New Legislation Expected to Be Signed Into Law Will Help Boost Sales for Companies Like HempLife Today and the CannazALL Brand of CBD Products Derived From Hemp
Denver, CO, Dec. 18, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Ubiquitech Software Corp. (OTC: UBQU), through its subsidiary HempLife Today™, is seeking to keep shareholders informed of the new industry favorable legislation, and what this can do for the Company and its quality brand of USA grown and formulating CannazALL™ CBD products derived from hemp.
Last week, Congress agreed to the final version of the 2018 Farm Bill, and President Trump is expected to sign the legislation within days. This new Farm Bill, because of Senate Majority Leader Mitch McConnell’s strong support of and leadership on the issue of hemp, will include provisions that legalize hemp production and the sale of hemp derived products that meet the 2018 Farm Bill Criteria. Like CannazALL™ products from HempLife Today™.
With this new favorable legislation, the Company expects key areas that have been more challenging since the Company took its first order in December of 2014, to become more accessible and friendly to the industry. These areas include; banking, shipping, product production, advertising, new products, and more.
Here are some highlights as summarized by Jonathan Miller, General Counsel to the U.S. Hemp Roundtable…
-- The era of hemp prohibition is over. Hemp is now permanently removed from the Controlled Substances Act (CSA). It is forever deemed an agricultural commodity, no longer mistaken as a controlled substance, like marijuana. -- By redefining hemp to include its “extracts, cannabinoids and derivatives,” Congress explicitly has removed popular hemp products -- such as hemp-derived cannabidiol (CBD) -- from the purview of the CSA. Accordingly, the Drug Enforcement Administration no longer has any possible claim to interfere with the interstate commerce of hemp products. This should give comfort to federally regulated institutions -- banks, merchant services, credit card companies, e-commerce sites, and advertising platforms -- to conduct commerce with the hemp and hemp product industry. -- Hemp farmers now may finally access needed crop insurance and can fully participate in USDA programs for certification and competitive grants. -- State and Tribal governments may impose separate restrictions or requirements on hemp growth and the sale of hemp products – however, they cannot interfere with the interstate transport of hemp or hemp products. We are hopeful that local and state officials will follow Congress’ lead, as well as the statements and resolutions of the World Health Organization and the U.S. Food and Drug Administration (FDA) that declare, after intense scientific scrutiny, that CBD is safe, non-toxic, and non-addictive. -- The FDA continues to exercise jurisdiction over the regulation of ingestible and topical hemp products. We applaud the agency’s continued efforts to crack down on bad actors who undermine the industry through misguided marketing claims. And while we are concerned about non-binding statements made by the FDA that have led some state and local officials to question the legality of the retail sale of hemp-derived CBD, we are hopeful that we can work with the agency to clarify that CBD – which their own scientists concluded has no abuse potential and does not pose a risk to public health – should not be withheld from Americans who count on it for their health and wellness.
The Company wants shareholders to understand that this new favorable legislation is a work in progress, and will not be instantly recognized by all vendors, banks, processors, media outlets, and shipping companies. However, the industry is working hard to educate and update all key areas and the Company expects great strides to be made in these areas throughout 2019, and beyond.
CEO James Ballas stated, “This is huge news in our industry and we have been waiting for this. We believe, as a company, that we will be able to move forward on plans we have had to make the CannazALL brand a household word and recognized as a true pioneer and leader in the industry. As we educate more media outlets and not only increase our online sales, but move into TV, radio, and print, we know we will see the explosive growth we have wanted since the start. Everything up to now has been to position the Company for what is coming in 2019 and the years ahead, and I look forward to finally being able to use my experience in television and radio to deliver the message of our incredible CannazALL brand to the masses.”
The Company believes that new advertising platforms like long and short form television commercials, radio and Podcast shows, and regional and national print advertising, can increase awareness of CannazALL™ products and revenues, and help the Company reach its goal of $50,000,000 per year by 2022. With many experts expecting sales of hemp related products reaching 20m per year by 2022, the Company is being very conservative with its growth estimates and will offer new projections by 3rd quarter of 2019.
COO Luke Dreyer added, “We can’t state enough just how important and exciting this new legislation is to us, and we know it is the game changer we have been waiting for. If most people knew the difficulties that companies like ours have overcome to get to where we are they would understand, and now we believe that many of the obstacles that have slowed our growth will be behind us.”
The Company will continue to keep shareholders aware of the new legislation and how it affects the Company in the days and weeks ahead, and also keep shareholders informed on Company progress.
The Company will also keep shareholders aware of the progress being made on the filing of the official Company name and symbol change to HempLife Today.
About Ubiquitech Software Corp
Ubiquitech Software Corp, through its subsidiaries, is a dynamic multi-media, multi-faceted corporation utilizing state-of-the-art global internet marketing, DirectResponse (DRTV) Television, Radio, Internet Content, and traditional marketing to drive traffic to the new and emerging multi-billion dollar industries like its subsidiaries HempLifeToday™ and CryptoBuy.com
About HempLife Today™
HempLifeToday™ focuses on the exciting and dynamic new thinking in the world today that recognizes the important health and life-enriching enhancement that CBD Oil from the Hemp plant can bring. Through its network of quality USA growers, HempLifeToday.com™ has developed multiple and proprietary CannazALL™ CBD oil products that include; It’s popular CBD Tinctures, Concentrated Oils, GelCaps, Skin Salve, e-liquid, and CannazALL Pets™ CBD products all offered @ www.HempLifeToday.com
Contact / Investor relations IR@UbiquitechSoftware.com