

Stock dividends in the newly created public entity while maintaining shareholders' current investment in FutureWorld Corp.

Cash dividend in the event the company and/or technology is sold with the payout based on current shareholding of FutureWorld Corp.

Maintaining share price through revenues of FutureWorld's wholly owned subsidiaries as a long term operator.

FutureWorld also retains a stake in the exited companies that go public thereby allowing the company to have the assets necessary to provide funding for new acquisitions.

Revenue Model

Compared to other companies in our arena, FutureWorld has a unique revenue model. Through our subsidiaries, FutureWorld will earn both revenue and create bottom-line tradeable securities value through the stock reserved from the exits.

FutureWorld earns revenue in the following ways:

Securities: As FutureWorld, we create separate public markets for our subsidiaries and retain a percentage of the freely marketable securities. FutureWorld can then sell these shares, at any time, to raise appropriate funds to execute acquisitions and/or investments in other companies/technologies.

Fees: FutureWorld's personnel provide significant direct infrastructural support to its subsidiary companies, expending many intensive man-hours in the process, as it goes through its various stages. Services include management recruitment, managerial assistance with strategic planning, human resources, real-estate management, marketing and other business matters.

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FutureWorld's team also provides financial and tax reporting support, as well as cash management, treasury and auditing.

The subsidiary companies could pay a fee for some of these services. Fees are determined by the type and length of service provided if applicable. These fees are usually deferred until the subsidiary has available cash-flow to pay for the services.

Dividends from Subsidiaries: In some instances, the wholly owned subsidiary may pay a cash dividend. Should dividend payouts occur from these subsidiaries, FutureWorld would receive these payouts as income on the shares owned, as FutureWorld retains a major portion of shares from these subsidiaries.

Risk Analysis

As FutureWorld executes its business model, there are specific challenges we must seek to overcome. Our greatest challenge is to ensure the ability of our subsidiary companies and in-house technologies to execute their own business plans. The risks from competition, market conditions, product development, fund timing and operational effectiveness all affect the success of FutureWorld's technologies and subsidiaries. For this reason, FutureWorld has assumed a more direct and "hands on" approach to achieving set goals.

FutureWorld's seasoned and successful management team's primary efforts are directed at mitigating these specific risks. These efforts include the extensive due diligence expended prior to an acquisition, the care in selecting highly motivated individuals to specific tasks and to setting up and closely monitoring goal-oriented, measurable processes.

The facilitation of the early round funding is a key; being under the FutureWorld umbrella provides these young companies access to valuable resources and contacts; as do the divisions managing the technologies within the group. FutureWorld's stated strategy is to exit the technologies/companies within three years of acquisition but our position on this is changing. FutureWorld is shifting more toward operating companies for a longer term while reserving the right to spin a company out that really needs to stand on its own. We understand that many factors contribute to the execution of this strategy and this may not be possible 100% of the time. However, timelines, a goal-oriented philosophy and keeping constant focus help to mitigate risks presented by both internal and external forces.

Competition is always a risk for any enterprise. The previous section discussed the types of companies with whom FutureWorld competes for deal-flow and potential investments. Through the FutureWorld team's extensive networks, participation in investment community's events as well as alliances with consulting firms such as Florida Cannabis Coalition and The Arcview Group, FutureWorld has superb access to constant deal-flow in the areas it targets for investment.

FutureWorld Corp. is a publicly traded company and therefore exposed to the risk of market volatility and external factors that affect stock performance. FutureWorld attempts to mitigate such risks by providing a constant flow of information to our shareholders via press releases, through our corporate website and social media.

We believe our model is very compelling to the investment community. Strong leadership, vast experience in management, operations and financing make an investment in FutureWorld a solid, sound decision.

About FutureWorld Business Model

FutureWorld Corp., a Delaware corporation, is a U.S. Diversified Hemp/Cannabis Holding and Operating Company listed on the Over the Counter exchange market.

FutureWorld is seeking to acquire minority or full interest in currently operating companies and disruptive technologies in the Hemp/Cannabis Industry globally; such as vaporizers, CBD oil, Testing Kits, Lab Testing, Security, Tracking, Soils, Energy Management, Dispensaries Edibles and grows. Our goal is to provide our acquired companies, current and future shareholders a clear strategy for the growth of their companies and their investment in those companies. Companies we bring in, if warranted, may be spun out on their own or sold, thereby creating cash or share dividends to all shareholders including the management and the companies.

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About the Hemp/Cannabis Market

Legal marijuana is among the fastest-growing markets in the United States, and it's growing at a rate poised to outpace the expansion of the global smartphone market, according to a new report obtained exclusively by The Huffington Post.

Researchers surveyed hundreds of medical cannabis retailers, processors, dispensary owners and industry leaders over the course of six months this year, and estimated that more than $1.43 billion worth of legal marijuana will be sold in 2014. The report also predicts that figure to grow by 64 percent, to $2.34 billion next year. By comparison, recent figures show the smartphone market expanded 46% from 2012 to 2014.

The fact is that this increase represents the fastest growth rate of any US industry that ArcView Market Research could find.

Medical marijuana is currently legal in 22 states and the District of Columbia. (Just modified now as Florida has passed legal medical cannabis with the Charlotte's Web strand; full strength medical marijuana is set for vote on Nov. 4, 2015) Colorado is predicted to add $359 million to its existing market in 2014 and $500 million in 2015.

The marijuana industry's growth coincides with a widespread shift in the public's attitude toward the substance. A Gallup poll conducted last month found that for the first time in history, more than half of Americans think pot should be legal for both medical and recreational purposes. A CNN documentary that aired this summer explored marijuana's benefits for a mainstream audience. "There has been a seismic shift in public attitudes towards marijuana," Berg said, explaining that as public opinion changes, laws are likely to follow. "Younger voters will become a bigger proportion of the overall voting base. It begins with shifts in attitudes and that translates to initiatives."

The report predicts that 14 more states will legalize marijuana for recreational adult use in the next five years, creating a potential $10.2 billion cannabis market by 2018. Berg added that his research only examined the sale of cannabis itself, whether wholesale to retailers or directly to consumers. He said that the market for ancillary products, such as security equipment, grow tools, apps and paraphernalia, has the potential to drive growth still further.

Our Acquisition Strategy

To cater to this ever expanding Hemp/Cannabis movement, FutureWorld intends to become a unique diversified picks and shovels company by acquiring minority (or majority) stake in small and medium size and disruptive Hemp/Cannabis related Technology companies globally. The process of the acquisition of any targeted companies is as follows;

1.	Locate and seek out unique and disruptive companies within the industry that have unique products, billion dollar market potential and strong management team.
2.	Assess their product path and stage of development, the required funding and corporate structural need.
3.	Purchase a minimum of 10% to 100% stake of these companies based on factors such as, market valuation, funding need, market potential and internal negotiations. Acquisition would be structured through a stock exchange by and between FutureWorld and the target company (public or private) or cash or both.
4.	Each company will have a representative on the board of the directors of FutureWorld and selected member of their management teams may be offered corporate positions with FutureWorld.
5.	Minority held companies will keep control in decision making and policies.
6.	With each successive acquisition by the parent company, FutureWorld, the shares held by the investors and the acquired companies will become more valuable and stronger.
7.	Foster the growth of the acquired company by our assistance to its management, and by corporate, product development, sales, expansion and funding support.
8.	The acquired company may be sold, through a clear exit strategy, or spun out as a public company on one of the trading exchanges, such as the Bulletin Board Pink Sheets, by the decision of its board of directors and assistance by FutureWorld or held to operate for the long term. This will insure the ability for the company to attract investors and raise sufficient capital for operations and any and all capital expenditures.

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Role of FutureWorld and Benefits to the Acquired Companies

FutureWorld will be responsible for the following:

1.	Working closely with the management to develop a proper business plans in order to attract investors and to insure the company remains in a high growth path.
2.	Author a Private Placement Memorandum in order to sufficiently raise capital to execute the new and approved business plan.
3.	Develop a workable budgets, business and financial plans.
4.	Assist in attracting and hiring necessary personnel for operations.
5.	Assist in building the necessary infrastructure to support the company's goal, acquiring machinery and equipment, funding alternatives, and management expertise in their particular area of operations.
6.	Schedule meetings with private investors, capital groups, fund managers and investment houses in order to properly raise the sufficient capital needed to execute the business plan.
7.	Increase value in your FutureWorld shares with each additional acquisition.
8.	Cross marketing, joint ventures and sales opportunity with sister companies and prospective acquisition targets.
9.	Expertise input from qualified management team from the sister companies.
10.	Increase in your company's overall valuation.
11.	Provide exit strategy support through a sale or an Initial Public Offering.
12.	Provide support with listing the company on an appropriate trading exchange including all accounting, legal, SEC filings, and Edgar filings.
13.	Manage the public market with respect to all investor relations, public relations and trading of securities.
14.	Manage any and all mergers and acquisitions.
15.	Run day-to-day operations of some companies with the intent to grow revenues for the company and its shareholders.

