|By Marketwired .||
|May 21, 2014 02:30 PM EDT||
FT. LAUDERDALE, FL -- (Marketwired) -- 05/21/14 -- Delta Entertainment Group, Inc. (OTC Pink: DENG) (PINKSHEETS: DENG) ("DENG"), effective May 15, 2014, signed a letter of intent to acquire all of the issued and outstanding shares of common stock of Grow Solutions, Inc. ("Grow"). Grow is a developmental stage company that intends to lease equipment, distribute products and provide management services for grow operators in the Marijuana industry. At closing, DENG will issue Grow 51,000,000 shares of DENG common stock. Subject to an increase in DENG authorized capital, DENG will be required to issue Grow an additional 700,293,957 shares of common stock.
Prior to Closing, DENG will be required to file all SEC reports through 12-31-13. Grow will be required to have $ 1,250,000 in capital. The foregoing terms and conditions will be incorporated in a share exchange agreement whose terms and conditions must be agreed upon between the parties.
Following Closing, DENG will undertake to spin-off its currently operating subsidiaries.
However, there can be no assurance DENG will be successful in closing the transaction with Grow.
Form 8-K has been filed with the U.S. Securities and Exchange Commission and can be reviewed in its entirety at: http://www.sec.gov/Archives/edgar/data/1481199/000116169714000211/0001161697-14-000211-index.htm
The Marijuana Industry Today:
Legal cannabis sales are expected to grow to $2.57 billion in 2014, up from $1.53 billion in 2013, and projected to be worth $ 10.2 billion in five years, according to ArcView Group, a San Francisco investment network and market research firm focused on legal cannabis. The Legal Marijuana is among the fastest-growing markets in the United States, and it's growing at a rate poised to outpace the expansion of the global smartphone market, according to a new report by The Huffington Post.
Medical marijuana is currently legal in 20 states and the District of Columbia. This year Washington and Colorado will begin implementing laws that permit the sale of pot to all adults. Colorado alone is predicted to add $ 359 million to its existing market in 2014.
The marijuana industry's growth coincides with a widespread shift in the public's attitude toward the substance. A Gallup poll conducted found that for the first time in history, more than half of Americans think pot should be legal for both medical and recreational purposes. A CNN documentary that aired last summer explored marijuana's benefits for a mainstream audience. Individuals are increasingly using the plant's medicinal properties to treat symptoms even in children.
The report only examined the sale of cannabis itself, whether wholesale to retailers or directly to consumers. The markets for ancillary products, such as security equipment, grow tools, apps and paraphernalia has the potential to drive growth sales still further.
The federal government, however, has yet to catch up to this rapid evolution. Even in states that permit marijuana use, cannabis remains illegal at the federal level, and the Controlled Substance Act classifies marijuana as having no medical value. Federal raids against dispensaries in California over the past two years have shuttered hundreds of businesses and hindered the industry's growth. Attorney General Eric Holder's asserted that the Justice Department would not interfere with the implementation of adult use laws in Washington and Colorado. "Federal acceptance of marijuana is not going to happen in one fell swoop," he said. "It will happen incrementally, with important steps along the way."
About Delta Entertainment Group, Inc.
Primarily a holding company for its subsidiaries; PearlBrite Concepts, Inc., www.pearlbrite.net, a non-dental cosmetic teeth whitening company; Captivating Cosmetics Corp., www.trlovecosmetics.com, a producer and marketer of color cosmetics and Oomph Energy Corp., www.oomphenergygum.com, a producer and marketer of Energy Gum.
Safe Harbor Statement; Forward Looking Statements
Statements in this press release relating to the Letter of Intent, corporate restructuring, the marijuana industry, and any other statements about the Company or Grow's future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors beyond our control that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including, but not limited to: the ability of the parties to close the transaction and satisfy the conditions thereunder.
Delta Entertainment Group, Inc.
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
Feb. 23, 2017 12:45 AM EST Reads: 1,216
As businesses adopt functionalities in cloud computing, it’s imperative that IT operations consistently ensure cloud systems work correctly – all of the time, and to their best capabilities. In his session at @BigDataExpo, Bernd Harzog, CEO and founder of OpsDataStore, will present an industry answer to the common question, “Are you running IT operations as efficiently and as cost effectively as you need to?” He will expound on the industry issues he frequently came up against as an analyst, and...
Feb. 23, 2017 12:00 AM EST Reads: 1,586
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of Soli...
Feb. 22, 2017 10:45 PM EST Reads: 565
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Feb. 22, 2017 09:45 PM EST Reads: 6,663
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Feb. 22, 2017 08:45 PM EST Reads: 1,358
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Feb. 22, 2017 08:45 PM EST Reads: 1,289
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.
Feb. 22, 2017 08:45 PM EST Reads: 1,826
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
Feb. 22, 2017 07:45 PM EST Reads: 7,790
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Feb. 22, 2017 07:30 PM EST Reads: 1,182
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Feb. 22, 2017 06:30 PM EST Reads: 7,493
Every successful software product evolves from an idea to an enterprise system. Notably, the same way is passed by the product owner's company. In his session at 20th Cloud Expo, Oleg Lola, CEO of MobiDev, will provide a generalized overview of the evolution of a software product, the product owner, the needs that arise at various stages of this process, and the value brought by a software development partner to the product owner as a response to these needs.
Feb. 22, 2017 06:15 PM EST Reads: 1,540
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Feb. 22, 2017 05:45 PM EST Reads: 1,384
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Feb. 22, 2017 04:45 PM EST Reads: 960
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Feb. 22, 2017 04:30 PM EST Reads: 1,088
In the first article of this three-part series on hybrid cloud security, we discussed the Shared Responsibility Model and examined how the most common attack strategies persist, are amplified, or are mitigated as assets move from data centers to the cloud. Today, we’ll look at some of the unique security challenges that are introduced by public cloud environments. While cloud computing delivers many operational, cost-saving and security benefits, it takes place in a public, shared and on-demand ...
Feb. 22, 2017 04:00 PM EST Reads: 1,511