|By Marketwired .||
|February 10, 2014 11:40 AM EST||
LAKE ELSINORE, CA -- (Marketwired) -- 02/10/14 -- In the news release, "IDST Awarded Voter Outreach and Fundraising Management Contract for California Marijuana Control, Legalization and Revenue Act 2014," issued earlier today by IDS Industries, Inc. (OTCQB: IDST), we are advised by the company that the Contact phone number should be "(714) 733-1412" rather than "(714) 433-1412" as originally issued. Complete corrected text follows.
IDST Awarded Voter Outreach and Fundraising Management Contract for California Marijuana Control, Legalization and Revenue Act 2014
Exclusive Contract Monetizes Direct-to-Consumer Capacity
LAKE ELSINORE, CA -- February 10, 2014 -- IDS Industries, Inc. (OTCQB: IDST) announced today its formation of a wholly-owned subsidiary to deliver multi-channel, direct-to-consumer advocacy, fundraising and marketing services commencing with its exclusive contract to roll out the Marijuana Control, Legislation Revenue Act 2014 (MCLR 2014) to California voters.
As part of its contract, the newly formed IDST subsidiary, Propel Management Group, Inc. (PMG) will oversee and manage all voter and donor outreach through its direct-to-consumer marketing infrastructure originally developed to build its dealer network for Charge! Energy portable power products. PMG will provide all outbound and inbound telemarketing; manage email solicitation and the ballot petition campaigns.
On January 31st, 2014, MCLR 2014 received approval by the California Attorney General's (AG) office for circulation of petitions and set an initial goal of acquiring 800,000 registered California voter signatures to achieve the 560,000 validated signatures necessary to qualify the measure for inclusion on the November 2014 state ballot.
The campaign has an initial target of $2,000,000 for IDST's PMG to fund this effort. As detailed in today's 8-K filing, the new IDST subsidiary, Propel Management Group, Inc. (PMG) will receive $2.75 per signature and a percentage of all its fundraising activities.
"The initial results of PMG's work gathering signatures in the community and the growing donations through their social media and telemarketing is impressive. We're more confident than ever we'll achieve our signature and fundraising milestones, starting with $2,000,000 in the next 6 weeks required to get the measure on the ballot and then raising an additional $18,000,000 to get it passed in November," said Dave Hodges, co-director of Americans for Policy Reform (AFPR), the initiative's primary sponsor. "We are seeing more enthusiasm growing for this measure abroad a wider spectrum of varying interests which only further drives our commitment."
The exclusive contract with Californians for Marijuana Legalization and Control (CMLC), a California campaign committee, aims to raise the roughly $20,000,000 it projects as necessary to mobilize voters to approve the grass roots, "open source" developed measure so important to a diverse range of interests including families, law enforcement and state revenue requirements. MCLR 2014 campaign has received a commitment of $500,000 to achieve the signature gathering milestone and IDST's subsidiary is committed to proactively insuring voters are rallied statewide to participate in the effort to pass the important measure in November.
Among the provisions of MCLR 2014 is the legalization of marijuana for social uses, regulation of the California marijuana trade and related funding mechanisms for state authorities. In its fiscal analysis, the AG office states MCLR 2014 will "reduce costs potentially exceeding $100 million annually to state and local governments related to enforcing certain marijuana-related offenses, handling the related criminal cases in the court system, and incarcerating and supervising certain marijuana offenders." The analysis also states, "Potential net additional tax revenues of a few hundred million dollars annually related to the production and sale of marijuana," would be realized.
"When the Board of Directors appointed Mr. Plantinga as our CEO and President we were confident his experience and skill set would guide the Company to new opportunities as well as maximize our current operations and relationships. The contract with CMLC is a testament that Mr. Plantinga can drive new revenues to the Company and harness our resources to the benefit of our shareholders," said Bruce R. Knoblich, Co-Founder and outgoing Chairman. "It is apparent that the Board's intuition regarding Mr. Plantinga was correct," emphasized Mr. Knoblich.
"As the Charge! Energy storage business continues to develop we saw an opportunity to create revenue from sales infrastructure we had created to sell portable storage products and build upon the relationships we already had with various businesses that are directly benefited from the passage of this measure," stated Scott Plantinga, CEO. Mr. Plantinga added "We have a detailed plan for success in meeting these milestones and intend to leverage this contract to grow our fundamentals and build value for our shareholders."
The Company's GIIRS-rated energy storage products deliver clean stationary and portable electrical energy, targeting a diverse range of residential, commercial, and off-grid markets. The Company's proprietary integrated Battery Management and Charge Controller System (BMCCS) optimizes advanced lithium chemistry functions improving battery performance and extending battery life. Its Direct-to-Consumer business delivers comprehensive call center and online marketing solutions to brands seeking maximum reach and return on investment (ROI).
Forward-looking & Safe Harbor Statement
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and those statements 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 actual results and future events could differ materially from those anticipated in such statements. The Company cautions that these forward-looking statements are further qualified by other factors. The Company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.
IDS Industries, Inc.
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