Our Employees

At the date of this annual report, we have eight full-time employees. Sam Talari, our CEO, director. Cameron Cox, our VP of Business Development and CEO of FutureLand Corp. Henry Biza, CEO of CB Scientific. Kevin Defant, our Product Development Tech. John Verghese, CEO of HempTech. Terry Gardner, VP of HempTech. Alan Mathon, principle scientist for Bioceutical Sciences. Karin Rohret, Controller.

Item 1A. Risk factors

Not applicable to a "smaller reporting company" as defined in Item 10(f)(1) of Regulation S-K.

Item 1B. Unresolved staff comments

None.

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Item 2. Properties

During the Company's initial stage, it has limited need for use of office space or equipment. We maintain our executive's offices in office space provided by the principals at no cost to the Company in Saint Petersburg, Florida. We believe the facilities are adequate for our operational needs. We may require additional offices in the event we obtain funding and acquire customers.

Item 3. Legal proceedings

(a) On Monday March 30, 2015, FutureWorld Corp, filed a fourteen count lawsuit in the Circuit Court in Pinellas County, Florida against several former consultants and two entities owned by such persons. The fourteen counts include counts for theft of intellectual and actual property, embezzlement, computer fraud, tortious interference with existing business relationships, and for an immediate injunction against all the defendants named to stop them from conducting any business transactions or being involved in the same business as CB Scientific and related FutureWorld entities. All the named individual defendants had been contracted consultants to the Company and subject to non-competition and non-circumvention agreements. In the lawsuit it is alleged that these defendants purposefully stole test kit properties, plans, and attempted to derail and stall sales of test kits, all the while setting up their own businesses to compete with FutureWorld's CB Scientific, in violation of their agreements contractually. FutureWorld has sued Bill Short, Derek Lebahn, Charles Steinberg, Richard Buck, Ander Marlatt, Herbal Synergy, LLC and JCRAB Industries. FutureWorld will pursue actual damages, punitive damages, as well as an injunctive order against all defendants for ceasing all business activities in all of the CB Scientific business arena or activities related to FutureWorld's business.

(b) We did not terminate any legal proceedings during the fourth quarter of our 2015 fiscal year.

Item 4. Mine Safety Disclosures

Not Applicable

PART II

Item 5. Market for registrant's common equity, related stockholder matters and issuer purchases of equity securities

Our common stock is quoted on OTC Pink Sheets under the symbol "FWDG".

Price History of our common stock.

The following table sets forth high and low bid quotations for the quarters indicated and trading volume data for our common stock for the period indicated. These quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission, and may not necessarily represent actual transactions.

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	High Bid		Low Bid
Fiscal 2014:
Fourth Quarter	$	.042	$	.034
Third Quarter	$	.01	$	.01
Second Quarter	$	.01	$	.008
First Quarter	$	.01	$	.005

Fiscal 2015:
Fourth Quarter	$	.005	$	.0007
Third Quarter	$	.011	$	.005
Second Quarter	$	.030	$	.022
First Quarter	$	.024	$	.018

As of March 31, 2015, we had 349 shareholders of record and approximately 5300 beneficial shareholders, and we had 731,525,768 shares of $0.0001 par value common stock outstanding.

Dividend Policy

We have never declared or paid any cash dividends on our capital stock. We do not have earnings out of which to pay cash dividends. Our board of directors has the authority to declare cash dividends when and if we have earning sufficient for that purpose.

Equity Compensation Plan

See description our Stock Option Plan in Item 12.

Transfer Agent

We have engaged ClearTrust Stock Transfer, Inc. to serve as our stock register and transfer agent. ClearTrust's address is 17961 Hunting Bow Circle, Unit 102, Lutz, FL 33558.

Item 6. Selected financial data (Unaudited)

Not applicable

Item 7. Management's discussion and analysis of financial condition and results of operations

Our significant accounting policies are more fully described in Note 1 to the financial statements. However, certain accounting policies are particularly important to the portrayal of our financial position and results of operations and require the application of significant judgment by our management; as a result they are subject to an inherent degree of uncertainty. In applying these policies, our management uses their judgment to determine the appropriate assumptions to be used in the determination of certain estimates. Those estimates are based on knowledge of our industry, historical operations, terms of existing contracts, and our observance of trends in the industry, information provided by our customers and information available from other outside sources, as appropriate.

- 25 -

Our critical accounting policies include:

Basis of Presentation

The financial statements include the accounts of FutureWorld Corp under the accrual basis of accounting.

Management's Use of Estimates

The Company adopted the provisions of Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"). ASC 825-10 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. ASC 825-10 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 825-10 establishes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

All items required to be recorded or measured on a recurring basis are based upon level 3 inputs.

To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value measurement

The Company recognizes its derivative liabilities as level 3 and values its derivatives using the methods discussed below. While the Company believes that its valuation methods are appropriate and consistent with other market participants, it recognizes that the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. The primary assumptions that would significantly affect the fair values using the methods discussed are that of volatility and market price of the underlying common stock of the Company.

Deferred Taxes

The Company accounts for income taxes under Section 740-10-30 of the FASB Accounting Standards Codification. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance to the extent management concludes it is more likely than not that the assets will not be realized. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statements of operations in the period that includes the enactment date.

Cash and Cash Equivalents

For purposes of the Statement of Cash Flows, the Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents.

- 26 -

Accounts Receivable and Allowance for Doubtful Accounts

The Company monitors outstanding receivables based on factors surrounding the credit risk of specific customers, historical trends, and other information. The allowance for doubtful accounts is estimated based on an assessment of the Company's ability to collect on customer accounts receivable. There is judgment involved with estimating the allowance for doubtful accounts and if the financial condition of the Company's customers were to deteriorate, resulting in their inability to make the required payments, the Company may be required to record additional allowances or charges against revenues. The Company writes-off accounts receivable against the allowance when it determines a balance is uncollectible and no longer actively pursues its collection. As of March 31, 2015 and 2014, based upon the review of the outstanding accounts receivable, the Company has determined that an allowance for doubtful accounts is not material. The allowance for doubtful debts is created by forming a credit balance which is deducted from the total receivables balance in the statement of financial position. This works in the same way as accumulated depreciation is deducted from the fixed asset cost account. The allowance for doubtful debts reduces the receivable balance to the amount that the entity prudently estimates to recover in the future.

As of March 31, 2015, the Company has $68,033 trade receivable and $86,123 in related party receivable.

Property and Equipment

Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives of 3 to 5 years. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings.

Revenue Recognition

The Company recognizes revenue when services are realized or realizable and earned less estimated future doubtful accounts. The Company considers revenue realized or realizable and earned when all of the following criteria are met:

	(i)		persuasive evidence of an arrangement exists,
	(ii)		the services have been rendered and all required milestones achieved,
	(iii)		the sales price is fixed or determinable, and
	(iv)		Collectability is reasonably assured.

Marketable securities and other investments

Marketable equity securities included in marketable securities (current) and other investments (non-current) are stated at the lower of cost or market in the aggregate. Other marketable securities included in marketable securities (current) are stated at the lower of cost or market in the aggregate and investments other than marketable equity securities in other investments (non-current) are stated at cost less any significant decline in fair value assessed to be other than temporary. Realized gains and losses on the sale of securities are based on the average cost of all the units of a particular security held at the time of sale.

Comprehensive Income (Loss)

The Company reports comprehensive income and its components following guidance set forth by section 220-10 of the FASB Accounting Standards Codification which establishes standards for the reporting and display of comprehensive income and its components in the financial statements. There were no items of comprehensive income (loss) applicable to the Company during the periods covered in the financial statements.

Convertible Debentures

If the conversion features of conventional convertible debt provides for a rate of conversion that is below market value at issuance, this feature is characterized as a beneficial conversion feature ("BCF"). A BCF is recorded by the Company as a debt discount pursuant to ASC Topic 470-20 "Debt with Conversion and Other Options." In those circumstances, the convertible debt is recorded net of the discount related to the BCF, and the Company amortizes the discount to interest expense, over the life of the debt.

Stock-Based Compensation

The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. For employees and directors, the fair value of the award is measured on the grant date and for non-employees, the fair value of the award is generally re-measured on vesting dates and interim financial reporting dates until the service period is complete. The fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period.

- 27 -

Fair Value of Financial Instruments

Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10") requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed.

The Company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures ("ASC 820-10") and Accounting Standards Codification subtopic 825-10, Financial Instruments ("ASC 825-10"), which permits entities to choose to measure many financial instruments and certain other items at fair value.

Derivative Financial Instruments

The Company does not use derivative instruments to hedge exposures to cash flow, market, or foreign currency risks. The Company evaluates all of it financial instruments, including stock purchase warrants, to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported as charges or credits to income.

For option-based simple derivative financial instruments, the Company uses the Black-Scholes option-pricing model to value the derivative instruments at inception and subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period.

Beneficial Conversion Feature

For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount.

