Click here to close now.

SYS-CON MEDIA Authors: Pat Romanski, SmartBear Blog, Bob Gourley, Mike Kavis, Elizabeth White

News Feed Item

Worlds Online Signs Definitive Agreement to Acquire Sigal Consulting, Enter Licensed Medical Marijuana Market

BOSTON, MA -- (Marketwired) -- 05/19/14 -- Worlds Online Inc. (OTCBB: WORX) ("WORX") has entered into a definitive agreement to have its subsidiary, MariMed Advisors, Inc., acquire Sigal Consulting LLC, a Massachusetts-based industry leader in the development of medical marijuana licenses and operations. It is anticipated that the closing will occur in three to four weeks. Upon closing, Sigal Consulting will operate through MariMed Advisors, Inc., as a majority-owned subsidiary of WORX. This acquisition will serve to diversify WORX's operational business into the growing licensed medical marijuana industry.

"Medical marijuana is a rapidly expanding market that is expected to double in the next five years," said Worlds Online CEO Thom Kidrin. "The combination of this large emerging market opportunity and Sigal Consulting team's years of successful experience and industry leadership will provide an opportunity for us to add significant value to our shareholders and a potentially great opportunity for growth."

An independent financial analysis firm (See Change Strategy) estimates there are 730,000 current medical marijuana patients, and 24.8 million eligible patients. ArcView Market Research projects the legal marijuana market will grow to $10.2 billion by 2018.

For many in the medical marijuana industry, knowledge, experience and access to capital have been major obstacles to growth. Federal regulations still restrict financial institutions from financing medical marijuana entities. "WORX's public company structure and experience in the capital markets provide access to the public markets that can provide expansion capital and a first-to-market advantage," noted Kidrin.

"Multiple states are changing their regulations to allow the sale of medical marijuana and there is a void of experience in how to obtain licenses, produce and deliver safe medical cannabis in compliance with the laws of the various states," stated Robert Fireman, founder and CEO of Sigal Consulting and a director of WORX. "This is creating a high demand for our experienced team to help potential entrants into the industry navigate the complex regulations, licensing, tracking, security, cultivation and operating practices as the product moves from seed to sale."

Sigal Consulting has extensive experience and knowledge of licensing, development, cultivation, operations, security, healthcare, and financing for the licensed medical marijuana industry. This is demonstrated in the state of the art Thomas C. Slater Compassion Center, a regulatory-compliant and fully operational cultivation and medical marijuana dispensary in Providence, Rhode Island. The Sigal Consulting team designed this facility as a replicable model of excellence for other medical marijuana centers to be developed as additional states approve the use of medical cannabis. Sigal Consulting currently serves clients in Rhode Island, Massachusetts and California. It is currently expanding and/or planning to expand its services to applicants and license holders in additional states, including New Mexico, Illinois, Nevada and Florida.

The Sigal Consulting transaction is subject to regulatory approvals and customary closing conditions. Until all the closing conditions are satisfied or waived, there can be no assurances that this transaction will be completed. If all closing conditions are satisfied, the transaction is expected to close within 30 days.

About Worlds Online Inc.:
Worlds Online is a 3D social network technology platform focusing on the development of virtual worlds, establishing strategic partnerships and pursuing synergistic next gen social network technology acquisitions related to online virtual world properties, technology platforms or development of mobile content, casual games, virtual currency/ micro transactions, online advertising and e-learning. For more information visit www.worldsonline.com.

About Sigal Consulting LLC:
Sigal Consulting LLC was formed to capitalize on the opportunities available in the emerging medical marijuana Industry across America. The developing array of legislative legalization of medical marijuana and the regulatory environment overseeing the growing and dispensing process is creating a potentially major opportunity in an emerging industry in the United States. Sigal Consulting believes it can become one of the leading providers, as its established legal & regulatory compliance capabilities and its proven operating systems become a model for industry growth.

Forward Looking Statements:
This release contains certain forward-looking statements and information relating to Worlds Online Inc. that is based on the beliefs of Worlds Online management, as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events including estimates and projections about its business based on certain assumptions of its management, including those described in this Release. These statements are not guarantees of future performance and involve risk and uncertainties that are difficult to predict, including, among other factors, changes in demand for the Company's services and products, changes in the economic environment and changes in technology. Additional risk factors are included in the Company's public filings with the SEC. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "hoped," "anticipated," "believed," "planned, "estimated," "preparing," "potential," "expected" or words of a similar nature. The Company does not intend to update these forward-looking statements. None of the content of any of the websites of any other party referred to herein (even if a link is provided for your convenience) is incorporated into this release and the Company assumes no responsibility for any of such content.

