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Form 8-K for FUTUREWORLD CORP.


30-Mar-2015

Other Events, Change in Directors or Principal Officers

Item 8.01 – Other EventsOn 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.

 

Item 5.02 – Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;Compensatory Arrangements of Certain Officers.

On March 27, 2015, The Company decided to terminated Mr. Bill Short’s services to the company as the CEO of CB Scientific Inc., and COO of FutureWorld Corp, effective immediately. The termination was in accordance with Company policy and mainly based on facts represented in the referenced lawsuit against Mr. Bill Short and other parties. The Company does not plan to replace this position at the present time.

The Company has also terminated all contractors employed by CB Scientific in our Lakewood Colorado office based on facts represented in the referenced lawsuit. The Company plans to move CB Scientific offices to St. Petersburg, Southern Colorado and Northern California immediately. The company is also in the process of filling positions required at the Company.

We find these events very unfortunate but as management, we have a fiduciary responsibility to our shareholders to protect their investment and Company’s intellectual properties; by pursuit of actions in any necessary forum.


MAPH Enterprises, LLC | (305) 414-0128 | 1501 Venera Ave, Coral Gables, FL 33146 | new@marijuanastocks.com
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