World Assurance Group Signs License Pact with World Global Network

World Assurance Group (WDAS) reported that it has signed a license agreement for its wearable technology products and the "Space" brand with World Global Network (WGN) for US$2 Million and ongoing revenues per unit sold.

Following successful discussions with WDAS' sister company, WGN and other partners, WDAS said it signed the Space Computer license for use of the Space technology and brand, at the recent opening of World Global Network's new Global Headquarters in Singapore.

In its release, WDAS said the license is for US$2,000,000, which will be booked in Q3'14 revenues and an additional US$25 per Space Computer unit for the basic version. WGN will start to take pre- orders for the first 5,000 units from selected customers and it will be possible to test the Space Computer at the WGN event in Dubai at the end of this year.

Fabio Galdi, Chief Executive Officer of WDAS, said, "Despite all of the talk and hype in the marketplace, none of the leading players have actually launched a product that utilizes the capability of today's technology and fully delivers on user requirements in a meaningful way. We have always been passionate about this technology. We have in-house expertise in renewables, cellular, miniaturization, Personal Computers, Notebooks and Tablets. With our ongoing effort in this area and our long and proven history in rapid development, product launch and commercialization of innovative products worldwide, we believe our new wearable technology products will truly revolutionize the concepts of Personal Computer, Notebook and Tablets as we know today.

"We will launch our first product later this year during the International Convention held by World Global Network, where over 5000 distributors from all around the world will attend. We understand the true magnitude of this opportunity and we look forward to bringing our truly revolutionary, innovative, exclusive and unique wearable technology products to this new emerging market and challenge Google, <org value="ACORN:4261200049" idsrc="xmltag.org">Epson, Sony and the other significant players."

World Assurance Group is a holding company operating through three subsidiaries.

More information and complete details:

www.worldassurancegroup.com

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