When the Company records a BCF, the relative fair value of the BCF is recorded as a debt discount against the face amount of the respective debt instrument (offset to additional paid in capital) and amortized to interest expense over the life of the debt.

Advertising, Marketing and Public Relations

The Company follows the policy of charging the costs of advertising, marketing, and public relations to expense as incurred.

Research and development costs

The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development ("ASC 730-10"). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $0 and $0 for the years ended March 31, 2015 and 2014, respectively.

Income Taxes

The Company follows Accounting Standards Codification subtopic 740-10, Income Taxes ("ASC 740-10") for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability during each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods.

Deferred taxes are classified as current or non-current, depending on the classification of assets and liabilities to which they relate. Deferred taxes arising from temporary differences that are not related to an asset or liability are classified as current or non-current depending on the periods in which the temporary differences are expected to reverse and are considered immaterial.

- 28 -

Net Income (loss) Per Common Share

The Company computes earnings (loss) per share under Accounting Standards Codification subtopic 260-10, Earnings Per Share ("ASC 260-10"). Net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share, if presented, would include the dilution that would occur upon the exercise or conversion of all potentially dilutive securities into common stock using the "treasury stock" and/or "if converted" methods as applicable.

Recent Accounting Pronouncements:

In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" (Topic 606). This ASU provides guidance for revenue recognition and affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets and supersedes the revenue recognition requirements in Topic 605, "Revenue Recognition," and most industry specific guidance. The standard's core principle is the recognition of revenue when a company transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In doing so, companies will need to use more judgment and make more estimates than under the current guidance. These may include identifying performance obligations in the contract, estimating the amount of variable consideration to include in the transaction price and allocating the transaction price to each separate performance obligation. In August 2015, the FASB issued ASU 2015-14, "Revenue from Contracts with Customers" (Topic 606): Deferral of the Effective Date, which deferred the effective date of ASU 2014-09 to fiscal years beginning after December 15, 2017, including interim reporting periods within that reporting period. Early adoption is permitted for fiscal years beginning after December 15, 2016. The Company is currently evaluating the method and impact the adoption of ASU 2014-09 will have on the Company's consolidated financial statements and disclosures.

In August 2014, FASB issued ASU 2014-15, "Presentation of Financial Statements Going Concern (Subtopic 205-40) – Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". Currently, there is no guidance in U.S. GAAP about management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern or to provide related footnote disclosures. The amendments in this ASU provide that guidance. In doing so, the amendments are intended to reduce diversity in the timing and content of footnote disclosures. The amendments require management to assess an entity's ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management's plans, (4) require certain disclosures when substantial doubt is alleviated as a result of consideration of management's plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for public and nonpublic entities for annual periods ending after December 15, 2016. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2014-15 on the Company's financial statements.

There were various other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company's financial position, results of operations or cash flows.

PLAN OF OPERATIONS

As more fully described in "LIQUIDITY AND CAPITAL RESOURCES", we had $ 3,714 in cash at March 31, 2015, and 60,047 respectively, remaining on the lines of credit from Mr. Talari with which to satisfy our future cash requirements. Our management believes that the credit lines will support only limited activities for the next twelve months. We are attempting to secure other sources of financing to develop our business plan, and to implement our sales and marketing plan. We have no assurance we will be able to obtain additional funding to sustain even limited operations beyond twelve months based on the available lines of credit with Mr. Talari and FutureTech. If we do not obtain additional funding, we may need to cease operations until we do so and, in that event, may consider a sale of our technology. Our plan of operations set forth below depends entirely upon obtaining additional funding.

- 29 -

We do not have any ongoing discussions, arrangements, understandings, commitments or agreements for additional funding. We will consider equity funding, either or both of a private sale or a registered public offering of our common stock; however, it seems unlikely that we can obtain an underwriter. We will consider a joint venture in which the joint venture partner provides funding to the enterprise. We will consider debt financing, both unsecured and secured by a pledge of our technology. As noted above, we may be forced to cease operations without additional funding, after our limited cash and line of credit with Mr. Talari are exhausted.

LIQUIDITY AND CAPITAL RESOURCES

For the year ended March 31, 2015, the Company incurred a net loss of $1,405,156. As of March 31, 2015, the Company had a working capital deficit of $800,885 and $2,330 in cash with which to satisfy any future cash requirements. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company depends upon capital derived from future financing activities such as loans from its officers and directors, subsequent offerings of its common stock or debt financing in order to operate and grow the business either directly or through its subsidiary. There can be no assurance that the Company will be successful in raising such capital. The key factors that are not in the Company's control and that may have a direct bearing on operating results. These factors include, but are not limited to, acceptance of the Company's business plan, the ability to raise capital in the future, the ability to expand its customer base, and the ability to hire key employees to grow the business. There may be other risks and circumstances that management may be unable to predict.

We had no other contractual obligation or material commercial commitments for capital expenditures.

Off-Balance Sheet Arrangements

We do not participate in transactions that generate relationships with unconsolidated entities or financial partnerships, such as special purpose entities or variable interest entities, which have been established for the purpose of facilitating off-balance sheet arrangements or other limited purposes.

Item 7A. Quantitative and Qualitative Disclosures About Market Risk.

Not Required.

Item 8. Financial statements and supplementary data

Financial Statements of FutureWorld Corp. as of and for the years ended March 31, 2015 and 2014.

- 30 -

CONTENTS

	Page

Report of Independent Registered Public Accounting Firm	F-2

Consolidated Balance Sheets as of March 31, 2015 and 2014	F-3

Consolidated Statements of Operations for the Years Ended March 31, 2015 and 2014	F-4

Consolidated Statements of Cash Flows for the Years Ended March 31, 2015 and 2014	F-5

Consolidated Statement of Changes in Stockholders' Equity (Deficit) for the Years ended March 31, 2015 and 2014	F-6

Notes to Consolidated Financial Statements	F-7

F-1

Report of Independent Registered Public Accounting Firm

The Board of Directors and Stockholders

FutureWorld Corp. and subsidiaries

Saint Petersburg, Florida

We have audited the accompanying consolidated balance sheet of FutureWorld Corp. and subsidiaries (the "Company"), as of March 31, 2015 and the related consolidated statements of operations, stockholders' equity (deficit), and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit.

We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company's internal control over financial reporting. Accordingly, we express no such opinion. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the consolidated financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of FutureWorld Corp. and its subsidiaries as of March 31, 2015 and the results of their operations and cash flows for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. As discussed in Note 3 to the financial statements, the Company requires a substantial amount of additional financing in order to operate and grow its business either directly or through its subsidiaries, which raises substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 3. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

/s/ Turner, Stone & Company, L.L.P.

Certified Public Accountants

Dallas, Texas

May 31, 2016

F-2

FUTUREWORLD CORP. Consolidated Balance Sheets
	As of March 31,
	2015			2014
Current Assets
Cash in Banks	$	2,330		$	2,000
Inventory		76,591
Accounts Receivable Trade		68,033			-
Accounts Receivable Related Party		86,173
Prepaid expenses		100			-
Total Current Assets		233,227			2,000

Property and Equipment
Office Furniture & Equipment (Net)		3,877			-
					-
Total Property and Equipment, Net of Depreciation		3,877			-

Other Assets					-
Intangible Assets Other		1,697			-
Intangible Assets		92,830			-
Security Deposits		2,205			-
Total Other Assets		96,732			-

Total Assets	$	333,836		$	2,000

LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)

Current Liabilities
Accounts Payable	$	30,400		$	6,350
Accrued Expenses		916,366			1,089,530
Notes Payable		447,762			-
Amortization-Notes payable		(365,209	)		-
Total Current Liabilities		1,029,319			1,095,880

Long Term Liabilities
Loans & notes payable - Related Parties		129,247			277,338
Total Long Term Liabilities		129,247			277,338

Total Liabilities		1,158,566			1,373,218
Commitments & Contingencies (Note 9)
Stockholders' Equity (Deficit)
Preferred stock, $.0001 par value, 100,000,000 shares authorized, 8,000,000 and 0 shares issued and outstanding		800			-
Common stock, $.0001 par value, 1,900,000,000 shares authorized,
731,525,768 and 446,373,966 shares issued and outstanding		73,153			44,637
Additional Paid-in Capital		6,713,997			4,647,567
Retained deficit accumulated		(7,612,879	)		(6,063,422	)

Total Stockholders' Equity (Deficit)		(824,930	)		(1,371,218	)

Total Liabilities & Stockholders' Equity (Deficit)	$	333,836		$	2,000

The accompanying notes are an integral part of this financial statement.

F-3

FUTUREWORLD CORP.

