|[June 19, 2014]
WDAS Welcomes Japanese Government Agency Approval, Books Additional $300,000 in Q2 Revenues and Launches Power Cloud 14
NEW YORK --(Business Wire)--
World Assurance Group, Inc. (www.worldassurancegroup.com) (OTC
Pink: WDAS) today announces that partner company, Power Clouds' Japanese
subsidiary has been approved by the Japan External Trade Organization
(JETRO (News - Alert)). In addition, WDAS has booked another $300,000 in Q2'14 revenues
arising from the license set-up fee for Power Cloud 13 and begins
fundraising for Power Cloud 14.
is a Japanese government funded agency, created by the Japanese Minister
of Economy, Trade and Industry. Following a rigorous screening process,
JETRO has approved and welcomes Power Clouds and supports its innovative
business model based on the concept of participation through Power Unit
The production of electrical energy from Japanese Power Clouds is
particularly welcomed as it avoids polluting greenhouse gases derived
from the use of the traditional sources of combustibles that are
increasingly and more widely used in Japan due to the shutdown of the
nuclear plants following the 2011 Great Eastern Earthquake.
Mr Federico Micheli, CEO, Power Clouds Japan C.K., says "We are
thankful for the tangible advic and support we have received from JETRO
and we look forward to making a positive and lasting impact on the
Japanese environment and economy."
Following the completion of the fund raising phase of Power Cloud 13,
WDAS has booked an additional $300,000 to WDAS Q2'14 revenues. As part
of its technology and brand license agreement, WDAS receives 10% of the
set-up costs once funding is completed and a further 3% of the ongoing
revenues once these Power Clouds go into production.
Power Clouds has already started funding Power Cloud 14 (see http://www.powerclouds.com/index.php/projects/).
Mr Fabio Galdi, Chief Executive Officer of WDAS says "I am delighted
that the Power Clouds business model has been formally recognized
internationally, following a intensive screening process by JETRO.
It is amazing that in the Power Clouds business model, participants
can come together from anywhere in the world and create a real and
viable alternative to nuclear power in Japan and globally.
We look forward to many more Power Clouds being deployed, delivering
economic and environmental benefits worldwide."
About World Assurance Group
World Assurance Group, Inc. (WDAS) is a holding company operating
through three wholly owned subsidiaries. WOR(l)D Global Group Inc.,
based in Miami, Florida is the group's research center. World Global
Assets is an intellectual property licensing company based in Singapore. CellAd,
based in Dublin, Ireland, operates in the global mobile advertising
industry and has developed a revolutionary new cloud based advertising
platform that delivers full screen advertisements every time a
subscriber receives an inbound call or text message in return for a
This press release contains forward-looking statements. Words such as
"expects", "intends'', "believes'' and similar expressions reflecting
something other than historical fact are intended to identify
forward-looking statements, but are not the exclusive means of
identifying such statements. These forward-looking statements involve a
number of risks and uncertainties, including the timely development and
market acceptance of products and technologies, the ability to secure
additional sources of finance, the ability to reduce operating expenses,
and other factors described in the Company's filings with the OTC
Markets Group. The actual results that the Company achieves may differ
materially from any forward-looking statement due to such risks and
uncertainties. The Company undertakes no obligation to revise or update
any forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
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