LOS ANGELES, April 23, 2014 /PRNewswire/ -- (OTCMarkets
Disclosure & News Service) – TechnoConcepts, Inc.
(OTCMarkets/Pinksheets: TCPS) is pleased to announce legendary
micro-cap investor Irwin "Izzy" Zalcberg has bought shares in
TechnoConcepts, Inc.
Recently, Mr. Zalcberg has been a noted investor in Writ Media
Group, Inc., Greenstone Healthcare Corp. and Medgenics,
Inc.
Over the last couple of years, several states have embarked on
the legalization of marijuana for medical purposes. The
overwhelming approval of medical marijuana has afforded a huge
opportunity for proprietors and investors.
The US legal marijuana market is now assessed at $1.44 billion. The five year national market
potential is now approximately $10.2
billion, which is more than a 700% increase over the current
market value. Gains will come in the form of increased demands in
existing markets as well as new state markets that become approved
over the coming years. Adult use of marijuana in Washington and Colorado is projected to add $208 million and $359
million respectively to their markets in 2014 (statistics
from Medical Marijuana Business Journal and Pew Research).
Mr. Suarez, Chairman and CEO of TechnoConcepts, said, "As we
look to increase shareholder value, we are excited to have
investors such as Mr. Zalcberg demonstrate his faith in the
initiatives we have undertaken by taking an equity position in our
Company."
About TechnoConcepts, Inc.
TechnoConcepts, Inc. (OTCMarkets/Pinksheets: TCPS) is a wireless
technology company currently holding patents and other intellectual
property. The Company is a Colorado company in good standing and its
filings are available at OTCMarkets.com.
Disclaimer
TechnoConcepts, Inc. and Zimbali, Inc. provide a
comprehensive set of solutions to the regulated cannabis
industry. Zimbali, Inc. does not grow, harvest, distribute or
sell cannabis or any substances that violate United States law or the Controlled Substances
Act, nor does it intend to do so in the future. As of March 21, 2014, twenty states and the
District of Columbia allow its
citizens to use Medical Marijuana and voters in the states of
Colorado and Washington approved ballot measures to
legalize cannabis for adult use. The state laws are in conflict
with the federal Controlled Substances Act. The Obama
administration has effectively stated that it is not an efficient
use of resources to direct federal law enforcement agencies to
prosecute those lawfully abiding by state designated laws allowing
the use and distribution of medical marijuana. However, there is no
guarantee that the current administration, nor any future
administration, will not change this policy and decide to enforce
the federal laws strongly. Any such change in the federal
government's enforcement of current federal laws could cause
significant financial changes to the Company. While we do not
intend to harvest, distribute or sell cannabis or cannabis related
products, we may be harmed by a change in enforcement by Federal or
state governments.
Forward-Looking Statements
Certain statements in this news release may contain
forward-looking information within the meaning of Rule 175 under
the Securities Act of 1933, and are subject to Rule 3B-6 under the
Securities Exchange Act of 1934, and are subject to the safe harbor
created by those rules. All statements, other than statements of
fact, included in this release, including, without limitation,
statements regarding potential future plans and objectives of the
company, are forward-looking statements that involve risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and other results and further events could
differ materially from those anticipated in such statements. Future
events and actual results could differ materially from those set
forth in, contemplated by, or underlying the forward-looking
statements.
SOURCE TechnoConcepts, Inc.