Consolidated Statements of Operations



	For the Years Ended March 31,
	2015			2014
Operating Revenues
Income from Product Sales	$	90,014		$	-
Cost of Goods Sold		(48,695	)
Total Operating Revenue		41,319			-

Operating Expenses
Salaries and Benefits		431,206			129,338
Professional Fees		349,908			0
Other Administrative Expenses		316,324			12,570
Total Operating Expenses		(1,097,438	)		141,908

Loss from Operations		(1,056,119	)		(141,908	)


Other Income and (Expenses)

Interest expense		(493,338	)		(14,411	)
Total Other Income and (Expenses)		(493,338	)		(14,411	)

Net Loss For the Period	$	(1,549,457	)	$	(156,319	)

Average Number of Shares Outstanding
Basic		478,562,219			429,173,367

Net Loss Per Common Share
Basic	$	(0.00	)	$	(0.00	)

The accompanying notes are an integral part of this financial statement.

F-4

FUTUREWORLD CORP.

Consolidated Statement of Changes in Stockholders Equity (Deficit)

														Total
	Preferred Stock				Common Stock				Paid in		Accumulated			Stockholders'
	Shares		Amount		Shares		Amount		Capital		Deficit			Equity (Deficit)
Balance as of March 31, 2013			$			416,373,966	$	41,637	$	4,620,567	$	(5,907,103	)	$	(1,244,899	)
Accrued dividend on preferred stock							$	-						$	-
Conversion of dividend into common stock							$	-						$	-
Exercise of options							$	-						$	-
Intrinsic value of beneficial conversion feature							$	-						$	-
Common stock issued for debt						30,000,000	$	3,000	$	27,000				$	30,000
Common stock issued for services							$	-						$	-
Issuance of common stock							$	-						$	-
Options issued for services							$	-						$	-
Warrants issued for services							$	-						$	-
Imputed interest							$	-						$	-
Net loss for 12 months ended December 31, 2014											$	(156,319	)	$	(156,319	)
Balance as of March 31, 2014			$			446,373,966	$	44,637	$	4,647,567	$	(6,063,422	)	$	(1,371,218	)

Common stock issued Medtest (Note 6)						5,000,000	$	500	$	99,500				$	100,000
Common stock issued upon exercise of warrants for cash							$	-						$	-
Common shares issued upon cashless exercise of warrants							$	-						$	-
Common stock issued for services						4,321,795	$	432	$	117,068				$	117,500
Stock based compensation related to stock options							$	-						$	-
Common stock to be issued from exercise of options							$	-						$	-
Fair value of warrants issued for services							$	-						$	-
Common stock issued upon conversion of debentures						275,830,007	$	27,583	$	1,350,862				$	1,378,445
Preferred Stock Issuance to Talari for Conversion		8,000,000	$	800			$	-	$	499,000				$	499,800
Net loss for 12 months ended December 31, 2015											$	(1,549,457	)	$	(1,549,457	)
Balance as of March 31, 2015		8,000,000	$	800		731,525,768	$	731,526	$	6,713,997	$	(7,612,879	)	$	(824,930	)

The accompanying notes are an integral part of this financial statement

F-5

FUTUREWORLD CORP.

Consolidated Statements of Cash Flows


	For the Years Ended March 31,
	2015			2014
C ash Flows From Operating Activities

Net Loss	$	(1,549,457	)	$	(156,319	)
Adjustments to reconcile net loss from operations to net cash used in operating activities:

Depreciation & amortization		7,298			-
Amortization for Debt Discount		365,209
Changes in working capital components:
Accounts Receivable		(154,206	)
Inventory Purchases		(76,591	)
Pre-paid & Other		(2,305	)
Purchase Equipment		(4,005	)
Accounts payable		24,050			6,350
Accrued salaries		471,998			129,338
Other accrued expenses		137,433			14,411
Net Cash Used by Operations		(780,576	)		(6,220	)

Cash Flows from Investing Activities					-
Increase in Intangible Properties		(1,697	)		-
Net Cash used in Investing Activities		(1,697	)		-

Cash Flows from Financing Activities
Proceeds from Issuance of Notes Payable		903,630			0
Related Party Loans		(121,027	)		8,220
Net Cash Provided by Financing Activities		782,603			8,220

Net Increase (Decrease) in Cash		330			2,000
Cash Balance, Beginning of the Year		2,000

Cash Balance, End of the Year	$	2,330		$	2,000

Supplemental Disclosures on Interest and Income Taxes Paid:
Interest paid for the year end	$	493,338		$	-
Income taxes paid for the year end	$	0		$	-
Supplemental Schedule of Non-Cash Investing and Financing Activities:
Conversion of debt into common stock	$	609,238		$	30,000
Debt obligation expenses financed		153,370			-

The accompanying notes are an integral part of this financial statement.

F-6

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

1. Basis of Presentation, Business and Summary of Significant Accounting Policies

(a) Basis of Presentation

Our financial statements may not be comparable to companies that comply with public company effective dates. Due to our election not to opt out of the extended transition period that allows us to delay the adoption of new or revised accounting standards that have different effective dates for public and private companies until those standards apply to private companies. All amounts referenced in these Financial Statements and this Report are in US Dollars unless otherwise stated.

(b) Nature of the Business, and History of the Company and its Subsidiaries

The nature of the business and the history of the Company and its subsidiaries are as follows:

Nature of the Business

FutureWorld Corp, 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.

Our current Subsidiaries include; HempTech Corp, CB Scientific, URVape, Bioceutical Sciences, and FutureLand Corp.

2. Summary of Significant Accounting Policies

Basis of Presentation

The financial statements include the accounts of FutureWorld Corp under the accrual basis of accounting.

F-7

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

Management's Use of Estimates

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 3 – Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities.

All items required to be recorded or measured on a recurring basis are based upon level 3 inputs.

Deferred Taxes

F-8

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

Cash and Cash Equivalents

For purposes of the Statement of Cash Flows, the Company considers highly liquid investments with an original maturity of three months or less to be cash equivalents.

Accounts Receivable and Allowance for Doubtful Accounts

As of March 31, 2015, the Company has $68,033 trade receivable and $86,123 in related party receivable.

Property and Equipment

Revenue Recognition

	(i)		persuasive evidence of an arrangement exists,
	(ii)		the services have been rendered and all required milestones achieved,
	(iii)		the sales price is fixed or determinable, and
	(iv)		Collectability is reasonably assured.

Recent Accounting Pronouncements

Since the year ended March 31, 2015 and through May 31, 2016, there were several new accounting pronouncements issued by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company's financial statements.

F-9

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

Convertible Debentures

Stock-Based Compensation

Fair Value of Financial Instruments

Beneficial Conversion Feature

For conventional convertible debt where the rate of conversion is below market value, the Company records a "beneficial conversion feature" ("BCF") and related debt discount.

Advertising, Marketing and Public Relations

The Company follows the policy of charging the costs of advertising, marketing, and public relations to expense as incurred.

F-10

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

Research and development costs

N/A

Income Taxes

Net Income (loss) Per Common Share

Preferred Shares Potential Dilution Factor

Company's CEO, Mr. Talari, Holds 8,000,000 shares of Preferred Series A stock as of March 31, 2015, with conversion ratio of 1 Preferred to 200 Common stock. If all Preferred Series A stocks are converted, there will be a substantial increase in the outstanding common stock hence significant dilution to the common stock holders.

F-11

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

3. Going Concern

For the year ended March 31, 2015, the Company incurred a net loss of $1,549,457 and a cumulative net loss since inception of $7,612,879. As of March 31, 2015, the Company had a working capital deficit of $796,092 and $2,330 in cash with which to satisfy any future cash requirements. These conditions raise substantial doubt about the Company's ability to continue as a going concern. The Company depends upon capital derived from future financing activities such as loans from its officers and directors, subsequent offerings of its common stock or debt financing in order to operate and grow the business either directly or through its subsidiary. There can be no assurance that the Company will be successful in raising such capital. The key factors that are not in the Company's control and that may have a direct bearing on operating results. These factors include, but are not limited to, acceptance of the Company's business plan, the ability to raise capital in the future, the ability to expand its customer base, and the ability to hire key employees to grow the business. There may be other risks and circumstances that management may be unable to predict.

4. Property and Equipment

Property and equipment as of March 31, 2015 and 2014 consists of the following:

	2015		2014

Computer equipment	$	4005	$	-
Furniture and fixtures		0		-
				-
Accumulated depreciation		128		-
Net	$	3,877	$	-

5. Related Parties Transactions

Mr. Talari has advanced funds to the Company at various times. On April 1, 2010 the Company issued a promissory note with an initial balance of $306,319 bearing interest at 5%. This note allows Mr. Talari to advance additional funds to the Company as needed. At March 31, 2015 and 2014, the balance due to Mr. Talari on this Promissory Note is $186,160 and $277,338 respectively, and the accrued interest thereon at March 31, 2015 and 2014 is $59,459 and $59,459 respectively.

On 11/19/2014, Company issued 10,000,000 shares of Preferred Series A stock to Talari Industries LLC for a debt cancellation of $500,000.

On 4/15/2015, the Company issued Talari Industries LLC 2,000,000 shares of shares of Preferred Series A stock.

