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.
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.
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.