LOS ANGELES, Sept. 12, 2014 /PRNewswire/ -- TechnoConcepts, Inc. (OTCMarkets/Pinksheets: TCPS), is issuing the following important corporate update on the Company's state of affairs and its choice to shift its focus away from the Marijuana sector.
"The Company would like to notify investors that after significant due diligence in entering the marijuana sector with a supply company, we have decided that it is not in the best interest for our company and for our shareholders to put the Company at risk in the sector. The Marijuana sector as outlined by a recent SEC bulletin clearly highlights the space as being unsafe and therefore we do not want to entangle our Company within a sector facing so much negative scrutiny. We continue to refine our intellectual property portfolio and expect, in the near future, to acquire additional intellectual property. The Company would therefore like to retract our announcement on April 1, 2014 that announced entering the Marijuana sector. We are not a Marijuana company, nor have we ever been," said Company President Jose Suarez.
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.
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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 press 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.