6. Accrued Expenses

Accrued expenses at March 31, 2015 and 2014 were as follows:

	2015		2014
Accrued salaries	$	764,522	$	1,030,071

Accrued interest		151,844		59,459

	$	916,366	$	1,089,530

F-12

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

7. Related Parties Disclosures

Office Space

During the Company's initial stage, it has limited need for use of office space or equipment. The Company operates out of office space provided by the principals at an allocated cost to the Company in Saint Petersburg, Florida. Rent totaled $ 20,294 for the year ending 3-31-2015.

8. Debt Disclosure

From time to time, the Company raises operational funds through debt instruments such as convertible debentures. For shares that would be issued if contingently convertible securities were converted, the shares are included in the calculation of diluted EPS, based on ASC 505-10-50-9.

9. Commitments & Contingencies

On or prior to 3/31/2015, the Company had employment agreements, employment offers with certain employees and non-employees of the company and they are as follows;

Kevin Defant - Offer Letter – Temporary Term

Product Development Manager

Salary: In consideration that your initial employment will be of a Part time nature based on the annual gross starting salary of $48,000.00. If employee chooses to work part time, the salary will be adjusted as such. The salary will be paid as follows:

Compensation of $4,000 per month deferred until such time as we obtain funding or adequate revenue or it may be paid in part with available cash. All unpaid salary, if cannot be paid by cash, maybe paid in common stock of the company with the employee's request.

Salary will be adjusted to up to $50,000 annually based on milestones set by the CEO and board of directors and met by you at future date decided by the Board.

Performance Bonuses (Grants):

You are eligible to receive a grant of 200,000 shares of common stock in FutureWorld Energy. Annually, for two years, on the anniversary of your start date, 100,000 of these restricted shares will be eligible to vest.

You will also be eligible to receive an option of 1,500,000 shares of common stock in FutureWorld Energy at $0.02 per share. Annually, for three years, on the anniversary of your start date, 500,000 of these restricted shares will be eligible to vest by achievement of your defined goals and objectives.

None of the performance grants or options were issued since Mr. Defant started working for HempTech post 3/31/2015.

F-13

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

Karin Rohret – Employment agreement – Signed April 1, 2013 – Four years' term

Book Keeper/Accountant

Compensation.

4.1 Base Salary. As compensation for Employee's services rendered hereunder, the Company shall pay to Employee a base salary at an annual rate equal to Twenty-Three Thousand Five Hundred Dollars ($23,500) or One Thousand Nine Hundred Fifty ($1,950) per month (the "Base Salary"). The Base Salary shall thereafter be increased annually at the greater of (i) ten percent (10%) or (ii) such other increase as may be approved by the Board of Directors. The Base Salary shall be payable to Employee on a monthly basis, when the Company is adequately funded, in accordance with the Company's standard policies for management personnel. Prior to funding, employee's salary shall accrue and will be paid with adequate funding. Until such time as Future World Energy, Inc. can hire Karen Rohret to come on board full-time as an employee to Future World Energy, this salary shall be .1875% of the yearly sum (30 hrs per month). Until modification of this document to begin full time employment Karen Rohret' salary will be Eight Hundred Fifty-Nine Dollars and 37 cents ($859.37) per month.

4.2 Incentive Compensation. With respect to each calendar year, or portion thereof, beginning with calendar year 2014, Employee shall be eligible to receive incentive compensation or a bonus, payable solely in the discretion of the Board of Directors.

None of the performance grants or options were issued by 3/31/2015.

Terry Gardner – Employment agreement – Signed July 1, 2014 – Four Years term

VP of Engineering and Professional Services

Base salary as compensation for the services to be rendered by Employee to the Company as provided in Section 1 and subject to the terms and conditions of Section 2, the Company agrees to pay to Employee $10,000 per month. However, until such time as the company is fully funded or the company wins a contract large enough to self-sustain, the Employee will be paid $3,000 per month with the remaining amount accrued on a monthly basis. Employee's salary will be reviewed on an annual basis at the twelve (12) month anniversary of this Agreement.

a. Should the situation arise where the Company is unable to pay any portion of the cash compensation, the Employee shall have the right to request payment of unpaid salaries or a portion thereof in Shares of Company stock ("Shares") of the Company (unless there is a change in SEC rules which modifies or alters the Company's ability to issue shares for compensation).

b. The Employee agrees that the settlement date for any compensation paid in shares shall be the date he requests issuance of Shares in lieu of cash compensation. The employee shall have sole discretion as to the timing to receive restricted Shares, for a portion of or the full compensation amount due.

c. Should a situation arise, where there is no market for shares in HempTech whatsoever and said shares are unable to be converted to cash, the Company shall replace these unmarketable shares with cash compensation equal to the value intended.

F-14

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

3.2 Share Compensation.

a. Employee, as part of the core team is entitled to receive a grant of 5% of the Company's issued and outstanding common shares, par value $0.001. The grants shall be issued or trued up as follows; at the end of the first year Employee shall be entitled to a total of 2.5% ownership of the Company's outstanding common stock, at the end of year 2 Employee shall be entitled to a total of 5% ownership of the Company's outstanding common stock. Upon change of Control, Merger or Acquisition, the ownership percentage shall accelerate to the 5% ownership level.

None of the performance grants or options were issued since Mr. Gardner started working for HempTech post 3/31/2015.

Sam Talari – Employment Agreement – Signed 1st day of January, 2012

CEO

Compensation.

4.1 Base Salary. As compensation for Employee's services rendered hereunder, the Company shall pay to Employee a base salary at an annual rate equal to One Hundred and Two Thousand Dollars ($102,000) or Eight Thousand Five Hundred Dollars ($8,500) per month (the "Base Salary") when Company attains adequate funding. Henceforth until adequate funding, with company's ability, the Employee will be given a draw of about Four Thousand Dollars ($4,000) per month for services rendered against Employee's salary. The Base Salary shall thereafter be increased annually at the greater of (i) five percent (5%) or (ii) such other increase as may be approved by the Board of Directors. The Base Salary shall be payable to Employee on a monthly basis, in accordance with the Company's standard policies for management personnel.

On 4/1/2015, The Compensation was amended for the Company to pay to Employee a base salary at an annual rate equal to One Hundred and Eighty Thousand Dollars ($180,000) or Fifteen Thousand Dollars ($15,000) per month (the "Base Salary").

CB Scientific cancelled agreements with certain employees terminated as of March 31, 2015. There are no contingencies or liabilities in effect post termination;

Bill Short

On April 24, 2014, the Company entered into a three-year Employment Agreement with Mr. Short, CB Scientific's Acting Chief Operations Officer. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $3,000 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees

Derek Lebahn

On May 15, 2014, the Company entered into a three-year Employment Agreement with Mr. Lebahn, the Company's Acting President of the CB Scientific Division. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $2,000 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees.

Charles Steinberg

On May 15, 2014, the Company entered into a three-year Employment Agreement with Mr. Steinberg, the Company's Acting Vice President of the CB Scientific Division. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $2,000 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees.

F-15

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

Joseph Kelly

On June 18, 2014, the Company entered into a three-year Employment Agreement with Mr. Kelly, the Company's Acting Product Development Executive for the CB Scientific Division. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $1,600 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees.

Andrew Marlatt

On June 18, 2014, the Company entered into a three-year Employment Agreement with Mr. Marlatt, the Company's Acting Product Development Executive for the CB Scientific Division. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $2,000 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees.

Richard Buck

On June 18, 2014, the Company entered into a three-year Employment Agreement with Mr. Buck, the Company's Acting Product Development Executive for the CB Scientific Division. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $2,400 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees.

11. Change in Management

NONE

12. Income Taxes

Income tax benefit resulting from applying statutory rates in jurisdictions in which the Company is taxed (Federal and State of Florida) differs from the income tax provision (benefit) in our financial statements. The following table reflects the reconciliation for the years ended March 31, 2015 and 2014:

	2015	2014

Federal at federal statutory rate	(34.00)%	(34.00)%
State, net of federal deduction	(3.30)%	(3.30)%
Change in valuation allowance	37.3%	37.3%
Effective tax rate	0.00%	0.00%

There is no current or deferred income tax expense or benefit allocated to continuing operations for the year ended March 31, 2015, or for the period July 23, 2002 (date of inception) through March 31, 2015. As of this filing, the company has not filed tax returns for the year end March 31, 2015 and 2014.

The Company has not recognized an income tax benefit for its operating losses generated through March 31, 2015 based on uncertainties concerning the Company's ability to generate taxable income in future periods. The tax benefit is offset by a valuation allowance established against deferred tax assets arising from operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not.

Deferred income taxes are reported using the liability method. Deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. Current year and accumulated deferred tax benefit at the effective Federal income tax rate of 34% is $20,367,959 (in addition to the pre-acquisition annual limitation carry-forward discussed in the following paragraph), and a valuation allowance has been set up for the full amount because of the unlikelihood that the accumulated deferred tax benefit will be realized in the future.

