LOS ANGELES -- (BUSINESS WIRE) -- BG Medical Technologies, Inc. (OTC: RIGH) will be creating a new subsidiary, Genius Biotech Corporation, to specialize in the healthcare aspects of medical marijuana. BG Medical Technologies will place its medical device, treatment solutions, and product manufacturing projects into Genius Biotech Corporation as a stand-alone corporation with its own growth potential. The long-term plans of the company are to achieve stable growth as a rapidly increasing number of states continue to legalize the medical use of cannabis by the recommendation of doctors for treating illnesses. Internet technology applicable to both medical and state-legal recreational cannabis use will remain housed under the BudGenius brand.
Company CEO Angel Stanz stated, “This will benefit current shareholders by the acquisition and development of both medical technology and data technology through parallel growth trajectories. Genius Biotech Corporation is in a position to benefit greatly from the continued legalization of medical marijuana, while our crossover products benefit synergistically from emerging recreational marijuana markets.”
Stanz continued, “there is a need for one company to be the statistical and control conduit for distributing medical and recreational data across synergistic platforms. Our laboratories provide immediately useful data for the administration of the wide variety of cannabinoid-based materials and dosage systems, such as raw plant matter, edibles, and ointments, while our websites analyze and package data to bring business types together through unified systems. By partitioning our focus into distinct medical and general business units we are able to provide a greater overall value to our shareholders.”
Genius Biotech Corporation will soon have its own website, and is in the process of being organized as a Delaware C-corp. Further comments are premature at this time, but Mr. Stanz did state that the BG Medical board of directors have demanded that Genius Biotech Corporation should be fully reporting, audited, and Sarbanes-Oxley compliant.
About BG Medical Technologies
BG Medical Technologies is a medical marijuana company that develops technology and research software for cannabis and natural health solutions. The Company collects data through a network of proprietary software, utilized by patients, by retail operators, and by medical professionals. The Company's current flagship product, BudGenius.com, is a social web platform connecting cannabis patients to regionally available medicine that is paired to their needs. The Company operates an analytical chemistry laboratory designed for cannabis study, utilized to determine potency and safety guidance for patients and medicine manufacturers.
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