Media Relations:
Julie Shepherd
Accentuate PR
847 275 3643
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Dave will share his insights on how Internet of Things for Enterprises are transforming and making more productive and efficient operations and maintenance (O&M) procedures in the cleantech industry and beyond. Speaker Bio: Dave Landa is chief operating officer of Cybozu Corp (kintone US). Based in the San Francisco Bay Area, Dave has been on the forefront of the Cloud revolution driving strategic business development on the executive teams of multiple leading Software as a Services (SaaS) ap...
Health care systems across the globe are under enormous strain, as facilities reach capacity and costs continue to rise. M2M and the Internet of Things have the potential to transform the industry through connected health solutions that can make care more efficient while reducing costs. In fact, Vodafone's annual M2M Barometer Report forecasts M2M applications rising to 57 percent in health care and life sciences by 2016. Lively is one of Vodafone's health care partners, whose solutions enable o...
How do you securely enable access to your applications in AWS without exposing any attack surfaces? The answer is usually very complicated because application environments morph over time in response to growing requirements from your employee base, your partners and your customers. In his session at 16th Cloud Expo, Haseeb Budhani, CEO and Co-founder of Soha, will share five common approaches that DevOps teams follow to secure access to applications deployed in AWS, Azure, etc., and the frict...
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists will discuss how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations m...
With IoT exploding, massive data will transform businesses with opportunities to monetize almost anything that can be measured. In this C-Level Roundtable Discussion at @ThingsExpo, Brendan O’Brien, Aria Systems Co-founder and Chief Evangelist, will lead an expert panel of consultants, thought leaders and practitioners who will look at these new monetization trends, discuss the implications, and detail lessons learned from their collective experience. Finally, the panel will point the way forw...
SOASTA, the leader in performance analytics, today reported record growth of the CloudTest community, exceeding 30,000 registered users of the CloudTest platform in Q1 2015. SOASTA also announced widespread adoption of its Web and mobile testing solutions, with more than 1,600 customers completing more than 285,000 tests using CloudTest during the quarter. This rapid growth shows that DevOps-driven digital businesses are embracing a more continuous approach to testing, and CloudTest is meeting t...
of cloud, colocation, managed services and disaster recovery solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. TierPoint, LLC, is a leading national provider of information technology and data center services, including cloud, colocation, disaster recovery and managed IT services, with corporate headquarters in St. Louis, MO. TierPoint was formed through the strategic combination of some of t...
How is unified communications transforming the way businesses operate? In his session at WebRTC Summit, Arvind Rangarajan, Director of Product Marketing at BroadSoft, will discuss how to extend unified communications experience outside the enterprise through WebRTC. He will also review use cases across different industry verticals. Arvind Rangarajan is Director, Product Marketing at BroadSoft. He has over 19 years of experience in the telecommunications industry in various roles such as Softw...
SYS-CON Events announced today that Vicom Computer Services, Inc., a provider of technology and service solutions, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. They are located at booth #427. Vicom Computer Services, Inc. is a progressive leader in the technology industry for over 30 years. Headquartered in the NY Metropolitan area. Vicom provides products and services based on today’s requirements...
The 5th International DevOps Summit, co-located with 17th International Cloud Expo – being held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the...
What exactly is a cognitive application? In her session at 16th Cloud Expo, Ashley Hathaway, Product Manager at IBM Watson, will look at the services being offered by the IBM Watson Developer Cloud and what that means for developers and Big Data. She'll explore how IBM Watson and its partnerships will continue to grow and help define what it means to be a cognitive service, as well as take a look at the offerings on Bluemix. She will also check out how Watson and the Alchemy API team up to off...
The IoT Bootcamp is coming to Cloud Expo | @ThingsExpo on June 9-10 at the Javits Center in New York. Instructor. Registration is now available at http://iotbootcamp.sys-con.com/ Instructor Janakiram MSV previously taught the famously successful Multi-Cloud Bootcamp at Cloud Expo | @ThingsExpo in November in Santa Clara. Now he is expanding the focus to Janakiram is the founder and CTO of Get Cloud Ready Consulting, a niche Cloud Migration and Cloud Operations firm that recently got acquir...
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
SYS-CON Media announced today that John Treadway’s blog has exceeded 475,000 page views. John Treadway, Vice President at Cloud Technology Partners, has surpassed 475,000 page views on the SYS-CON family of online magazines, which includes Cloud Computing Journal, Internet of Things Journal, Big Data Journal, Microservices Journal, and several others. His blog home page at SYS-CON can be found at JohnTreadway.SYS-CON.com.
ProfitBricks has launched its new DevOps Central and REST API, along with support for three multi-cloud libraries and a Python SDK. This, combined with its already existing SOAP API and its new RESTful API, moves ProfitBricks into a position to better serve the DevOps community and provide the ability to automate cloud infrastructure in a multi-cloud world. Following this momentum, ProfitBricks has also introduced several libraries that enable developers to use their favorite language to code ...