F-16

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

For income tax purposes the Company has available a net operating loss carry-forward of $7,614,142 from inception to March 31, 2015, which will expire year by year, is available to offset future federal and state taxable income and that expire in various periods through 2035 for federal tax purposes and 2020 for state tax purposes. No benefit has been recorded for the loss carryforwards, and utilization in future years may be limited under Sections 382 and 383 of the Internal Revenue Code if significant ownership changes have occurred or from future tax legislation changes.

13. Equity

The Company is authorized to issue 100,000,000 shares of preferred stock. The Company has the right to designate different series. As of March 31, 2015, we have designated 20,000,000 shares of Series A Preferred. The Series A preferred stock is convertible to common stock at 1 to 200 ratio and have 200 voting right per share.

The Company is authorized to issue 1,900,000,000 shares of common stock. All common stock has one voting right per share. At March 31, 2015 there were 731,525,768 shares outstanding.

Incentive Stock Option Plan

On March 23, 2014, the Company adopted an amended Incentive Stock Option Plan ("Option Plan") for the benefit of its key employees, including officers and employee directors, consultants and affiliates. The Option Plan is intended to provide those persons who have substantial responsibility for the management and growth of the Company with additional incentives and an opportunity to obtain or increase their proprietary interest in the Company, encouraging them to continue in employment. The Company authorized 4,000,000 shares to be set aside under the Option Plan. As of March 31, 2015, the Company has not issued any shares under this plan.

14. Subsequent Events

On June 03, 2015, FutureWorld Corp. ("FutureWorld") entered into a preliminary agreement for a proposed JV (the "Agreement") with American Green in the distribution of its ZaZZZ robotic dispensaries nationwide under the brand name CaNNaBoX. The partnership will be utilizing both companies' technical background and rapidly expanding relationships in the cannabis market. CaNNaBoX robotic dispensaries are secure delivery and control systems for use in licensed cannabis dispensaries and not "vending machines". Their specific design benefits public safety, governance, dispensaries, and consumers. The Company intends to work with the American Green to lay out specific marketing partnerships, setting up regional, national and international strategies designed to achieve to 1500 unit deployment. The Top Level Design for the Product and its target platform will be discussed in length in the actual JV Agreement. The Parties agree to make every effort to complete the Product according to the JV Agreement.

From May 19, 2015 to May 27, 2016, FutureWorld ("we", "us" "our") issued an aggregate of $366,000 of convertible debt to five separate investors in private transactions (described below) exempt from registration under the Securities Act of 1933 (the "Securities Act") in reliance on exemptions provided by Regulation D and Section 4(a)(2) of the Securities Act.

We issued a $50,000 convertible promissory note, which note is due and payable 9 months from the issue date along with 8% interest, per annum. In lieu of cash repayment, the note is convertible into shares of our common stock, at the option of the note holder, based on the market price of our common stock.

We issued an $81,000 convertible debenture, which debenture is due and payable 12 months from the issue date along with 8% interest, per annum. In lieu of cash repayment, the debenture is convertible into shares of our common stock, at the option of the debenture holder, based on the market price of our common stock.

We issued a $60,000 convertible debenture, which debenture is due and payable 12 months from the issue date along with 8% interest, per annum. In lieu of cash repayment, the debenture is convertible into shares of our common stock, at the option of the debenture holder, based on the market price of our common stock.

We issued an $115,000 convertible debenture, which debenture is due and payable 12 months from the issue date along with 8% interest, per annum. In lieu of cash repayment, the debenture is convertible into shares of our common stock, at the option of the debenture holder, based on the market price of our common stock.

F-17

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

We intend to use the net proceeds (after payment of expenses and commissions) from the above transactions for general corporate purposes. The above descriptions are qualified in their entirety by actual terms of the definitive agreements evidencing the above transactions.

On July 1^st, we signed a teaming agreement with SecondSun to provide SmartSense, SmartNergy and CaNNaLyTiX for a 52,000 sqf grow in California.

The company has also agreed to resell Surna's products non-exclusively. More agreement may come to in the future.

Purchase and Sale Agreement with Net:X America Inc.

On December 10, 2015, FutureWorld Corp, a Delaware Corporation ("FWDG"), entered into a Purchase and Sale Agreement (the "PSA") with Net:X America Inc., an Oregon Corporation, located in Portland, Oregon (hereinafter referred to as "NXAM" or "Buyer"), to sell all of the assets of CB Scientific, Inc. (hereinafter referred to as "CB" or "SELLER"), which is a private Colorado Corporation, for stock. On February 10, 2016, FutureWorld Corp closed the CB Scientific Sale transaction. The Sale will be effective as of February 17, 2016 pending the completion of restructuring of NXAM due on February 16, 2016.

Consideration for the sale and purchase of the Sellers Assets shall be in the form of financing commitment, shares of the Corporation as well as other items as set forth herein and as follows (collectively the "Consideration"):

A purchase price paid for by the issuance of 57,105,263 shares of Common stock, par value $0.001, on the Closing Date (after recapitalization on February 17, 2016) to CB Scientific shareholders. All such common shares shall be received of the NXAM common shares under the requisite restriction of Rule 144 of the Securities Act.

NXAM shall also issue to CB One share of Preferred Series A2 of NXAM with a thirty percent (30%) dividend of the yearly gross cash flow of the operations of CB. Such share shall not be sold or delivered to any party except for CB as a corporation. The rights to the dividend of revenue shall be designated by CB within thirty days of the execution of this agreement. Future revenue distribution shall be subject to separate agreement. CB will also receive thirty percent (30%) dividend of the yearly gross cash flow of any other operations, projects (Labs, schools, etc.) delivered by CB to the Company.

CB shall with execution of this agreement be entitled to 25,000,000 shares of the common stock warrant of NXAM with the price for such warrant exercise being based on a 50% discount to the closing price of the stock on the date of execution of this agreement (post reverse capitalization). Such warrants shall be exercisable for a period of two years from the date of this agreement.

The Company has agreed, subject to certain exceptions with respect to unsolicited proposals, not to initiate, facilitate, solicit, encourage (including, without limitation, by way of furnishing non-public information) or accept any inquiries regarding, or the making of any proposal or offer that constitutes, or could reasonably be expected to result in, an "acquisition proposal" or engage in, continue or otherwise participate in any discussions, communications or negotiations regarding an acquisition proposal. The Company also has agreed that its Board of Directors shall not approve or recommend, or publicly propose to approve or recommend, to the Company's shareholders any acquisition proposal or approve, authorize or permit or allow the Company to enter into any agreement, arrangement or understanding with respect to any acquisition proposal or enter into any agreement, arrangement or understanding in principle requiring the Company to abandon, terminate, or fail to consummate the transactions contemplated by, or breach any of its obligations under, the Asset Purchase Agreement.

The Asset Purchase Agreement also contains representations, warranties and indemnification obligations of the parties customary for transactions similar to those contemplated by the Asset Purchase Agreement. Such representations and warranties are made solely for purposes of the Asset Purchase Agreement and, in some cases, may be subject to qualifications and limitations agreed to by the parties in connection with the negotiated terms of the Asset Purchase Agreement and may have been qualified by disclosures that were made in connection with the parties' entry into the Asset Purchase Agreement.

F-18

FUTUREWORLD CORP.

Notes to Consolidated Financial Statements

For the Years Ended March 31, 2015 and 2014

In addition, certain representations and warranties set forth in the Asset Purchase Agreement may have been used for purposes of risk-allocation between CB and NXAM rather than establishing matters of fact. The representations and warranties contained in the Asset Purchase Agreement were made solely for the benefit of the parties thereto. Persons not party to the Asset Purchase Agreement, including, without limitation, the Company's shareholders and other investors, should not rely on the representations and warranties contained in the Asset Purchase Agreement, or any descriptions thereof, including those contained in this Current Report on Form 8-K (this "Report"), as characterizations of the actual facts or conditions applicable to CB product lines or any of the Company's other product lines or subsidiaries.

On 11/19/2014, Company issued 10,000,000 shares of Preferred Series A stock to Talari Industries LLC for a debt cancellation of $500,000.

On 4/15/2015, the Company issued Talari Industries LLC 2,000,000 shares of shares of Preferred Series A stock.

Purchase and Exchange Agreement with Building Turbines, Inc

On February 26, 2016, Shareholder (hereafter referred to as "Selling Holder" or by name) of Building Turbines, Inc. which is a publicly held Nevada Company (BLDW), entered into a purchase and exchange agreement with FutureWorld Corp. (hereafter referred to as "FWDG") a Delaware Corporation and its partially owned subsidiary HempTech Corp., (hereafter referred to as "HTC"), a Delaware Corporation, to deliver to FutureWorld and HempTech Shareholders, the certain share holdings of Building Turbines, Inc., as an exchange for such consideration as set forth in the agreement. In effect, post transaction, Building Turbines, Inc., will become HempTech Corp through change in control.

On March 11, 2016, FutureWorld Corp closed the HempTech Corp-Building Turbines transaction. The transaction will be fully effective with the completion of restructuring of BLDW due when approved by FINRA.

