|By PR Newswire||
|April 21, 2014 04:05 PM EDT|
LOS ANGELES, April 21, 2014 /PRNewswire/ -- TechnoConcepts, Inc. (OTCMarkets/Pinksheets: TCPS) is pleased to announce that it has narrowed its search for a law firm to represent it regarding its current intellectual property portfolio, and will soon find an effective use for the portfolio for the benefit of the Company's shareholders.
Mr. Suarez, Chairman and CEO of TechnoConcepts, said, "Our Company has had a lot of changes in the last several weeks. We are excited about how we are developing as a company; with that said, we recognize that the intellectual property portfolio we carry as an asset of our Company is valuable and could be substantially more valuable. With Mr. Aaron McGeary as company counsel, we are ready to make some effective decisions about our intellectual property. We will not set aside the patents that the Company invested so much money in over the years."
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.
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