Consideration for the purchase and exchange agreement is as follows (collectively the "Consideration"):

A purchase price paid for by the issuance of 62,500,950 shares of Common stock, par value $0.001, on the Closing Date (after recapitalization) to HempTech Corp shareholders. All such common shares shall be received of the BLDW common shares under the requisite restriction of Rule 144 of the Securities Act.

In return for those shares of BLDW as designated, the BLDW selling holder, John Graham, shall receive, post-reverse division, an amount of common shares of the Corporation which will be equal to nine and nine tenths percent (9.9%) of the total outstanding common shares of the Corporation ("Exchanged Shares") after such reverse division occurs and the initial post-reverse issuance occurs. The amount of shares to be initially issued shall for such 9.9% of the total outstanding common shares after the reverse division shall be 6,187,594 common shares.

F-19

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

(a) Previous independent registered public accounting firm

The Registrant reports in this current report on Form 8-K a change in certifying accountants. Effective June 19, 2015, the Registrant's certifying accountant, DKM Certified Public Accountants ("DKM") resigned as the Registrant's independent registered public accounting firm.

(a)(1) Previous Independent Accountant

(i) The Registrant reports a change in certifying accountants, which involved DKM Certified Public Accountants ("DKM") resigning as the Registrant's independent registered public accounting firm effective June 19, 2015.

(ii) DKM Certified Public Accountants ("DKM") issued a report on the Registrant's consolidated financial statements for the fiscal year ended March 31, 2014. The report did not contain an adverse opinion or disclaimer of opinion, and was not modified as to uncertainty, audit scope, or accounting principles. Except that it contained an explanatory paragraph expressing concern over the company's ability to continue as a going concern.

(iii) The decision to change accountants was recommended and approved by the board of directors of the Registrant on June 29, 2015.

(iv) In connection with the audit of the Registrant's consolidated financial statements for the year ended March 31, 2014 and any subsequent interim period through the date of resignation, there were no disagreements, resolved or not, with DKM Certified Public Accountants ("DKM") on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure which disagreement(s), if not resolved to the satisfaction of DKM Certified Public Accountants ("DKM"), would have caused them to make reference to the subject matter of the disagreement(s) in connection with its reports on the Registrant's consolidated financial statements; and there were no reportable events as defined in Item 304(a)(1)(v) of Regulation S-K.

Item 9A. Controls and Procedures.

Applicable.

As of March 31, 2015 we carried out an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Exchange Act Rule 13a-15. This evaluation was done under the supervision and with the participation of our management, including our President and Chief Financial Officer. Based on this evaluation of our disclosure controls and procedures (as defined in the Exchange Act Rule 13a-15e), our President and Chief Financial Officer have concluded that as of March 31, 2015 such disclosure controls and procedures were not effective.

·	We do not have adequate personnel and other resources to assure that significant and complex transactions are timely analyzed and reviewed.
·	We have limited personnel and financial resources available to plan, develop, and implement disclosure and procedure controls and other procedures that are designed to ensure that information required to be disclosed in our periodic reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Securities and Exchange Commission's rules and forms.
·	Our limited financial resources restrict our employment adequate personnel needed and desirable to separate the various receiving, recording, reviewing and oversight functions for the exercise effective control over financial reporting.
·	Our limited resources restrict our ability to ensure that information required to be disclosed in our periodic reports filed under the Exchange Act is accumulated and communicated to management to allow timely decisions regarding required disclosure.

- 31 -

Management Report on Internal Controls

Our management is responsible for establishing and maintaining adequate internal control over financial reporting for the company. Internal control over financial reporting is a process to provide reasonable assurance regarding the reliability of our financial reporting for external purposes in accordance with accounting principles generally accepted in the United States of America. Internal control over financial reporting includes maintaining records that in reasonable detail accurately and fairly reflect the transactions and dispositions of our assets; provide reasonable assurance that transactions are recorded as necessary for preparation of our financial statements; provide reasonable assurance that receipts and expenditures of company assets are made in accordance with management authorization; and provide reasonable assurance that unauthorized acquisition, use or disposition of company assets that could have a material effect on our financial statements would be prevented or detected on a timely basis. Because of its inherent limitations, internal control over financial reporting is not intended to provide absolute assurance that a misstatement of our financial statements would be prevented or detected. Pursuant to Rule 13a-15d of the Exchange Act, management conducted an evaluation of the effectiveness of our internal control over financial reporting based on the framework in Internal Control - Integrated Framework (1992) and Internal Control Over Financial Reporting Guidance for Smaller Public Companies (2006), issued by the Committee of Sponsoring Organizations of the Treadway Commission.

Based on this evaluation, management concluded that our internal control over financial reporting was not effective as of March 31, 2015.

This annual report does not include an attestation report of the company's registered public accounting firm regarding internal control over financial reporting. Management's report was not subject to attestation by the company's registered public accounting firm pursuant to temporary rules of the Securities and Exchange Commission that permit the company to provide only management's report in this annual report.

Changes in Controls and Procedures

There were no significant changes made in our internal controls over financial reporting during the year ended March 31, 2015 that have materially affected or are reasonably likely to materially affect these controls. Thus, no corrective actions with regard to significant deficiencies or material weaknesses were necessary.

Limitations on the Effectiveness of Internal Control

Our management, including the President, does not expect that our disclosure controls and procedures or our internal control over financial reporting will necessarily prevent all fraud and material errors. An internal control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations on all internal control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, and/or by management override of the control. The design of any system of internal control is also based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions. Over time, controls may become inadequate because of changes in circumstances, and/or the degree of compliance with the policies and procedures may deteriorate. Because of the inherent limitations in a cost-effective internal control system, financial reporting misstatements due to error or fraud may occur and not be detected on a timely basis.

Item 9B. Other Information

Not applicable.

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PART III

Item 10. Directors, Executive Officers and Corporate Governance

The following table identifies our directors and executive officers, their ages, the positions each holds and, if a director, the first year he became a director as of March 30, 2015.

Name	Age	Position(s)	Director since

Saeed (Sam) Talari	49	Chief Executive Officer and Director	2002

Saeed ("Sam") Talari has been one of our directors since 2002. Mr. Talari became our Chairman on June 1, 2008, and our Acting Chief Executive Officer on November 21, 2008. Mr. Talari's employment during the five year period prior to this annual report, and for certain years before that period, is as follows:

●	1994 – 1999 – Mr. Talari ran Compusite Corporation, one of the first Internet solutions providers in the nation to offer large spectrum of value added services to companies seeking greater presence on the Internet. He assisted Compusite to grow from no revenue to a multi-million dollar company.
●	1999 to Present – Mr. Talari founded FutureWorld Corp., (formerly Isys Medical, Inc.) and serves since inception as one of FutureWorld's directors. FutureWorld Corp is a diversified Hemp/Cannabis holding and operating company, owning and seeking disrupted technologies in the Industrial Hemp/Cannabis industry globally.
●	2001 to Present – Mr. Talari founded and manages FutureTech (Talari Industries), a venture capital firm that invests in high technology start up enterprises.
●	2006 to Present – Mr. Talari founded and manages Infrax Systems as it acting CEO and CFO. Infrax Systems is a Smart Grid related hardware and software developer.

Section 16(a) Beneficial Ownership Reporting Compliance.

No person who at any time during the fiscal year, was a director, officer, beneficial owner of more than ten percent of our common stock has furnished to us Forms 3, 4 and 5, and amendments thereto, or filed such reports and amendments with the U.S. Securities and Exchange Commission, during our 2015 or 2014 fiscal year.

Code of Ethics.

On July 1, 2008, we adopted the Code of Ethics governing all employees, officers and directors. During the year ended March 31, 2015, no amendments to or waivers of the provisions of the Code of Ethics were made with respect to any of our directors or executive officers. We will provide a copy of the Code of Ethics to shareholders without charge upon written request to Mr. Sam Talari, Chief Executive Officer, 3637 4^th St. N Saint Petersburg, FL 33704. Our Code of Ethics will be available per demand of any shareholder, and will disclose future amendments to, or waivers from, the Code of Ethics on our website within four business days following the date of such amendment or waiver.

Audit committee.

We do not have an audit committee.

Procedures for stockholders to nominate directors.

We have not adopted any procedures whereby stockholders may nominate persons for election as directors.

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Item 11. Executive Compensation

COMPENSATION DISCUSSION AND ANALYSIS

Overview

The goal of our named executive officer compensation program is the same as our goal for operating the company—to create long-term value for our shareowners. Toward this goal, we have designed and implemented our compensation programs for our named executives to reward them for leadership excellence, to align their interests with those of our shareowners and to encourage them to remain with the company for long and productive careers. Most of our compensation elements simultaneously fulfill one or more of our performance, alignment and retention objectives. These elements consist of salary, bonus, and equity incentive compensation. In deciding on the type and amount of compensation for each executive, we focus on both current pay and the opportunity for future compensation. We combine the compensation elements for each executive in a manner we believe optimizes the executive's contribution to the company.

Compensation Objectives

Performance . Our executives who are identified in the Summary Compensation Table (whom we refer to as our named executives) have held different positions and increased levels of responsibility. The amount of compensation for each named executive reflects his management experience, performance and service. A key element of compensation is equity incentive compensation in the form of our common stock, and participation in our Non statutory Stock Option Plan, although no shares have been granted to date.

We believe that the compensation of our executives should reflect their success in attaining our key objectives. Our key objectives are currently: (i) attracting qualified individuals to enhance our management team, (ii) establishing strategic business relationships, (iii) raising capital, and (iv) develop our marketing plan. The key individual factors for each executive include but are not limited to: (i) the value of their skills and capabilities, (ii) performance of their management responsibilities, (iii) whether that individuals is capable to assuming greater responsibilities, (iv) leadership qualities, (v) tenure and career experience, (vi) current compensation arrangements, (vii) long-term potential to enhance shareholder value, and (viii) contribution as a member to our executive management team.

We allocate compensation between cash compensation and equity based compensation. We provide cash compensation in the form of base salaries to meet competitive salary norms and reward performance on an annual basis, if warranted. Base salary is designed to reward annual achievements and be commensurate with the executive's scope of responsibilities, demonstrated leadership abilities, and management experience and effectiveness. Our other elements of compensation focus on motivating and challenging the executive to achieve superior, longer-term, sustained results. We provide non-cash compensation in the form of equity incentive arrangements to retain and attract key individuals and to reward performance against specific objectives and long-term strategic goals.

Alignment. We seek to align the interests of the named executives with those of our investors by evaluating executive performance on the basis of key financial measurements which we believe closely correlate to long-term shareowner value. A key element of compensation that align the interests of our executives with shareowners is equity incentive compensation, and providing the executives the ability to convert a portion of their compensation into common shares, both of which increases the executive's stake in the Company.

Implementing Our Objectives

Base Compensation. Base compensation amounts for our executive officers are set pursuant to written agreements. When setting base salary, the Board reviews a number of factors, including but not limited to executives of similar position, responsibility, experience, qualifications and performance, which allows us to recruit and retain qualified executives.

Stock Option Grants. The Board of Directors has the authority to select individuals who are to receive options under the Plan and to specify the terms and conditions of each option so granted (incentive or nonqualified), the exercise price (which must be at least equal to the fair market value of the common stock on the date of grant with respect to incentive stock options), the vesting provisions and the option term.

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SUMMARY COMPENSATION TABLE

The following table sets forth the compensation we have paid to (i) our current and former chief executive officers during the last fiscal year, (ii) our two most highly compensated other executive offers who were executive officers at the end of the last fiscal year whose compensation exceeded $100,000 and (iii) our two most highly compensated other executive officers who were not executive officers at the end of the last fiscal year whose compensation exceeded $100,000.

Name and principal position	Year	Salary				Bonus		Stock Award		All other compensation		Total
Saeed (Sam) Talari, CEO	2015	$	180,000	(1	)		-0-		-0-		-0-	$	300,000
Terry Gardner, VP	2015	$	120,000	(1	)		-0-		-0-		-0-	$	120,000
John Verghese, CEO HempTech	2015	$	120,000	(1	)		-0-		-0-		-0-	$	120,000

CURRENT EMPLOYMENT AGREEMENTS

Sam Talari

On January 1, 2012, the Company entered into a three-year Employment Agreement with Mr. Talari, the Company's Acting Chief Executive Officer, and one of the Company's directors. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $8,500 per month, with a 5% increase per annum and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees. On January 1, 2015, the Company increased Mr. Talari's base salary to $25,000 per month based on a new three years employment agreement.

Cameron Cox

On April 15, 2014, the Company entered into a three-year Employment Agreement with Mr. Cox, the Company's Acting Vice President of Business Development. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $3,000 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees.

John Verghese

On January 1, 2015, the Company entered into a three-year employment agreement with John Verghese as the CEO of HempTech Corp. The Agreement provides for (a) a base salary of $10,000 per month, (b) two weeks' vacation within one year of the starting date, and (c) all group insurance plans and other benefit plans and programs made available to the Company's management employees. Additionally Mr. Verghese has been granted 10% option of HempTech common stock at par value.

Terry Gardner

On January 1, 2015, the Company entered into a three-year employment agreement with Terry Gardner as VP of Professional Services. The Agreement provides for (a) a base salary of $10,000 per month, (b) two weeks' vacation within one year of the starting date, and (c) all group insurance plans and other benefit plans and programs made available to the Company's management employees. Additionally Mr. Gardner has been granted 5% option of HempTech common stock at par value.

Karin Rohret

On January 2nd, 2010, the Company entered into an employment agreement with Karin Rohret as part-time Controller. The Agreement provides for (a) a base salary of $1,101.67 per month, (b) a signing bonus of $20,000 by the way of Company's common stock within 30 days of signing the agreement. Additionally Ms. Rohret will be eligible to receive a grant of 600,000 shares of common stock at founder level with a par value of 0.001. Vesting of the grant shall be at the rate of 200,000 shares on each anniversary from the signing of the agreement. The salary was adjusted to $2,950 on October 1 2014 as the position required additional hours.

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Kevin Defant

On April 21, 2014, the Company entered into a three-year Employment Agreement with Mr. Defant, the Company's Acting Tech Director. The Agreement is automatically extended for additional one-year periods without further action from the Company or the executive, unless notice of termination is given by either party within 90 days of the end of any periods. The Agreement provides for (a) a base salary of $6,250 per month, with a 5% increase per annum, and (b) all group insurance plans and other benefit plans and programs made available to the Company's management employees. Additionally Mr. Defant has been granted 2.5% option of HempTech common stock at par value.

COMPENSATION OF DIRECTORS

Directors who are Company employees receive no additional or special remuneration for serving as directors. Presently, we do not provide compensation to outside directors.

OTHER INFORMATION REGARDING THE BOARD OF DIRECTORS

There are no family relationships between the directors or executive officers. All of the actions by the Board of Directors during the year were taken by consent resolutions and written actions in lieu of meetings.

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The following table sets forth the number of our shares of common stock owned by:

	each of our directors and executive officers, at March 31, 2015;
	our directors and executive officers as a group, at March 31, 2015; and
	other persons, including their addresses, and groups, if any, we have learned own or control more than five percent of our issued and outstanding common stock as of a recent date.

The address of our directors and executive officers is our address. Except as noted in the following table, we are not aware of any other person or "group", as defined in the Regulation S-K, who owned five percent or more of our common stock at March 31, 2015. We have no reason to believe that each person identified in the table does not have sole voting and investment power over the shares he owns, except as noted.

Name	Number of shares		Percentage

Saeed (Sam) Talari		346,704,323*		36.00	%
All directors and officers as a group (1 person)		346,704,323		36.00	%

*Direct and indirect ownership. Includes 8,000,000 shares of Preferred Series A as of March 31, 2015.

STOCK OPTION PLAN AND WARRANTS

Stock Options

On March 23, 2014, we adopted an Incentive Stock Option Plan ("Option Plan") for the benefit of its key employees, including officers and employee directors, consultants and affiliates. The Option Plan is intended to provide those persons who have substantial responsibility for the management and growth of the Company with additional incentives and an opportunity to obtain or increase their proprietary interest in the Company, encouraging them to continue in employment. We authorized 4,000,000 shares to be set aside under the Option Plan. As of March 31, 2015, no shares have been issued under this plan.

Item 13. Certain Relationships and Related Transactions, and Director Independence

We do not anticipate entering into any future transactions with our directors, officers and affiliates. There are no family relationships between the directors or executive officers.

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Item 14. Principal Accountant Fees and Services

The accounting firm of Turner & Stone Certified Public Accountants were engaged to auditing year 2015. The fees were $9,000. No fees paid for consulting or tax work, during 2015 and 2014.

PART IV

Item 15. Exhibits and Financial Statement Schedules

(a)(1) FINANCIAL STATEMENTS

See index in Item 8


(a)(2) FINANCIAL STATEMENT SCHEDULES

None

(a)(3) OTHER EXHIBITS

	31.1	Principal Executive Officer's Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of
		2002

	31.2	Principal Principal Financial Officer's Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of
		2002

	32.1	Principal Executive Officer's Certification Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant
		to Section 906 of the Sarbanes-Oxley Act of 2002

	32.1	Principal Principal Financial Officer's Certification Pursuant to 18 U.S.C. Section 1350 as Adopted Pursuant
		to Section 906 of the Sarbanes-Oxley Act of 2002

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	FutureWorld Corp.

Date: May 31, 2016	By:	/s/ Sam Talari
		Saeed (Sam) Talari, Acting Principal Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Signature, Name and Position:		Date:

/s/ Sam Talari		May 31, 2016
Saeed (Sam) Talari, Acting Principal Executive Officer and Director

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FUTUREWORLD CORP. - FORM 10-K/A - May 31, 2016

Attached files

FUTUREWORLD CORP. Reports